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How to enter Credit Card Charges, Reconcile and apply Partial Payments in QuickBooks

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Learn how to Enter Credit Card Charges, Reconcile Your Credit Cards and Apply Payments inside QuickBooks. Don't miss a tip, Join my Tips & Tricks: https://CandusKampfer.com/tips Candus' Free Mini Course: https://canduskampfer.com/minicourse/ Find out how to Join my QuickBooks Simplified Community: http://quickbookssimplified.com Are you new to QuickBooks or are you struggling to figure out the software? Would you love a course that is step by step vs searching for each answer and trying to figure it all out on your own? I would like to share with you my course called Confidence with QuickBooks. Everyone who has taken the course loves it. For more details visit: http://ConfidenceWithQuickBooks.com If you need help with QuickBooks, set up an appointment here: https://canduskampfer.com/private-sessions-with-candus/ Click here to be notified of upcoming Webinars & Workshops: https://canduskampfer.com/webinar-wai... Learn how to process: 941, 940, DE9, DE9C, W2's, W3, 1099-misc & 1096. Click here to join and for more details: https://canduskampfer.com/quarterly-and-year-end-forms-cou Have a great day! Candus :)
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Text Comments (173)
John Osenenko (6 days ago)
I received a cc payment from the client, I entered the received payment but the deposit from the cc processing company is smaller due to cc fees. Now when I reconcile my bank statement there is a difference that equals the amount of the cc fee. What is the proper way to record the cc fees so my bank reconciliation balances?
Candus Kampfer (6 days ago)
John, Thank you for reaching out to us! Due to the large volume of comments and emails, we receive daily, Candus isn’t able to respond to all of them any longer. We will add your question to our future tip requests. Please join the weekly tips and tricks to be notified when your question is answered. http://canduskampfer.com/tips Have an amazing day! Elaine Team Candus
sheikh imran (8 days ago)
Very helpful video, please share with me your contact information like email address or blog
Candus Kampfer (7 days ago)
Yay! Glad it helped you sheikh imran! You can check her website: https://canduskampfer.com/contact/ Have an amazing day! Elaine Team Candus
Sara Wyrick (18 days ago)
PLEASE HELP!!!!! I enter credit card charges exactly how you say to but then I go to run an unpaid bills by job report and the credit card charge shows as unpaid. How do I clear it so it shows as paid?
Candus Kampfer (18 days ago)
Sara, Thank you for reaching out to us! Due to the large volume of comments and emails, we receive daily, Candus isn’t able to respond to all of them any longer. We will add your question to our future tip requests. Please join the weekly tips and tricks to be notified when your question is answered. http://canduskampfer.com/tips Have an amazing day! Elaine Team Candus
Alex Marichal (18 days ago)
Agreed, Great Vids. My Question is , For our Spa, I have been using my personal credit cards to pay my vendors. Then I pay my credit cards with my business checking. How do I set up my credit cards in quick books if I am going to continue to pay my vendors this way? Or do I follow the exact directions in this video? Thanks :)
Candus Kampfer (18 days ago)
Alex, Thank you for reaching out to us! Due to the large volume of comments and emails, we receive daily, Candus isn’t able to respond to all of them any longer. We will add your question to our future tip requests. Please join the weekly tips and tricks to be notified when your question is answered. http://canduskampfer.com/tips Have an amazing day! Elaine Team Candus
Chrystal Boulden (19 days ago)
If I have not reconciled all year, how do I go back to reconcile?
Candus Kampfer (19 days ago)
Chrystal, Thank you for reaching out to us! Due to the large volume of comments and emails, we receive daily, Candus isn’t able to respond to all of them any longer. We will add your question to our future tip requests. Please join the weekly tips and tricks to be notified when your question is answered. http://canduskampfer.com/tips Have an amazing day! Elaine Team Candus
J DHATT (27 days ago)
What is your contact info? Great video
Candus Kampfer (27 days ago)
Yay! Glad it helped you J DHATT! I hope this helps https://canduskampfer.com/contact/ Have an amazing day! Elaine Team Candus
Honey Jandu (1 month ago)
how to set beginning balance
Candus Kampfer (1 month ago)
Honey Jandu, Thank you for reaching out to us! Due to the large volume of comments and emails, we receive daily, Candus isn’t able to respond to all of them any longer. I did find this video for your question: https://canduskampfer.com/add-or-adjust-the-beginning-balance-in-a-bank-account-or-credit-card-in-quickbooks/ Hope it helps! Don’t forget to join the weekly tips and tricks to be notified when questions are answered. http://canduskampfer.com/tips Have an amazing day! Elaine Team Candus
Petr Sobol (1 month ago)
How do you reverse a credit card reconciliation if let's say you make an error? thanks!
