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heppy-neural-net
Level 2

Issue with US Bank Central Billing Account in QuickBooks Online

I'm encountering an issue with my QuickBooks Online account and need your assistance. 

Here's a description of my situation:

I have a business checking account and a credit account with US Bank.
My credit card is set up with central billing, meaning multiple employees can use different credit cards linked to one central account.
In QuickBooks Online, when I make payments from my checking account to the credit card, it's processed through this central billing account.
This creates a discrepancy in QuickBooks because the company credit card number doesn't match the centralized billing account number used for payments.

My question is: How can I reconcile this difference in QuickBooks Online? Is there a way to set up my account to accurately reflect this central billing system while still maintaining proper tracking of individual credit card expenses?
4 Comments 4
GebelAlainaM
QuickBooks Team

Issue with US Bank Central Billing Account in QuickBooks Online

Thank you for your providing a thorough description of your concern, Jeremy. Let me guide you through properly setting up your business accounts and reconciling them so your records remain accurate.


In QuickBooks, the most common way to set up a bank account or credit card account with multiple associated cards is to create a parent account, and then set up each individual card underneath it as a subaccount. I'll show you how.
 

  1. Go to the Gear icon and select Chart of accounts.
  2. Click New.
  3. Enter an Account name.
  4. Select an Account type, and then choose the Detail type from the dropdowns.
  5. Tick the Make this a subaccount box if this account is a subaccount, then choose the Parent account it should be under.
  6. If you choose a Bank, Asset, Credit card, Liabilities, or Equity account, enter Opening Balance, and fill out the starting date in the As of field.
  7. Select Save.
     

From your Chart of Accounts, the parent and subaccounts look like this:

image (2).png

If you have an additional account that transactions such as payments come into, you may need to add one more subaccount, and should be look like this:

image (3).png
 

When it’s time to reconcile, you only need to reconcile the parent account because all transactions in the subaccounts roll up into it. Here's an article for a step-by-step guide: Reconcile an account in QuickBooks Online.

Please be aware that when you initially connect your account, the same opening balance transaction may be downloaded to all subaccounts. Wiht this, you must delete all but one of these balances during reconciliation. Moreover, some banks display the total account balance at each subaccount level since they provide a static overall balance instead of individual subaccount balances.

 

Additionally, you can check out these articles for more details about managing credit card account with multiple subaccount: About bank or credit card subaccount setup.

Furthermore, I've added these articles for guidance and solutions if you encounter reconciliation issues or want to export them in the future.

 

Please reply to this thread if you need further assistance with banking concerns. I'm here to help you.

heppy-neural-net
Level 2

Issue with US Bank Central Billing Account in QuickBooks Online

What's the Gear button? Where is it?

heppy-neural-net
Level 2

Issue with US Bank Central Billing Account in QuickBooks Online

i already have set up the credit card accout. Now i need to add central billing account. How to do this?

DebSheenD
QuickBooks Team

Issue with US Bank Central Billing Account in QuickBooks Online

I'm glad to help you with setting up your Central Billing account, Jeremy.

 

With a central billing account, you get to have more control over your business expenses by allowing you to manage and track your spending more easily.

 

Here's how:

 

  1. Go to Transactions, then select Bank transactions (Take me there).
  2. Select Link Account.
  3. Enter the URL or name of your bank in the Search field, then select the bank.
    Note: If you can’t find your bank, you can manually upload transactions instead.
  4. Enter your Sign info in the Login and Password fields, then select Continue.
  5. Select the account that you want to connect and date to pull transactions from the dropdown ▼. Then, select Next.
    Note: Some banks let you download the last 90 days of transactions. Others can go back as far as 24 months.
  6. Select your account type on the Account type ▼ dropdown, then select Next.
    Note: Choose the account type that matches your chart of accounts in QuickBooks. If you don’t see the correct account type, select +Add new.
     

For more details, please see this article: Connect Bank and Credit Card Accounts to QuickBooks Online.


Once done adding your new account, I'd suggest checking out these articles that'll help you manage your bank transactions.
 

 

It would be great if you could keep me posted if you have other concerns about banking. , I am committed to ensure that the connection of your account is successful, and your transactions are processed without any hassle. 

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