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S
sprints
August 4, 2020
Question

Purchase was paid by credit card-how to match with credit card statement

  • August 4, 2020
  • 1 reply
  • 0 views

I created a purchase order, received the items and entered the invoice. The invoice was paid by selecting the credit card being used instead of writing a check for payment.

 

The credit card statement was received with a mix of personal and business expenses. For the business charges that were paid by credit card, how do I enter those so a check can be paid to the credit card company? I think I use the reconcile but it shows a beginning balance that is not correct. Possibly caused by my not doing something correctly in the past.

 

I'm lost, any tips are much appreciated.

1 reply

J
JamesM
August 5, 2020

Hi there,

 

Making sure you're recording your transactions the right way is a good exercise for preventing errors in your books. I'd be happy to steer you in the right direction so you can focus on doing the things you enjoy. 

 

To ensure accuracy in your books, I recommend contacting an accounting professional to get more info on recording the transactions. Doing this will help prevent any future discrepancies in your books. If you're not in contact with one, I encourage you to search for one on our website using this link here.

 

I'll also leave this question here so other accounting professional members can chime in. Let me know if you have other questions. I'm here to help.

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