Candus Kampfer (1 month ago)
You can “unreconcile”. Which version?
Ana Hernandez (1 month ago)
Ah! Great video Candus, thank you soooo much.
Candus Kampfer (1 month ago)
Yay! Glad it helped you Ana! Elaine Team Candus
Mark Tolliver (1 month ago)
Incredible video Candice does an excellent job!
Candus Kampfer (1 month ago)
Yay! Glad it helped you Mark! Elaine Team Candus
Chilidog (1 month ago)
Love these videos. I have a really dumb question. I have a boss that has owned the business for about 8 years. I am now doing the books and credit cards have never been properly entered. I now have him giving me all "business" receipts to enter but he also used the cards for personal use. It is impossible for me to get him to go thru the statements and mark what is personal and what is business. Needless to say, the accounts are completely screwed up. What is the best way to start properly entering and reconciling the statements??
Candus Kampfer (1 month ago)
Chilidog, Thank you for reaching out to us! Due to the large volume of comments and emails, we receive daily, Candus isn’t able to respond to all of them any longer. We will add your question to our future tip requests. Please join the weekly tips and tricks to be notified when your question is answered. http://canduskampfer.com/tips Have an amazing day! Elaine Team Candus
Every time I enter a (check) payment for my credit card, the register shows a negative balance increasing the negative amount by what I paid. What am I doing wrong?
Candus Kampfer (2 months ago)
Aqua-Link Acrylic Design Products, Thank you for reaching out to us! Due to the large volume of comments and emails, we receive daily, Candus isn’t able to respond to all of them any longer. We will add your question to our future tip requests. Please join the weekly tips and tricks to be notified when your question is answered. http://canduskampfer.com/tips Have an amazing day! Elaine Team Candus
Joyce Grimes (3 months ago)
Hi Candus, my partner and I have taken over a doctor's books. We have come across an issue reconciling the credit card balances. There were journal entries that were posted to the credit card account to balance the account at the end of the year due to errors. The register and G/L shows a balance of $0, however when we try to reconcile, it is showing a balance that the journal entries were used to balance to $0. This was an issue that occurred in prior years. The person prior to us had taken over for someone before him and did not move forward with the same process. We would like to get back on track with the proper process of reconciling, but ca't at this point. Is there a way to reconcile the credit cards by clearing the balance that really isn't there?
Candus Kampfer (2 months ago)
Joyce, Thank you for reaching out to us! Due to the large volume of comments and emails, we receive daily, Candus isn’t able to respond to all of them any longer. We will add your question to our future tip requests. Please join the weekly tips and tricks to be notified when your question is answered. http://canduskampfer.com/tips Have an amazing day! Elaine Team Candus
Hector Eguia (3 months ago)
Hi, would credits and prepaid(walmart visa) cards be handled the same way as far as setting them up in the chart of accounts? Do i select credit card or other when setting it up?
Hector Eguia (3 months ago)
Candus Kampfer ok great thank you!
Asquizzle IAM (3 months ago)
what if the credit card transactions are already listed in the chart of account. I'm asking how do i select the dates for quickbooks to understand i am reconciling a certain period? #helptheintern
Anna Reddinger (3 months ago)
Hi Candus, HELP! I have I have been entering my credit card charges under "credit care purchase/charge" but it is making my balance go down instead of increasing the owed amount. My balance is now in the negative. What should I do?
Anna Reddinger (3 months ago)
and any payment i enter is making the balance increase
Mary White (4 months ago)
thanks for the great video!
laurie B (4 months ago)
Another question, one of the credit cards is for our tech guys. I have one that uses it for personal purchases. When I review the statement each month I invoice him for it, but how do I show it in the credit card entries?
laurie B (4 months ago)
What do you do when you have one credit card that you use for several different businesses? Would you list them under classification?
Nirit Jasse (4 months ago)
Also what is the effect of entering CC charges when you have a cash basis business vs Accrual basis?
Nirit Jasse (4 months ago)
So the expenses that you create on the CC charges show up on the P& L Reports?
