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Adjust credit card field

welcome back we're working in module 10 now where we're talking about working with credit cards we've already gone through section 1 where we talked about setting up credit card accounts we did that actually in the chart of accounts remember that you can't enter a credit card transaction unless you have a credit card account to actually enter it into so that's what we're going to talk about here in section 2 entering credit card transactions what you'll want to do is make sure that every credit card transaction is actually entered in QuickBooks and the way you do that is you'll see there's an option here on the home screen that says enter credit card charges this option will not even be here if you don't have at least one credit card setup in the chart of account so make sure you've done that first I'm going to click on enter credit card charges and show you how to enter these now the first option you'll want to make sure you've got correct is the credit card because you can switch back and forth between the different ones that you have and make sure that it's a purchase or if it's a refund you've chosen this option here you'll see when you choose refund or credit that is a different color than the purchase or charge option then it asks you who is this purchase from let's say that we went to Staples and we bought some office supplies I'm going to go ahead and change the date to the date of the transaction and then the amount is the amount that I spent at Staples you don't really need to put anything in the reference number field it's just kind of an optional field there and also notice there's a place for a memo where you can say anything you'd like at the bottom I can break up my hundred and twenty-five dollars between the expenses and the items if I needed to but let's say that this was office supplies and $75 went to that let's also say that some of this was for printing and reproduction so see how you can split the transaction up amongst multiple accounts notice for each of these lines that I can also specify is for a particular customer or job that will go back to my job costing if to do that but if it's just office supplies this probably does not go back to a job also is this billable meaning do I need to turn around the invoice my customer for this at the end of the month and also if I'm using the class feature I can fill that in here as well I'm going to go ahead and hit save and new and fill in the second one let's say that after we went to Staples I decided that it was time to go have something to eat so I went to Olive Garden and I'll say the date was December 30th and I spent 38 dollars and 64 cents on meals pretty easy there right same thing would apply if you needed a memo here you could certainly add one and also if it's for a particular customer and job into a class you can set those fields as well now I'm going to enter one more I'm going to save and new I decided to return some of those items to Staples so I'm going to choose refund and credit this time again I'm going to choose my vendor the date of the transaction and the amount I'm going to say that I'm returning $40 worth of office supplies and again customer and job in class you can fill those out as well so that's the quickest way to go ahead and add these transactions now I'm just going to save a new for a moment because I wanted to go through your options that you have up here under these two tabs starting with the main tab you know about a lot of these already here's how you can search through your credit card transactions here's your new option we've talked about your saving your delete and create a copy of memorize you can also attach a file to this as well so if you scanned in your statement for example you may want to attach it for whatever reason now I do want to mention the download credit card charges you do have the ability to download all those charges directly into QuickBooks so you don't have to type them by hand you would have to go in and set this up so it recognizes your bank it'll ask you the name of your bank and also ask you the username and password and once that's done you can do load these and it's really a pretty easy process to do this if you have a lot of transactions I would do this but it wouldn't wait till the end of the month I'd probably do it on a regular basis like once a week or whatever is convenient for you you also know how to clear the splits and recalculate we've talked about that a hundred times now under the reports tab here are the reports related to credit card transactions you can see you can look at expenses by vendor or the previous reconciliation there's also some transaction history reports over here as well that's pretty much how you enter your credit card charges nothing hard there at all I'm going to save and close and now what I want to do is have you go over to section 3 so I can show you how to reconcile the credit cards and to make a payment towards that credit card hi I'm Molly thanks for watching if you need additional QuickBooks Pro training to help you effectively manage your small business check out our complete training courses for QuickBooks Pro click the learn more button on the left and I'll see you next week with additional videos