I used batch enter transactions for all the bank statements transactions from the past and they were entered without errors into QBDT.
Now I am not clear about Credit Card transactions. Ok, for the purchases on credit card I selected Credit card charges, but for payments made in credit card what do we select, is it Bills? Or deposits?
also, the type of account that credit card goes is Bank OR we need to create a credit card account type and then the name of the credit card in the account name?
thank you for any help
Let me help you in tracking the credit card transactions.
Yes, you should create a credit card account and not a bank account on your Chart of Accounts. Please note that these two account types are different.
Also, you can enter the purchases or credit card charges using the Enter Credit Card Charges option. For the payment, you can simply write a check.
Please check this link: Set up, use, and pay credit card accounts. This has the detailed steps from setting up the account to recording the transactions and payments.
Also, this article will explain more on how to reconcile your accounts: Reconcile an account in QuickBooks Desktop.
Keep on posting if you need more clarifications in tracking transactions. I'll assist you!
Yes I created a Credit Card account type, i needed to make sure of that, and thank you.
but i have these transactions from 2018-2021 payments that were made into the credit card from checking account when purchases were made in 2018-2021. I need to go and write a check for every transaction?
or I should do Batch enter transactions and select checks, not bills, not deposits?
Thank you so much for your help
Hello there, @booklover.
Thanks for getting back to us here in the Community. Allow me to chime in and answer your follow-up questions about your credit card transactions.
Yes! You can use the Batch Enter Transactions to create checks instead of recording them individually. Just make sure to select Checks as the Transaction Type.
For more information on how to go about the process, you can refer to this article and proceed to the To enter transactions by batch section for further guidance: Enter transactions by batch in QuickBooks Desktop.
For tips and other resources, I recommend visiting our website for future reference: Self-help articles.
Please post again or leave a comment if you have more questions about this or anything else QuickBooks. I'm always ready to help. Take care.
It didnt solve my problem because it lowers the bank account balance. These are the past transactions and need to be entered and just lower the balance on credit card not in checking account.
Thank you for getting back, @booklover.
You can use a check or an expense transaction to lower your account's balance. Or, record a journal entry following these steps:
Since these involve are your past transactions, you may seek assistance from your accountant to keep track of these transactions accordingly as it may affect your balances and reconciliations.
In case you want to edit, reverse, or delete journal entries, use this article as your guide: Create a journal entry in QuickBooks Desktop for Windows or Mac.
If you have accounts connected to online banking, you can also review the resources from these links to manage your transactions:
Please let me know if you have any other questions while tracking your credit card transactions in QBDT. I'm just a post way to help. Have a good one!