Based on the details you've provided, I can see that you've set up the credit card as a vendor profile as well as an account in the Chart of Accounts (COA), rharvey1971. Let me give some details on how the bills and credit card charges impact your balances.
Before we proceed in discussing your scenario, it is best to create a backup copy of your company file. This is to ensure integrity and prevent data loss as we progress to the topic.
Now, lets begin with the moment you created the bills and the credit card charges. By doing this, you are already inflating the balances of the expense accounts you selected in the Expenses tab (Bill and Credit Card Charges windows).
When you pay the bill, it affects the Accounts Payable and the checking accounts. Thus, it only appears in the checking register and in the vendor profile, and not in the Credit card register.
For us not to disrupt the balances of the accounts and proceed to your reconciliations, you'll need to choose whether you use the Vendor profile or the Credit Card account in COA. I'd recommend reaching out to your accountant for guidance on what's best for your business setup.
If you choose to use the Credit Card Charges, you don't need to create bills and bill payments. You can pay down the credit card by creating a check.
- Go to the Banking menu and select Write Checks.
- Select Checking in the BANK ACCOUNT field.
- Go to the Expenses tab and select the credit card account.
- Once done click on Save & Close.
This will zero out your credit card balance and will also correct the checking balance.
Meanwhile, you'll have to delete the bills and the bill payments to avoid duplicates in your registers. Then again, you'll have to reach out to your accountant about this.
Moreover, after this transaction is settled it's important to reconcile your accounts in QuickBooks to make sure they align with your actual bank and credit card statements.
I'll be around if you need further assistance with your bank register. Just visit this forum anytime, and I'm here to help ensure everything runs smoothly for you.
