Every transaction that you process via credit card is validated by QuickBooks. It, then, matches with the transaction that you have done in business using QuickBooks. You can use multiple methods to record a payment in QuickBooks. The methods are as followed:
- Payment transfer
- Create a Journal Entry
- Writing a Check
- Use or Pay Bills
- Credit card reconciliation while making payment
- Adding entry through Banking downloads
A separate QuickBooks account has to be created for all the bank accounts. Whereas, the account type should be the Credit Card and then proceed further.
QuickBooks is a technically advanced accounting software which has successfully taken over all the messy accounting procedures of millions of business globally. However, there are n-number of reasons due to which the error occurs in your accounting software which ultimately causes software malfunction or errors. Reconciliation has always been a major factor when it comes to the credit card or bank transactions.
Here are the errors that probably pop-up:
These are the factors due to which the reconciliation issue occurs in the software:
- The error occurs when the client tries to make a partial payment on the bill.
- Use Account Payable to fix debt balance.
- Multiple credit card in QuickBooks when tracking the same amount
- Unable to reconcile credit card properly.
Here are the symptoms of reconciliation errors:
- Too high payable balance in the account against credit card bills
- The expense section is higher than the bank account.
These are the steps you need to follow to fix the issue:
QuickBooks doesn’t show reconciliation against Credit Card Payment
- The credit card that has already been reconciled:
- Once the reconciliation is done, you will be able to see the transaction in the bank.
- Check whether it is marked R.
- The transaction has mistakenly been hidden
- Check all hidden transactions and unmark such sections. This is actually done after the statement’s end date.
- All hidden transactions can be located on the right side of the window
Once you follow the above-mentioned process, you will be able to see whether the reconciliation has successfully been done or not. The issue can be fixed by confirming the verification account in the payment section. Otherwise, you have to do it manually.
Reconciliation of credit card and bank reconciliation are two similar things. If QuickBooks credit card payment isn’t showing up, the error is still there.
Our assistance is available through all our channels of connectivity, you can get in touch with our Technical Support Team via any of the channels. You can call us on our Toll-Free Number +1855-481-5335. Else, we are also available through Live Chat Support. It is available at the down-right corner of the website www.fastfix247.com. If you aren’t able to connect with us instantly, drop a mail on our Official Email Address email@example.com and our technical team will get back to you with all necessary solution and important update to bring your software in up and running position all the time.