Thank you. I have a follow-up questions. Let's assume that the individual expenses were entered into QB via a feed from the CC bank. And further assume they are in the CC register, and I've assigned expense categories to each of them
If I then enter a J/E where the debit side is the expense account and the credit side is Owner's Equity, won't that "counterbalance" (or cancel out) the original expense? Is there anything wrong with me just entering a transaction into the CC register that comes from Owner's Equity? For what it's worth, I use QBD, not QBO.
@Jovychris_A Wouldn't using the expense account in a journal entry zero out the expense that is entered elsewhere? Any reason I can't just enter a transaction into the CC register that uses Owner's Equity as the account, to make the CC account balance 0?