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Credit cards and Balance sheet

I've never been hard core on fixing my CC accounts within my books, but my new acct wants everything tip top.  

I have 2 cards under one main cc account.  When making payments to the main account, I write a check to cover the online bill payment to the main CC account.  But on the balance sheet this comes in as main CC: other and a negative number.   What am I doing wrong here?

CC main is fully reconciled and looks great, but the numbers don't look pretty once you do a balance sheet.

4 Comments
QuickBooks Team

Re: Credit cards and Balance sheet

Hello there, BrandonPhoto.

 

I'd like to share with you some information about reconciling credit card account and balance sheet.

 

The amounts or balance showing on your balance sheet depends on the transactions entered to a specific accounts. When creating transactions from the credit cards you'll need to select the correct Expense accounts or Items.


A negative balance in Credit Card means that you have deposited amounts greater than expenses.

 

If you can let me know more about this, I would love to help you further. You have a wonderful day ahead.

Not applicable

Re: Credit cards and Balance sheet

When I make a credit to the main acct it comes in as a negative but will only go into an acct called main - other, which doesn't look right at all.  Maybe this image will help explain.
Thx

Brandon

Not applicable

Re: Credit cards and Balance sheet

 
Moderator

Re: Credit cards and Balance sheet

Thanks for getting back to us, BrandonPhoto.

I appreciate the screenshot you've provided. Let me help you sort this out.

 

To better isolate this issue, you may want to check the transactions associated with the Chase CC 77 main - Other. Ensure that the account you used is not the main one, but one of the two sub-accounts.

 

You may find this article helpful: https://quickbooks.intuit.com/community/Help-Articles/Resolve-a-Balance-Sheet-out-of-balance-in-Cash....

 

This will get everything nice and organized in your QBO account once again. Should you need more help with your credit cards and balance sheet report, please let me know.

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