How to reconcile a credit card that has an ongoing billing dispute?

Question

I currently have an ongoing billing dispute/inquiry on my American Express Business Charge Card that is causing me problems when reconciling this account in Quickbooks. Since my statement balance doesn't reflect the dollar amount in dispute, how can I reconcile?

Answer 1

You could make an entry for the disputed charge as if you were going to lose the dispute, and a second entry that reverses the charge as if you were going to win the dispute. You could then reconcile the account by including the first charge in the reconciliation and excluding the reversal until the issue has been resolved.

Answer 2

What I would prefer is top open a new category charges under dispute and park the amount there. It can be made as an account as well in place of a income or expenses category.

This way your account will reconcile and also you will be able to track the disputes.