Learn how to record payments you make to your credit cards in QuickBooks Online.
QuickBooks Online allows you to record credit card payments in multiple ways so you can keep track of your expenses and maintain accurate financial reports. In this article, we'll show you how.
Pay down a credit card
This is the main way to record your credit card payments in QuickBooks.
Have you already been using other ways to record credit card payments? You can keep using them if you prefer.
Write a cheque: If you made a payment to your credit card using a cheque, you can record it in QuickBooks by creating a cheque.
- Select + New.
- Under Suppliers, select Cheque.
- In the Payee field, select the Supplier for the credit card payment.
- In the Bank Account field, select the bank account from which the payment will be made.
- Enter a Mailing address and select a Payment date.
- In the Cheque no. field, enter the cheque number, or if paid electronically, type the EFT number.
- From the Category ▼ dropdown menu, make a selection.
- From the VAT ▼ dropdown menu, make a selection.
- Enter a Description and an Amount.
- Enter notes under Memo.
- Select Save and Close.
Make a payment after reconciling your credit card
Step 1: Reconcile your credit card transactions
- Go to Settings ⚙️, then select Reconcile.
- If it's your first time, select Get started and Let's get reconciled.
- Select the credit card account.
- Enter any missing transactions from the statement and adjust any incorrect transactions, if there are any.
- Once the difference is zero, select Start reconciling.
- In the Reconcile screen, select the checkbox next to the transactions that match the transactions on your statement to mark it as cleared.
- Select Finish now, then select Done.
Step 2: Pay your credit card transactions
Choose how you want to pay your bills:
- Pay all or a portion of the bill now: Pay in full or make a partial payment.
- Enter a bill to pay later: Moves the balance in the credit card account to Accounts Payable so you can pay it later.
- Done: If you don't want to record credit card balance payments or bills when reconciling.
|Tip:||For businesses using cash basis accounting, credit card bills, and bill payments may show as unapplied cash on the Profit and Loss report.|