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With bank feeds, what payee and account do I put the credit card payments?

I have a bank feed for my checking account and for my credit card.

I have payments in the bank feed for the credit card. How do I match it to the debit in my bank account? When I went to action and match to existing transaction, nothing comes up.


Thank you

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Best answer 12-10-2018

Accepted Solutions
Super Contributor *

Payee is credit card company name (vendor name) and the a...

Payee is credit card company name (vendor name) and the acct. is the credit acct. itself.

View solution in original post

6 Comments
Super Contributor *

Payee is credit card company name (vendor name) and the a...

Payee is credit card company name (vendor name) and the acct. is the credit acct. itself.

View solution in original post

Not applicable

I jsut tried that, and it says it was missing infomration...

I jsut tried that, and it says it was missing infomration. THe Account is what was highlighted.
The error that it says is that you cannot select the (credit card account) when processing downloded transactions from that account
Anonymous
Not applicable

If you are downloading your credit card transactions, use...

If you are downloading your credit card transactions, use whatever expense account is appropriate for each.  For payments to the credit card, use your checking account.
Super Contributor *

If you are downloading it in the credit card, then it wou...

If you are downloading it in the credit card, then it would be your bank acct.as the expense acct.

Frequent Explorer *

Re: I jsut tried that, and it says it was missing infomration...

The Payee is the credit card issuer, for example Capital One.  The account can be the company business checking account name.  If the payment is directly from a personal account then the account name can be either shareholder equity, shareholder loan, or something similar.

Established Community Backer ***

Re: I jsut tried that, and it says it was missing infomration...

There are Two Things you would download from Credit Card:

The Spending or Purchases

The Payment that reduces the balance

 

The Spending is just Spending, such as Staples for Office Supplies expense or Internet service. A return is the same concept = the reversal of the spending, such as Return of a bad toner = goes back to Office Supplies expense.

 

The Payment that reduces the running balance in the card, paid from Checking, is like a transfer between these two accounts. Make sure to Not Accept this as Add To File from both perspectives. If you accept it from Checking, the "expense" is the Credit Card Account. Now the CC download finds the Match. Or, the Payment found in the download from CC is from Checking, and then, later, the Checking download needs to Find the Match.

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