2.B.1.1 Corporate Credit Card Setup | Scribe

    2.B.1.1 Corporate Credit Card Setup

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    • QuickBooksQuickBooks
    • Fast & Easy QBOFast & Easy QBO
    • IntuitIntuit
    Start in the Sample company.
    You will need to complete all lessons in this module in the same session of the Sample Company. (1/4)
    To complete this exercise, you must be in the Sample company. From your QBOA account, click on the Gear icon on the top right corner of the screen, then select Sample company.
    Note that you will be logged out of your current account. If you are sure, click "Continue" to confirm.
    Now, begin the exercise.
    One of the unique things about corporate credit cards is that typically there is one account that multiple cards fall under. This account is what you use to reconcile each month, even though it is not used for payments. Start by creating the parent account.
    From the left navigation bar, hover over Transactions, then select "Chart of accounts"
    Click "New"
    Complete the New account form as follows: āœ“ In the Account name field, type "Visa Corporate" (a). āœ“ In the Account type field, select "Credit Card" (b). āœ“ In the Detail type field, select "Credit Card" (c). āœ“ In the Opening balance field, type "0.00" (d). *Craig just started using this Visa, so at the beginning of the month, the balance was $0.* āœ“ In the As of date field, select the first day of the month (e). āœ“ In the Description field, type "Umbrella Account" (f). *Note: Ultimately there will be four Visa accounts- the parent account (which is the one you're creating now), Craig's account (primary), Emily's card, and John's card, so it may be helpful to put words here that help you discern one card from the other.*
    Click "Save"

    Craig's Visa

    Next, make Craig's card (the primary account) a sub-account of the Visa Corporate parent account you just created.
    On the line of the Credit Card account titled "Visa", click "Edit"
    Update the Account name field to "Craig's Visa (Primary)"
    Click the "Make this a subaccount" field.
    In the Parent account field, select "Visa Corporate"
    Click "Save"

    Emily and John's Visa

    Now, you can set up Emily and John's accounts.
    Click "New"
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