How to Set Up, Pay, & Enter Credit Card Accounts in QuickBooks Desktop?

QuickBooks Desktop allows users to pay credit card accounts, which is a big advantage for all QuickBooks users. But some users don’t know how to pay & credit card accounts in QuickBooks Desktop, and how to set up, use the QuickBooks credit card. Here in this blog, we are going to provide all the solutions for these situations, by which you will be able to use the QuickBooks credit card.

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Things before using credit card accounts for QuickBooks Desktop:

  • A zero balance in credit card means you have not made any charges your balance due.
  • A positive balance indicates that you have pending charges on your credit credit card, and a negative balance indicates that you have made overpayments.
  • A QuickBooks user can enter payments and charges in the sub-account, and the charges will be available in the account register if the user has a credit card sub-accounts.

Procedure to use the QuickBooks Desktop Credit Card

How to Set up QuickBooks Credit card Accounts

Follow the below steps to set up the QuickBooks Desktop credit card:

  • First of all visit to the ‘Setting’ option and click on the ‘Chart of Accounts’ option.
  • Then click on the ‘Credit Card’ option and select the ‘Continue’ option.
  • Now you can see the window of ‘Add New Account’.
  • In this window, type the name of the credit card.
  • Check the Sub Account of from, if you are setting of up a sub accounts. Select the parent credit card account from the drop-down.
  • After that select an option to answer the question ‘When do you want to start tracking your finances from this account in QuickBooks?’.
  • Now enter the balance of account.
  • And at the last, click the ‘Save Close’ option.

How to enter credit card charges in QuickBooks

  • Choose the ‘Enter Credit Card Charges’ option from the ‘Banking’ menu.
  • Now go for the Credit card drop down and choose the exact account.
  • The ‘Purchase/Charge’ option must be selected before automatically.
  • If in case, you need to record a refund or credit you received through the credit card, you can can choose the ‘Refund/Credit’ option.
  • Now click on the ‘Purchased From’ and select the vendor, and make sure about the date.
  • If you need to explain the charge or the refund then enter a memo.
  • In the next step, click on the ‘Expenses or Items’ tab, and enter the expenses that you want to track..
  • Now click on the ‘Save & Close’ option.

Now the entering of credit card charges in QuickBooks Desktop is done.

How to pay Credit card charges in QuickBooks Desktop

Pay QuickBooks Desktop credit card charges by following the below step:

  • First of all, you have to go to the ‘Banking’ menu and click on the ‘Write Checks’ option.
  • Now select the bank account that you use for paying credit card from the drop-down of ‘Bank Account’, and select the payment date.
  • Choose the credit card company name from the ‘Pay to the order of’ drop-down.
  • Then enter the payment amount, and go for the ‘Expenses’ tab to select the credit card account.
  • Enter a line for each and every sub-account, and type the amount you need to pay, if you are making a payment for sub-accounts.
  • Remember that, the total account must be equal to the total amount reflected for the parent account.
  • At last, click the ‘Save Close’ option to save all the changes and close it.

How to enter credit card annual and finance charges in QuickBooks Desktop

  • Go to the ‘Settings’ tab, and click on the ‘Chart of Accounts’ option.
  • Now find the ‘Credit card account, and double click on it.
  • Select the Payee field from the bottom of the register, and click on the ‘Credit card company’ option.
  • Enter the amount from the ‘Charge’ column.
  • Now go for the ‘Account’ tab and select the ‘Expenses account’ that you need to use for tracking the finance, annual, and other bank services charges.
  • Now click on the ‘Save’ option to save all the information.

Conclusion

We hope, this blog will be beneficial for you, and also help you to use (set up, use, & pay) the QuickBooks Desktop credit card properly. Just follow the procedure to do all things well. Further, if in case you need any help regarding this blog, you can dial our toll-free number +1-877-715-0222 for the support and can connect with our ProAdvisor, they will try to solve your problem as soon as possible.

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