How To Link Multiple Employee Credit Cards To QuickBooks Online Bank Feed

Описание: Some of you may have found that when having a couple different physical credit cards under the same account, common for giving some employees or partners their own cards to use, not all of the card's transactions come into the QBO Bank Feed with the link. There is however this workaround that I will introduce in this video to where you can set it up this way in order to get all of those transactions for every card linked under that credit card account. Before, only the parent card transactions would come into the Bank Feed & then the rest of the card transactions would need to be entered manually. This method will save you plenty of time & effort moving forward. We will first go over how to set this up correctly in your Chart of Accounts using one "Parent" Credit Card account and then multiple "SubAccounts" underneath that parent account to represent the separate individual credit cards. Then, we will go over how to connect all those new accounts to the Bank Feed & how your new workflow will look. Then, we will go over how to handle credit card payments as well as month-end credit card reconciliations. Finally, we will go over the optional step of putting in a journal entry to clean up the looks of these accounts on your Balance Sheet.

2024 Update: I am still able to use this method in QBO today for some credit card companies. However, I've found, and some of you as well in the comments on this video, that this is not currently working in QBO for certain credit card companies. If this is the case, and this of course is not the ideal solution but another option for you if this is your situation, to link the "Parent" account to the Bank Feed, and then upload in bulk at the end of each month using the credit card statement, the transactions from the employee cards. Usually, these employee card transactions are separated out by card on the statements, making this method possible. Here is a link to another YouTube video I've made on this exact topic:    • How To Upload Bank & CC Statement PDF Tran...  

Update #2!: Here's a link for the new video made specifically for Chase Employee Cards:

   • How To Link Chase Employee Credit Cards to...  

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Timestamps:
0:00 Intro
3:30 Setting Up The Correct Chart of Accounts
7:00 Connecting The New CC Chart Of Accounts To Bank Feed
8:10 Workflow
9:00 Looking At The Balance Sheet
9:50 Credit Card Reconcilaitions
12:00 Cleaning Up The Accounts Appearance On The Balance Sheet
16:47 Newsletter Introduction