Hello My QuickBooks Online Friends!! This Online training tutorial will show you how to record credit card transactions in QuickBooks Online. At first, it may be tricky because you use the “expenses” window to record charges. Payments, credits and reductions to the credit card balance have their own separate windows to open form the plus sign for ne transactions. I hope you will “like” after watching each one and please support the channel and subscribe. -Mark
@suegranados908
3 жыл бұрын
Hello, I have an account with ABC company. I get material from them. Every time I order, I get an invoice but don’t need to pay right way. Whenever I can, I make payments to abc but for every invoice I have to register in Quickbooks to keep track of the client expense. For every invoice I receive I record it as a. Expense from the credit card to abc but when I pay abc I do the same. It seems that I am double charging the credit card and abc. How can I do this? Please help And thank you I took your course in Udemy
@worldwidequickbooks
3 жыл бұрын
@@suegranados908 You need the accounts payable section of QuicBooks online to manage your vendor's relationship. That's IN ADDITION to this video. Thsi video would be the last part of accounts payable; you can pay an "unpaid bill" (unpaid vendor bill) by credit card but you must leanr about bills first. please see #'s 16 to #18 of this playlist. kzitem.info/news/bejne/tZ6i3q5_pWV-Y4Y The pay bills part in #18 is the same for you but you will use AND SELECT the credit card that you pay the bills with in the pay bills window. Please let me know. -Mark
@коуч.елена.сша
Жыл бұрын
You are a great teacher. After your explanation i feel much better about QBO.
@worldwidequickbooks
Жыл бұрын
Wow, thank you! That super nice and I'm really glad it's helping you I have a video for any other quick books topic you could possibly imagine, just ask. I hope you will remember to click like after watching each one and please stay and touch and subscribe Mark
@saqibrahman1336
3 жыл бұрын
Sir, it's magnificent! You have made it really simple. Thanks.
@worldwidequickbooks
3 жыл бұрын
You are most welcome. I like helping those who appreceate. I hope you will "like" after watching each one and I hope you subscribe. -Mark
@saqibrahman1336
3 жыл бұрын
@@worldwidequickbooks Yes sir, I did.
@tammygrimes741
Жыл бұрын
This was super helpful. Thank you!
@worldwidequickbooks
Жыл бұрын
Thank you For telling me.I hope you will click like after watching each one and subscribe Mark
@frankayala3950
Жыл бұрын
Hi Mark, I'm a subscriber to your channel, thank you once again for your knowledge. So on # 3). To record payment and deduct credit card balance. * When recoding the payment, and you save and close, is there another step to cut the check/print the check to send it to the credit card company, or is this a transaction that is accounting for a manual check already provided to the credit card company? Thank you 😃
@worldwidequickbooks
Жыл бұрын
You can write your own "manual" check and simply record it the way it is shown here. Or, you can print the check later using Q.B.O.'s "print checks" feature. To see that, and to get clarity on your point, please watch #17 in this playlist all about the print checks feature. kzitem.info/news/bejne/tn5rloimhIqIlHY -Mark
@larry9210
8 ай бұрын
Really great video, this is helping me to understand balance sheets. What I didn’t understand in this video is the video income of $7000? It seems to show up on the credit side but is this accounts receivable, future income, just not sure where it came from and if it ever Gets reduced and moves to the debit side. Thank you so much.
@worldwidequickbooks
8 ай бұрын
Thank you but I'm not sure if your question is a QuickBooks question or an accounting question I do have a great accounting basic accounting tutorial if you want to watch that and that might help you please let me know and I'll send you the link Mark
@larry9210
8 ай бұрын
Yes , please.
@MM-eh7ps
3 ай бұрын
How do I apply payments to a credit card that has several employees cards underneath? Shoud I apply the payment to the main card or should I split the payments throughout the cards? If I apply the payment to the main card I will be left with balances on the credit cards underneath. Could you please help? nobody seems to know how to do this the right way.
@worldwidequickbooks
3 ай бұрын
You are correct that nobody knows because there's a problem with multiple cards on one account in the way that banks give statements If you record them all in one account then you will have no problem reconciling but you will not necessarily know which employee was charging which charge transaction But you can't separate them into separate credit card accounts and QuickBooks online because you're not going to get a separate statement from your financial institution and you're not going to reconcile each employee's card separately My suggestion is to put them all into one account in QuickBooks online so that you can properly reconcile from the statement and add a piece of data to each transaction so that you know which employee was charging the card for each transaction You could use the sales rep field or the description field to make sure that the employee named gets recorded somewhere in the data of the transaction and then you can simply run a report by that field of data to isolate all the transactions from that employee That's what I recommend to my clients and it usually works please let me know what you think
@jross7277
Жыл бұрын
Thank you for this video. How would I record the payment with the interest paid?
