It’s not difficult to enter credit card payments into QuickBooks. In this post, we show you how to reconcile an account in QuickBooks to record credit card entries. The entries made against the credit card bill can be reconciled incrementally when the credit card bill arrives. Reconciling the credit card account is almost identical to reconciling the bank account in preventing unauthorized charges.
To reconcile a credit card account:
- To open the chart of accounts, click on the chart of accounts icon.
- Click the credit card account you wish to reconcile to select it.
- In the chart of accounts, click the activities button in the lower left corner
- Then choose the reconcile credit card from the pop up menu.
You then see the began reconciliation dialogue box. Input the credit card statement’s date there.
- From the statement, enter the ending balance.
- Input any finance charges you hired, the date when they were received, and the account where the charge was credited
- Click the continue button.
Displays the reconcile credit card window for the selected account in the reconciliation dialogue box.
Check off the transactions listed on your credit card statement that have not yet cleared in this window.
- Click every transaction that matches a transaction in the credit card statement to place a check mark in front of it, and the market is now cleared.
- When you’re finished, the difference in the lower right corner should be 0.
- To reconcile the account, click the reconcile button
- If you want a reconciliation report to be generated after reconciling the credit card account, select an option.
As soon as you select one of the options in the dialog box that appears, QuickBooks takes you directly to the right checks window or to the enter bills window, depending on the amount owing.
- The credit card account has already been charged with the bill or check
- The credit card amount is already entered.
- The only thing you need to do is select the company to which you want to pay your credit card balance.
- After printing the check or saving the bell, print the check.
Whenever you require further assistance reconciling your accounts in QuickBooks Desktop, it is always possible to speak with our LIVE CHAT agents. Our team is ready to assist you. Keep your health and safety in mind.