Reconciling credit card statements

Problem reported by Melanie Bushell 8 years ago

Each month I have posted each credit card transaction separately into Clearbooks, a couple of which were refunds to the credit card. When I come to reconcile the bank statement using multiple transactions, it only gives options of purchase invoices for each supplier to set against the total amount so I am unable to fully reconcile the total amount showing to the credit card provider as some of these were credits. Can anyone help?

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HI Melanie

I'm not so sure I fully understand your query so i'll just break down how i'd see things happening:

  1. You make sure you've got a separate credit card bank a/c set up in Clear Books
  2. Throughout the month you would input any credit card expenditure as normal, ensuring the payments come out of the credit card bank a/c.
  3. At the end of the month you would import your credit card statement as normal, reconciling it against the items you've already input [and tidying up anything you may have missed - keep an eye out for the likes of charges/interest/refunds etc]
  4. When you make a physical payment from your current a/c to your credit card to pay the balance off you would simply class this as a transfer between accounts in Clear Books.

Does that somehow answer your Q?

8 years ago

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