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Multiple Credit Card Accounts

Forum|Forum|8 years ago
May 10, 2018
67 replies
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The company that I work for uses multiple American Express and multiple Chase credit cards for purchases. The thing is that some of the cards are registered in the owners name, and some of the cards are registered in the name of other employees. All the accounts in the owner's name, even from the same provider (with different account numbers) have been added (in banking). We are not able to add the other accounts from the same provider when they are registered under a different name. I need to add these accounts and get the download feed for the purchases and payments. So far, we have had no luck in adding these accounts.

Please help. I appreciate it.

Best answer by ClayJ

Hey there, Nathandh. I want to shed some light on this for you, so your books are right as rain. With QuickBooks and American Express, you will be able to connect one account. For more information on how American Express connects to QBO, take a look at this article: https://community.intuit.com/articles/1302337-american-express-connect-to-quickbooks#Key%20Benefits . For Chase, you will be able to connect more than just the one account. Since you have multiple cards for Chase, it is recommended you have one account as the parent/reconciliation account. Any other accounts associated with that line of credit should be sub accounts. Only the sub accounts should be connected via bank feeds. This action will allow the charges on the individual cards to funnel up to the parent account, where you will apply payments and reconcile. It should look something like this:

Parent (Reconcile) Account
>John’s Card xxxx
>Jane’s Card xxxx
>Josh’s Card xxxx

To create a sub account, follow these steps:

Click the Gear icon at the top, then select Chart of Accounts.
Choose New at the top.
In the Account Type drop-down, select the account type (Credit Card).
In the Detail Type drop-down, choose the type of account you want to create (Credit Card).
Enter a name for the account In the Name field.
Check the box for Is sub-account, and chose the parent (reconcile) account.
(Optional) In the Balance field (not available for all account types), enter an opening balance for the account. Then in the as of field, enter the date of the balance.
Click Save and Close(or Save and New if you want to enter another account right away).

Once you have entered in all of the accounts and mapped everything, you can start connecting your bank accounts. The reason for this process is to help avoid duplicate transactions and the system in general won't allow for the parent account to be connected while sub accounts are also connected. I've attached the article with additional information about this process: https://community.intuit.com/articles/1145370-setting-up-bank-or-credit-card-account-that-attaches-to-a-primary-account . Should you need anything else, I'm a comment away.

KathyS296

Do you have the online sign in information from the account owner?

Are you trying to download into separate GL accounts?

N

NathandhAuthor

I followed all the steps to add the account (in banking) and signed into the CC account. When I added the account, QB even said that it was added and would show up in the banking tab. But guess what. It did not show up.

Not sure what you mean by GL accounts.

ClayJAnswer

Hey there, Nathandh. I want to shed some light on this for you, so your books are right as rain. With QuickBooks and American Express, you will be able to connect one account. For more information on how American Express connects to QBO, take a look at this article: https://community.intuit.com/articles/1302337-american-express-connect-to-quickbooks#Key%20Benefits . For Chase, you will be able to connect more than just the one account. Since you have multiple cards for Chase, it is recommended you have one account as the parent/reconciliation account. Any other accounts associated with that line of credit should be sub accounts. Only the sub accounts should be connected via bank feeds. This action will allow the charges on the individual cards to funnel up to the parent account, where you will apply payments and reconcile. It should look something like this:

Parent (Reconcile) Account
>John’s Card xxxx
>Jane’s Card xxxx
>Josh’s Card xxxx

To create a sub account, follow these steps:

Click the Gear icon at the top, then select Chart of Accounts.
Choose New at the top.
In the Account Type drop-down, select the account type (Credit Card).
In the Detail Type drop-down, choose the type of account you want to create (Credit Card).
Enter a name for the account In the Name field.
Check the box for Is sub-account, and chose the parent (reconcile) account.
(Optional) In the Balance field (not available for all account types), enter an opening balance for the account. Then in the as of field, enter the date of the balance.
Click Save and Close(or Save and New if you want to enter another account right away).

Once you have entered in all of the accounts and mapped everything, you can start connecting your bank accounts. The reason for this process is to help avoid duplicate transactions and the system in general won't allow for the parent account to be connected while sub accounts are also connected. I've attached the article with additional information about this process: https://community.intuit.com/articles/1145370-setting-up-bank-or-credit-card-account-that-attaches-to-a-primary-account . Should you need anything else, I'm a comment away.

B

beyondbookeeping

I could still use some help with this if at all possible. When I first tried to hook up my credit card with multiple accounts I must have just rolled all of the accounts into one and now it will not let me separate them. This is the message I get "The account, Discover Credit Card:Nancy 6322, has a parent account that is already connected to an account at one of your banks" What can I do to correct this problem?

