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catwingz1
Level 1

Quickbooks Pro 2012 for Windows

Where is the +new button for credit card transactions in Quickbooks Pro 2012 for Windows? How are debits/credits able to be recorded?

I see the category in the Chart of Accounts but no way to enter anything. It looks like it would be simpler to just treat it like a bank account. What is the proper way?

28 Comments 28
jenop2
QuickBooks Team

Quickbooks Pro 2012 for Windows

The + New button is for QuickBooks Online, catwingz1. I'll provide the correct steps for QuickBooks Desktop.

 

If you haven't yet, you can start by setting up a credit card account within your chart of accounts. It's an essential step before recording credit card transactions.

 

Here's a step-by-step guide to set up a credit card account in QuickBooks Desktop:

 

  1. Open your chart of accounts and press CTRL+N on your keyboard altogether.
  2. Choose Credit Card and click Continue.
  3. Enter all required details and click Save and close.

 

cc1.png

 

Once done, go to the Vendor Center to record the credit card transaction. Let me show you how:

 

  1. Go to the Vendors menu and select Vendor Center.
  2. Right-click on the name of the vendor and select Enter Credit Card Charges.
  3. Select the credit card account in the Credit card field, then enter the expense categories in the Account column.
  4. Type in all other details including the date and amount.
  5. Click Save and close.

 

cc2.png

 

After that, QuickBooks will automatically post the debit and credits in the appropriate accounts. You can follow these steps on how to view the details:

 

  1. Open the credit card purchase/charge transaction.
  2. Go to the Reports tab and click Transaction Journal.

 

cc3.png

 

Let me share this article, which provides additional details about this feature: Setting up, using, and paying credit card accounts.

 

After receiving your credit card statement, you'll need to record the payment for your outstanding balance. QuickBooks offers two primary methods for this, depending on when you plan to make the payment:

 

 

Don't hesitate to drop by the Community if you have follow-up questions or if any other challenges arise when recording credit card purchases and other vendor-related transactions. We're always here to make sure you have all the information you need.

catwingz1
Level 1

Quickbooks Pro 2012 for Windows

Thank you @jenop2 

 

My Vendor Center drop down only offers Enter Bills, Pay Bills, Print/E-file 1099's, and Item List. It is quite limited when compared with your screenshot. Bill Tracker is not an option. 

 

Are there options for the 2012 version?

CamelleT
QuickBooks Team

Quickbooks Pro 2012 for Windows

Bill tracker is unavailable for QuickBooks Desktop (QBDT) 2012 version, Catwingz. Let me discuss the specifics below.

 

QBDT 2012 is different from more recent versions, which explains why your Vendor Center dropdown options are limited and don't match the screenshot shared by my colleague, jenop2. It's worth noting that the Bill Tracker feature you're looking for was not part of the 2012 release and was only introduced in later versions.

 

Additionally, if you're interested in utilizing this functionality and expanding your options, you can upgrade to a newer version of QBDT or manually enter the credit card charges and credit card payments in QBDT. 

{E6E5B69B-AD7D-4902-9F50-6BFD5207A9A2}.png

Moreover, I'll share this article to assist you in creating vendor reports that offer a comprehensive overview of your expenses and liabilities: Customize vendor reports.


If you have other questions about QBDT functionalities, leave a reply below. The Community is always available to help.

catwingz1
Level 1

Quickbooks Pro 2012 for Windows

My objective is to enter charges and payments to a credit card. I would think that since Pro 2012 has a special designation for credit cards that there must also be a way to enter the transactions.

 

If this is not the case, why offer the category?

 

If no solution is available I will switch it to being treated like a bank account. I would prefer to use whatever is the intended/correct method.

KayePe
QuickBooks Team

Quickbooks Pro 2012 for Windows

To efficiently manage your credit card transactions, navigate to Enter Credit Card Charges and Write Checks in QuickBooks Desktop (QBDT). To surely achieve your objectives, @catwingz1, let me assist you further.

