How to Setup Credit Cards with Sub-Accounts in QuickBooks Online

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  • Опубліковано 22 гру 2024

КОМЕНТАРІ • 26

  • @dagnyfranke6683
    @dagnyfranke6683 Рік тому

    The most clear and concise video tutorial regarding this topic. Thank you.

  • @fritzcampbell9400
    @fritzcampbell9400 6 місяців тому

    THANKS SOOOO MUCH!!! OMG this was perfect for what I need to do... I was going bald pulling my hair out! Awesome job!

  • @catherinegonzales5016
    @catherinegonzales5016 Місяць тому

    Hi, I recently closed this client and need to review the transactions from the beginning of this year. My question is: What happens if both the parent account and the sub-account are linked in QBO? I've noticed that there are duplicate transactions in both the parent and sub-account.

  • @kar1pike
    @kar1pike 11 місяців тому

    Great video! But a quick questions. I am cleaning up an account that is about a year and a half old. Should I go back to day one and redo each month for the credit card? I would assume that when I move my individual accounts to sub accounts, it will automatically do it for all dates. Any advice?

  • @Natalie-h7p
    @Natalie-h7p 9 місяців тому +1

    Why is it important to have the payment account as a sub-account? Does it not work to have the payment account and the main account the same?

  • @TessBot-xj4vx
    @TessBot-xj4vx 9 місяців тому +1

    the problem im having is when i go to reconcile in the parent account, its not showing any of the sub accounts transactions , so i cant reconcile. Help!

  • @WilliamByagard
    @WilliamByagard Рік тому +1

    What should I do if all the payments are going through the account holder's credit card/sub account? At least it seems that way from the statements and what's in the sub-account bank feed for that card. Should I just ignore this and create a payment account in the cardholder's name and move only the payments there?

    • @reqoncilefinancials
      @reqoncilefinancials  Рік тому +1

      Is this the same account that the expenses are flowing through? If so I would not setup a separate payment account.

    • @HardikSevak
      @HardikSevak 10 місяців тому

      That sounds like how mine is setup as well

  • @m.whitney6580
    @m.whitney6580 Рік тому

    Thank you for this lone video on this subject! In your video you created a COA for payments and the payments are check deposits. What if the payments are from transfers?

    • @reqoncilefinancials
      @reqoncilefinancials  Рік тому +1

      You can still use the transfer form or expense form in QBO to the payments account.

    • @m.whitney6580
      @m.whitney6580 Рік тому

      Sorry, I'm new! To confirm when I set up the transfer in QBO for a credit card payment, in the QBO transfer screen, I select transfer from checking to Bulk Payments. Correct? If so, I think I got it! (This is for a brand new client so I want to be sure I'm doing correctly. 😊

  • @mattd7770
    @mattd7770 Рік тому +1

    When I connect to BOA the subaccounts don't show up as options to connect to or enable, just the corp parent account and some other bank accounts. How exactly are you connecting to BOA? Thanks!

    • @reqoncilefinancials
      @reqoncilefinancials  Рік тому

      If you only connect the parent, will it import all transactions for you?

  • @lovely7777Q
    @lovely7777Q 2 місяці тому

    The problem am facing is that I am not privy to the screen am seeing. I am in the Caribbean keep paying increase cost for the programme and not having the same access. Unacceptable

  • @NatashaPowell-nt9so
    @NatashaPowell-nt9so 9 місяців тому

    Perfection on explaining!

  • @faighuseynov9935
    @faighuseynov9935 Рік тому +1

    Hello. Is bofA CC 1234 payment - Corporate account in Bank Of America?

    • @erikanino7359
      @erikanino7359 Рік тому

      yes bofa cc 123 payment is the parent account

  • @CC-ip3ve
    @CC-ip3ve Рік тому

    Will it be okay to do one big batch journal entry? I haven't cleared the credit card sub accounts for 7months. And what's the difference between Journal Entries and Adjusting Journal Entries?

    • @reqoncilefinancials
      @reqoncilefinancials  Рік тому

      Yes, you can just do one big batch entry to get it caught back up. A journal entry that is marked as adjusting will show up on the adjusted trial balance report in QuickBooks. That's really the only difference.

  • @Johnsoncrna
    @Johnsoncrna Рік тому

    So when the journal entry shows up in the credit card register, do you manually "clear" it?

  • @MollyKeepsBooks
    @MollyKeepsBooks Рік тому

    Super helpful, thank you!

  • @peggyenglish9913
    @peggyenglish9913 Рік тому

    Great, I’ll try this tomorrow

  • @HardikSevak
    @HardikSevak 10 місяців тому

    Thank you!