Credit Card setup and use in QB

Set up the Credit Card by going to
1. List>Chart of Accounts>right click on any item and choose new>you can also set up sub accounts if needed
2. Choose Credit Card for the Type of account and enter the information, including the opening balance if applicable. 
3. To enter the credit card charges go to Banking>Enter Credit Card Charges and enter all of the information needed.  Choose the proper account such as office supplies, etc.
4. If you are paying a bill that you entered go to Pay Bills and at the bottom there is a drop down box for "Method">
5. Choose credit card and the proper credit card from the list. If you don't need to enter a bill you can enter charges directly by going to Banking>Enter credit card charges.
To set up for online services make sure you have online service with your credit card company
Add the online service(s) to your QuickBooks account: Go to the Banking menu and click Online Banking, and then click Set Up Account for Online Services.

Follow the instructions in the wizard. Click Next when you complete the step(s) on each wizard page.



To reconcile:
Go to Banking>Reconcile, choose your credit card account and reconcile. If you have sub accounts you will reconcile the main account.
When the reconciliation is complete you will be given the option of writing a check or saving the check to print later or entering a bill.
You can change the amount to pay as QB automatically enters the full amount due.
You can also cancel and enter a check directly at a later date.
If you choose this method when you write the check, in the Account drop down, choose the Credit Card Account.
If you have sub accounts you will have to enter a line for each sub account and the appropriate payment amounts in the account drop down list
If you enter a bill then the bill will be listed in the Vendor account and post to the credit card account to reduce the credit card balance.
It is a matter of whether you want your credit card register to reflect the liability or your accounts payable.

To Download:
You must have online access to the card and the Credit Card Company must allow QB downloads.
Then go to Banking>Use Register>choose the credit card account and click the download option in the upper right and follow the prompts.


ALWAYS make sure you have a good backup prior to making any changes.