 

Yes, you're correct that QuickBooks Desktop Pro 2012 offers a straightforward way to enter your credit card transactions, making it easier to track and manage them. To record your credit card charges, navigate to Enter Credit Card Charges in the Banking menu and select the Purchase/Charge option. I'll guide you through this process to ensure you understand how it works.

 

  1. From the Banking menu, click Enter Credit Card Charges
  2. Select the credit card you use in the CREDIT CARD dropdown and choose Purchase/Charge
  3. Put the important details and once done, hit Save & Close.

 

 

On the other hand, you can use the Write Checks feature when handling credit card payments. This allows you to select the bank account used for the payment and enter the credit card account in the Account menu. Follow the steps below for guidance.

 

  1. Choose Write Checks in the Banking menu. 
  2. In the Bank account, select the account you utilize when paying the with credit card. 
  3. Once done, put the credit card account in the Account dropdown and enter the amount afterwards.
  4. If finished, tap Save & Close

 

Write checks.png

 

Furthermore, if you consider upgrading your QBDT in the future, I recommend reviewing this article for additional help with handling credit card transactions in QBDT versions 2020 and 2021: Set up, use, and pay with credit card accounts.

 

Moving forward, it's important to note that reconciling your account is essential. This process ensures that your records align with your actual bank and credit card statements.

 

Remember, the Community is here to guide you. If you need further assistance with managing your credit card transactions or any QuickBooks Desktop concerns, feel free to reach out to me.

Chrea
Level 4

Quickbooks Pro 2012 for Windows

@catwingz1 

You may consider to use QB Desktop 2016 or 2017 to upgrade your version.

catwingz1
Level 1

Quickbooks Pro 2012 for Windows

Thank you @KayePe . This is what I was looking for.

How are payments to the credit card entered? As Refund/Credit or is there a more appropriate way?

 

(In response to all of the urging to upgrade by others - I have no interest in investing in another version when this one meets all of my needs.)

catwingz1
Level 1

Quickbooks Pro 2012 for Windows

Thank you @KayePe . This is what I was looking for. Are payments to the card entered as Refund/Credit or is there a more appropriate way?

catwingz1
Level 1

Quickbooks Pro 2012 for Windows

Thank you @KayePe 

This is what I was looking for. Are payments to the card entered as Refund/Credit or is there a more appropriate way?

GenmarieM
QuickBooks Team

Quickbooks Pro 2012 for Windows

Thanks for getting back, catwingsz1. Let me add information about entering credit card payments to QuickBooks Desktop (QBDT).

 

Purchase/Charge is the default option when entering charges or payments. On the other hand, Refund/Credit is used if you want to record a credit or refund you received through the credit card.

 

Moreover, you can check out this article for detailed steps and information about entering credit card charges and refund: Set up, use, and pay credit card accounts.

 

Furthermore, after entering transactions you can run report  for a comprehensive overview of your company's financial health and monitor the progress of your business.
 

Keep us posted if you have other questions regarding recording credit card charges and refunds in QuickBooks Desktop (QBDT). The Community is always here to lend a hand.

catwingz1
Level 1

Quickbooks Pro 2012 for Windows

Thank you @GenmarieM 

That helped.

 

That said, this appears to be a step-by-step process. 

I am attempting to reconcile my first statement. There was one charge at the end of the month, thus a starting balance of 0, an ending balance the amount of the charge. The charge was applied to an expense account.

 

When I try to reconcile the credit card the outcome is out of balance with the amount of the charge doubled. This is not what a bank account would do. What am I missing?

catwingz1
Level 1

Quickbooks Pro 2012 for Windows

Thank you @GenmarieM , that helped.

That said, this appears to be a step-by-step process.

 

The first month for this card has a single charge at the end of the month. Thus, the beginning balance is 0, the ending balance the amount of the charge. The charge was applied to the appropriate expense account. When I try to reconcile, the outcome is the amount of the charge doubled, thus out of balance. This is not what happens with a bank account. What am I missing?

catwingz1
Level 1

Quickbooks Pro 2012 for Windows

(if this is duplicated it is because my browser is having a terrible time with this form)

Thank you @GenmarieM , that helped.

That said, this appears to be a step-by-step process.

