Reconciling a credit card with sub accounts in QuickBooks Online

This video demonstrates how to create a credit card payment with a credit card that has sub-accounts. It will also provide you the steps to fix weird balances if you paid the parent account directly throughout the year.

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[lisad.arnett]

Thanks Linda! That was exactly what I was looking for. I took on a huge clean up. And I knew I could count on you to help me figure out the journal entry needed. Matched spot on!

[mariannek.]

Do you categorize the transactions in the bank feeds on each individual card and do it again on the parent card? It seems like double work.

[TwoBites-zg]

If the parent account has a positive balance, how would you balance out the parent and sub accounts differently?

[PanelsUpSolar]

This was so helpful in theory! But we have one credit card, and then a sub account under that. When we pay the credit card, it downloads as a total payment on the main account. I see and understand how you are recording it to each one using an expense, and that works. But unfortunately doesn't let me match the one TOTAL amount that downloaded to just the one main card number. I guess what we need to do is figure out how to split the payment that downloaded in QBO. For instance we paid 20k on the credit card, but 11k should have gone to one, and 8k to the other. It's all downloading from the our CC and showing up on just the main one. So it's unable to match.

[ShawnDietzer]

I'm having this issue too but you kind of lost me at the end. I'm not sure what figures to put in the journal entry. I haven't had any luck with QBO support. How much would you charge me to add a journal entry for my year end? Thanks

[accountinglrpc]

I break the payment out by card as you suggest but when the payment comes in it never matches to the payment I added in QuickBooks. Should I simply exclude it? I'm trying not to over think this. I really appreciate the journal entry fix. Very helpful!

[unlimitedselfstorage]

What does this do to the reconciliation process? Also, do you always only reconcile the parent account, even if there were only charges on one of the cards?