I have a business credit card account with Bank of America. The credit (payment) show in one account that oversee 4 credit cards( debits ) I wonder how to reconcile ?

I'm wondering if I need to merge the various credit cards account where the charges show under the account set up by bank of america where I pay  the credit cards monthly,

So basically all the transactions of the business credit cards will show under 1 account.

Of course I'm wary about doing this in case I mess up and lose all my data. I'm specially wary because quickbook support as not been able to help at all. They simply say disconnect and reconnect the account and process financial journal. I think the software is way better than that. They seems to be unable to understand my issue 

I canceled 2 cards but here is the issue. Reward 9668 is where I pay the credit card. 

Reward 4608 and 9788 are 2 credit cards that we use. In quickbook it's 3 account that are linked to Bank of America 

Any help will be greatly appreciated.

Good day, ericgillet.

I'd like to verify if the other accounts are sub-accounts.

When syncing them in QuickBooks Online, we only need to connect the account which Bank of America bank sends the transactions. If all transactions reflect only in Reward 9668, this is the only account you need to connect into QuickBooks.

We can only link one account, either the parent or the sub-account. Please refer to this article about bank or credit card sub-account setup.

I want to share this article for your guide in reconciling accounts in QuickBooks Online.

Please comment to this thread anytime. I'm looking forward to assisting you again. 

Thanks Alex,

This is helpful. I was able to link all the account because I did not set up them as parent/sub account.

The good news is that this is fairly recent.

Now my next question will be be: How to fix this? Can I simply edit the account now as parent/sub account?

Will I then wait the night batch and the expenses from the sub account will move to the parent account?

Many thanks.

Eric

Hi there, @ericgillet.

Thank you for trying my colleagues' @AlexV helpful steps. When correcting this, we will need to make sure we are making the right move when changing the account. Before making any edits to the QBO account, I do recommend to reach out to your accountant first. You want to make sure this is the right action for your account.

If you don't have support with making changes, I have a Find an Accountant and QuickBooks Live Bookkeeping link for you to review. These are the great opportunities we have available in needing help with your account. If you need assistance on knowing more about each one, I am only a Reply away, or we have chat support that is dedicated to getting you the help you need.

Please don't hesitate to reach back out if you need any further assistance-cheers to a safe and productive week ahead.

I think we agree about the solution. Moving those 3 account under 1 parent and 2 sub accounts. I'm wonder if Alex V could give a follow up about how to move forward with this solution without messing up QP data?

Many thanks

Support has no idea what this problem is. Fail

QB support does not understand the statements on BofA where there are separate transaction accounts and a sweep account.  Their "fix"does not work.

I'm also having this issue. We have multiple employee BofA cards under one corporate account and QBO does not recognize the transactions on the cards under the corporate account. The only transactions that download are payments made to the overall account and credit card interest charged.
In addition to this issue, we also have one other outlier card that shows up when you "connect to bank" but when I try to add that one to QBO Banking, it says that we've already connected to the main account so it won't let me connect to this other card.

Is there no solution for this? Do I need to cancel QBO since we have hundreds of transactions each month flowing through our B of A credit card.

Thank you!

Hi there, @KarenatTraver.

When connecting a bank account in QuickBooks Online (QBO), you'll need to identify first how your financial institution sends your downloaded transactions. If it downloads to only one account, connect the main one. But if it'll download to the individual accounts, you'll need to link the sub-accounts.

To do this, create a parent account and then have each individual card set up underneath as a subaccount. Here's how to create a sub-account:

1. In the left menu, click Chart of Accounts. 
2. Click the New button. 
3. Choose the account type and detail type.
4. Select Is sub-account and then enter the parent account.
5. Enter a name for the subaccount. You can also add a description.
6. Select an When do you want to start tracking your finances from this account in QuickBooks option Note: Only some account types need this, like bank, credit card, asset, and liability. 
7. Select Save and Close.

For more details about this, see this article: 

• Create subaccounts in your chart of accounts in QuickBooks Online
• About bank or credit card subaccount setup

Please know you can always reach out to me here for anything you need. I'll get back to you as soon as I can. 

It's been a while, did you find a solution? The only answer I can come up with up is to manually enter the transactions...

Hello bballshinobi!

Thank you for joining this post. You don't need to manually enter the transactions. Let me help you.

When your bank or credit card account has sub-accounts, you don't need to connect all of them. You only need to link the account where the bank sends the transactions. Then, when it's time for reconciliation, you only need to reconcile the parent account.

Please check these links. These will explain more on how to set up sub-accounts and how to balance your books:

• Reconcile an account in QuickBooks Online

• About bank or credit card subaccount setup

Post again here if you need more assistance with your bank transactions. Take care!

Thanks, 

The set up with the sub account has been done...but the transactions do not upload in quickbook. When I download manually the transactions, I can not even download the QB file as quickbook does not recognise it. I just download as an excel and reverse the number to a debit or credit.   It's a pain and you are right..I do not think I will use QB or Bank of America for payroll.

Eric

I'm a new QBO user following along, as I'm having the same problem.  For those not familiar, BofA uses a parent account (no card) that the sub accounts (each of the physical cards) feed into.  When downloading transactions, the parent account only show credits and the sub accounts only show debits.  I've reconciled the credit card account, however the bank balance and the QBO balances don't match.