 

The first month for this card has a single charge at the end of the month. Thus, the beginning balance is 0, the ending balance the amount of the charge. The charge was applied to the appropriate expense account. When I try to reconcile, the outcome is the amount of the charge doubled, thus out of balance. This is not what happens with a bank account. What am I missing?

KayePe
QuickBooks Team

Quickbooks Pro 2012 for Windows

Hello there, @catwingz1.

 

Let me clarify the step-by-step process to you when entering a credit card charges in QuickBooks Desktop to avoid duplicates and ensure a smooth understanding of the process.

 

As mentioned earlier, when entering credit card charges in QBDT, record them as a Purchase/Charge in the Banking menu. When paying these charges, use the Write check function. In your case, you may have recorded the credit card charges twice, which is why the amount appears to be doubled. To reconcile your account successfully, you can delete the duplicate transaction.

 

Here's how: 

 

  1. From the File menu, and Switch to Single-user mode.
  2. Go to the Accountant and tick Batch Delete/Void Transactions.
  3. Select the transaction you want to delete and choose Review & Delete.
  4. Click the Back Up & Delete dropdown and pick Delete only, then tap Yes.

 

DLETE TRANSACTION.png

 

Throughout this process, consulting your accountant can be highly beneficial. They can assist you at every step and review your recorded transactions for accuracy.

 

Additionally, to gain a deeper understanding of the process, you can explore this link and review the section on Paying credit card charges: Set up, use, and pay credit card accounts

 

Moreover, here are some resources to further assist you in managing your account reconciliations in QBDT:

 

 

As you navigate your accounting tasks with QBDT, remember that you’re always welcome to seek assistance here in the Community. I’m here to guide you in managing your business effectively. 

catwingz1
Level 1

Quickbooks Pro 2012 for Windows

Hi @KayePe ,

There is a misunderstanding here. I entered the credit card transaction once using the Banking>Enter Credit Card Charges path. If I delete it there will be no transaction to reconcile. See the attached screenshot(s). What I am being confronted with makes no sense.

Please advise.

Thank you

Clark_B
QuickBooks Team

Quickbooks Pro 2012 for Windows

Having issues with a doubled charge of the transaction during reconciliation will surely delay your working progress, @catwingz1. Allow me to chime in and share some troubleshooting steps to help you resolve the double charge.

 

To start, it seems you've entered the credit card transaction only once. However, when reconciling your account, the charge appears to have doubled. This issue might be due to using an outdated version leading to data inconsistencies.

 

To resolve this, we can use the verify and rebuild tools in QuickBooks Desktop (QBDT). These tools help address data issues in your company file that might be causing unexpected behavior, such as the charge amount doubling. The verify tool identifies common problems in your company file, while the rebuild tool works to fix them.

 

Here's how:

 

  1. Go to Window, then select Close All.
  2. Go to File, then choose Utilities.
  3. Select Verify Data. If you see:
  4. QuickBooks detected no problems with your data — your data is secure, so you don't need to do anything else.
  5. If you see an error message – you can search on our QBDT support site to learn how to fix it.
  6. If your data has lost integrity – damage to your data was found in the file and we have to rebuild your data.

 

If you need to rebuild the data in your company file, please follow the steps provided below:

 

  1. Go to File, then select Utilities.
  2. Click on Rebuild Data.
  3. Follow the on-screen instructions, then press OK.
  4. Select the place where you want your backup file to be saved, then tap OK.
  5. Enter a new name in the File name. Click Save.

 

Please refer to the article below, which provides detailed instructions on the steps I outlined earlier: Verify and Rebuild Data in QuickBooks Desktop.

 

Additionally, I recommend reviewing this article which provides comprehensive instructions and insights on accurately entering credit card charges and processing refunds: Set up, use, and pay credit card accounts.

 

Furthermore, check this article to learn how to address discrepancies between your accounts and bank statements at the end of reconciliation: Fix issues when you're reconciling in QBDT.

