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How to record a Fuel Card

I have a question on how to properly record transactions from a fuel card.  I am leased onto a trucking company. For fuel, we take an $ advance from the current job and it is placed on a Fuel card. Then at the truck stops the fuel card is used as payment, this allows for discounts at certain stops.  Then once we receive our settlement check the fuel advance has already been deducted from our pay.  The fuel card can't be used unless money is already on it so it is not a Credit Card in traditional sense.  So my question is should I set up the Fuel card as a Credit Card in QB, using the advance as a payment to the card and the fuel receipts as the charges? Or should I set it up as a bank account? 

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Best answer 03-18-2019

Accepted Solutions
QuickBooks Team

Re: How to record a Fuel Card

Hello there, @sharrington55.

 

I appreciate you providing details and posting here today. I can help you record the fuel card in QuickBooks Desktop.

 

You can set up and use a credit card account to help you keep track of the charges and the payments made for the expense. Here's how:

  1. Click Lists.
  2. Choose Chart of Accounts.
  3. Right-click on your account, click New.
  4. Select Credit Card and click Continue.
  5. Enter the card name.
  6. Click Enter Opening Balance and click OK.
  7. Click Save and close.

1.PNG

Next, the fuel receipts should be entered as a credit card charges. Here's how to do it:

  1. Click Banking.
  2. Select Enter Credit Card Charges.
  3. Select the Credit Card account.
  4. Enter the necessary information.
  5. Select Save & Close.

2.PNG

Lastly, you'll have to write a check for the payment. For in-depth information, please refer to this article: Set up, use, and pay credit card accounts.

 

If you're using QuickBooks Self-Employed (QBSE), you don't have the option to add a bank or a credit card account. In order for the transactions to be recorded, you'll have to manually add and categorize them. 

 

That should get you on the right track, sharrington55.

 

If there's anything else you need, just add a comment below. I'm still here to help you more. Have a good one!

View solution in original post

1 Comment
QuickBooks Team

Re: How to record a Fuel Card

Hello there, @sharrington55.

 

I appreciate you providing details and posting here today. I can help you record the fuel card in QuickBooks Desktop.

 

You can set up and use a credit card account to help you keep track of the charges and the payments made for the expense. Here's how:

  1. Click Lists.
  2. Choose Chart of Accounts.
  3. Right-click on your account, click New.
  4. Select Credit Card and click Continue.
  5. Enter the card name.
  6. Click Enter Opening Balance and click OK.
  7. Click Save and close.

1.PNG

Next, the fuel receipts should be entered as a credit card charges. Here's how to do it:

  1. Click Banking.
  2. Select Enter Credit Card Charges.
  3. Select the Credit Card account.
  4. Enter the necessary information.
  5. Select Save & Close.

2.PNG

Lastly, you'll have to write a check for the payment. For in-depth information, please refer to this article: Set up, use, and pay credit card accounts.

 

If you're using QuickBooks Self-Employed (QBSE), you don't have the option to add a bank or a credit card account. In order for the transactions to be recorded, you'll have to manually add and categorize them. 

 

That should get you on the right track, sharrington55.

 

If there's anything else you need, just add a comment below. I'm still here to help you more. Have a good one!

View solution in original post

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