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Do you use/like the Quickbooks Credit Card Reconciliation feature?

Is it easy to process/reconcile as a Credit Card transaction, or is it too much of a hassle and do you then process through AP or GL? Do you import your transaction activity from the processor? (Is there a different approach if you are using one card and want to track who processed what?)

Answers

Topic Expert
Jaime Campbell
Title: Chief Financial Officer
Company: Tier One Services, LLC
(Chief Financial Officer, Tier One Services, LLC) |

I absolutely use the credit card reconciliation feature, whether or not the transactions are downloaded from the bank.

I do not mix up the credit card accounts and A/P.

To track who processed what, the simplest way is to put the initials of the cardholder in the Reference field and then run some reports based on that field.

Don't fall into the trap that many others do by creating subaccounts of the credit card account! It creates a great deal of complexity and confusion.

Feel free to ask follow-up questions here in this thread.

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