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lgmlemmontree
Level 1

How to reconcile credit card within 2 companies - 1 credit card has charges between 2 separate companies?

 
3 Comments 3
KhimG
QuickBooks Team

How to reconcile credit card within 2 companies - 1 credit card has charges between 2 separate companies?

Good day, @lgmlemmontree.


The reconciliation process is done through the chart of accounts of the company where the credit card is. Follow the steps below:

  1. Click Accounting in the left navigation and choose the Reconcile tab.
  2. Pick the credit card from the Account drop-down.
  3. Enter the Ending balance and Ending date.
  4. Manually fill out the necessary fields in the Enter the service charge or interest earned, if necessary section. 
  5. Hit Start reconciling.
  6. Compare your bank statement and the list of transactions showing in QuickBooks, then mark them as reconciled. 
  7. Hit Finish now.

For the details and screenshots of the steps, take a look at this article: Reconcile accounts in QuickBooks Online


Even if the cc is used to pay for charges made for two companies, only reconcile it on the chart of accounts where it was added. I also recommend consulting an accountant before performing those steps to ensure your books are correct.


Please reach out to me if you need further assistance. I'm always here to help. Have a good one!

Bethany Faith
Level 1

How to reconcile credit card within 2 companies - 1 credit card has charges between 2 separate companies?

Hello,

 

I'm not sure if I missed some steps but I followed  the steps provided, the CC Statement and my QuickBooks is not matching because some of the charges were entered in a another company file.  What do I need to do so I can reconcile by Credit Card that I used to pay my bills/ expenses within two companies?  One credit card has charges between 2 separate companies.

 

Your help is much appreciated.

 

Thank you,

Bethany

SarahannC
Moderator

How to reconcile credit card within 2 companies - 1 credit card has charges between 2 separate companies?

Good day, Bethany. It's my pleasure to help you out with your concern.

 

You can record the charges in your two company files, so transactions will match your credit card statement. If there's a lot of transactions to be inputted in your book, I would recommend importing them using the CSV file format. This way, you'll be able to match them.

 

Let me walk you through on how to record the charges manually:

  1. From the main menu, click Accounting.
  2. Select the Accounting and look for the credit card account.

 

Once done, you can check out these articles where you can surely get more details about reconciling your account:

 

You can always mention me anytime if you need further help with this. Take care!

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