Rose-A

Level 10

I did not quite follow what you were telling me but this is what I had done. When I connected my Discover Credit Card with three different account numbers to Quickbooks Online it rolls them all into one. I set up the sub accounts as shown and tried it again and it still rolled them all into one. Is there anyway to separate them out? When I check the CSV file from Discover Credit Card there are six columns which are Trans. Date, Post Date, Description, Amount, Category, Card Number. In Quickbooks Online it looks to me like there are the options of only 3 or 4 columns of information which are Date, Description and Amount with one column or Amount in two columns. Am I doing something wrong or is there something else I can do to correct this?

Hello, beyondbookeeping.

Let me lend a hand in connecting your Discover Credit Card and provide you additional information about CSV file format.

Before connecting to Online Banking, you need to know how your bank sends the downloaded transactions. If the transactions download to one account, connect only the parent account. If the transactions download to the individual accounts, connect the subaccounts and not the parent account.

You may want to check your parent and sub-accounts setup, here's how:

Select the Gear icon on the Toolbar.
Under Your Company, choose Chart of Accounts.
Select New.
In the Account Type drop-down, select the account type.
In the Detail Type drop-down, select the type of account you want to create.
If more than one choice appears in the Detail Type field, select the type of account you want to create.
In the Name field, enter a name for the account.
Select Save and Close (or Save and New if you want to enter another account right away).

To add a sub-account:

Follow the procedure in the previous section to create a parent account.
Select the Is sub-account checkbox.
Then select the Enter parent account drop-down arrow and choose the sub-account's parent account.

Also, regarding CSV file format, here's a recommended article for your reference: https://quickbooks.intuit.com/community/Banking-and-bank-feeds/How-to-import-bank-transactions-using-Excel-CSV-files/td-p/185578.

You may find these articles helpful:

Keep me posted if there's anything else I can help you with connecting multiple credit cards and CSV file. I'm always here to help you out.

C

Credit Card AMEX

Has this been updated, Can you add more than one American Express Card?

M

MirriamM

QuickBooks Team

Thanks for visiting the Community, Credit Card AMEX,

I can provide information about connecting bank accounts.

Right now, you can only connect one American Express account into your QuickBooks Online company. Since connecting more than one American Express account might cause some syncing issues.

To know more about connecting American Express Business Card to QuickBooks, you may want to check this article: https://quickbooks.intuit.com/community/Help-Articles/Connect-your-American-Express-Business-Card-to-QuickBooks/m-p/188065.

If you have further questions concerning your QuickBooks Online account, please let me know. I'm always here to help.

Rose-A

Level 10

Hi, MDBR.

I can help and share with you some information about downloading transactions for main and sub-accounts in QuickBooks Online.

Before connecting to Online Banking, you need to know how your bank sends the downloaded transactions. If the transactions download to one account, connect only the parent account. If the transactions download to the individual accounts, connect the sub-accounts and not the parent account.

When initially connecting your account, the same opening balance transaction may download to all sub-accounts. You must delete all but one of these balances when you reconcile.

Some banks may show the overall bank balance at each sub-account level. This is because the bank provides us with a static balance of the entire account, not the balance of each sub-account.

You can get more details in this article: https://quickbooks.intuit.com/community/Banking-and-bank-feeds/About-bank-or-credit-card-subaccount-setup/m-p/186230.

For account discussion, feel free to reach out to our QuickBooks Online Support. To reach us, please follow these steps:

Sign into your QuickBooks Online Company.
Click (?) Help at the upper right corner.
Select Contact US on the pop-up.
Enter a brief description of your concern then hit Continue.
Click Get a callback.
Enter your contact information.
Select Call me.

Don't hesitate to drop a reply below if you have additional questions. I'll stick around to help.

M

MDBR

I believe I have the accounts connected correctly. The issue is that since we reconcile and post payments to the parent account, no payments show on the sub accounts. Therefore the sub accounts show balances that are a total of everything that's ever been charged, with no payments applied. Do I need to make journal entries to rectify that?

A

Anonymous

I'm here to help, @MDBR.

In your case, you'll have to reconcile first before creating a journal entry. If you do it the other way around, this will confuse the reconciliation process and will show duplicates.

When posting moving forward, you'll need to ensure these are allocated to the correct accounts so you can reconcile all the transactions easily.

Should you need other references for banking transactions, feel free to visit our site: Banking and Bank Feeds for QuickBooks Online.

Please let me know if you have further questions about your sub-accounts. I'll be more than happy to help out.

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