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Does anyone know how to properly connect a Bank of America Corp Account credit card that uses the credit card as a sub account and the Corp Account as the parent account?

 
7 Comments
QuickBooks Team

Re: Does anyone know how to properly connect a Bank of America Corp Account credit card that uses...

Hello there, @john21

 

Welcome to the Community. I can share some information about how to properly connect a Bank of America Corp Account credit card that uses the credit card as a sub-account and the Corp Account as the parent account in QuickBooks Online. 

 

You'll need to create a parent account that will be used for reconciliation then have every individual card set up underneath as a sub-account. The only account that should be connected to Bank Download Transactions would be the specific cards (sub-accounts).

 

This allows you to reconcile your bank's statement to the parent account since everything in your sub-accounts will roll up to the parent in order to be reviewed at the same time.

 

To know more about this process, please refer to these articles: 

That should guide you in connecting a bank account credit card that uses a credit card as a sub-account and the Corp Account as the parent account in QuickBooks.

 

Don't hesitate to let me know if you have further questions. I'll be around to help you out. Have a great day!

Frequent Explorer *

Re: Does anyone know how to properly connect a Bank of America Corp Account credit card that uses...

Thanks @BettyJaneBfor the reply.  However, my experience seems to be totally different and I don't know if it's because of the bank or what.  I spent two days and hours on the phone with QBO support trying to figure this out and they couldn't find a solution.  It wasn't until I did the opposite of what should be done.  I set up the parent account and the sub-account, no problem. When I connected only the sub account, the QBO balance on the bank balance would never match.  However, now that I've connected the parent account, and disconnected the sub account, the transactions and the balances match. 

Like I said, I don't know if it's the bank or what.  But all the transactions occur at the sub account level.  Payments are only applied to the parent account level.  And the balances from the sub account is moved to the parent account.    I have 2 accounts set up this way - a Parent and a Sub.  In one, the parent and sub act registers mirror each other sans the payments.  In the other, the sub account register is blank and all the transactions are in the parent.  Either something is a miss - or it's working just right.  I can't tell.  I do want to add though, that in the set of accounts where there are no sub acct transactions, yesterday, I added them all manually to the parent via csv file upload, and today edited the names of the accounts to make them match the parent/sub acct classification.  This could be why there are no transactions in the sub account.  I don't know.  

QuickBooks Team

Re: Does anyone know how to properly connect a Bank of America Corp Account credit card that uses...

I appreciate your detailed and prompt response, @john21

 

Allow me to provide additional information about this concern to get this sorted out. 

 

In this case, you'll need to reach out to your financial institution to know how your bank sends the downloaded transactions. If the transactions download to a single account, you'll just need to connect the parent account. However, if the transactions were downloaded to the individual accounts, connect the sub-accounts and not the parent account.

 

This should keep you moving today @@john21. 

 

Keep me posted if I can be of additional assistance. I'm always here to help. Wishing you and your business continued success.

Not applicable

Re: Does anyone know how to properly connect a Bank of America Corp Account credit card that uses the credit card as a sub account and the Corp Account as the parent account?

John, just wondering if you ever found the solution? I am tearing my hair out with this same exact issue.

Moderator

Re: Does anyone know how to properly connect a Bank of America Corp Account credit card that uses...

Thanks for looping in, skmx.

I appreciate you joining in this thread. Let me provide additional information regarding connecting a sub-account in QuickBooks Online.

 

As referenced by my peer above, 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.

 

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 the following articles:

 

For now, as a workaround, you can download transactions from your bank's website and upload them to QuickBooks Online using the WebConnect feature.

 

In case you want to discuss sensitive information, feel free to reach out to our QuickBooks Online Support. To reach us, please follow these steps:

 

  1. Sign in to your QuickBooks Online Company.
  2. Click (?) Help at the upper right corner.
  3. Select Contact US on the pop-up.
  4. Enter a brief description of your concern then hit Continue.
  5. Click Get a callback.
  6. Enter your contact information.
  7. Select Call me.

Don't hesitate to drop a reply below if you need more help in connecting your account in QuickBooks Online. I'm always here to help.

Not applicable

Re: Does anyone know how to properly connect a Bank of America Corp Account credit card that uses the credit card as a sub account and the Corp Account as the parent account?

I am struggling to help me client as well.  There are other threads out there with the same issue and as of 7/14 there still seems to be no fix made.  Wondering if anything has been fixed since then.

 

Moderator

Re: Does anyone know how to properly connect a Bank of America Corp Account credit card that uses...

Hi there, christineann.

 

Thanks for reaching out to the Community and doing a follow up.

 

If you're referring to connecting a Bank of America Corp Account credit card that uses the credit card as a sub-account and the Corp Account as the parent account.

 

As mentioned by my colleagues BettyJaneB and RoseMarjorieA, if the transactions download to a single account, you'll just need to connect the parent account. However, if the transactions were downloaded to the individual accounts, connect the sub-accounts and not the parent account.

 

However, if you mean something else about connecting Bank of America account, please let me know and provide additional information. This is for me to provide the best resolution for you. Have a great day!

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