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AlchemySoundandVision
Level 2

Download Credit Card Transactions

I am trying to institute a process that keeps track of our credit card charges. 

 

The main reason I didn't want to have to deal with it came to fruition. The credit card charges are adding to our US bank check register and drag the US Bank available balance way into the negative despite the fact that we have not spent the money to pay the credit card statement yet.

 

Is there a way to avoid this?

2 Comments
AldrinS
QuickBooks Team

Download Credit Card Transactions

Hi there, AlchemySoundandVision.

 

Thanks for bringing this to my attention. I'm here with some insight to provide that'll help you avoid this moving forward.

 

In the situation that you've mentioned, I'd recommend that you get in touch with your bank and have them verify these charges. Since QuickBooks doesn't bring in any transactions from your bank unless they're cleared and are ready for download.

 

Lastly, make sure that your initial categorization for your transactions is correct. Otherwise, they may cause a discrepancy with the available balance of your bank accounts. For additional insight about this, I'm also including these articles:

That should get you going in the right direction. Please keep in touch if you need further assistance with this, I want to make sure this is taken care of.

valprice1
Level 5

Download Credit Card Transactions

I'm curious about whether or not this problem is resolved, AlchemySoundandVision?  Credit card charges shouldn't be touching a bank account (asset) at all.  They would credit the credit card account (liability) and debit the expense account.  Did you get this figured out?

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