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How to Enter Credit Card Payments in QuickBooks

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2024-02-22 15:36:30 • Filed to: Quickbooks Tips and Tricks • Proven solutions

To enter a credit card payment in QuickBooks is comfortable and not something you have to spend hours doing. The instructions are simple and straightforward your credit card payment will be entered in no time. First, you need to know is that before you can enter your credit card payment, you have to reconcile your credit card.

How to Reconcile Your Credit Card in QuickBooks

Reconciling your credit card before entering your payment helps prevent any errors and makes the whole process easier. Also, please make sure that you have your credit card statement, it will be needed.

  • Go to banking and click on reconcile credit card.
  • Choose the credit card you want to reconcile and from the calendar drop-down, input the date on the credit card statement.
  • Input the ending balance from the ending balance on the statement just as it appears on it.
  • In the finance charge box enter a suitable finance fee then date and categorize it.
  • Then select continue, and this will take you to the reconciliation window.
  • Once in the reconciliation window and choose the transactions you want to reconcile.
  • Carefully go through the whole thing and compare with your credit card statement.
  • Once you are done, you should have a difference of zero. That shows that your reconciliation is successful.
  • Then continue to select the "reconcile now" tab.
  • Then proceed to write a check by selecting the write check for payment now option. It makes entering your credit card payment easy. Then click on Ok.

How to Enter a Credit Card Payment

To enter a credit card payment, you can follow the reconciliation steps above and select the write check for payment now. Alternatively, you can follow the steps below.

  • From the homepage, click on "write checks" and choose the account you want to use to make the credit card payment. Note the account you want to use to make the payments, not the account you want to make payments to.
  • Then select "account" and choose the actual credit card account you want to pay to (however, if you followed the reconciliation steps, this will automatically be filled).
  • From the top menu, click on the drop-down list to choose the vendor you want to pay.
  • Input the check number and select the payment date from the calendar.
  • Then enter the amount and include a memo if you wish.
  • Add any other required information and click on save and then close.

Always remember to double-check to ensure everything has been entered correctly.

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