Accounting question Quickbooks

[dreamingat30fps]

So for one of my online businesses my partner handles entering crap into Quickbooks. Long story short we use to have one way we did this but now because of the volume of orders we had to switch (saving me a bunch of time). Now he says because of the switch he's having issues reconciling the month. He wants to go back to the old way, I don't, so I'm trying to help find a solution.

I am not a QB expert but from my understanding the issue is as follows. We pay for all invoice with a credit card which we then pay off, however we don't always pay it off completely with every payment. The issue he says is matching the payment to the card with the corresponding invoices. So that he can reconcile the month.

So I guess the questions is wether QB has some kind of way to do this or maybe we should be doing it a different way, he's not a QB expert either so any input would be appreciated.

[RickFLM4]

Well, if you are paying multiple invoices with the card and then partially paying the card, you can't match credit card payments to invoices. Maybe I am not understanding the issue, but it sounds like you are trying to mix apples and oranges.

You should have three four:
1. Record invoices in Quickbooks when received from a vendor.
2. Record invoice payments via credit card in Quickbooks.
3. Record credit card payments in Quickbooks.
4. Reconcile (cash and credit cards when statements arrive and payables)

You may be able to download some of that information (credit card and bank) without inputting.

[dreamingat30fps]

Originally Posted by RickFLM4

Well, if you are paying multiple invoices with the card and then partially paying the card, you can't match credit card payments to invoices. Maybe I am not understanding the issue, but it sounds like you are trying to mix apples and oranges.

You should have three four:
1. Record invoices in Quickbooks when received from a vendor.
2. Record invoice payments via credit card in Quickbooks.
3. Record credit card payments in Quickbooks.
4. Reconcile (cash and credit cards when statements arrive and payables)

You may be able to download some of that information (credit card and bank) without inputting.

Thanks I think you are right. I knew it must be something stupid because he was making it out to be way harder than I think it should be. I guess he had it setup as the invoices were being paid from bank, so he didn't have a credit card setup in QB and I think that is what was causing all the issues.