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?

elenorf12 · ‎December 06, 2019

vpcontroller · ‎December 06, 2019

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!

Pay down credit card screen

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MariaSoledadG · ‎December 06, 2019

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.

View solution in original post

GraceC · ‎December 06, 2019

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.

elenorf12 · ‎December 06, 2019

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

vpcontroller · ‎December 06, 2019

@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!

Pay down credit card screen

View solution in original post

elenorf12 · ‎December 06, 2019

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 · ‎December 06, 2019

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.

View solution in original post

elenorf12 · ‎December 06, 2019

This answers my question.... "You can either use the Vendor Bill entry or the Pay down credit card feature to pay for your credit card."

Thank you both @vpcontroller

a11yoop2 · ‎February 26, 2020

How does this feature affect the payment when it comes in through the bank feed?

Kendra H · ‎February 26, 2020

Hello, @a11yoop2.

I'd be glad to lend a hand with determining if the new feature affects payments coming through the bank feed.

No, it won't affect the payment coming in the bank feed. You'll match the recorded payment and the bank feed payment together.

To match payments together here's how:

Select the transaction to expand the view.
Review the Deposit to field on the forms.
When you're done, go to Match.

For more information about matching bank transactions, refer back to this article: Match and categorize bank transactions in QuickBooks Online

If you have any more questions or concerns, please don't hesitate to reach back out. Have a good rest of your day!

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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?