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Join nowMy small business checking and credit card accounts are with Wells Fargo. I have linked both accounts to QBO and it's working great! However, I'm unable to reconcile the credit card account because I don't know how to record the Wells Fargo Finance Charges from the bank feed. When I look Action under the Banking window, Add is the default option selected for the finance charges (not Find match or Record transfer). I don't know which vendor and category to assigned the Wells Fargo Finance/Interest charge. I want to assume that category would be some interest expense account; however, who should I select as the vendor (since Wells Fargo is not one of the vendor)? I see most people responding to similar posts by saying the finance charges will get entered during the reconciliation; however, when I go to reconcile, there's no option to enter the finance charge. I will really appreciate if someone can help me with this. I have spend close to three hours watching YouTube video and browsing this forum to no avial. All answer to date is either referencing a QBO interface that's different or QB Desktop. Please, help me.
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Hello there, VNeeplo,
On the Baking page, you can click the Add button to enter the charges. You don't need to select the Payee as the category/account used is correct. If you've successfully added it, you don't need to enter the charges when you reconcile.
Check out this article to learn more about reconciliation: Learn the reconcile workflow in QuickBooks.
Here's another one for reports: How do I view, print, or export a reconciliation report?.
Let me know if you need anything else.
Hello there, VNeeplo,
On the Baking page, you can click the Add button to enter the charges. You don't need to select the Payee as the category/account used is correct. If you've successfully added it, you don't need to enter the charges when you reconcile.
Check out this article to learn more about reconciliation: Learn the reconcile workflow in QuickBooks.
Here's another one for reports: How do I view, print, or export a reconciliation report?.
Let me know if you need anything else.
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