Nirit Jasse (4 months ago)
Thank you so much. You are very helpful.
kysotice (4 months ago)
Oh my goodness, you are good. If I can understand you, then anyone can. I can enter CC charges and reconcile easy enough but I couldn't figure out how to write a check to pay off the CC bill....you rule. I owe you lunch, dinner.....
Diana Andino (4 months ago)
How to Make Online Trasfer Reflege in Recnciliacion
Jamie Greenfield (4 months ago)
Thank you for showing me how to properly reconcile and pay credit card statement. My question is how do I fix past mistakes? I have been entering credit charges correctly, however I wasn't reconciling it (treasure does that), then I created a bill and paid said bill which has been throwing our P&L's off. Now that I know how handle future statements, how do I fix past ones? I have over $8000 in reconciliation discrepancies.
Jamie Greenfield (4 months ago)
Hi Candus, I have figured out the issue. I was entering CC charges (properly) but NOT reconciling them. Then I would go and enter them again into a bill, then pay the bill (like all other bills). Moving forward, I will pay our CC correctly, however I had to delete all past CC charges because I entered them as bills...I was basically doing double work and then ending up with a confusing P & L.
Diana Andino (4 months ago)
Hi Candus My name Diana I need your help to learn to reconcile in Quickbook Why was not reconciled in 5 years that has the company but the envelope of my husband to reconcile this year but I stop making it smooth The January Moth February my question is because The Same Checkets Leave The March Moth
Diana Andino (4 months ago)
Because they come out In the banck Steiment But Not When I Reconciled
Diana Andino (4 months ago)
How to make so that the depacito Reflege in the reconciliation
Diana Andino (4 months ago)
Hi Candus My Name Is Diana I Need Help
Nadean Thibideau (5 months ago)
I am hoping to start reconciling our bank on QuickBooks Pro, but the company I work for has never done this. Should I start this after year end, or is it okay to start doing this halfway through the year? Will it affect any other part of our recon?
Chilidog (5 months ago)
Quick question... The previous person that was doing our book would never enter the charges or reconcile the statments. They just entered the payment as a check and assigned it to a generic "Credit Cards" account and let the accountant deal with it at the end of the year. So Im trying to somewhat do things correctly. Ive been entering the cc charges and then entering the payment as a check each month. Do I apply this payment to the Expense account for the specific credit card I am entering the payment for? This way the payments entered offset the charges entered? Thank you!!
John Carter (5 months ago)
Hi candus hope your doing well, i have a question about credit card payments. How do you enter credit card payments with out chargeing anything. In other words i have a credit card that i dont charge anything very often i just pay the bill. Thats were my question comes in to play, how do you make just a payment with out makeing a new charge to a credit card and in what register do you apply it to and use. Again i need your help i cant find nothing on youtube that addressess this issue
NOS Automation (5 months ago)
Hi Candus, One quick question about this video. If I follow your process it all make sense until I go to reconcile the next month after a partial payment to the previous month statement. For example, if the month of April statement beginning balance $100 new charges amounting to $500 and a payment March to cover the $100 spent and reconciled it balanced. Then I make the minimum payment of $25 towards the $500 then start entering the next month transactions which would amount to let's say $300. So now when going to reconcile the month it would be $500 beginning balance $300 new charges then continue. I would then select the charges and $25 payment and then it would look like Ending Balance 300 cleared Balance 475 Difference 175. Can and should I reconcile?? or do wait until I pay the balance off before reconciling?
NOS Automation (5 months ago)
You too!
NOS Automation (5 months ago)
That seems quite obvious now that you say it. For some reason, I was thinking more about the amount spent rather than the ending balance. Thank you! Keep up the great work it really helps to have these video to reference.
Cheryl Collison (6 months ago)
Can you show how this is done on the online version? Thx
syed ajaz (6 months ago)
I want to know about construction accounting adusting entries and closing entries are same as merchandising or manufacture industry. I will thankful to you.
Sonja Lopez (6 months ago)
Thank you Candace! Your videos have been very helpful. I now work for a non profit company that has three underling companies. The main company receives money on behalf of the other two and I have to do journal entries to record these transfers of money in each company and it gets very confusing because I am not used to doing journal entries. I have always done bills and payments.. Is there any way you can explain to me how this should work correctly. Much appreciated.