I show a huge negative balance for the card account and a huge positive balance for the parent account, as the debits and credits don't seem to cross accounts in QBO like they do on the BofA side.

I've tried nesting these differently in the chart of accounts, but can't seem to find a way to make this work like I believe it should.  Hoping someone can help.

Thanks for sharing a good amount of details about your banking concern, travesty.

You'll want to transfer the transactions from the sub-account to the main one. This way, all debit and credit transactions are placed in one account and correct the balance. Here's how:

1. Go back to the Banking menu, then proceed to the sub-account.
2. Find and select the transaction to open it.
3. Select the Record as transfer radio button. Then, from the Transfer account dropdown, select the account the money was transferred to.
4. Click Record transfer.
5. Select the main or parent account to which you transferred the transaction.
6. Proceed to the For Review tab. Then select the Recognized filter from the dropdown.
7. Find the transaction. From the Action column, select Match so the transaction is matched in both accounts.

Otherwise, you'll need to exclude the downloaded transactions in the sub-account. Then, manually add or import them in the main account. Let me share these articles to guide you:

• Exclude a Bank Transaction You Downloaded Into QuickBooks Online 
• Manually Upload Transactions Into QuickBooks Online 

I would also recommend reaching out to our chat and phone support teams. They can take a closer look at this to check if there are other options you can do. Go to this article to get their contact details: QuickBooks Online Support.

Feel free to visit these articles for extra references when working in the Online Banking page:

• Unmatch Downloaded Bank Transactions or Move Them to Another Account
• Undo or Remove Transactions From Reconciliations in QuickBooks Online

Visit us anytime you have questions or other concerns. I'll be around to assist you again. Keep safe and healthy always.

While I this this is a workaround, from what I can tell, this also creates another problem:  All of my credit card transactions would be recorded as transfers and not be categorized anymore.  If so, I would lose a great deal of insight of spending trends on this card.

Thanks for following this thread, travesty.

The steps shared by Jeno are the closest workaround that you can use to resolve your issue with unmatch balances due to the downloaded transactions from your parent and sub-accounts. If this doesn't work for you, I suggest reaching out to your accountant for guidance on how to handle your type of situation.

You may also contact our QuickBooks Online Support. They can help look for additional troubleshooting options. Click on the QuickBooks Online drop-down to see the most updated support schedule: Support hours and types.

In case you'd like to work on reconciling your account, you can visit the following articles:

• Reconcile an account in QuickBooks Online
• Learn the reconcile workflow in QuickBooks

If you need further assistance managing your bank transactions, don't hesitate to reach back to me. Stay safe and have a nice day.

This is not an accountant issue.  This is a QBO is unable to fix the problem issue.  Quit trying to act like users don't know how to reconcile their account.  Bank of America Corporate statements do not pull in correctly to QBO period.  I download the transactions and upload each subaccount as a separate file.  QBO has many limitations and this is one.  

Actually, this is a Bank of America problem, not a QBs problem.  Bank of America does not have a main card number that all of the other cards post to.  QBs can only sync what the bank shows and the bank shows no activity on the main card except interest exp and payments and the sub accounts only show debits, no payments.  This is not a QuickBooks error.

I think the answer may be to create a "Main" credit card account of which the other two are subaccounts. Then reconcile the Main card, because it pulls in transactions for both subaccounts into one place. See: About bank or credit card subaccount setup (intuit.com)

I was having the same problem. I am a small business therefore I can look closer into the details. I keep receipts of all my transactions on my credit cards. The main account (Core Account) was not showing the transactions for the other "umbrella" accounts. The core account was only showing the "total" balance. Like everyone else, I tried linking the umbrellas to the core (parent)account. Not possible. What I did do was go to my uploaded receipts (fairly easy because I obtain most of my receipts via email or I use the QB App and take pics of my paper receipts during my spare time.) As I categorized my uploaded receipts from the "umbrella" accounts, I specified the "Bank/Credit account" as the designated "core/main" account. I completed the rest of the information as far as, type of expense, customer, category...etc. After this, since QB cannot match it to anything, I clicked "Create Expense"... and once I did this, all of the transactions appeared in my "Core account" perfectly matching to the balance with Bank of America. This is useful to me since I link all my receipts to their designated transactions anyway and this saves me time from manually having to input the expenses in the core account as journal entries. I don't know if this will backfire in any way, but it was the best solution that I personally was able to find. I hope this helps someone.

Disagree, whole lot of small businesses are struggling with the same problem. I believe that QBO caters to all banking platforms and Bank of America is not the smallest and definitely not the only one that has this way of grouping of transactions. QBO should have a easy to import and merge transactions from multiple CC and merge them to main corp account. Does not seem like unreasonable feature.

The issue remains to be solved.  My business is rather small, so I've been using other free online accounting program (Wave) without any issues on BoA credit card account.  I recently switched to QBO, and started having problem. 

I created one parent account (say, BoA-CC) manually and made all the BoA online account as the sub-account of the BoA-CC.  This way, the parent account (BoA-CC) is kind of okay, but the subaccounts are always of balances unless I manually create a transaction between these accounts.  I can't even run reconciliation on the individual accounts. 

I may need to go back to Wave at some point.

I want to make clear that this issue has not been solved despite what QB team say. I still need to upload manually my credit cards statements.