Check Categories Automation


J

JR

Hello,
I am just starting to use ver 2005. Is it possible to do the following. I
currently charge all monthly shop bills to my credit card, but at the end of
the month when I write the check to the card company, I would like to enter
the sub categories of all bills paid on that visa bill, is this possible.
Or, do I have to manually enter each line of the credit card item paid, and
if so, how do I enter it into the check register?

Thanks for the help
JR
 
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T

Tee

JR said:
Hello,
I am just starting to use ver 2005. Is it possible to do the following. I
currently charge all monthly shop bills to my credit card, but at the end
of the month when I write the check to the card company, I would like to
enter the sub categories of all bills paid on that visa bill, is this
possible. Or, do I have to manually enter each line of the credit card
item paid, and if so, how do I enter it into the check register?
You shoudl be using the credit card feature in QB. Create an account, type
Credit Card, called Visa (or whatever you call your cc). Each charge you
make should be recorded via Banking>Credit Cards>Enter Credit Card Charges.

It looks the same as the Write Checks window for the most part. This keeps
a register of all your cc purchases and payments. When you write the check
to pay your cc at the end of the month there will only be one account
specified, that of the credit card.

You can double-click the credit card account in the Chart of Accounts to
view the register. When you get the statement each month you go to
Banking>Reconcile and select the credit card account then proceed just like
you do for your bank statement.

Some people/companies just enter summaries at the end of the month by
lump-summing categories on one cc register charge then reconcile that one
charge against their statement. That method can be a pain if you ever need
to go back and look at something or know what made up the $1873.00 you
recorded to Cost of Goods Sold. You'd have to manually dig out the cc
statement.
 

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