Leah Moore (6 months ago)
Hi Candus, I am the office manager for a small contractor and learning to use QB. In your video, you said that when you are instructing people about how to make a credit card payment, you don't typically show the breakdown of what charges the credit card payment goes towards because people get confused, and that you normally handle that one-on-one with clients. We are trying to determine the materials cost per address where we complete jobs (electrical work and landscaping), so I am creating a class for each address serviced. Let's say I put in my credit card charges/transactions individually and note the class for each as well as enter any refunds and enter the class to which the refund corresponds as you have explained. Then when I make a credit card payment (typically a partial payment), is there any reason I would need to learn how to do a breakdown of what charges my payment corresponds to, or would I just delete the charges breakdown as you did in this video and select my credit card account as the account type? (In other words, if I am classing the Cc charges, is there any reason to enter the breakdown when I make a payment?) I hope this makes sense. Thank you! Leah
Leah Moore (4 months ago)
Hi again, Candus. Why is using classes "just too much"? How is it harder than using customers / jobs? We've been using our QB file this way for nearly 2 years and that's just how it's set up. I have to go back and enter my credit card charges and reconcile statements starting with the beginning of this year and ignoring the months prior (we started use of this credit card last October). So knowing that, in reference to my original question, I will need to make modifications to my payments. When I do that, do I just delete the charges breakdown I had entered when making the payment and just credit all of the payment to the account type of my credit card? (Please note that the bank statements that include these payments have already been reconciled themselves - I hope this won't cause any problem). Thanks again, Leah
Leah Moore (6 months ago)
Hi, Candus. Thak you for the reply. The problem is that the customer is the same for all addresses -- it's a homebuilder and we do their landscaping and electrical work. So it's one customer and multiple classes for the same customer. In that case, doesn't it make sense to use classes?
Tanya N (6 months ago)
Instead of doing write checks for paying off the balance on the credit card, can you just do funds transfer from checking account into credit card? thank you
jenny ransom (6 months ago)
What a helpful video, thank you. I have a further question - is there a way to enter the credit card due as a bill to be paid so that it shows up in the pay bills window with a date payment is due as a REMINDER to pay??
Faye Maroon (6 months ago)
Thank you so much! I have never reconciled my credit cards and realized what a mistake it was. I am trying to begin with your tutorials. Thank you!
Wayne Hurst (7 months ago)
So we buy inventory that we resell from a few Vendors that we pay for with a credit card. Typically we start with a PO of all products needed from a Vendor. When the product arrives we enter the bill from the Vendor. I pay my credit card off each month but I need to know the best way to make this happen from an accounting standpoint that keeps my COGs account correct as well as my bank account, credit card account etc. Do you already have a video that covers all of these things ? Thank you, Wayne
Melissa Martinez (7 months ago)
Wow, thank you for the video. And I love your voice by the way. What city do you offer your services? I really need an accountant to help me out on several suspicious statements have received on one of my credit cards.
SUCI LLC (7 months ago)
Thanks very much for your videos is been very helpfull I have a question how you add your cc charges to your P&L
Helen Pesce (7 months ago)
BANK OF AMERICA: I have one parent account and 4 sub accounts. I reconciled the parent account but the balances still show in the sub accounts. I know Bank of America is funky not sure how to handle this or if I am doing something wrong.
Theresa Creevy (7 months ago)
Great video. How do I account for credit card charges if I have assigned one of my personal cc for business use and I inadvertently used the cc for business and personal use? Can I just make the personal entry as an equity item?
Kelly Parks (7 months ago)
Thank you ! This answered all my questions!
MJCPeters (7 months ago)
Had a question, but then I saw you had another video and it was answered there. Thx
Jerry Hamlin (7 months ago)
very helpful very well done
Joanc1111 (7 months ago)
Hi Candus. When my company gets an invoice I enter it into enter bills. We usually pay our bills by check once a week. There are occasions where my boss will change his mind and pay a few vendors using our credit card. This is after the bill is already entered in QuickBooks.Should I delete the bill and then enter it into credit card charges or is there a way I can change the bill into a credit card charge.
Carl Draves (7 months ago)
Was very helpful in teaching me on what to do with our credit card payments. Thank you...
