Credit Card Reconciliation refers to the process that is carried out when credit card statements are received. This can also be done when the financial period closes. It involves checking the integrity of data between credit card statements and your financial institution.
For the reconciliation process, the accounting professionals go through each and every transaction in the credit card statement and match it with the internal system of the company. There are different ways to record a payment to a credit card. You can:
Creating a QuickBooks account for each credit card is essential for every business. Here the type of account created will be Credit Card. For a debit card, the transactions are entered directly into the bank account check register and not on the Credit Card account type.
No matter QuickBooks is smartly engineered accounting application but there are circumstances when an error occurs and user faces problem in handling the software. Credit card payments not being visible in the reconciliation is one of the common error reported by the QuickBooks users.
There are four common errors that are commonly reported by QuickBooks users. They are as follows:
When any of the above-given error appears then you may experience:
Reconciliation of credit card transactions in QuickBooks is similar to the bank reconciliation process. If in case you continue to face the same issue i.e. “QuickBooks Credit Card Payment not showing up in Reconciliation” then it should be checked if credit card statement is reconciled to the charges.
If you don’t see a solution to your query and continue to face bug then it is quite a possibility that you may have some serious issues with your QuickBooks. We would here request you get in touch with our QuickBooks proadvisors as soon as possible. Delaying things most likely may cause some severe problems within your system. Thus wait no longer and give us a call now.
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