How to enter Credit Card Charges, Reconcile and apply Partial Payments in QuickBooks

Latest YouTube videos top searched revolving Credit, Get Out Of Debt Plan, Government Debt Relief, and Are Credit Cards Considered Revolving Debt, How to enter Credit Card Charges, Reconcile and apply Partial Payments in QuickBooks.

Do you want to learn how to enter credit card charges into QuickBooks?

Or how to reconcile and apply partial payments?

In this video, I will walk you through each step. 😁

Learn how to Enter Credit Card Charges, Reconcile Your Credit Cards and Apply Payments inside QuickBooks.

➡️ Steps to Entering CC Charges, Reconciling, & Applying Partial Payments:

➡️ Setting Up New Credit Card
Go up to “Lists”
“Chart of Accounts”
Go down to “Account”
“New”
Choose “Credit Card”
Click “Continue”
“Account Name”
“Enter Opening Balance” **If you have a beginning balance
Click “Save & Close”

➡️ Entering Credit Card Charges
Go up to “Banking”
“Enter Credit Card Charges”
Select “Credit Card”
Choose “Purchase/Charge” or “Refund/Credit”
“Purchased From”
“Date”
“Ref No.”
“Amount”
“Memo”
“Expenses” Tab
“Account”
“Amount”
“Memo”
“Customer: Job”
“Class”
Click “Save & Close”

➡️ Reconciling
**Grab your Credit Card Statement

Choose “Account”
“Statement Date”
Check “Beginning Balance”
Enter “Ending Balance”
“Finance Charge”
“Date”
“Account”
“Class”
Click “Continue”
Checkmark the transactions to match the “Credit Card Statement”
“Difference” should always be Zero
Click “Reconcile”
“Make Payment” screen will show
Click “Cancel”
“Select Reconciliation Report” screen will show
Summary
Detail
Both
Click “Display”
Go up to “Print”
“Report”

**Hide transactions after the statement’s date end date – checkmark to hide all transactions after the for period date

**Click Modify if you need to adjust anything in your reconciliation

➡️ Entering Payments
**You can enter them in Write Checks or Check Register

Go to “Write Checks”
Select the “Bank Account”
“No.”
“Date”
“Pay to order of” (Credit Card is a Vendor)
“$” amount
Enter your breakdown under the “Expenses” Tab
Click “Save & Close”

**After entering in Write Checks, it will automatically show in the Check Register

Timestamps:

0:00 – Intro
0:03 – Where you’re Credit Card sit in QuickBooks?
0:50 – Add Credit Card
2:31 – Q&A
3:35 – How to Enter Credit Card Charges
5:34 – Reconcile credit card
7:32 – Remember 💡
9:05 – Outstanding balance
10:14 – Printing Report
10:43 – Adding Payments (Catching up)
13:25 – Payment shows in Check Register
13:54 – Checking Chart of Accounts
14:18 – Checking old transactions
15:11 – Summary
15:27 – Final Thoughts

Need to learn more areas of QuickBooks? Join us on our next workshop to learn how to design QuickBooks for your specific business…
➡️ https://CandusKampfer.com/workshop​

Receive our QB tips straight to your inbox each week visit:
➡️ https://CandusKampfer.com/tips​

Subscribe here for more QuickBooks tips 👇
https://www.youtube.com/c/CandusKampfer?sub_confirmation=1

I’d love to connect with you 👇

Instagram: https://www.instagram.com/candus.kampfer
Facebook: https://www.facebook.com/CandusKampfer
CandusKampfer.com: https://canduskampfer.com/
TikTok: https://www.tiktok.com/@canduskampfer
Pinterest: https://www.pinterest.com/canduskampfer/

#CandusKampfer

Are Credit Cards Considered Revolving Debt, How to enter Credit Card Charges, Reconcile and apply Partial Payments in QuickBooks.

An Insolvency Lawyer Assists Individuals Get Out Of Debt

Now that you understand where you stand, create a budget, and stay with it. There are two kinds of expenses, the fixed and on-demand costs. There are different methods to get rid of these high interest rate balances.

How to enter Credit Card Charges, Reconcile and apply Partial Payments in QuickBooks, Watch trending high definition online streaming videos about Are Credit Cards Considered Revolving Debt.

How To Clear College Debt Free

By discharged, that implies all or a part of them will be entirely gotten rid of. Remember, the goal here is Debt Free in 5 years, not 5 minutes. Cleaning all debts relieves tension from one’s mind.

Many customers have actually badly cut back on costs as their earnings outlooks have actually become cloudier. As just recently as 2008, studies showed the average cardholder has 7.6 cards. Unfortunately, although the costs has actually stopped, the financial obligation collected in the last few years still has to be paid off.

Initially, let’s understand unSecured Debt. Secured Debt is has a tangible item connected to it, such as a home, a vehicle, a boat, a motorbike, or anything else that is utilized for security. Unsecured financial obligation has no tangible item connected to it for security. The truest example of unsecured financial obligation is credit card debt. This is the very first thing that financial obligation settlement business consider when qualifying you for financial obligation settlement programs.

Sometimes, debt can avoid us. This is the time to swing into action and try to get a strategy that can assist you finally escape the debt cycle that has the possible to bankrupt many American Households.

Make a commitment. There is something extremely effective that takes place when you make a commitment. Put Your Commitment in Composing. When you are dedicated put it in writing, finalizing and dating the dedication you have made. Then take it an action further share it with a relied on good friend or close relative and inquire to help keep you liable to your goal of being Debt Free.

Let’s expect you earn $60,000 year. In this case, if you’re carrying more than $6,000 in Revolving Debt, your ability to react to a financial crisis might be limited. Bring a balance in excess of 10% of your earnings is not exactly terminal however is a signal that you should begin working to lower your balances as quickly as possible. It is necessary to comprehend that this is different from having minimum month-to-month payments that go beyond 10% of your income. They will exceed your income if you have minimum payments this high. That’s not a danger signal it’s a glaring red sign that you need to get to a credit therapist post haste.

It is constantly better to choose for a choice that does not destroy your repute forever. By submitting insolvency one completely ruins their credit report however with the assistance of financial obligation relief programs ones prominence will be reduced but with the passage of time one can regain their prominence. Most notably one can become a debt complimentary a lot faster and in a much safer method with a future for more loans and charge card use. Whereas bankruptcy would ruin ones image forever and they would never ever be able to take loans once again from any banks.

Because the statistics paint an opposite image of what our creditors are truly telling us, these credit card financial obligation facts are alarming to the typical consumer. At the end of 2009 revolving financial obligation is anticipated to be around $990 billion. The shocking part about these statistics is that America’s wealth is slowly declining while debt is increasing at a faster rate. If excess financial obligation is something that has taken advantage or your financial resources, you might certify to have your debts removed.

To put it simply, it is not going to occur over night or rapidly. I indicate neglect what other individuals are DOING AROUND YOU. Beginning this way of life will require you to save for the products that you want.

If you are finding more exciting comparisons relevant with Are Credit Cards Considered Revolving Debt, and debt Management Companies, Consolidation Loans Make, Prudent Financial you are requested to list your email address for email subscription DB totally free.