My bank changed my credit card from Visa to a new Master card. The Visa payoff is in the bank feed. How do I categorize this?

It is hard to understand what you are asking. Is your bank swapping one card for another, and transferring the balance onto the new card? You could add the new to card as new banking account, and then transfer the balance due on the old card by using "Transfer" where the from account is the new card and the to account is the old card. That will pay off your old card and create a balance due on the new card. 

Hello, @Jennifer529.

I am here to assist you with categorizing the payoff for your Visa credit card. 

To do this, you can visit the Bank Transactions page. However, I recommend that you seek the advice of a professional accountant to ensure that you are using the appropriate categories and to avoid any mistakes that could affect your account.

Here's how to categorize the transaction: 

1. Head over to Transactions tab and click on Bank Transactions. 
2. Select the account you want to review and click on the For Review tab to start your review. 
3. Click on Confirm or Review to choose the category. 

For more information on reviewing and categorizing downloaded bank and credit card transactions in QuickBooks, you can check out this article: Categorize online bank transactions in QuickBooks Online. 

You can also set up bank rules to categorize online banking transactions in QuickBooks Online. It will automatically categorize transactions for you.

Let me know if you need more help categorizing your transactions. I'm always here to assist. Have a great rest of the day!

My apologies for not being clear.  My bank changed my credit card from Visa to Master Card.  I see a last statement balance transfer in my bank feed on 4/10/2024 $1153.57 and then I see a auto pay for the same amount on 4/17/2024.  The bank said my Visa will still work until I activate the new Master Card which I have not received yet.  All my transactions are still coming in my bank feed correctly.  I am not sure if I have to deactivate the Visa in QB and re-activate it.  It appears I only need to edit the credit card info in QB.    The Auto pay is green.  The statement bal trans is not green.

04/17/2024 Automatic Thank You VISA - Wells Fargo Paired to another transaction             Received $1153.57                

04/10/2024 Last Statement bal from Visa                                                               Spent

                                                                                                                                 $1153.57                                                                                                                                  

Wells Fargo converted my Visa to a MasterCard.  I do not have the account number yet.  I have yet to receive the new card in the mail.  Do I need to deactivate the Visa and then reactivate?  Or do I just edit the card  information in QB? As I mentioned the transactions are downloading correctly.  But the only change is going to be the account number.

I appreciate you for the additional information you've shared, @Jennifer529.

Since a new account number will be issued for your replacement card, we will need to disconnect and reconnect your bank's connection after receiving the new card. This is to ensure that the new bank information is entered correctly and the old bank connection is stopped once the new bank account is activated. 

Also, please categorize your transactions in the For review tab before disconnecting. The transactions in this tab will be lost when disconnecting. You may want to contact your accountant for assistance with this process.

Here's how to disconnect your bank account:

1. Go to Transactions and select Bank transactions.
2. Choose the tile for the bank account.
3. Click the Pencil icon and select Edit account info.
4. Tick the Disconnect this account on save checkbox.
5. Select Save and Close.

Here's how to connect your bank account: 

1. Go to Transactions, then choose Bank transactions.
2. Select Link Account.
3. Type in the URL or name of your bank in the Search field, then select the bank.
4. Enter your sign-in information and click Continue. 
5. Select the account you want to connect and the date to pull transactions from the dropdown. Then, select Next.
6. Choose your account type on the Account type dropdown, then select Next.

Additionally, reconcile your accounts regularly to keep them accurate and up-to-date.

If you have any further questions or concerns regarding your banking transactions, please feel free to return to this thread. I'll be here to help you in any way possible.

I’m also in the same boat. 

Wells Fargo changed their Visa to Mastercard. 

my question is, since the Mastercard in a sense merged transaction or took over the outstanding amount, how do we reconcile that timeline when the switch happens? Does it stay on the Visa until the outstanding amount from the Visa is applied to the Mastercard? But, the Visa account in QB is lost when the Mastercard is activated within QB. What if you activate the Mastercard but you haven’t reconciled all of the Visa transactions? Can you go back to reconcile on the Visa or do you just keep reconciling the old transactions from the Visa on the Mastercard account in QB?

Thanks for joining the thread, @Microgreens SF. I'd love to provide the proper steps so we can connect your new Mastercard bank account to QuickBooks Online (QBO). 

First off, there's a need for us to categorize the transactions in your Visa bank account. This way, we can disconnect the Visa account once your Mastercard is activated. 

Here's how: 

1. Go to Transactions, then Bank Transactions. 
2. Select the account you want to review.
3. Select the For Review tab. 

However, if the transactions are not categorized and you've disconnected the Visa account, the transactions will possibly be missing. 

After this, we can now disconnect your Visa account. 

Here's how: 

1. Go to Transactions, then Bank Transactions.
2. Select the tile for the bank account.
3. Select the pencil icon, then select Edit account info.
4. Select the Disconnect this account on the save checkbox. (Note: If QuickBooks is downloading new transactions, you won't see this option. Wait a few minutes for the update to finish, and try again.)
5. Select Save and Close.

Once disconnected, we can connect your Mastercard bank account for your moving forward transactions. 

Additionally, I've added this article to help you learn how to reconcile your account so it will always match your bank and credit card statements: Reconcile an account in QuickBooks Online. 

If you need further assistance managing your bank feeds, please don't hesitate to reply to this thread. The Community is here to help. Have a nice day ahead! 

Once I receive the new M/C in the mail I need to activate it by calling the number on the back of the card, then sign into QB categorize any transactions on the visa in the review bank feed, deactivate visa in QB and activate M/C in QB correct?  Is this the correct order?  Or do I activate the M/C last?  I just want to make sure there are no hiccups.  I appreciate your help. 

I'm here to ensure your transition from your Visa Card to the new Mastercard in QuickBooks Online (QBO) goes smoothly, Jennifer. 

Once you've confirmed your new card is ready for use, we'll deactivate the Visa card in QuickBooks and activate the Mastercard. This allows transactions from your Mastercard to be imported into QuickBooks for accurate record-keeping.

Before proceeding, please ensure you've categorized any remaining transactions on the old Visa card in your QuickBooks bank feed.

If you need guidance on categorizing transactions, you can refer to the steps provided by my colleague @MAnneJ above.

Once your transactions are categorized, it's important to reconcile them to ensure your books are accurate and there are no duplicate entries. You can reconcile an account in QuickBooks Online using the provided link.

If you have any further questions or need assistance with your bank transactions, feel free to let me know by replying below. I'm always here to help. Have a wonderful day!