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You are here: Experts > Shopping > Credit/Debt Management > Quicken & Other Budget/Accounting Software > entering credit card statement@ charges
Expert: Karin Hostetler
Date: 6/17/2008
Subject: entering credit card statement@ charges
Question
QUESTION: I already balance my bank statement, which had all credit cards payment on it. I want to enter my credit card statements with the separate vendors like gas, supplies and ect. My question is do I enter it under each separate
account in home page under credit cards and do I put the interest paid on that account. Will they show up in my profit and losses.
ANSWER: Hi Delores,
Which software are you using?
Karin
---------- FOLLOW-UP ----------
QUESTION: Answer to your question, I am using Quickbooks pro 2008. I am sorry I did not tell you that.
Answer
Hi Delores,
What you need to do do is set up credit card accounts for each credit card that you have. (If you are going to enter historical information into these accounts you will need to change the account on the credit card payments to each credit card)
To do this you would do the following:
1. click on lists
2. Click on Chart of accounts
3. at the bottom of the window click on Account
4. Click on new
5. Put a dot in the credit card option
6. click continue
7. Enter the pertinent information (i would replace the first eight account numbers with X's to keep the information sage)
8. Either click save and close - or save and new if you need to enter another one
You need to decide if you want to go back and enter historical info from Jan 1 forward or if you just want to start with the current statement.
You will also need to know what the beginning balance is (no matter which date you chose)
When you reconcile the credit card statement (Under banking, reconcile) there is a place to enter your interest charges
Hope this helps
Karin
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