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This article focusses on reconciling your Truss Card Account by uploading the CSV file of your Truss Card Statement.
Please note, you may also reconcile the card account by connecting the account to QBO. This second option is ongoing and automatic. You can learn how here.
1. Add a new Chart of Accounts for Truss Cards in QBO
Log into Quickbooks Online with your details.
Under the Bookkeeping tab, click 'Chart of accounts'.
Click 'New' to add a new account.
Fill in the fields with the following settings:
Account Type: Credit Card
Name: Truss Card
Detail Type: Credit Card
Select the date at which the transactions start.
Set the opening balance as zero (or use the starting balance if applicable).
Click 'Save and Close'.
2. Download your Truss Card Account statement
Login to your Truss dashboard.
Navigate to Accounts > Card account > Statements
Click on the statement you want to reconcile and click on the 'Download as CSV' button in the top-right corner of the dashboard.
3. Reconciling a Truss Card statement in QBO
3.1 Upload your Truss Cash Account statement
Under the Bookkeeping tab, click 'Transactions'.
Open the 'Link account' dropdown to select 'Upload from file'.
Upload the previously downloaded CSV statement file (see step 2).
Select the respective account for the uploaded transactions file (e.g. 'Truss Card').
Review the formatting of your data and set the date format to 'mm/dd/yyyy'. When everything looks good, click 'Continue'.
Select all transactions you want to import from the list and click 'Continue'.
All imported transactions will then show on the 'Truss Card' account under the 'For Review' tab.
3.2 Review & categorize transactions
Review all transactions and categorize the 'Vendor' and 'Category' field. You can also select a 'Customer', if the expense is billable to a customer.
Hint: For card repayments, select 'Record as credit card payment' and create a rule to automatically match card payments with your Cash account.
Once reviewed, confirm each transaction individually or select multiple transactions at once and click 'Confirm'.
All confirmed transactions will then show under the 'Categorized' tab.
3.3 Reconcile the account
Go to 'Reconcile' under the 'Bookkeeping' tab.
Select the 'Truss Card' account from the dropdown. Enter '0.00' as your ending balance and select the ending date of the statement. Click 'Start reconciling'.
Ensure that the values equal to zero at the end to ensure it has been balanced properly. You can save this for later or click 'Finish now'. to finalize reconciliation.
