Categorize Credit Card Revenue by Revenue Stream

vivekkpatel23 · ‎April 26, 2022

We have 2 types of patients - those that use their health insurance and those that pay directly. Both types of patients use one credit card card terminal and the line item in our checking account says "GLOBAL PAYMENTS GLOBAL DEP 202202 564 COMPANY NAME" along with the amt e.g $5. Based on this generic name, I am not sure which is revenue from health insurance payment like copays and what is revenue from patients paying directly.

I would like to have it be "GLOBAL PAYMENTS - Health Ins" if the payment is a copay and "GLOBAL PAYMENTS - Patient Direct Pay" if the patient is not using health ins and pays directly, so I could create a rule in QB. I contacted my credit card processor and they said there is no way to change the name of the line items depending on the type of transaction.

Currently, I am going transaction by transaction and categorizing it as either an ins payment or direct payment in QB which is taking forever. Is there a better way to do this? Thanks!

LeizylM · ‎April 27, 2022

Hi there, vivekkpatel23.

With this, we are unable to make any changes to your bank details within the account. It may be best to have your Master Admin reach out to your bank, so we can get your team up and running once again.

Feel free to visit our Help article page for more insight about managing your business in QuickBooks.

The Community will always have your back if you need anything else in QuickBooks Online. Assistance is just one click away. Take care always.

vivekkpatel23 · ‎April 28, 2022

Hello,

This is not a technical issue; it is more of a reconciliation question. It would be much easier to blanket categorize all these transactions as "Credit Card Revenue" a subaccount of Revenue, but afterward, I would need to categorize the revenue into the appropriate revenue stream. How would I go about doing this?

Candice C · ‎April 28, 2022

Good evening, @vivekkpatel23.

Let's work together to get these transactions categorized correctly.

The best route for this problem would be to download the webconnect file from your back, edit the descriptions within Excel, and then manually import that into QuickBooks Online so that you can batch categorize them accordingly.

You'll also need to exclude all the transactions (the ones that are already listed in QBO) that need to be categorized so that no duplicates will occur.

There's additional details in the hyperlinks I provided.

If you run into any trouble, don't hesitate to let me know. I'm only a comment away if you need me. Take care!

Topics

Training

Community

Resources

Categorize Credit Card Revenue by Revenue Stream