How to Upload Credit Card Statement to Quickbooks
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If you have a business organization credit carte du jour, you probably brand charges all the time. But how do you enter a credit bill of fare accuse into QuickBooks Pro?
In this mail service, we'll cover the two unlike ways to enter credit bill of fare charges in QuickBooks Desktop Pro so that you can properly manage your business's finances.
Create A Credit Card Account
Earlier y'all tin enter credit carte charges, y'all need to brand certain that at that place is an account for your credit card in your chart of accounts. If yous've read How To Set Your QuickBooks Account, y'all may have already washed this. But nosotros'll get over the process again briefly below.
Begin by going to Lists>Chart of Accounts>Business relationship>New.
Step ane: Select Credit Card
Choose the "Credit Carte" selection; then click the blue "Continue" push.
Step two: Enter The Business relationship Name
Enter the proper noun you want associated with your credit menu account (i.east. Business Credit Card, Capital One Card, Banking company Of America 1234, etc.).
Step 3: Write A Clarification (Optional)
If yous'd like, you tin can add a description to your credit card business relationship.
Step 4: Enter Your Credit Card Number (Optional)
Type in your credit card number if you want QuickBooks to remember this information.
Step 5: Attach A Tax Line (Optional)
You tin attach a taxation line to your credit carte du jour if you'd like. However, Quickbooks recommends that you go out this field blank unless y'all are a CPA or taxation professional person. Read more about revenue enhancement lines by clicking the bluish "How practice I choose the correct tax line?" link.
Pace half dozen: Input Your Opening Balance (Optional)
Yous can add together an opening residuum for your account. You can also select the date of your opening balance using the drop-down calendar.
Footstep 7: Salvage Credit Card Account
Click the bluish "Save & Close" push to salvage your credit card account.
Manually Enter Credit Card Charges
To manually enter your credit menu charges, get to Banking>Enter Credit Card Charges, or detect the "Enter Credit Card Charges" icon on the QuickBooks Pro home screen.
Footstep ane: Select Your Credit Carte
Select the proper credit card for the credit menu charge you want to enter (if you lot only accept i credit menu, QuickBooks volition automatically select that credit card business relationship).
Step 2: Verify Type Of Credit Card Transaction
Take a moment to make certain that "Purchase/Charge" is selected so that your credit card charge is properly recorded.
Stride 3: Choose Your Vendor
Select the vendor associated with the credit bill of fare charge. You may need to create a new vendor. See our How To Add Vendors In QuickBooks Pro post for assistance.
Step 4: Select The Engagement
Use the calendar to tape the engagement that the credit bill of fare was charged.
Step 5: Add A Reference Number (Optional)
If yous take a reference number for the credit card charge, you can enter it now if you lot'd like.
Step 6: Enter Amount
Enter the credit menu accuse corporeality.
Step vii: Add
Include a memo to assistance y'all retrieve what the credit card accuse was for.
Pace viii: Add together Additional Data
Here you lot can add as much or as little information as you'd like. QuickBooks volition automatically put the full amount you entered into the first line. Just permit'southward say, for case, that part of your purchase was office supplies, while part was postage. You could record the information like this:
Or, if you want even more detail, you tin enter each item by clicking the "Items" option.
Step 9: Select An Business relationship
No thing how you pause up your credit carte du jour charge, make sure to employ the drib-down menu to select the account in which you want each expense to exist categorized.
This will help later on when you lot view your Profit & Loss Statement and when you lot need to see your tax deductions for the year before filing taxes.
Footstep ten: Save
Click the "Salve & Close" push to tape your credit carte du jour charge, or click the "Save & New" push if you lot have more charges to add.
Import Credit Card Charges Using Depository financial institution Feeds
If yous don't want to manually enter every credit menu charge, yous can import your credit carte statements. To practice this, follow the steps in our How To Enable Live Bank Feeds In QuickBooks Pro post, inbound your credit bill of fare account rather than your bank account.
If you choose this option, yous will still need to manually enter a vendor and select an expense category for each transaction before y'all reconcile your credit card account.
Whichever method you lot cull, ever be sure to reconcile your credit carte account regularly and stay on top of categorizing your credit charge expenses. This makes your life much easier come tax time and allows you to take hold of whatsoever discrepancies earlier it's too late.
For troubleshooting issues, bank check out the QuickBooks Customs or call QuickBooks directly. Don't forget to bank check out the residuum of our QuickBooks Desktop Pro 101 Series to acquire how to add a banking concern account, reconcile a depository financial institution business relationship, enter credit menu payments, enter a bill, handle merchant fees, and more than.
>Overwhelmed by QuickBooks Pro? Maybe it's time to switch to QuickBooks Online. QBO is easy to utilize, cloud-based, and affordable. Best of all, you can hands import your QuickBooks Desktop data into QuickBooks Online. Check out our full review on QuickBooks Online for more details.
Outgrown QuickBooks Pro? Switch to QuickBooks Premier. It'south the same QuickBooks Desktop software you love just with more than users and advanced, industry-specific features, which we cover in our QuickBooks Premier review.
Source: https://www.merchantmaverick.com/how-to-enter-credit-card-charges-in-quickbooks-pro/
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