Leigh Arch (8 months ago)
I am entering credit card charges.  When I enter multiple charges for the same vendor on different dates, qb is adding all the expenses together.  This is making my credit card balance doubled.  Example:  Sheetz is the vendor.  On 09/29/2017 charged 24.00 for fuel.  Then on 010/03/2017 charged 34.00.  On the purchase /charge, in the "amount" box the charges are being added together which is 58.00.  Then on 10/05/2017 charge 20.00 which changes the "amount" to 78.00 and 78.00 is being added to the balance.  I get a warning " The transaction is not in balance.  Make sure the amounts in the detail area on the form for this transaction equal the amount at the top of the form."  I don't know what that warning means.  After all the charges are entered into credit card account my balance should be 482.01 and the balance in qb is 801.40.  How do I correct this issue?  Thank You in advance for you help.
Meghann Braden (8 months ago)
I need your help! I’m entering all of our 2017 credit card charges and payments into quickbooks. Our credit card payments for the year have already been made but not entered into quickbooks yet. From this video I’ve realized I’ve been doing it wrong by writing a check to the CC and entering each CC charge as and expense within that check- probably why I always run into issues. My last statement entered and reconciled was Dec of 2016. I want to start entering charges and payments this way- so when setting up the credit card charges will my beginning balance be the “new” balance on my Jan 2017 statement?
Silene Brown (8 months ago)
Candus Thank you for your video! How do I change my opening balance for a credit card? I opened a new company and imported my chart of accounts. I entered all my credit card charges up until now, but my beginning balance is zero and that is not correct. How do I make it a negative number? I figured out how to change my opening balance for my bank account just fine, but it's not working for my credit card. Thank you for your help and videos!
Vanessa Obrochta (8 months ago)
Thanks so much for your help! You're a great teacher!!!
Country Girls (8 months ago)
Does this apply for care credit too? We are a nonprofit that paid a hospital for a pets medical bill on care credit and I don't know how to enter the hospital and bill and pay cc in quickbooks nonprofit.
Country Girls (8 months ago)
Would I then pay the CC from my bank?
Andre McCaskill (9 months ago)
I must say I use Quick Books Online but your class is so detailed that it provides me enough knowledge to relate the information to my format. Thanks
Misty Reimer (9 months ago)
Hi Candus, I just started with quickbooks, i used oracle before, but now started a new position where my company will get royalties. the previous bookkeeper had applied them to the invoices and now their marked paid but now i am receiving payment for my invoice. that now says its been paid. how would i unapply the royalty payment ( i personally would just add it in my bank transactions) so it wouldn't affect the invoice it's self. What would you suggest to correct this matter?
Misty Reimer (9 months ago)
they would be commissioned
Colette Rockhill (9 months ago)
Hi Candus! thanks for the great videos. I am just starting off. This year both of my businesses made charges to the same CC. Can both accounts sync with this credit card. Payments have been made from both accounts over the course of the year.
Normita Bennett (9 months ago)
if you have like 50 items in your cc do u still have to enter it one by one? and also if you have some credits ( refund )
krista files (10 months ago)
This helped a lot! I have question regarding the print after reconciled. Can you go back and print for previous months reconciles?
Becky Wages (10 months ago)
You are an awesome teacher! Thank you for your time!!! 😊👍🏻
Linda Stuart (10 months ago)
So I did not know that you could "cancel" to avoid writing a check or entering a bill.....the last 2 months I have not paid the balance in full so when I go to reconcile it is a nightmare. How do I "fix" this now so that I can get rid of the remaining "bills" and just to to making payments via the write checks?
G and E Studios (10 months ago)
i have just watched your video. i am new to quickbooks and need to start with a beginning balance. how do i enter this? thank you. i also downloaded with QBO and not sure how to move the payments for the past 12 months to payments and credit card credits.
G and E Studios (10 months ago)
thank you for getting back to me. I actually signed up for assistance and hope to have this finished in the next few days. Happy New Year!
