4 Easy Steps to Set Up Company Credit Cards in QuickBooks

If you are working with multiple credit cards that have one parent account, here is a setup option to make things much easier and cleaner for reconciliations.

Steps:

1. Open chart of accounts
2. Create a parent credit card account
3. Create a sub credit card account called main or parent sub account (this is used to enter or download transactions that post to the parent account)
4. Create additional sub credit card accounts for each one you have

This is how it will look in Chart of Accounts:

This set up will allow you to reconcile your bank’s statement to the parent account since everything in your subaccounts roll up to the parent.

Notes: DO NOT CONNECT the parent account to the bank feed in order to download transactions; if you do, you’ll get an error. Only connect your bank feed to your subaccounts.