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Level 2

I pay off my business credit cards every month and reconcile. I did a partial payment just 1 month and don't know how to record/reconcile. Can't find any useful articles.

Should I use the "Pay down credit card" feature when I've only once payed my bill with a partial payment? I paid the full balance the following month and every month before and since then. Thank you in advance for any help at all!
1 Comment
QuickBooks Team

I pay off my business credit cards every month and reconcile. I did a partial payment just 1 month and don't know how to record/reconcile. Can't find any useful articles.

Hi there, SMT22.

 

To record the partial payment and the full balance that you paid the following month, I suggest using the Credit Card Credit feature. This option is to enter the payment to your liability to a credit card account. Just select the correct date and enter the exact amount you paid. And, using the "Pay down credit card" feature is not necessary in the process.

 

Here's how:

 

  1. Go to the Plus (+icon.
  2. Select Credit Card Credit.
  3. Select a payee and select an account beside the Bank/Credit account.
  4. Fill in the necessary information and enter the amount.
  5. Hit Save and close.

 

 

 

 

On the other hand, since you mentioned that you reconcile every month, the ending and opening balance of each period is always zero. However, as you have a partial payment, the ending balance and the opening balance would have the remaining balance of the unpaid portion of the credit card when you start the reconciliation. That said, the balance will carry over when you reconcile your recent transactions. To see the detailed information and steps on how to reconcile your accounts so they always match your bank and credit card statements, you can click this article: Reconcile an account in QuickBooks Online.

 

Please refer to this article to see different information about the causes of ending balance issues and how to fix them: Fix issues during a reconciliation in QuickBooks Online.

 

Let me know if there's anything else you need help with. I'm only a post away from you. Have a great one and keep safe!

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