@worldwidequickbooks
Жыл бұрын
You would split the payment between interest and principle Or you could make 2 separate entries for one for the interest and 1 for the principal If you double click on the top right corner of the video you will get to the full playlist. If you watch the full play list in proper order it will cover transactions with split payments or separate payments for interest or things like that similar enough for you to understand People need the full playlist so everything is explained in the proper context Please trust me it's worth the time Please confirm you found the video when you're OK recording it or I will direct you to another one Mark
@joshfreeman3264
Жыл бұрын
I sent my invoices, some say: Bob Payment method: Mastercard Suzy Payment method: Visa Am I paying a transaction fee on these!? If so, how do i prevent customers from e transferring with credit cards?
@worldwidequickbooks
Жыл бұрын
Thank you for asking but that does not seem like a quick book's question That's really something you have to workout between you and your customers. Mark
@joshfreeman3264
Жыл бұрын
@@worldwidequickbooks thanks for the reply. But Is quickbooks charging me a % if things are E-Transfer by credit cards?
@muhammadvayani2424
2 жыл бұрын
We are running 4 companies of real estate and management has given credit card to his 6 employees and they charge credit card in various business expenses of the 4 companies, most of them are mixed-up, an accountant how to manage it and how to categorized
@worldwidequickbooks
2 жыл бұрын
The way to handle it is to not do it that way. Don't mix companies don't mix accounts and don't mix employees because that's not a QuickBooks question that's a question about how to organize the way that you decide to keep records and charge things Mark
@mrs.maldonado3235
2 жыл бұрын
What if you use a credit card for gas and other misc daily charges, do I have to add all the gas stations as vendors, or will a JE be better
@worldwidequickbooks
2 жыл бұрын
Some people add the gas station as vendors so it more easily matches if you download from the bank but if you use many different gas stations for small amounts of gas very often, you could just put one vendor called "gas " Just to fill the pay E field It all depends on how important it is to you because there's always a trade off between extra data entry and having more information on your reports Mark
@mrs.maldonado3235
2 жыл бұрын
@@worldwidequickbooks Thank you! This is very helpful 😊
@kathydaniel191
Жыл бұрын
How do I record purchases from a purchase order for inventory for sale paid by credit card? Thanks for your help
@worldwidequickbooks
Жыл бұрын
This video shows you how to do it. The only difference with credit card, is that you use the "expense" window. kzitem.info/news/bejne/tIedr2Wva4mkh3o In the expense window, you need to choose the vendor that you have the purchase order with and scroll down to the lower part of the expense window to get the triangle for "items" You should, when you get a chance, watch the whole playlist in proper order to understand everything. You should also watch the full crash course in proepr order by clicking in the top-right of this video. Please confirm you have what you need; if not I'm here for follow-up. -Mark
@kathydaniel191
Жыл бұрын
@@worldwidequickbooks thanks! does it enter the items into inventory from there? Think I should test it I guess. Thanks again
@worldwidequickbooks
Жыл бұрын
Check the inventory playlist link and you will see. Then I can better explain if you need follow up. . -Mark
@user-md1hy4xz9c
Жыл бұрын
I am in banking and under action it says Record Transfer when I click on it it says "you can't select a transfer to/from the same account your're working in". what does that mean?
@worldwidequickbooks
Жыл бұрын
Thank you for asking, it means the account in the pull-down choice of that window must be the correct account type and if you're making a deposit or writing a check you have to use a bank type of account so double check the account type in the chart of accounts Mark
@bjwillis43
2 жыл бұрын
I have two credit card on the same account, I always pay in full when I receive my two statements (one for each card) but I pay with one check. I set up a "Parent Account called 'Purchase Card Account' and my two cards I made to be Sub-Accounts and called them 'Director's Card' and 'Operations Card'. My problem is that I find it difficult to reconcile because the two Sub-Accounts never go to $0.00 after I make the payment, only the Parent Account zeros. Is there an easier way to use a credit card account with multiple cards? I am not connected to online banking. Thank you.
@worldwidequickbooks
2 жыл бұрын
Thank you BJ, many of my clients have problems reconciling because of the way the financial institution (bank or cc company) gives and reports the statemenst to you. You need to match what you do in quickbooks to the way the statements come. If you can ask the company for a seprate statement for each card, then you can keep them in 2 separate accounts in quickbooks chart of accounts and then be able to reconcile them. -Mark
@bjwillis43
2 жыл бұрын
@@worldwidequickbooks Thank you. That makes sense. I checked and I can get two separate statements. Can I still pay them both with one combined check? What is the easiest way to do this?
@veronikashapovalova
2 жыл бұрын
Thanks
@worldwidequickbooks
2 жыл бұрын
It is my pleasure and if you click in the top right corner of the video you will get the full playlist. If you watch it in proper order you'll have everything you need. Mark
@Helmandification
3 жыл бұрын
At 5:25 Repair expense should be written in debit column.
@worldwidequickbooks
3 жыл бұрын
it is 9:40
@ArmStrong0421
2 жыл бұрын
@@worldwidequickbooks I think there was just an error in the slide presentation. 7:58 shows it in the credit column also.
@worldwidequickbooks
2 жыл бұрын
@@ArmStrong0421 Yes that happens in life sometimes. But as long as you get the idea, that's the most important thing. -Mark
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