How to Transfer Funds from Bank to Credit Card Accounts and Record Credit Card Payments in QuickBooks

Learn how to transfer funds from bank to credit card accounts and record credit card payments in QuickBooks. It helps to make your all accountancy process in one place which makes creates a good environment to handle all accountancy processes.

QuickBooks accounting software introduces to maintain all business accountancy with more accuracy. It makes all ways easy to track the record of all business transactions.

Most users have an issue with how to transfer all funds from banks to credit cards and are unable to process them. Read this blog, you get enable to process to transfer of funds from bank to credit card with all mandatory information.

To process How to Transfer Funds from Bank to Credit Card Accounts in QuickBooks

  • Hit your click on the “Select + New” simultaneously and then choose “Pay down credit card” options
  • Go to the “Which credit Card did you pay” option, choose “Credit Card
  • After that, the user needs to enter that specific amount and the date of the payment
  • Then choose that particular bank for your customer which is used to make a payment
  • To check the current payment issue, click on the “I made a payment with a check” this step is optional if you want to be
  • To process all transactions, add “Memo or description”
  • Click on Save and Close.

How to Record All Credit Card Payments?

QuickBooks permits the recording of all credit card payments in many ways. So, users can easily track all expenses and maintain all financial reports. If payment is received via check then the user needs to write a cheque for the record of credit card payment. To “write a cheque” the user needs to perform the following steps.

  • Hit your first click on the “Select + New” simultaneously
  • Then choose the “Cheque” from the drop-down menu of suppliers
  • Hit your enter on the “Payee field” section and choose “Suppliers name” for credit card payments
  • Mark your next click on the “Bank Account” section, choose credit card or bank account
  • Fill in your “Mailing address” and choose the specific “payment date” as per your according
  • Go to “Check Number Field” and enter your cheque number or you can choose “EFT” if you paid electronically
  • In any case, if the check is already issued then unmark the “Printer”
  • Fill in all mandatory information such as payment date and category details
  • Make sure about all filled data and then enter an amount and a description
  • Enter all details about notes under the Memo and click on “Save and close”

To Keep a Record of All Credit Card Payments via Bank Transfer

  • Click on “Select + Key” and select the “Transfer”
  • Go to the “Transfer funds” and click on the bank account that the credit card has been paid from
  • Hit your next click on the “credit card that the payments went”
  • In the section “Transfer Amount,” the user has to enter the amount of payment
  • You can also change the date, just by clicking on the “Edit”
  • Enter all notes under the section of Memo and hit your enter key on Save and close.

Create a Payment After Reconciling the Credit Card in QuickBooks

To reconcile all credit card transactions, make sure you know about these steps:

  • Firstly, open the settings and then choose the “Reconcile” option
  • If you do it the first time, then click on the “Get Started” and “Let’s do it” option
  • Choose the credit card account
  • Fill all missing transactions and also correct all incorrect transactions if you found
  • Once you found the difference is “0” then start reconciling
  • Reconcile screen will appear on your window and then choose the “Checkbox” matches all the transaction’s accuracy
  • Click on “Finish now” and “Done”

To pay all credit transactions, select the option “how to pay your bills”

  • You can pay in full or create a partial payment process with “Pay all or A portion of the bill” options
  • The user easily get access to transfer all balance in the credit card account to the payable account which makes a way to pay later.

To more about transferring funds from a bank to a credit card account, you can connect with the QuickBooks professional team. To clear your doubts, send your issues to this address or do QB LIVE CHAT with QB expertise.