How to Enter Credit Card Charges in Quicbooks
Can’t seem to find an option to enter credit card changes in Quickbooks? Assuming you use Quickbooks Online — the cloud-based variant of Intuit’s accounting software — you can set up your account so it downloads charges automatically through Online Banking. Alternatively, though, you can enter credit card charges manually by following these steps.
To enter credit card charges manually in Quickbooks Online, log into your account and click the (+) sign in the middle of the screen, followed by the “Expense” tab under the “Vendors” menu. Next, click the bank drop-down menu and select the credit card account from which the transaction was made. You will then need to complete the other fields on screen, after which you can click “Save” to complete the process and save the changes.
Say, for instance, you purchased $500 worth of business-related products on your Visa credit card. To enter this transaction manually into Quickbooks Online, you can click the (+) icon, followed by “Expense” from the “Vendors” drop-down menu. From here, select the “Visa” credit card under Bank, at which point you can enter all charges associated with your Visa card. Sorry if you were expecting more, but that’s all it takes to enter credit card transactions into Quickbooks!
As previously mentioned, you can bypass these steps by connecting your business bank account to your Quickbooks account. Once connected, Quickbooks will automatically download transactions from your bank account, eliminating the need to manually enter credit card and other transactions. Conventional wisdom should lead you to believe that it’s faster and easier to automatically download your bank transactions, which is why many business owners and accountants prefer this method.
To learn more about connecting a bank account to Quickbooks, check out this tutorial published on Intuit’s website. Basically, though, it involves entering your bank’s name and online login information, which Quickbooks will then use to pull data from your bank account. Whenever your bank account is updated with new transactions/information, Quickbooks will automatically pull this data and reflect the changes within your account. Online banking is a quick and easy way to ensure that your transactions are properly recorded.
Hopefully, this gives you a better idea of how to enter credit card charges in Quickbooks.
Did this tutorial work for you? Let us know in the comments section below!