Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Connect with and learn from others in the QuickBooks Community.
Join nowPlease tell me how to clear individual employee balances on a company credit card. I remember someone telling to write a "fake" check but don't remember the details. The other was to write a journal entry but I'm just the "in office" bookkeeper and don't want to upset the accountant. How-to's for each or any technique would be most appreciated!
Hi there, @vrw. I'm here to help you with your concern.
Journal entries are used as a last resort to enter transactions between accounts in a specific and balanced way. If you need to clear the balances of your employees' company credit cards, I recommend creating a journal entry.
Keep in mind that creating a journal entry requires understanding debits and credits. I suggest consulting with your accountant to ensure that you have accurate information.
Follow these steps to create a journal entry:
For more detailed information on creating journal entries, please check out the Create journal entries in QuickBooks Online article.
Additionally, here's a link that can help you reconcile your accounts effectively in QuickBooks Online (QBO): Reconcile an account in QuickBooks Online.
I’d really appreciate any additional information. Please leave a comment and add it to your response. I’ll do everything I can to help you. Have a good one!
Thanks so much for your prompt reply! Just to give you a little more info, I have all the employees' cards listed as sub-accounts under the main cardholder. I have a reconcile account that all the sub-accounts funnel into. Since payments are credited to the main account holder only, I always had unpaid balances on the employees' accounts and credits (overpayments) on the main account.
What bothers me, though, is that at one time there was a way to take the payment and break it down, assigning the amounts needed to clear the individual employee cards. You could choose a dollar amount and if it was less than the payment you made, you would have the option of selecting another card number to credit the payment to. I've either forgotten how I used to do that or it's no longer available. 'Just to double check, when doing the journal entry, do I debit the account I'm taking money from or the account I'm paying off? All I remember about bookkeeping in high school was that debits and credits seemed backwards when applying them. I so appreciate your help. ~ (removed)
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.
For more information visit our Security Center or to report suspicious websites you can contact us here