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How are credit card payments categorized

Christine_CAL
Christine_CAL Expensify Customer Posts: 2 Expensify Newcomer

I have reports that include credit card payments. How should these cc payments be categorized so that they export properly into QB. When i pay the cc i enter the transaction in QB. Importing the transaction from expensify would create a duplicate entry in the QB cc register, no?

Answers

  • Sheena Trepanier
    Sheena Trepanier Expensify Success Coach - Admin Posts: 1,346 Expensify Team

    Hi @Christine_CAL, happy to help with this! When you have a connection to QuickBooks Online or Desktop, you should see your Chart of Accounts imported as categories.

    These categories can be applied to expenses so that upon export they are associated with the correct account in QuickBooks.

    If you're exporting credit card transactions from Expensify into QuickBooks, and should make sure to export transactions before Accepting them in QB. If you accept charges into QB and then export those charges from Expensify, you will end up seeing duplicates.

  • MarkGI
    MarkGI Expensify Customer Posts: 1 Expensify Newcomer

    Think the answer is misleading. The question relates to credit card payments ( credits to the account ) which are imported into Expensify - but there is no straight forward / clear approach to allocating these credit payments to the credit card payables account or related bank account

  • Rachael Hopkins
    Rachael Hopkins Expensify Success Coach - Admin Posts: 878 Expensify Team

    Hi @MarkGI , Welcome to the Community!

    Sorry about that, I think maybe Sheena was talking about coding regular card transactions.

    Our card feeds are generally set up to ignore bank-related transactions, however if you are not using a commercial feed, sometimes you can also get the transaction where you have paid the credit card balance. The best solution is to delete these bank admin transactions, as they are not an 'expense'.

  • rwong
    rwong Expensify Customer Posts: 1

    I'm having a similar issue where the payments I make from my bank to pay my company credit card bills monthly show up as (negative) expenses. Is there a way to stop this from happening? We just manually delete it right now but it is rather cumbersome. I use Silicon Valley Bank. Thanks!

  • Karisa Latta
    Karisa Latta Expensify Success Coach - Admin, Expensify Team Posts: 147 Expensify Team

    If you have a login based card connection in your personal settings, you'll need to stick with the manual deletion method. However, Expense Rules might help you handle them in a more automated manner. You can have them auto-associate with a report called DELETE or categorize them specially so you can sort them quickly and bulk delete them.

    If you have Domain Control Company Cards, we might be able to help you! Reach out to [email protected] asking us to block the negative expenses with examples of the expense names included.

    I hope this helps! Please let me know if you have more questions.