Chances are your business has at least one credit card. In our experience, the proper credit card balance is rarely displayed in QuickBooks.
We recommend that you record credit card charges similarly to how you record checks in your checking account. Each charge would be entered separately. To do this, go to the banking menu -> enter credit card charges. Payments would be posted directly to your credit card payable account.
Each month, you would reconcile this account when you get your credit card statement. You would reconcile this account in the same manner that you reconcile your checking account.
Remember that charges made on your credit card, but not yet paid, at year-end are deductible. Yourmust be aware of your proper year-end credit card balance so that you can take advantage of this deduction.