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Buy nowWe use 2 different reloadable prepay Visa Cards in the field for expenses as needed. We reload the cards from our bank checking account when the balance drops to a certain level. I receive the reloaded amounts in the bank feed as well as the receipts from our employees when they use the cards in the field. I need help with setting these up in the COA as well as any help with existing expenses on these cards regarding GL journal entries. Thanks!
Let me help you set up a prepaid Visa Card, Olec.
In QuickBooks Online (QBO), you can add more accounts anytime if you need to track other types of transactions. You can create two unique reloadable prepaid Visa Card accounts in your chart of accounts. To do so, follow the steps provided below:
To create a new account in the New account panel:
To give you the steps on how to create a new account in the New category panel or add an account in the business view setup, check out this article for detailed steps: Add An Account To Your Chart Of Accounts In QuickBooks Online.
On the other hand, regarding how you can track these accounts in General Journal Entries, I suggest reaching out to your accountant to guide you on how you're supposed to track debits and credits in a General Journal Entry. They are more knowledgeable when it comes to the accounting process and handling the financial statements of clients.
Apart from this, QuickBooks provides different reports that show information from your chart of accounts. You'll have to make sure to customize them so you'll get the data you need most. Go through this article for more details: Customize Reports In QuickBooks Online.
Let me know if you need further assistance with creating accounts. I'll be one post away if you need help.
Thank you. I consulted our accountant and now have an answer that will work for us.
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