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How to Reconcile Credit Card Charges Manually in QuickBooks
Published 04/25/2009 | 
“You should enter credit card charges in Banking – Enter Credit card Charges (not Vendors – Enter Bills). When you get your monthly statement, reconcile it like you would your checking account. After you reconcile, a box will popup asking if you'd like to Enter a Bill to make a payment. Click yes and the amount you want to pay (you can always change this later)…”
My follow-up question is…do I have to reconcile these manually entered charges against the credit card statement? The reason I ask is that the whole reason I am entering the transactions manually is because my credit card doesn’t have a download that is compatible with QB Pro 2009. So, in other words, I cannot reconcile against the statement the way I would for my checking account statement. Just in case it matters, fyi, the monthly payments from checking to the credit card have been downloaded along with my other checking items. If you have a minute to provide me with your thoughts, I would be VERY grateful.
You don’t need to download your statement in order to reconcile, lots of people do it manually. Just go to Banking -> Reconcile. Select your credit card account, enter the date and the ending balance on your statement, and hit Continue. The charges will all show up on the left side of the screen, payments and refunds on the right. Just click on everything that’s on your statement. Enter anything that’s not entered yet in the Banking -> Enter Credit Card Charges screen.
If everything’s entered correctly and checked off, the difference will be $0 and you can select Reconcile Now. The first reconciliation may be a little more complicated, if you’re reconciling several months or years. You may want to do one month at a time.
Written by +Ruth Perryman, CMA, CFE, CFM, MBA
Ruth has provided QuickBooks help to thousands of businesses around the world since 1996. She is an Intuit Solutions Provider, an Advanced Certified QuickBooks ProAdvisor, and a member of the Intuit Trainer/Writer Network. She is also certified in QuickBooks Point of Sale and QuickBooks Enterprise Solutions.
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I am starting to enter credit card transactions in QB’s and going to reconcial for the first time. My opening balance on the credti card statement is not 0. We have been using this credit card for a while. How do I start to reconcial this account for the first time?
Hi Jenifer,
You should reconcile each month in the past. It’s the only way you’ll be able to capture all the expenses you haven’t entered in your QuickBooks file yet. Unfortunately, you’ll need to talk to your CPA or tax professional if there are any expenses in a year that you’ve already filed your tax return.
Ruth