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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.
From your Chart of Accounts, the parent and subaccounts look like this:
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:
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.
What's the Gear button? Where is it?
i already have set up the credit card accout. Now i need to add central billing account. How to do this?
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:
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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