Credit Cards

Thanks for becoming part of the Community, The Arctic Tradesmen.

QuickBooks allows you to record credit card payments in multiple ways so you can keep track of expenses and maintain accurate financial reporting.

Here's a few things you'll want to be aware of:
 

• Positive balance - There's pending charges on your credit card.
• Negative balance - The amount you paid is more than your balance due.
• Zero balance - You didn't make any charges or you already paid your balance due.

You can pay down a credit card when you're ready to:
 

1. Use the + New button.
2. Under Money Out (if you're in Business view), or Other (if you're in Accountant view), go to Pay down credit card.
3. Choose which card you want to make your payment to.
4. Enter the amount and date.
5. Specify a bank account you paid with.
6. If you made a payment with a check, pick I made a payment with a check. In your Check no. field, enter a check number, or if you paid electronically, enter the EFT number.
7. In the event you'd like to add notes or file attachments, hit Memo and Attachments, then follow your presented instructions.
8. Select Save and Close when you're finished.

You can learn more about working with credit card balances in our Record your payments to credit cards article.

There's also a great service available through our site called QuickBooks Live Expert Assist. Each of our live experts will be able to help with guidance on the best practices for managing and making the most out of your books.

Please don't hesitate to send a reply if there's any additional questions. I'm just a post away. Have an awesome Tuesday!

@The Arctic Tradesmen  What @rvrfrf  is trying to say, without saying it, is that QBO does not offer the functionality you are asking for.

Probably the most straightforward workaround to the second half of your request is to incorporate the credit limit as part of the Credit Card account's name within QBO.

From there, it's simple mental arithmetic based on the displayed balance of said Credit Card account. Assuming QBO lets you do something as outrageous as naming your own accounts, anyway.

For the first half of your request, that's just not how credit cards work as an accounting concept, assuming I'm understanding what you're asking for. @rvrfrf  covered that part fairly well, though.