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aleksandras2
July 15, 2022
Question

CC Payments between companies

  • July 15, 2022
  • 1 reply
  • 0 views

We have one company card for two separate entities. Majority of the charges are through one account, and I have been receiving payments from the company that has lesser of the charges. How do I record the payments from the other company to the one that is accruing the balance? What is the best way to reconcile an account like this?

1 reply

L
Lenny G
July 30, 2022

Question not clear to me.

If you have one CC merchant account to receive credit card payments: Since the card deposit can only go into one bank account, the simplest is to write a check from the company the bank account is attached to to the company that actually should receive it paying the invoice for the customer who gave you the card. 

 

If you are asking how to use one credit card for multiple companies, simply pay the proportionate credit card bill from the company making the charges.  

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