Credit Card Payment
Divvy accounts are set to automatically deduct the full balance from all cards based on your personal settings.
This might be Monthly on the 1st or 15th or may be weekly depending on what you've set up.
When it comes time to record this payment in QuickBooks, it is no longer required that you split the Divvy payment across the various categories.
Expenses are recognized when the transaction occurs and syncs automatically when integrated with QuickBooks.
As a reminder - only transactions that are complete within 7 days of the charge will automatically sync with QuickBooks. This is in line with the financial obligations outlined in the AYSO Reference Book.
What does a Complete Transaction Require?
In order for Divvy to mark a transaction as complete, the transaction must have:
- Budget Assigned
- NAP Code selected
- Receipt Attached
How do I record the credit card payment in QuickBooks
When the payment clears your bank, simply categorize the full payment to your 2150 Divvy Credit Card Account
- This account acts as a clearing account, holding the transactions to give you a running balance of what you will owe at the end of the period.
- When the payment is made, this account will have a zero balance if all expenses and payments are categorized properly.
Do I need to reconcile my 2150 Divvy Credit Card Payable Account?
Absolutely. Just like a bank, your Credit Card Statement needs to be Reconciled against what is reflected in QuickBooks. This is the only way to identify missing expenses or fraudulent usage of a compromised card.
Are Divvy Reimbursements treated the same as Divvy Credit Card Transactions?
No they are completely different.
- The Divvy charges made with your card are paid all at once per the settings on your account.
- Divvy Reimbursements are paid at the time of approval and are similar to writing a check.
Divvy reimbursements should be categorized like any other bank payment to the appropriate category for what you are reimbursing and include the proper attached documentation.
Back to QuickBooks User Guide Home | Learn how to Categorize or Match Transactions | Reconciling your Bank and Divvy Account