Joel Caplan (11 months ago)
Great video, Candus. Thank you so much
Timothy Gustafson (11 months ago)
sits
april wong (11 months ago)
Hi Candus! I need your expertise advice. I’m coming across to an issue that I haven’t dealt with before. So on one of the payments that I received last 2 months, PayPal did a chargeback. They debited the payment amount from a batch of deposit. I went ahead and did a credit memo and issue a refund in QB (balance with the bank side). Then this month, PayPal sided with us and return the funds back to us but in a batch of deposits. How to I handle this? So let’s start from beginning. I created an invoice. Applied payment to the invoice. Received a chargeback. So I did a credit memo and a refund to the customer (chargeback). But now PayPal is returning the chargeback to us due to sufficient evidence. So where do I apply this payment to? I can’t void the refund because that will throw my deposit off (won’t balance with bank and the refund was done a month ago). Plsssss help.... Thanks in advance 😊
april wong (11 months ago)
Candus Kampfer hi 😊. Yes we use items. Our company sells purses online. I agree with you. I think creating a new invoice will make it so much more cleaner. Thank you so so much. I love your videos and I think you rock!!! By the way, when I came across to this issue, I searched high and low for a YouTube about chargebacks and reversals of chargebacks after refund has already been processed. I was not able to find anything. I found videos on how to handle bounced checks and regular refunds. Consider doing a video of this segment. I’m sure there are a lot bookkeepers are doing it wrong. I think you will get a lot of viewers. I am one for sure 😁. Again, thanks for everything.
april wong (11 months ago)
Candus Kampfer you are so Awesome!!! I truly appreciate how quickly you responded, thank you so so much 😁😁😁. That’s what I presumed. I went ahead and created a new invoice using the same invoice number and applied that credit to the new invoice. So I am on the right track right? I used the “create a copy button for the new invoice so that way the item purchased and everything mirror to the original invoice. But Then...I put some more thought to it and came up another way. Let me know what you think and if that works. So I thought perhaps I can make a note on the original invoice and create a new line as “miscellaneous”. Show that refund amount as the item amount. That will show my original invoice with a new outstanding balance and then applied the payment by “received payments”. So by doing this, my original invoice will now double the amount. And there will be 2 payments received. For example invoice #123 you will see: Invoice 2 payments Credit memo Credit refund (All for a chargeback refund) Will this work or go back to just creating a new invoice for that chargeback refund. Example: Invoice #123 Payment Credit memo Credit refund New Invoice #123(chargeback refund) Payment (chargeback refund) What is your advice? Sorry if I’m confusing you.
Floria Vu (1 year ago)
You are amazing! Thank you very much! I enjoy your videos and they are helpful. It helped me with a lot of the questions I have.
Spencer Field (1 year ago)
Candus, Binge watching your vids. Thanks Trying to decide on Premier vs PRo after the BANK DOWNLOADS NO LONGER SUPPORTED time bomb went off Question.. On reconciliation, does it matter if I have a expensed to "Visa fees and interest" when entering the visa statement instead of entering at reconcilliation?
Spencer Field (11 months ago)
Hi Candus. Still watching vids. You do this very well. Thanks so much. I've a question off specific topic and would ask privately if I knew how. Not getting real answers from Intuit. I thought Contractor 2018 came with an items list. No? Walls, Tile, etc. Seems it will not take a credit card purchase off the imported statement and apply it to an item? (ie. roofing). Must be applied to COGS, then edited somewhere. maybe back in the enter CC windo? This can't be right? thnaks. Spencer
Diannah Smith (1 year ago)
I've been using the generic chart of account for the past few years but our business has grown and I need to have a more specific COA. How can I start 2018 with a new COA but keep information from 2017? I never had formal training, I taught myself so now I'd like to really understand how things go together. I've never set up a company before so even though I've been keeping the books for the last few years, it's been the minimum information I'm sure. I'd be grateful for any help you could offer. Thanks in advance.
Diannah Smith (1 year ago)
Candus Kampfer Thank you so much! I’ll definitely check out the link. I appreciate your help!
Dale Knauss (1 year ago)
Hello, Ok this video was awesome thanks! Question though my first time reconciling CC's. I dont have a beginning balance (or maybe I do & dont know where to find it). When i go to reconcile I have no cleared balance (which is supposed to be my beginning balance. Thank you
Kelly Kinsey (1 year ago)
Candus, I wanted to thank you for your information on this credit card "stuff"! It's been a real problem, and apparently I've been doing it incorrectly for years, although nothing to go to jail about...I hope. But I watched your video, rewinding, checking things again, entering and re-entering info, and I think...hope it's all correct now. Thank you for completely explaining things!
Brandi McArthur (1 year ago)
We have 10 company cards, each set up as separate account. The payments are entered as they occur from our checking account but when I reconcile they don't match up as we carry a credit card balance for several months. Would you not input the statement as A/P and reconcile to the statement?
Vango Couriers (1 year ago)
We love you!
