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Account to select when downloading cc charges/payments

Posted on 2013-11-14
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Last Modified: 2013-11-15
I am using QB 2013

In online banking it downloads all transactions and I select to which account to assign them to, which is great, but it also downloads the payments I have made to the credit card.
What account should I select so that it takes that it applies the payment to the credit card and updates the balance ?
I tried selecting the credit card account but says I can't use the same account.
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Question by:amucinobluedot
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8 Comments
 

Author Comment

by:amucinobluedot
ID: 39649032
It chances from 'record credit card charge' into 'record credit card credit'.

Payee:  
Account:

My guess is that I need to change the Payee which is setup as the credit card itself, should I change that to be my bank account and add the credit card in the account instead ?
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Author Comment

by:amucinobluedot
ID: 39649039
tried that but still won't accept the credit card as the "Account" ..  :( .. what accounts to use ?
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Expert Comment

by:Experienced Member
ID: 39651126
There are third party tools that can do this. Third party add-ons are a common way to solve these problems.

Look at eZ Credit Card Import, for example. Under Tech Spec, it says it can import charge or credit, so it may be worth a review on your part.

http://marketplace.intuit.com/AppID-2914-Overview.aspx

... Thinkpads_User
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Author Comment

by:amucinobluedot
ID: 39651294
I dont think I explained myself. I dont need help downloading the transactions. Quickbooks does that. What I need help with is deciding wich account to select when applying a credit instead of a charge of the downloaded transactions
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Expert Comment

by:Experienced Member
ID: 39651342
I understood what you were saying but the third party tools can directly access the QB database and that is why I pointed you to the application.

... Thinkpads_User
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Accepted Solution

by:
Experienced Member earned 2000 total points
ID: 39651480
@amucinobluedot  - Let's take a small step back.

A credit card type in QuickBooks is just a Bill with a form for entering credit cards. It is still a Bill.

The payment for a Credit Card or a Bill goes to the Cash account. So when you say:

"What account should I select", you should select a Bank account.

"so that it takes that it applies the payment to the credit card", therein lies the rub. Just downloading payment transactions to the Bank account will not mark the credit charge paid.

You cannot just put the payment in the credit card account, but it correctly did not work anyway.

So that is why I suggested a third party tool that (hopefully) can mark the credit card charge paid as it puts the payment against the Bank account.

.... Thinkpads_User
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Author Closing Comment

by:amucinobluedot
ID: 39651644
thx
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Expert Comment

by:Experienced Member
ID: 39651658
@amucinobluedot - Thanks and I was happy to help.

... Thinkpads_User
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