I am newer to bookkeeping and am helping out family with their books. There are two Chase Bank credit cards on the account and are setup as sub accounts under a parent account in the chart of accounts. I will call them card A and card B; card A is the main credit card where all the transactions show on the statement and therefore populate in the reconciliation page; in bank transactions both cards show their respective transactions when needing to be categorized.
What has been happening is that the card A has been reconciled for 2024 but neither card B nor the parent account have been reconciled. In order to reconcile card A, all of the transactions on card B were "excluded" on the bank transactions page, then those transactions were added manually as expenses to card A so they are accounted for and so that reconciliation could be completed.
This is a two-part question:
- 1. When I go to reconcile each card, card A needs to include the transactions for card B in order to get to $0, so how do I move the transactions from card B to card A to complete reconciliation for A? Then how do I reconcile card B?
- 2. Since card A has been reconciled all last year and transactions from card B were excluded and manually added to card A to complete reconciliation, what the best way to tackle card B and also reconcile the parent account for 2024? Since reconciliation was completed already I was apprehensive to undo anything.
Thank you in advance for your help!
