DON'T Do This When You Enter Credit Card Charges in Quickbooks Desktop

[@QbuniversityOrg]

www.QBUniversity.org/Masterclass - leave a comment or brief question here!

[@robwin0072]

Hello, you demonstrated how to enter the transaction date to ensure expenses are correctly assigned to the reported month. However, could you explain how to pay the actual statement balance due? And if making a partial payment, how should one record that as well?

[@propatierm]

In the beginning of the video (1:30 mins in to video) you are in a credit card purchase screen. Why is the ending balance showing in a negative on the top row? I ask because I just started a job and the last time the credit card was reconciled was the end of 2022. I went to put in the cc transactions and there is a -59650.36 balance. I panicked a bit. Can you tell me why it is negative?

[@QbuniversityOrg]

It most likely means payments have been posted to the credit card account but none of the charges have been recorded. I would check the credit card register to see if this is the case

[@elizabethregalado]

Do you recommend entering credit card charges or should we add bill then bill pay with cc? What's the difference?

[@QbuniversityOrg]

I recommend adding the charges this way you capture all the expenses in the right time. And the right categories.

[@DianaBernal-z1w]

Hello, would you itemize the credit card transaction? For example, if I spend $6,000 at one store, should I go ahead and have a single transaction showing $6,000 or list each item individually?

[@QbuniversityOrg]

You would show it as one transaction but break out the various expense categories below when you specify the account

[@DianaBernal-z1w]

@@QbuniversityOrg - Thank you for answering. So in essence I would split the transaction? Is this necessary even if all the items are in the same type of expense category, i.e. office supplies?

[@leeowen773]

So I am entering bills from different vendors like normal, now they are due for payment and I am short on cash so I want to pay them with the credit card. I haven't waited to record these bills for the statement, they are already in QB. So how do I pay them? I do like them being under the vendor name instead of just the CC's name. How do I do this? I would be paying multi vendors on the monthly statement. I do pay in full each month. Thank you

[@QbuniversityOrg]

When you pay the bill choose “Credit Card” as the payment type. They will still show as associated with the vendor

[@AskRemy]

holy crap you talk a lot of nothing

[@QbuniversityOrg]

Wow thanks.

[@sheilasheppard2203]

@@QbuniversityOrg I thought you did a great job and am glad I found your channel. Thank you for putting these videos out!