PLEASE MAKE SURE ALL CORRESPONDENCE GOES THROUGH THE MESSAGE BOARD FOR FUTURE REFERENCE.
INSTRUCTIONS:
This is a Credit card account
Name of Account in QB: Chase CC
Statement location: Statements are provided by customer (EastBiz) in PDF format each month. They are sent through message board.
Classifying transactions
- Many of the transactions are repeating and are already in QB.
- If you don’t know what is the transaction for please email through message board (using category: Transaction Questions). Email copy to John Vanhara. This is John’s credit card. He will tell you what is the transaction for.
Go to BANKING → ENTER CREDIT CARD CHARGES
New window will appear for entering CC charges
Choices to be selected:
Left top: CREDIT CARD select Chase CC
Purchased from select correct Vendor. Check previous transactions for answers to account questions prior to posting question on message board. Many of these transactions repeat on a regular basis.
Account: Will vary by Vendor and Items purchased. Any questions post to message board under Transaction Questions.
Business: This field is not used with this Credit Card Account
Amount: enter amount and always double check for split transactions and post correctly, Also make sure it is a charge not a credit (covered under Payments and Credits)
Date: make sure the date is the same as the statement transaction date.
Payments and Credits Credits should be entered using the CREDIT feature, not as a negative in the Charge feature or by posting a payment. This is important so that refunds and credits can be tracked correctly.
CREDIT CARD payments are not done as bill payments, they are done through TRANSFER function from our Wells Fargo Account.
When you see the payment missing to the credit card account use the Transfer function in QB (transfer from Wells Fargo -checking to Chase CC). We don’t enter the payments at the time they are paid, so if they are missing always do the transfer function from Wells Fargo Checking. Make sure that all payments are made from the correct account, which is the Wells Fargo Bank account NOT the Wells Fargo Million Saver Account.
Post Reconciliation Instructions:
Once you have reconciled the month, go to the Message tab and choose DONE under categories and put the subject Chase CC – Account Reconciliation for (month & year). If there were any issues such as discrepancies or errors on the statement make sure you make a note here so that the customer and anyone else accessing the account can see them. This is very important as that there may be several people who work with an account and communication is imperative to avoid problems later on.