Hello there, Thom6
.
Allow me to chime in and share some information about parent and sub-accounts for credit card accounts in QuickBooks Online (QBO).
There are two ways how your banks send the downloaded transactions to the program:
- Transactions download to one account.
- Transactions download to the individual accounts.
You'll need to connect the parent account only if the transactions download to one account. Otherwise, connect the sub-accounts if the transactions download to individual accounts. If you try to connect to both, you will receive a message that the account has already been connected to QuickBooks Online.
With regards to recording credit card payments, you'll need to pay down the main account if transactions download to one account. Otherwise, you'll need to record the payment on each sub-account. This way, their balances will be zeroed out.
Additionally, I've added these resources to learn more about account setup and how to manage your transactions once downloaded:
Please let me know if you need further assistance in managing your bank accounts. I’m always here to help. Take care!
