Credit card transaction reversed & main bank payment to credit card

[urbancolourscheme]

Hi there,
I run a very small limited company that owns only 1 property.
I have one current account where all the rent comes in, and some expenses go out via this account.
However, I also have a credit card account (direct debit set up to pay each month from the current acc.). I have uploaded the credit card transactions but where money is spent (expenses), is shown as money in. And then it also shows the monthly direct debit to my current account as money out.

I don’t really know how to tag the transactions if they are the wrong way round. I imported via CSV and created my own template to map the correct columns.

I have a number of basic accounting questions hope someone can help. I am not a bookeeper, just trying to use Quickfile hopefully to simplify my bookeeping so that I can give the ‘report’ to the accountant.

1. I have deleted all the monthly transactions from my current account to pays of the credit card bill - is that ok? The summary dashboard thinks that I owe a large sum of unpaid debt.
2. Shall I leave the credit card uploaded transactions as showing ‘money in’ (but they are actually expenses spent). or shall I amend the CSV manually to reverse them myself, so that when the transactions come into quickfile, it will be shown as money out
3. shall I delete the monthly credit card payment transaction that is shown as money in? but they are actually money out and taken out from the current account.

I hope someone can help me. I am evidently learning! Thank you so much in advance.

[QFSteve]

Hello @urbancolourscheme

When you import credit card transactions there is an option to reverse the import.

1. I have deleted all the monthly transactions from my current account to pays of the credit card bill - is that ok? The summary dashboard thinks that I owe a large sum of unpaid debt.

Have you entered an opening balance for the bank account?

This can be done by clicking Options > Settings from the banking screen (next to the relevant account)

2. Shall I leave the credit card uploaded transactions as showing ‘money in’ (but they are actually expenses spent). or shall I amend the CSV manually to reverse them myself, so that when the transactions come into quickfile, it will be shown as money out

No, you can remove the transactions by clicking Options > View recent batch uploads and deleting the import. You can then import them again using I mentioned earlier.