 

Please let me know how it goes, @catwingz1. If you have any more questions or need further assistance about the doubled charge, feel free to reach out. We're here to ensure your experience remains smooth and satisfactory.

catwingz1
Level 1

Quickbooks Pro 2012 for Windows

@Clark_B 

The good news is that the VerifyData process came back with no problems.

 

Upon closer examination of the reconciliation screen I realized the transaction was on the wrong side, Payments & Credits. I went back in and edited the transaction and the reconciliation now balances.

Problem solved 

 

One more question - Are credit card finance charges entered in the same place as charges? I have a separate account set up for this purpose but want to make sure while on the topic.

Thank you

IrizA
QuickBooks Team

Quickbooks Pro 2012 for Windows

 I'm glad to hear your reconciliation has been successfully balanced, catwingz1. It's also great that you've set up a separate account for finance charges. Let me explain why this is beneficial.

 

While you can record your finance charges in the same area as your regular charges, it's important to keep them in a separate account. This helps in clearly tracking financial activities and simplifies the reconciliation process.

 

You can also access this article to learn more about finance charges: Assess finance charges.

 

Please let me know if you have additional questions regarding financial charges. I'll be glad to assist you further.

catwingz1
Level 1

Quickbooks Pro 2012 for Windows

@IrizA, this is not what I am asking about. This is all about credit cards.

 

To rephrase, how do I enter interest accrued on a credit card? Since the reconciliation screen for credit cards has a separate line for Finance Charge I somehow doubt that these are intended to be entered in the same way as Purchase/Charge. What is the correct method?

catwingz1
Level 1

Quickbooks Pro 2012 for Windows

@IrizA  That is not what I am asking about. This is all about credit cards.

 

To rephrase, since the reconciliation screen has a separate line for Finance Charge I do not believe interest charges for a credit card should be entered in the same way as Purchase/Charge. What is the correct method?

catwingz1
Level 1

Quickbooks Pro 2012 for Windows

@IrizA  That is not what I am asking about. This is all about credit cards.

 

To rephrase, since the credit card reconciliation screen has a separate line for Finance Charge I do not believe interest charges for a credit card should be entered in the same way as Purchase/Charge. What is the correct method?

CamelleT
QuickBooks Team

Quickbooks Pro 2012 for Windows

Let me guide you in entering the interest accrued on a credit card in QuickBooks Desktop (QBDT), Catwingz.

 

Entering the finance charges in QBDT will depend on what account you choose. If it's a deduction, you'll need to use an Expense account. However, if it's an increase of income, use an Income account.

Moreover, if the interest accrued increases your income, you'll need to enter them under the Finance Charge section, but select a designated Income account. Here's how:

 

  1. Enter the date and amount of the interest charge.

    finance charge.png

  2. From the Account dropdown, choose the income account allocated for these charges. If you haven't made one, click < Add New >.

    add new.png

  3. Choose Income in the Account Type dropdown.

    income account.png

  4. Enter an account name for the interest charges and complete the other necessary fields.
  5. Hit Save & Close.

Furthermore, I'll share this article that offers guidance on how to address any discrepancies you may encounter between your QBDT accounts and your bank statement when you complete the reconciliation process: Fix issues when you're reconciling in QuickBooks Desktop.

If you have other questions, click the Reply button below. The Community team is always available to help you.

catwingz1
Level 1

Quickbooks Pro 2012 for Windows

Interest charges on this credit card are an EXPENSE, not income. My business will be charged, not a customer. Rather than entering these charges as a Purchase or Charge I believe there is a specific way to enter these expenses.

JoesemM
Moderator

Quickbooks Pro 2012 for Windows

Thank you for your quick response, catwingz1. I'm here to join and share insights about the process.

 

Since the charge is related to interest on your credit card, you should record it under an Expense account. You can follow the instructions provided by my colleague and, in step 3, select Expense account as the Account Type.

You can open this article for guidance on reconciling your accounts to match your bank and credit card statements: Reconcile an account in QuickBooks Desktop.

 

Additionally, I'll be sharing these resources that guide you in running a reconciliation report to see if there's any transactions change in your account:

 

 

If you have additional questions about recording the interest charge or any concerns related to QuickBooks, please don't hesitate to ask. We're here to help.

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