Entering credit charges makes the balance go down and payments made make the balance goes up. Isn't that backwards? How shld i enter chgs and paymnts
Making sure you're able to track your credit card charges and payments is my priority, @mmiller2.
Let's review how your credit card charges and payments are entered in QuickBooks. This way, we can make sure that your account's balance is accurately calculated.
There are 4 ways to record your credit card charges. First, you can connect your credit card with QuickBooks. Once doing so, your credit card charges will automatically be downloaded. You can see the list of downloaded credit card transactions in the For Review tab which you can review and assigned to a specific expense category.
The second option is to manually download your credit card transactions from your credit card online banking. You can then import it to QuickBooks through WebConnect or as a CSV file. You can read through this article for more detailed steps: Import bank transactions from .CSV to QuickBooks.
The third option is to enter each transaction through the New icon (+). Here’s how:
Go to the New icon.
Select the payee or the vendor's name.
Pick the Credit Card account used in the actual purchase on the Bank/Credit account.
Fill out the necessary information in the Account details.
Click Save and close.
Lastly, you can directly each credit card transactions via the Chart of Accounts, follow these steps:
Go to the Accounting menu.
Select the Chart of Accounts tab
Locate the Credit Card account.
From the Action column, click the View Register link.
Click on the Add expense drop-down menu and select the specific transaction type.
Enter the necessary information.
Meanwhile, there 3 ways to track your credit card payments.
Pay down a credit card
Write a check
Create a transfer transaction
Get back to us here if you have other questions about tracking your credit card related transactions. I'm always here to help.