S. Roberts (1 year ago)
How can I setup a Vendor account with a credit limit of $3000
Tony Torres (1 year ago)
Candus, Love your videos. I'm in the process of going back to correct all kinds of mistakes I made in quickbooks. I created account for my credit card but made a mistake on the beginning balance. How can I correct my beginning balance? Thanks, Tony
Tony Torres (1 year ago)
Thank you Candus, my books are so screwed up, I'm trying to go back over the last couple years and make it right. I really appreciate being able to come here and look for answers you provide, thank you so much, Tony
mark babiuk (1 year ago)
How can you make a credit card payment from another credit card? Silly but client did it??
David Marquardt (1 year ago)
Great Videos! Do i need to enter credit card transactions manually if i download them from website?
Cylestine Thornton (1 year ago)
Hi Candus, I owe several bills from this one company and I want to make a partial payment. In the pay bills window I check the bills to pay, but the total amount for the chosen one is more than I want to pay. How do I enter the lessor amount to pay?
Johnny Salcedo (1 year ago)
Hi, Thank for the video, it helps a lot. My question for you is: Lets say I charge the credit card for $1,000 but next month I pay only $100. Why on my P&L shows all $1,000?? It should only show $100 that I expense. Thanks!!
Debbie Crume (1 year ago)
I would like my credit card due date to appear on the calendar, the same as the vendors that are due. How do I show the Capital One credit card that closed on the 17th is due to pay on the 14th of the next month?
Debbie Crume (1 year ago)
Candus Kampfer I do have a Vendor set up for Capital One. What amount am I putting as the amount due? I'm gathering that was the purpose of the Credit Card in the Chart of Accounts is to track the card status. Is the vendor a duplicate effort?
Debbie Crume (1 year ago)
Candus Kampfer not every time.
Marlene Weaver (1 year ago)
Candus thank you so much for all your tutorials they are so easy to follow! You are the first one I go to when I have a question about something in Qucikbooks. I have a vendor who I pay with my business credit card. I had two invoices that i paid for total was $750.56 but when they ran the credit card charging my card only $749.56 so there is $1 under charge on my card. How do I fix this so I can reconcile my credit card? Thank you.
Carmen Nunez (1 year ago)
Awesome ...thanks!!!!!
Donna MacPhail (1 year ago)
You are awesome! I'm sure I will be viewing other videos you have and will contact you with any questions!
Dana Metallo (1 year ago)
The person in my position before me only put in credit card charges and payments for the past 10+ years. I know the balance is zero but it shows being over $175,000. I don't have statements that date back that far. If I know the balance is zero how can I fix that and reconcile moving forward? The account was only reconciled a few times in 2006.
Tiffany Gecsey (1 year ago)
Hi Candus! I use a credit card to purchase inventory for sale through one of my main vendors. Once they charge the card, I "receive the items with bill" creating a bill, than I click pay bill and pay with the credit card. Throughout the month I make payments to that credit card by writing a check as described with the credit card from chart of accounts as the account. The problem I seem to be running into is that my PNL is showing ALOT of profit, which sadly, is not accurate. Looking through the COGS account the "accounts payable" items from that vendor only show a blank in the amount column. Looking closely at the transaction journal of the check it shows "business checking" and "credit card" as the accounts. It seems as though the payments I am making arent being recorded anywhere in the PNL, creating the false profit. Any advise would be fantastic!
Gur Mann (1 year ago)
hi thanx for this video I m starting new bookkeeper job .I m rectly done my study so I m new in bookkeeping job and this video is vry helpful for me
idgieemma (1 year ago)
How do you enter credit card payments made from checking accounts not tied to the Quickbooks company file such as the business owner's personal account or another business?
idgieemma (1 year ago)
Thanks for the help!
