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LynnS
Level 1

credit card sub accounts

Okay, I've have a Chase Ink card working great for years in the Chase bank feed to QBO.  I added a sub-account for my general manger's card, utilizing the original Chase Ink card as the parent account.  There are 6 months of 2018 transactions on the new sub account related card.  At the Chase online site, both cards transactions are combined on the original card listing of transactions.  But....the general managers card does not download to QBO on update in banking.  Is there a step by step process listed anywhere?  I have read threads mentioning problems with Chase Bank feed on sub-accounts?  Need this for tax prep.  Thanks

7 Comments
RaymondJayO
Moderator

credit card sub accounts

Thanks for taking the time to post here in the Community, @LynnS

 

I'll share some information about your credit card subaccount setup. 

 

First, you'll need to verify from your Chase bank how they send the downloaded transactions before connecting the subaccount to online banking. If the transactions download to one account, you can connect only the parent account. If the transactions download to the individual accounts, you can connect the subaccount and not the parent account.

 

You can’t connect both a parent account and its subaccount. If you try to connect both, you’ll get a message that the account is already connected.

 

For more details, you can check out this helpful article: Connect the Accounts to Online Banking. If you need more information about downloading bank transactions, please visit this article: Download Transactions

 

Stay in touch with me how it goes, @LynnS. You've got this. I'm here to help if you have questions about this info or anything else in QuickBooks. Enjoy your day!

jeffbean
Level 4

credit card sub accounts

I'm experiencing a similar problem with Quicken's import of Chase Ink credit card. I have just started with Quickbooks, connected it with my Chase accounts. The problem is it's only showing the credit transactions made with just the main card. It didn't import the transactions from the second card. Those transactions are missing from Quicken. 

Quickbooks is showing that the second card is connected as a sub-account of the main account. I did not choose that; Quickbooks made that decision itself.

Your solution below says I "need to verify from your Chase bank how they send the downloaded transactions before connecting the subaccount to online banking." I know from my experience watching Chase transactions in other download contexts that the transactions from both cards have all been made available in one single account. So it's not making sense why the transactions on the second card are not made available here, especially since Quickbooks decided to add the second card as a sub-account.

BettyJaneB
QuickBooks Team

credit card sub accounts

Thanks for joining us here in the Community, @jeffbean.

 

 

QuickBooks won't automatically set a sub-account for bank accounts. You'll need to set this up first, so transactions will be distinguished accordingly. To verify the reason behind this setup, I recommend reviewing the Audit Log of your account. QuickBooks Online keeps a list of all the activities in your company. You can see the changes made to your books and who made them.

 

To do that:

  1. Go to Gear icon at the top.
  2. Select Audit Log.
  3. Hit Filter.
  4. Use the fields on the Filter panel to choose the appropriate UserDate, or Events filter to narrow the results.
  5. Click on Apply.

Here are some screenshots for visual reference: 

 

Check out this link for more details: Learn about the audit log

 

If there's no set up found, I recommend contacting our Customer Care Team. They have the tools to check on your account and help determine what's causing this matter.

 

You can reach them through these steps:

  1. Click on Help at the top menu bar.
  2. Hit on the Contact Us button.
  3. Enter a brief description of the issue in the What can we help you with? box.
  4. Press on Let's talk.
  5. Select on Get a callback.
  6. Key in your contact details, then tap on Confirm my call.

contact us1.PNG Contact us2.PNG

I would also suggest getting in touch with your financial institution, to ensure how they transmit the transactions into QuickBooks. 

 

I'm adding here an article about how to connect bank accounts and mange imported bank data for future reference: Bank Feed in QuickBooks Online

 

I got you covered if there's anything else you need. Happy Holidays, jeffbean!

jeffbean
Level 4

credit card sub accounts

Betty, thank you for the response. I called QBO customer support and got a resolution (more on that below). I'm glad I called before reading your response, because I found your references to the Audit Log confusing. Just in case I'm missing something, I followed your instructions there, and I'm at a loss understanding why you thought it was relevant to my situation.

 

As for the resolution, for those who may be following along, the trick was do not follow QBO's process for setting up a business credit card account with more than one card. You will find, as I experienced, it doesn't work to set it up correctly. Instead, there's some manual stuff that has to be done first.

 

I had to start by creating a master account in the Chart of Accounts for the credit card account. Then I setup two sub-accounts to it as parent, one for each card. Then I connected with my bank, identifying each card and separately connecting it to each of the sub-accounts I had created. 

 

This process did work to import all transactions on the credit card account that had been transacted with both cards. The support representative told me that I will be reconciling to the master account, which makes sense. She also said that non-card transactions, like fees and interest and charges, may also need to be posted to the master account; not yet being familiar with QBO, we'll see how that goes.

 

As feedback, from my perspective as a newbie with QBO, I'm disappointed that this version of QuickBooks, which I understand is designed and specifically marketed to small business, did not correctly instruct me in connecting to and importing from a business credit card account that has more than one card. My situation cannot be unique; I imagine others will also have the same problems that I and the original poster had.

Charies_M
Moderator

credit card sub accounts

Thanks for coming back with such details, jeffbean.

 

I appreciate you for sharing the results and tips on how you're able to resolve your issue with importing transactions. This contribution will for sure benefit other users who are experiencing the same situation.

 

Here in the Community, we acknowledge your feedback as this helps us know the product opportunities so we can create a better experience for you.

 

Also, I'd like to share this link where it contains articles that can help you with future QuickBooks questions: Help Articles.

 

You can always come and visit us again whenever you need help. It's my pleasure to assist. Have a good one.

jeffbean
Level 4

credit card sub accounts

Since I was back here trying to get answers on another issue, here's more of what I learned about setting up a credit card account with multiple card holders as a main account with a sub-account for each cardholder.

 

When the QB representative walked me through the setup, she said she wasn't sure whether maybe some transactions might need to be posted to the main account. After several months of watching transactions, I have not found any that work that way. I do see that all payment transactions are imported to the primary cardholder's sub-account. When I tried to post them to the main account, it got me in a world of hurt trying to match payment transactions from the bank account with the payment transaction in the credit card. So I just leave them in the sub-account where they were imported.

 

The problem is that the main account holder's sub-account has an increasing credit balance (because all the payments go here), and the other cardholder's sub-account is increasingly in the red (because no payments are ever posted). The main account is correct, however. If at some point I want to see the sub-accounts corrected, I suppose I can make a journal entry.

jeffbean
Level 4

credit card sub accounts

Further information for those using this approach, provided to me by QB Support, of creating a sub-account for each cardholder:

 

You may need to reconcile the main account, not each of the separate sub-accounts. (I do, because my payments are only imported and posted to one sub-account.) Since this approach bypasses QBO's Banking tab, remember that you can't use the Banking tab to reconcile the main account. It's not there. You must find the main account in your Chart of Accounts, found in the Accounting tab, choose its register, and reconcile it from there.

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