Business Credit Card account with multiple users

Ched_C

We have a business credit card account with multiple cards for employees. When this was added to Quicken, a separate account was set up for each card plus the main account. The individual accounts show purchase transactions, the main account lists payments and any fees billed. But the total accounts do not reconcile to show a real picture of the overall status. While the main account has an accurate balance of the account, the individual cards never reflect payments, therefore giving an inaccurate accounting of current financial status.

How can this be better addressed?

Frankx

HI @Ched_C

Can you clarify a few things? 

1) Is it true that all these accounts are "connected" accounts and that you are downloading transactions and balances for all of them?  Or, are all of these transactions "manual only" (i.e. no downloading)? Or is it a hybrid?

2) You said "the main account has an accurate balance of the account". Are you referring to the "Ending Balance" or the "Online Balance"?

3) And just to be certain - you said "the main account lists payments and any fees billed"  Does the main account show ANY charges for purchase transactions made with the "individual accounts"?

Frankx

Peignans

Hi @Frankx,

I totally understand what @Ched_C is talking about, I have the same exact problem. When you try bringing your Chase Business Credit Card over to quicken on the setup process, so it downloads the transactions automatically, Quicken force you to open an account for each additional card member to the same credit card account. The Problem with this is, it is really one credit card account on the Chase side of things, with multiple credit card numbers for each additional user. So when you make a payment to the credit card, it only reflects on the main user account of the credit card in Quicken, so the other additional accounts will not reflect the payment when syncing Quicken with Chase, leaving those accounts always with a balance. Moreover, if you decide not to bring the additional card members to Quicken, then the individual charges on each additional cards will not reflect in Quicken when syncing with the main credit card account user, still throwing the balance off. So it doesn't matter which way I go, the local balance will always differ of the online balance.

Chris_QPW

Is the connect method Direct Connect?

With Direct Connect it is totally up to the financial institution on all of these points.
It decides how many accounts there are, as in if it is one or many.  It decides on what transactions are sent to what account.  Quicken is just receiving OFX messages telling it what to do.  This can all be verified by looking at what is sent in the OFX log (Help -> Log Files -> OFX Log)

Peignans

Hi @Chris_QPW ,

I appreciate the reply. I'm using Quicken Connect. After I successfully initiate the connection with my bank, is when Quicken presents me with all the accounts that finds and prompt me to create a new account or link it to an existing account locally. That's where I get the Main credit card account, and the additional card holders, which is presented as a different accounts by Quicken. I tried to link them all to the same locally, but it doesn't let me. That's when Quicken becomes useless for my current credit card account, because of the additional card holders.

Chris_QPW

With Quicken Connect (Note this is a Windows thread, so for here would be Express Web Connect), it gets a bit "fuzzier" of what controls each detail because there are multiple parties involved.

As in Quicken (the program) -> Quicken Server -> Intuit Server -> Financial institution's website.

But in general, it is still the financial institution that usually decides what accounts there are and what transactions go into each account.

Ps56k2

Not sure if this would help - but what about using the "Category [transfer-account]" type of accounting.

Each sub account would show the charges... and then they could manually be "transferred" to the bottom line of the "main" account.

I do this with my Paypal vs Mastercard accounts (but in reverse) ....
All my Paypal transactions have all the real data for the purchase.  When they actually get settled and charged to my Mastercard, the MC transaction gets downloaded, and I manually edit the Category to reflect "[paypal-acct]" so the payment flows over to to my paypal acct and zeroes out any of the paypal charges.

Ched_C

Thanks -- great suggestion for a workaround! Apprecitate!

Ched_C

@Frankx -- first off, thanks to you and the others who have responded. This is my first time using the Quicken Discussions and I had not until now realized that there were responses to my query.

To answer your questions -- the connection method is Web Connect. I cannot seem to get Direct Connect to work with the Business Accounts we have thru B of A.

The Main account has the accurate ONLINE Balance that is shown by B of A. And it lists no charges that are made by the actual purchasing cards on the account. It only lists Payments against the Balance and fees / interest if applicable.

Peignans

Thank you @Ps56k2. Great workaround, since it looks Quicken doesn't know, or cannot, manage this use case.