See How to create a new parent account or subaccount. Before connecting to Online Banking, you need to know how your bank sends the downloaded transactions. If the transactions download to one account, connect only the parent account. If the transactions download to the individual accounts, connect the subaccounts and not the parent account.
When initially connecting your account, the same opening balance transaction may download to all subaccounts. You must delete all but one of these balances when you reconcile. Some banks may show the overall bank balance at each subaccount level. This is because the bank provides us with a static balance of the entire account, not the balance of each subaccount.
Let me know if you have additional questions or concerns. I'm always available to lend a hand. Have a great one. Do you download the bank monthly statement and upload it or do you download a record of the transactions since it has to be a CSV file on a certain date? Some banks go back as far as 24 months. From time to time, the system will update the downloaded list depending on what your bank shares with us.
If you don't see the cleared bank transactions on the list, you can update the Banking page manually. Meanwhile, you can get a valid WebConnect CSV file through your bank's website or directly from your bank.
Once you have this file, you can upload it to QuickBooks Online. Here are some links that are helpful for the import process:. Manually upload transactions into QuickBooks Online. Import bank transactions using Excel CSV files. After downloading or importing the banking transactions, you can start categorizing them to the correct accounts.
This is a time-saving feature when managing your business. Keep us posted if you require additional help with using the feature. Have a great day! I have one parent account and 3 cards attached to the chase account individually thru online banking. Currently the payments are going into the 1 person's individual card account NOT the parent account. Is this correct, These credit cards have never been reconciled before.
How do I start reconciling for the first time? QuickBooks Support Get started Topics. Enter a search word. Turn off suggestions. Enter a user name or rank. Turn on suggestions. Showing results for. Search instead for. Did you mean:. Connect with and learn from others in the QuickBooks Community. Join now. Level 2. Any feedback on the correct way to do this is greatly appreciated.
Labels: QuickBooks Online. Reply Join the conversation. Level 9. How to properly setup and connect Chase credit cards Setup the Master Account as the Parent account on your Balance Sheet and do not connect it.
How to properly setup and connect Chase credit cards But how would the master accounts transactions be downloaded then? QuickBooks Team. Feel free to leave a comment for any additional questions or concerns about QuickBooks. How to properly setup and connect Chase credit cards No. How to properly setup and connect Chase credit cards The sub accounts are the ones that have the transactions, and because they are sub-accounts to the master account you can reconcile the master account and all of the sub-account transactions will be included in the register for the master account that you are reconciling.
Level 1. How to properly setup and connect Chase credit cards Do you just end up doing JE at year end to reconcile the "bank balance" to "in quickbooks" balance? Screen Shot at 6. Then, select OK. Find the payment method you want to edit or disable. Select Edit , then make the necessary changes. Change the Payment Method Name or select the Inactive checkbox to disable the payment method.
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QuickBooksHelp Intuit. Learn how to set up, use, and pay credit card accounts in QuickBooks Desktop. Positive balance - There are pending charges on your credit card. Negative balance - The amount you paid is more than your balance due.
Zero balance - You did not make any charges or you already paid your balance due. Credit card sub accounts - You can enter the charges and payments in the sub account and it will appear on the account register. The total amount of these charges and payments should be equal to the total balance for the parent account. You only need to reconcile the parent account.
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