cancel
Showing results for 
Search instead for 
Did you mean: 
nitsujayyy
Level 2

Recording credit card payments from Web download bank feed

So now I'm reconciliating my credit card payments. I should expenses these right? What if some are not expenses, but personal? Can I create a account payable bill and take it from cash/bank?

5 Comments 5
MJoy_D
Moderator

Recording credit card payments from Web download bank feed

I can help you with recording credit card payments made to personal transactions, @nitsujayyy.

 

As for business expenses paid through a business credit card account, you can record them as Credit Card Charges from the Banking menu. It'll be under Other Current Liability. From here, you can write a check for the payments made before reconciling your accounts. 

 

For personal transactions paid through your business account, you can make a journal entry by debiting the business account and crediting it to the owner's equity account. When you pay the credit card company for the business part, you can record a check against their checking account. Then, use the owner's equity account in the Expenses section.

 

Here's how: 

 

  1. Go to the Banking menu and select Write Checks.
  2. Fill in the necessary information and select the Bank/Credit account you are reimbursing from.
  3. Choose Partner's Equity or Owner's Equity under the Account column.
  4. Enter the amount of the reimbursement.
  5. Click on Save and close.

 

Check the following article for more information about setting up credit card accounts and recording credit card charges: Set up, use, and pay credit card accounts

 

You can always view the deposit history by going to the Reports, then locating the Deposit Detail report, and then clicking the Run icon. For more information, check out this article: Record and make bank deposits in QuickBooks Desktop.

 

Please feel free to post here for any additional questions about personal and business expenses. We're always here to assist. Have a wonderful day!

nitsujayyy
Level 2

Recording credit card payments from Web download bank feed

Got it. When I reconciliate with with bank fees it will still work and the business expenses will still record as business expense 

nitsujayyy
Level 2

Recording credit card payments from Web download bank feed

Got it. Also credit card will still be recorded as expense right?

 

it would also show up on bank feed so I can link the transactions?

 

maybe you can help me on this. I did 1 credit card transactions on bank feed, but I try to do it proper and it’s not showing up in the bank feed. How can I back track it and show it unregistered so I can register it. ?

ShaniamarieC
QuickBooks Team

Recording credit card payments from Web download bank feed

Thanks for getting back to the Community, nitsujayyy.

 

Let me dive into your conversation to help you record credit card payments from downloaded bank feeds in QuickBooks Desktop.

 

When recording credit card payments from downloaded bank feeds in QuickBooks Desktop, it depends on the type of transactions associated with your credit card. If it's an expense, you need to record it as money out, and if it's income, you need to record it as money in.

 

Moreover, if the transactions are already recorded in QuickBooks, you can match them with your credit card transactions in the bank feed. QuickBooks Desktop offers three Bank Feed modes, each handling transactions differently. When QuickBooks makes a match, it considers the check numbers, amount, date, and the payer: Add and match Bank Feed transactions in QuickBooks Desktop

 

To track the transaction, you made and have it appear as unregistered so you can register it, the transactions should appear in the bank feeds if they are downloaded or imported from the bank.

 

If you manually enter the credit card transaction, it will not show in the bank feed. To track where that transaction is, check your credit card register to confirm if it is already added to QuickBooks. If it is registered, you can delete it and then redownload it so it will appear as unregistered in the bank feeds.

 

Additionally, we recommend you visit the following articles for guidance on reconciling your accounts in QuickBooks Desktop:

 

 

If you have any more questions or if you need further assistance in handling your credit card payments. I'm just a reply away. Have a lovely day!

nitsujayyy
Level 2

Recording credit card payments from Web download bank feed

So now im confused. I have my bank feed as well as credit card bank feed. I enter my credit card charges as a PO (expense), pay for the bill as "Chase credit card" because that's the feed location.

Screenshot 2024-06-14 010012.png

Now I see this as a chart of accounts. 

 

Screenshot 2024-06-14 010131.png

 

Is it always suppose to be a positive number?

 

What I want to do is make sure everything is recorded properly. Since im using my bank to also pay for the credit card. On bank feed, ill see a total payment to credit card. Credit card feed I'll see details of that payment of the bank. How can I reconciliate this to make sure nothing is duplicated and making sure that credit card charges are recorded and have a record on quickbooks and that the funds use to pay credit card is deducted from bank?

Sign in for expert help
Ask questions, post replies & join our community of QuickBooks users.

Need to get in touch?

Contact us