With QuickBooks, you can easily connect with your bank accounts and credit cards which will help to keep tabs through the software itself. To record credit card transactions in QuickBooks Online follow along. QuickBooks software is one of the most bought software by small businesses and start-ups for its powerful features yet easy-to-use interface. Its integration with other software and bank accounts makes for easy handling of the flow of money, both incoming and outgoing.
How to Record Credit Card Transactions in QuickBooks Online
Assuming you have a credit card account set up in QuickBooks Online, there are two ways to record credit card transactions.
Step 1: Go to the Menu bar and select the ‘Add an Account option
- On the Home screen click on the Connect Account tab on the right, and from the list of popular banks select yours.
- Now on the sub-menu click on the ‘Banking’ option which will take you to a new screen dedicated to Bank and Credit Card.
Step 2: Now log in to your Bank Account
- With the same username and password used for internet banking log in to your account directly from QuickBooks and then click on ‘Log In’.
- Wait for a few minutes as your account is connecting with QuickBooks.
Step 3: Now Add an Account to QuickBooks
- The connection screen in front of you consists of the ‘Account Name’ tab on the left side.
- Under this, you can view all the accounts that you have with the bank.
- For the account that you want to connect and use with QuickBooks just click on the check box in front of it.
Step 4: For Smart Usage name the Account
- Name the Account for QuickBooks in correspondence with that of the Bank Account you are using.
- For this, you can go through the suggestions listed in the drop-down menu attached to ‘Text Box’ under the ‘QuickBooks Account’ tab, placed in the middle of the ‘Connection Screen’.
Step 5: Customize Name & Type of Account for QuickBooks
- In case you do not find any account name that is similar to that of your ‘Bank Account’.
- you can create a new one by selecting the Add New tab found on top of the drop-down menu which will open the ‘Account Modal’ screen.
- In this new screen select the ‘Account Type’.
- Then go for the ‘Detail Type’ tab for the bank you have chosen.
- Now type in the name of the account in the space given for the same on the upper right side of the window.
- And then click on the ‘Save’ tab to exit the current screen.
Step 6: Final Connection with QuickBooks
- After selecting and saving all the details click on the ‘Connect’ tab.
- It will take a few minutes for your transactions to download in QuickBooks.
- Once the process is complete you will get a message stating “We successfully downloaded your transactions“.
- Hooray!” After this click on the, ‘I’m Done tab at the bottom of the window.
- Now you can easily view and review your transactions in QuickBooks.
If you face any issues in setting up a credit card in QuickBooks or downloading and viewing your bank and credit card transactions. You can get in touch with an expert Consultant of QuickBooks. In case you are still unable to connect with them you can contact them.
Frequently Asked Questions
How do I load credit card transactions into QuickBooks?
● To begin you have to click the Import (Start) icon on the Home Screen.
● Now you have to click select your file to select a file.
● As an alternative, you can select a file by choosing Browse file.
● Click View sample file to get to the Dancing Numbers example file.
● Configure QuickBooks’ fields’ mapping to the file column after that.
● Simply select next, and the file data will be shown on the preview screen for you to review.
