Record credit card transactions as payments
Record a negative imported credit card transaction as a payment when it pays down the credit card balance and no corresponding payment is already recorded in QuickStart. Open Menu, select Banking, and then select Cash management.
If the payment is already recorded, match it instead. If the negative amount is an expense refund, categorize it instead.
To record a credit card payment:
- Open Menu, select Banking, and then select Cash management.
- Select Bank & credit card reconciliation.
- Select the credit card account that you want to reconcile.
- On the To reconcile tab, select Review for the negative transaction.
- In the Review transaction drawer, select Record as payment.
- Select the payment account. Available accounts have the Cash and cash equivalents, Bank accounts, or Other current assets type.
- Review or update the journal entry purpose.
- Select Confirm.
QuickStart creates a journal entry that debits the credit card account and credits the selected payment account. The imported transaction moves to the Reconciled tab.
If the journal entry requires approval, create and approve it first, and then match the imported transaction to it. To reverse an automatically created payment, use Unreconcile on the Reconciled tab; QuickStart also removes the generated journal entry.