QB Issue Resolution:
Here’s why you misunderstand the credit card functions.
“I entered the credit card items on one expense sheet and itemized them”
That is not a Bill. That is your Account Statement.
“putting into correct categories.”
You did not buy anything from VISA or Amex. They are your Lender.
Each date you buy something, you took a Micro-loan from the card provider. You bought from other parties on different dates. That is “Expense” as From the Credit Card Type of Account and not From Checking.
“When my check clears bank, will this show up as double on the expenses?”
Because it is Debt Payment, not Expense. Your Checking entry is “Expense” as between Checking and the Credit Card Type of account in the Balance Sheet. You just paid down the debt balance.
You use the Account Statement to Reconcile, to check for fraud or mistakes or typos.
“Which is best way to enter expenses for credit card?”
As individual Credit Card Purchase expense entries. This is a Liability.
There is no Bill. Bill = AP; that is a completely Different Liability. AP = this Name let you take things to be paid later.
The use of a CC means you already paid all those suppliers by going more into debt with VISA and Amex. It’s not AP and there is no Bill.
It’s more like a Line Of Credit. When you make your payment to VISA or Amex, you paid down the running Balance. You did not buy more Office supplies, again.
Resolution for Issue 'I entered my credit card bill as one Expense sheet with different categories for each trans.. When the check goes through my bank, will it double the amount of expenses?' available: Yes (Solved).
Source: Intuit Community forum.
I entered my credit card bill as one Expense sheet with different categories for each trans.. When the check goes through my bank, will it double the amount of expenses?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for account statement
Quickbooks Repair Pro will resolve it efficiently and affordably. Guaranteed resolution of your issue, or you pay nothing!
Error Recovery for account statement [Canada]
E-Tech is the #1 Quickbooks data migration and Conversion service provider.
Additional Support Options: