I use the bill pay service with my bank to pay my credit card bills. I always pay the full amount. How do I post that type of payment in the credit card section of my QuickBooks. I put these entries in the check register. My check register is correct, but my credit card accounts are not.
Visit our webstore for huge savings on QuickBooks!
You should enter your credit card charges in Banking > Enter Credit Card Charges
either as you go along or at the end of the month when you get your statement. This increases your balance.
When you pay your credit card bill, use your credit card account as the expense account. This decreases your balance.
You should also reconcile the credit card account at Banking > Reconcile to make sure everything’s been entered correctly.
This article is provided for informational purposes and is not intended to be construed as legal, accounting, or other professional advice. For further information, please consult appropriate professional advice from your attorney and certified public accountant.
Written by +Ruth Perryman, CMA, CFE, CFM, MBA
Ruth is the president of The QB Specialists, an Intuit Premier Reseller that offers huge savings and expert advice on QuickBooks POS and QuickBooks Enterprise. She is an Advanced Certified QuickBooks ProAdvisor and a member of Intuit’s Trainer/Writer Network. She is also certified in QuickBooks POS and QuickBooks Enterprise and has provided expert QuickBooks help to thousands of businesses all over the world since 1996.
Web Store | Price List | Free Trials | Newsletter