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How does the NEW feature "Pay down a credit card" work? Does it replace the bill entry or expense screen when paying a credit card payment?

Forum|Forum|6 years ago
December 6, 2019
3 replies
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QuickBooks Online

Best answer by vpcontroller

No, it doesn't replace Vendors Bill entry or Expense entry or Other/Transfer entry. This New Create "Pay down credit card" ( Create "+" New" Other > Pay down credit card) will simplify recording payments made to your credit balance entry for you, bit less confusion for users. You choose either one of those menus, the transaction journal will record your transaction the same way —it will debit to credit card account and credit to bank account.

Hope this helps!

G

GraceC

Level 4

Hello there, @elenorf12.

I can share some information about processing credit/debit card payments QuickBooks Online.

If you're referring to QuickBooks GoPayments, this feature allows you to accept customer payments on the go. Your clients can now make online payments using payment methods like credit cards, debit cards, and bank transfers.

You can check out this website to know more about our updated merchant charges: https://quickbooks.intuit.com/payments/

Please let me know if you have other concerns. I'll be right here.

E

elenorf12Author

Hello @GraceC, no there is a "New" option called "Pay down a credit card". Go to (+) icon>under other is "Pay down a credit card". Please see attached screenshot.

I would like to know how does the NEW feature work? Does it replace the bill entry or expense screen when paying a credit card payment?

Thank you,

Elenor

vpcontrollerAnswer

Level 7

@elenorf12 @GraceC

No, it doesn't replace Vendors Bill entry or Expense entry or Other/Transfer entry. This New Create "Pay down credit card" ( Create "+" New" Other > Pay down credit card) will simplify recording payments made to your credit balance entry for you, bit less confusion for users. You choose either one of those menus, the transaction journal will record your transaction the same way —it will debit to credit card account and credit to bank account.

Hope this helps!

E

elenorf12Author

Would this be a double entry now? Because if I'm entering it in the bill/pay bill as a entry that seems to be 2 entries. I guess I'm a little confused which way should I be using?

Cc: @GraceC

MariaSoledadG

QuickBooks Team

Hi elenorf12,

As mentioned by @vpcontroller, this doesn't replace Vendor Bill or Expense entry in QuickBooks Online (QBO).

You can either use the Vendor Bill entry or the Pay down credit card feature to pay for your credit card.

I would also recommend reaching out to your accountant to guide you on how to do the recording and check if it showing the correct report in QBO.

I have also included this link in case you have other questions about paying expenses: Pay Expenses And Bills.

Reach out to us if you need anything else. I'll make sure to help.

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