Setting up a Credit Card Account
How do I set up a credit card account in my list of accounts? I want to start tracking all my material purchases and I do not understand how to use this feature.
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01/22/10 9:10am PST
Viewed by asker 02/03/10 1:25pm PST
Viewed by asker 02/03/10 1:25pm PST
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MontvilleCPA834
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01/22/10 2:13pm PST
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The solution
Create a NEW account in QuickBooks, beginning with the Chart of Accounts. Select ACCOUNT from the lower left corner of the screen and choose NEW. From there, you'll choose an account type = Credit Card. The screen that follows will allow you to enter additional information including the CC Number and a description. The payment for your material purchases will then be made using this credit card. That is done by either "Pay Bills", where the CC is the 'Method' of payment (found on the lower center of the Pay Bills dialogue box) OR using "Enter Credit Card Charges" from the BANKING menu. When you become more comfortable with this process, you can download recurring CC charges and other purchases which will minimize your data input. Good luck.
