when reconciling a credit card that you want to pay by transfer, which reconciliation option do you choose? (ie "Pay all or a portion..." or "enter a bill to pay later", or "Done"

Angela1234 · ‎February 04, 2019

My business credit card is set up with the bank so that my checking account automatically pays it each month. I would like to set up the transaction as a transfer each month. My question is: When reconciling the credit card (that you want to pay by transfer), which reconciliation option do you choose at the end of the reconciliation to facilitate that? (ie "Pay all or a portion..." or "enter a bill to pay later", or "Done" or ? I know you shouldn't use "enter a bill" but that's it. I have everywhere but can't seem to find the answer.

Thank you

Anonymous · ‎February 04, 2019

Hello, Angela1234.

You can select Done since your checking account was set to automatically pay your credit card account. Below are the things you must consider when deciding which option to choose.

Pay all or a portion of the bill now — takes you to the Check screen with full amount listed. For partial payments, enter the amount that you actually paid.
Enter a bill to pay later — takes you to the Bills screen with full amount listed. For partial payment, change the amount to what you intend to pay. If you're unsure, you can leave the full amount and edit later to reflect the actual amount paid. This option moves the balance in the credit card account to Accounts Payable.
Done —If users don't want to record credit card balance payment or bill when reconciling (or if they did it beforehand already), they can select Done.

Please visit us again if there’s anything else you need. We’ll always be here to help.

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Anonymous · ‎February 04, 2019

Hello, Angela1234.

You can select Done since your checking account was set to automatically pay your credit card account. Below are the things you must consider when deciding which option to choose.

Pay all or a portion of the bill now — takes you to the Check screen with full amount listed. For partial payments, enter the amount that you actually paid.
Enter a bill to pay later — takes you to the Bills screen with full amount listed. For partial payment, change the amount to what you intend to pay. If you're unsure, you can leave the full amount and edit later to reflect the actual amount paid. This option moves the balance in the credit card account to Accounts Payable.
Done —If users don't want to record credit card balance payment or bill when reconciling (or if they did it beforehand already), they can select Done.

Please visit us again if there’s anything else you need. We’ll always be here to help.

Angela1234 · ‎February 04, 2019

Thank you!

AlcaeusF · ‎February 04, 2019

Hi again, Angela1234.

Thank you for getting back in the Community.

On behalf of my colleague @Anonymous, I would like to say you're welcome. We're always available here in case you have additional questions or concerns.

Please remember you can always reach to us here by posting a response or starting a new thread. I'll be on a lookout for your response.

WandS2000 · ‎June 05, 2019

I am so glad to see someone else ask this question. I did not see the option of "done" before, so I hope I am able to see it come next time I reconcile. However, since I was not aware of that, I ended up "saving as a bill to pay later" kind of option, so now i have reconciled bill payments in my "pay bills" for our company, how can I 0 that out now?

I hope this makes sense =)

Thanks

Anonymous · ‎June 05, 2019

Hey there, @WandS2000,

I appreciate the time you've given sharing this with the Community. I can add a bit more about reconciling a credit card account in QuickBooks Online.

Since you choose the Enter a bill to pay later option, this process increases our Accounts Payables. To deposit the amount on your credit card account and zero out the A/P balance, you'll need to use the Pay Bills feature. To do that, follow the steps below:

Click the Plus (+) icon.
Select Pay Bills.
Click the bills you've created.
Enter the Payment account and other details of the payment.
Tap on the Save and Close button.

Once you're done, you can now reconcile the bills. Here's an article I've added to guide you with the reconciliation process: How to reconcile accounts?

You can also check out this video tutorial for the steps: Reconcile your accounts

That should get your work done. If you have any questions with the steps, please update me in the comments section below. I'll be glad to help you anytime. Have a great day!

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when reconciling a credit card that you want to pay by transfer, which reconciliation option do you choose? (ie "Pay all or a portion..." or "enter a bill to pay later", or "Done"