Making a note of your credit card payment is very necessary as it encourages that you monitor your expenditures and keep a record of your exact monetary reports.Making a note of your credit card payment is very necessary as it encourages that you monitor your expenditures and keep a record of your exact monetary reports.This article is for you to become familiar with different approaches to take down the credit card payments made in QuickBooks Online.
One of them is; you can record the payments by creating a transfer. Let us see how.
› Launch your QuickBooks and go to the Toolbar.
› There you click on the Add symbol (+).
› Navigate to Other.
› Further go ahead with selecting Transfer.
› There you will see an option saying Transfer Funds From which will have a drop down menu.
› From there, select the bank account from which the credit card payment was done.
› You will see another option which says Transfer Funds To also with a drop down menu.
› Here you select the credit card to which the payment is been made.
› Enter the value of the amount paid in the Transfer Amount section.
› Go ahead with making changes to the date.
› Finally click on Save.
If you have any confusion we recommend you to contact QuickBooks Technical Support.
Next method to record your credit card payment is by writing a cheque.
Now let us see how that is done.
› Launch your QuickBooks and go to the Toolbar.
› There you click on the Add symbol (+).
› Navigate to Suppliers.
› Further go ahead with selecting Cheque.
› There you will find a field mentioning Bank Account.
› From there, select the bank account from which the credit card payment was completed.
› There is a field option for Cheque. There enter the cheque number on the off chance that the cheque was issued previously. Along with that also uncheck the option Print Later.
› Next you will see a field mentioning Choose a payee.
› Here you enter the name of the credit card provider to which the payment is been made.
› Enter the value of the amount paid.
› Next you go to the Account field, now choose the credit card.
› Finally click on Save and then close.
Now the method to record your credit card payment is by reconciling your credit card. Let us see how that is done.
› In your QuickBooks, go to the Toolbar.
› There you click on the Gear symbol icon.
› Now go to Tools and select.
› At that point pick Reconcile.
› There you need to choose your credit card account.
› You will get Reconcile an account window. There you fill the details completely.
› Now you get to the Reconcile screen.
› Here you will see transactions, match them with the transactions on your statement and put a check on the box next to the ones that are matching so as to mark them as cleared.
› If there are any missing transactions from the statement enter them manually and make adjustments to the ones which vary if any.
› Finally when you see there is no variation go ahead by clicking on Finished.
› Now you got to decide the method through which you want to make payment to your credit card. The various ways are :
o Pay all or a portion of the bill now — this will take you to the Cheque screen with will have the complete amount mentioned. In case you have done a partial payment you may put in the value that you have already paid.
o Enter a invoice to pay later — this will take you to the Bills screen with will have the complete amount mentioned. In case you want to make any partial payment, put in the value of payment that you are planning to pay. You may be not sure how much you will pay; in that case you can leave the full value unedited and edit later to display the actual amount you have already paid.
o Done —if you do not wish to make a note of credit card balance payment or bill when reconciling due to any reason you may go ahead with selecting Done.
You should note in case you face any inconvenience at any step or you are not able to record any transaction, you may contact QuickBooks Technical Support whenever you require.
Another easy way is when the account from which you make payment to your credit card and your credit card are both associated. Here, the simplest method to update the transaction is to make the transfer from one of the accounts and afterward coordinate the transaction from the other account.
1. In your QuickBooks, go to the menu options on the left.
2. There you click on Banking and again select Banking.
3. There for the option Bank and Credit Cards proceed by choosing one of your bank account.
4. Go ahead with choosing the credit card transaction.
5. You will see radio buttons. Further select modify the radio button from Add to Transfer.
6. Now you will Transfer option with a drop down options.
7. Here, select the other account.
8. Further click on Transfer.
9. Now select the credit card account in order to view the transaction details for that account.
10. Proceed by navigating to the Recognized tab and look up for the transaction.
11. Once this gets completed you will see a successful match symbol in green.
12. Finally in action column click on Match.
I hope this has given you a proper insight of different methods to record a credit card payment. Are you still confused at any step and are not getting a clear picture? Not to worry and be sure that we are always there for you.
Contact our QuickBooks Technical Support Phone Number representative or you may reach out to us via chat support.
If there is any information you want us to know then send us an email at support@quickbookssupport.net with all the details of the issues you are facing with QuickBooks Desktop.
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