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Processing Purchase Receipts That Are Paid with a Credit Card For QuickBooks Desktop
Processing Purchase Receipts That Are Paid with a Credit Card For QuickBooks Desktop

If you have paid a vendor for a purchase from QuickBooks Desktop, this article shows you how you would process them with Aspire.

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Written by Aspire Software
Updated over a week ago

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Some companies might pay for vendor material with a credit card. These types of payment entries still need to be recorded for your purchasing record in Aspire and also get into your QuickBooks Desktop account.

Creating a Purchase Receipt in Aspire

Entering credit card purchases in Aspire is necessary for accurate bookkeeping. To do this:

  • In the Quick Menu, click New Purchase.

  • Fill out your Purchase Receipt into Aspire for your vendor payment.

    • Enter CC to indicate that it was paid with a credit card on the Invoice # field. This will help you easily identify receipts paid with a Credit Card when synced with QBDT!

  • Approve the Purchase Receipt; this makes sure the Purchase Receipt syncs to QuickBooks Desktop.

📑To learn more about approving Purchase Receipts, please read Purchasing- Approving Purchase Receipts, here.

Processing the Purchase Receipts in QuickBooks Desktop

  • If you haven't already, create an account in QuickBooks Desktop for the credit card as a credit card liability account.

    • For example: Visa or American Express

  • When paying that vendor bill, check the purchase receipt that came over from Aspire.

  • Change the Method to Credit Card

  • Select the Account to the correct credit card liability account.

Once the vendor bill is paid with the credit card, it will no longer be in Accounts Payable but will show in the credit card liability account on the balance sheet.

  • When the credit card bill/statement is received, that statement can be reconciled to that credit card liability account. Go to Banking ➡️ Reconcile ➡️ and choose the correct credit card account you want to reconcile.

  • Enter the Statement Date and Ending Balance. Click continue.

  • The reconciliation page will show. This will need to be reconciled with the statement.

  • Check off all charges on the left and all payments to the right. If there are charges on the statement that are not on this list, they will need to be entered in this liability account.

    • To enter charges individually, go to Banking, Enter Credit Card charges.

  • Once all the charges are entered, go back to the reconciliation page and check off all remaining charges. The difference at the bottom should be $0.

  • Once the difference is $0, click ‘Reconcile Now’.

If this is the 1st time using this liability account, and there is a beginning balance from prior months, review what the beginning balance consists of and enter a bill into your accounts payable for the “Credit Card” vendor for any beginning balance. Otherwise, you could enter the previous charges prior to Aspire and reconcile as stated above.

  • The screen below will show. You can either select Write a check for payment now or Enter a bill for payment later.

  • If you check Enter a bill for payment later, it will show a bill.

  • Fill in the vendor as the credit card.

  • Once saved, the bill for the credit card statement will show on the A/R Aging Report.

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