How can categorized items be associated with a credit card after the fact?

[Richard Lewis Haggard]

After paying a credit card bill by transferring funds directly from a bank
account to the credit card company I now want to add the individual items
associated with a credit card account so that the individual items are
properly entered into QuickBooks. Sadly, I haven't a clue as to how to
actually do this.

I have QuickBooks Pro 2007 and am not at up to speed with how to use it nor
the accounting practices upon which it is based so I'd appreciate any
instructions and suggestions be expressed simply, keeping in mind that I'm
not very good at these sort of things.

[John]

I don't understand the question. Are you saying that you entered the transaction
of paying the CC bill befor entering the transactions (charges) that your
paying?

On Sat, 10 Mar 2007 22:37:51 -0500, "Richard Lewis Haggard"

Post by Richard Lewis Haggard
After paying a credit card bill by transferring funds directly from a bank
account to the credit card company I now want to add the individual items
associated with a credit card account so that the individual items are
properly entered into QuickBooks. Sadly, I haven't a clue as to how to
actually do this.
I have QuickBooks Pro 2007 and am not at up to speed with how to use it nor
the accounting practices upon which it is based so I'd appreciate any
instructions and suggestions be expressed simply, keeping in mind that I'm
not very good at these sort of things.

[Scott]

If you have not already done so, set up a new account in the chart of
accounts with account type "Credit Card". I recommend naming it the type of
card + last 4 digits so it's easy to identify if/when you use multiple cards
(eg VISA 1234). Post the payment to this account.

You can then post all the individual charges to this same Credit Card
account (either through "Enter Credit Card Charges" or by posting directly
to the CC account register. Entry is similar to entering a check - select
vendor name, post charge to appropriate expense (or any other account).

You can reconcile the account just like a bank account, or just verify the
balance in the account vs the credit card statement.

If you really have no accounting knowledge, I'd suggest some training is in
order. See if your accountant can recommend someone who does Quickbooks
consulting - I get most of my QB consulting business through referrals from
accountants.

Scott out.

Post by Richard Lewis Haggard
After paying a credit card bill by transferring funds directly from a bank
account to the credit card company I now want to add the individual items
associated with a credit card account so that the individual items are
properly entered into QuickBooks. Sadly, I haven't a clue as to how to
actually do this.
I have QuickBooks Pro 2007 and am not at up to speed with how to use it
nor the accounting practices upon which it is based so I'd appreciate any
instructions and suggestions be expressed simply, keeping in mind that I'm
not very good at these sort of things.
--
Richard Lewis Haggard
www.Haggard-And-Associates.com

[Scott]

Forgot to add that you can also Pay Bills using this account - just change
the payment method to Credit Card & select the correct account - this will
post the charge to the CC.

Scott out.

Post by Scott
If you have not already done so, set up a new account in the chart of
accounts with account type "Credit Card". I recommend naming it the type
of card + last 4 digits so it's easy to identify if/when you use multiple
cards (eg VISA 1234). Post the payment to this account.
You can then post all the individual charges to this same Credit Card
account (either through "Enter Credit Card Charges" or by posting directly
to the CC account register. Entry is similar to entering a check - select
vendor name, post charge to appropriate expense (or any other account).
You can reconcile the account just like a bank account, or just verify the
balance in the account vs the credit card statement.
If you really have no accounting knowledge, I'd suggest some training is
in order. See if your accountant can recommend someone who does Quickbooks
consulting - I get most of my QB consulting business through referrals
from accountants.
Scott out.

Post by Richard Lewis Haggard
After paying a credit card bill by transferring funds directly from a
bank account to the credit card company I now want to add the individual
items associated with a credit card account so that the individual items
are properly entered into QuickBooks. Sadly, I haven't a clue as to how
to actually do this.
I have QuickBooks Pro 2007 and am not at up to speed with how to use it
nor the accounting practices upon which it is based so I'd appreciate any
instructions and suggestions be expressed simply, keeping in mind that
I'm not very good at these sort of things.
--
Richard Lewis Haggard
www.Haggard-And-Associates.com