Hi, I am Ufuoma Ogaga from ...
Goshen Bookkeeping & Consulting.
In this video, I will show you how to set up ...
credit card accounts two different ways
in QuickBooks Online.
To get started, you will need a copy of your ...
credit card statement.
Method #1 is to create one credit card account in ...
QuickBooks Online. To do this,
click the accounting tab, then select chart of accounts.
Click the new button to create a credit card account.
In the account window, select the account type as credit card.
For the detail type, select credit card.
In the name field, enter the name of your credit ...
card provider plus the last 4 digits of your credit card number.
Enter a number for your account to keep your chart of ...
accounts in order. Leave the description field ...
blank. Don't check the box next to is ...
this a sub-account. Leave the balance field ...
blank. Click save and close.
Method #2 is to create a parent credit card account ...
with your real credit cards as sub-accounts underneath the ...
parent account.
To do this, click the new button again.
In the account window, select the account type as ...
credit card. Select the detail type as credit card.
In the name field, enter your credit card ...
provider's name and the word parent.
Enter a chart of accounts number.
In the description field, enter a note that says only ...
use this account to reconcile all sub-credit card accounts.
Don't check the box next to is this a sub-account.
Leave the balance field blank.
Instead of clicking save and close,
click save and new to create the sub-credit card accounts.
Repeat the same steps as before,
select the account type and detail type as credit card.
In the name field, enter your employee's first ...
and last name initials plus the last 4 digits of their credit ...
card number from your credit card statement.
Enter a chart of accounts number.
Leave the description field blank.
This time around, check the box next to is this a ...
sub-account and select the parent credit card account ...
you created before. Leave the balance field ...
blank. And,
click save and new to create the rest of your credit card accounts.
Repeat the same steps to finish creating the sub-credit card accounts.
Here is the first single credit card account I created before ...
using method #1. And,
here is the parent credit card account plus the sub-credit ...
card accounts underneath it that I created using method #2.
Pro Tip: If you are using the second ...
method for creating your credit card accounts in ...
QuickBooks Online, only connect the sub-credit ...
card accounts in the banking center.
Do not connect the parent credit card that you created.
Now you know to set up your credit card accounts in ...
QuickBooks Online. Don't forget to click the link ...
the description field to get a copy of the blog post that ...
goes along with this video.