The type of the account will be Credit Card. An account should be established for each credit card the client has for its business. The credit card errors discussed here involve the credit cards clients possess and use to make charges and pay for expenses. The bank account balance appears correct.Accounts payable balance is high with numerous credit card bills.Credit card accounts are not reconciled.All credit card bills are recorded to the same expense account.Accounts Payable is used to enter bills for revolving debt balances.The client only makes partial payments on its credit card bills.

All debit card transactions should be entered directly into the bank account’s check register, not via the Credit Card account type. This is different than a debit card that is tied to a bank account. A QuickBooks ® account should be established for each credit card the client has for its business.