R ASSAS (1 year ago)
Thank you very much for the videos. How can we use one Credit card transaction downloaded in QuickBooks to pay Multiple vendor's bill. Thank you
R ASSAS (1 year ago)
Thank you very much what about the downloaded transactions?. we will have duplicate charge. Also we find out, sometime we made mistake because we forget witch invoice need to be paid check or credit cards. we fine other solution but we don't know if it's right when we download the credit cards charge we put them on category account payable and in customer job we put the vendor name. when we pay the bill we will see the charge on the credits available. and we just use the credit to clear the bills. i don't know if this is right because we didn't do any report to check if we get the right balance. Thank you
R ASSAS (1 year ago)
Thank you for your quick answer We use to pay most of our bill with check (Bill and Pay bills) and for the credit cards charge we use to download them, we put the account information and in the reference number we put the invoice number if there is any. Now we start to switch most our vendors to credit cards. and most of them they apply multiple of bills with one credit cards charge. we don't have problem if 1 charge = 1 bill (we just put invoice number on credit card charge reference. we don't know how to do it in case of 1 charge = multiple bills and vendor credits. What the best way to pay vendors with credit cards and also keep track of the bills and credits Thank you
Monica yates (1 year ago)
Can you enter months worth of charges and go back and reconcile later? Also is the starting balance the same as previous balance?
Justine Brill (1 year ago)
Hello, I understand how to enter credit card statements and understand how to reconcile in general,However, i'm having a difficult time with how to record the fact that i overpaid the credit card online. Ican't figure out how to make sure my overpayment is entered correctly so that it carries over to the next month for the credit card payment.
Andrew Stubbings (1 year ago)
Hi Candus, I was wondering how do you reconcile your credit card when you over paid the balance for the month? I made a few payments to the credit card and I eneded up over paying. Now when i'm trying to reconcile it I have a negative difference. What do I do?
Andrew Stubbings (1 year ago)
All my purchases add up correctly, lets say my new monthly bill is $3000, I ended up paying $5000 leaving an over payment of $2000. where it shows -$2000 as a credit for the difference
Andrew Stubbings (1 year ago)
i Am using my ending balance on my credit card statement and it is not a negative. The difference is a negative after everything is tallied up.
Cindy donahue (1 year ago)
Should I have my credit cards in the list of accounts on a small business
Luis Vera (1 year ago)
Hi Candus, I like your videos you are amazing! I have a business with my qb with more than 10 years data. How Can I delete my previous years and just keep the last 3 or 7 years? Thank you for the instructional videos. Luis
Rosemary Pond (1 year ago)
Hi Candace, I am new to quickbooks, I have a salary employee(owner of business) paying into 401k monthly with checking account draft, how do I add the 401k payments to her social security gross taxable income in payroll so it will be captured for her tax liability?
Jesccec Chang (1 year ago)
Hi Candus, I work on translation/tour on a on-call basis, there will be meals, fuel, toll, translation charges for each call. Should I record all related charges as a project, should I issue an invoice for each job, how to apply related expenses to each project? Thank you very much!
Jesccec Chang (1 year ago)
I created an invoice to include all the related fuel, meals, hotel and translate charges. I would like to know how to apply these expenses to this project. Thank you!
Craig Uhlig (1 year ago)
Hi Candus, My question is...how to you pay your cc with other bank acct in QB. My husband started a bus in April of 16, and we have had to use our other bank acct and cc to pay bills and buy material...how do you do that in QB (when reconciling a credit card?
m brights (1 year ago)
At 11:42 You said "this is important"...then you super rushed through that...and I didn't understand what you said or what you did. Do you enter the same name as what is in chart of accounts? Thank you!
Cammy Rose (1 year ago)
hello Candace, i have some pay over the phone i plug everything in its shows in the bushiness balance but not on qb with the invoice. i know it throw merchants service center but i cant find a way to make the paid bill show with the invoices. i have like 5 people that i keep calling cuz i think there over due but they paid over a month ago. please help. Also after i process payroll why does it ask to print checks (not pay-stub)after its gone to direct deposit. it didn't do this before so iam worried that its not right. but the guys get paid. and if u know what memorized transactions and why they mess up please get back to me. thank you
Mari Aristizabal (1 year ago)
Thank you, Mary, question, what if the credit card has a "corporate card" then 2 cards under that. Originally we only downloaded the 2 cards, not the corporate that collects the payment. We recently decided to download the corp card; a year later. Should I do the beginning balance from 2016 when we first started the card?
My mixt channel 1x (1 year ago)
Dear Candus, If it is possible, please, don't use generic terms (this, that, etc) when you are pointing and explaining, rather mention the name of the specific field. The fonts of some of the screens are small so it becomes difficult to follow you.
Jane Robinson (1 year ago)
Love the tutorials. Wondered if you can cover how to upload information from the credit card companies so that I don't have to enter all the transactions myself.
FRANK R (1 year ago)
Hello Candus, You where write. thank you very much :)

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