Chapter 9. Paying with Plastic

In This Chapter

  • Setting up and selecting credit card accounts

  • Entering credit card charges

  • Changing charges that you've already entered

  • Reconciling credit card statements

  • Paying the monthly credit card bill

  • Handling debit cards

  • Handling customer credit cards

You can use QuickBooks to track your business credit cards in much the same way that you use it to keep a checkbook. The process is almost the same but with a few wrinkles.

By the way, although this chapter is really about you charging money on your credit cards, at the very end of the chapter, I talk about how to handle the tricky problem of your customers paying with credit cards.

Tracking Business Credit Cards

If you want to track credit card spending and balances with QuickBooks, you need to set up a credit card account — if you didn't already do so in the EasyStep Interview, which you can read about in Chapter 2. (In comparison, you use bank accounts to track things such as the money that flows into and out of a checking, savings, or petty cash account.)

Setting up a credit card account

To set up a credit card account, you follow roughly the same steps that you use to set up a bank account:

  1. Choose Lists

    Setting up a credit card account

    Or click the Chart of Accounts icon on the Home screen. QuickBooks displays the Chart of Accounts window, as shown in Figure 9-1.

  2. Click the Account button in the lower-left corner of the Chart of Accounts window ...

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