How are credit card payments categorized

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 TrepanierSheena Trepanier Posts: 1,878 admin

    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.

  • MarkGIMarkGI Posts: 1

    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

  • RachCHopkinsRachCHopkins Posts: 818 admin

    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'.

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