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mimiscottage
Level 1

Cash Rewards Business Credit Card SubAccounts

I have a business with a main bank account and 2 credit card sub accounts.  I just received promotional credit on my main bank account and accounted for it by using an "other Income" account for reward points.  The problem is when I enter the amount I credited it to my main bank account.  My sub accounts aren't affected and now the totals are thrown off from the bank statement.  Do I need to split that amount amongst my sub accounts?

Solved
Best answer October 14, 2020

Best Answers
JonpriL
Moderator

Cash Rewards Business Credit Card SubAccounts

Hello @mimiscottage,

 

You don't have to split any amount. Let me help share a few insights about how the parents and sub-accounts account set up and how your transaction is posted.

 

When you've assigned a sub-account under a parent account, the transactions in each sub-account will accumulate the total balance of the parent account.

 

Since you wanted to post the promotional credit into the sub-account register, consider changing the affected account into one of your sub-accounts so it'll post a credit into the corresponding register.

 

Additionally, I've also included this helpful article for the steps you need to take once you need to match the balance of your bank or credit card account with your monthly statement: Reconcile an account in QuickBooks Desktop.

 

You can always leave a comment below if you have any other questions. Stay safe!

View solution in original post

2 Comments
JonpriL
Moderator

Cash Rewards Business Credit Card SubAccounts

Hello @mimiscottage,

 

You don't have to split any amount. Let me help share a few insights about how the parents and sub-accounts account set up and how your transaction is posted.

 

When you've assigned a sub-account under a parent account, the transactions in each sub-account will accumulate the total balance of the parent account.

 

Since you wanted to post the promotional credit into the sub-account register, consider changing the affected account into one of your sub-accounts so it'll post a credit into the corresponding register.

 

Additionally, I've also included this helpful article for the steps you need to take once you need to match the balance of your bank or credit card account with your monthly statement: Reconcile an account in QuickBooks Desktop.

 

You can always leave a comment below if you have any other questions. Stay safe!

View solution in original post

mimiscottage
Level 1

Cash Rewards Business Credit Card SubAccounts

Thank you!

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