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February 12, 2023

How to categorise payments I receive from my credit card service provider

  • February 12, 2023
  • 1 reply
  • 1 view

Hello - I receive a regular aggregated payment from my credit card service provider. This relates to numerous customer transactions. Anyone have any ideas for how I would categorise this credit card service provider transaction in my bank transactions?

    1 reply

    MariaSoledadG
    QuickBooks Team
    February 12, 2023

    I'll guide you on how to categorize payments you receive from your credit card provider, SteveGHO.

     

    QuickBooks Online (QBO) allows you to record credit card payments so you can keep track of your bank transactions. You can categorise them in bulk for multiple transactions or you can manually do the categorization one by one. I'll show you how:

     

    To categorise multiple transactions to only one account, select the transactions by ticking the box.

     

     

    After that, click the Update button at the upper part of the Description column so you can enter the correct category.

     

     

    For categorising a single transaction, you can select the specific transaction and categorise them under the Category field. 

     

     

    To know more about how QuickBooks tries to add or match with transactions you've already entered in your QBO account, you can go over in this article for more information: Categorise And Match Online Bank Transactions In QuickBooks Online.

     

    Aside from that, you'll want to review your accounts to make sure they match your bank and credit card statements. learn from this article on how to reconcile them:  Reconcile An Account In QuickBooks Online.

     

    Let me know if you need further assistance with categorising your bank transactions. I'll always be right here to help you all the time. 

    SteveGHOAuthor
    February 15, 2023

     

    Thank you Maria - I have the opposite problem in that my credit card service provider aggregates all transactions (multiple customer payments) in a period and pays me in a lump sum. Good to know how to categorise that.