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How can I change APs into credit card charges?

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Micah Salb Posted: Sat, Aug 29 2009 2:31 AM

Folks:

I have a whole series of Accounts Payable entries that SHOULD have been credit card charges.  Is there some way to fix that?

If I write a check from my bank account to pay the Payables could I then transfer funds from the credit card to my operating account to cover the check?  If so, would I do that with a Credit Card Charge Form or just a GL transfer?

Thanks.

-Micah

-Micah Salb Lippman, Semsker & Salb, LLC Bethesda, MD (301) 656-6905 TM/BM8+
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The cleanest way to do this would be to delete the entries and enter them as credit card charges.
If you don't want to do that, then what you are proposing should work. I would probably create an "exchange bank account" and use that as the clearing account, rather than your real bank account.
I don't know that it matters which method you use, but I generally prefer to use forms and only use Journal entries (GL transfer) when necessary.

 

Caren Schwartz (Moderator/CIC)

35-45 Consulting

& Time & Cents Consultants, LLC

Southport, CT

www.3545consulting.com / www.timeandcents.com

203-254-7736

Software for Managing Time, Money & Information

Time Matters, Billing Matters, Billing Matters Plus, PC Law CIC

 

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jhatfield replied on Thu, Jan 14 2010 3:45 PM

Caren,  what would be the best method to enter a client expense the day the credit card is charged for the expense.  So that the client ledger is immediately charged and then once the card statement comes in pay from the general bank account.  The problem I have is that once the individual charges for the client can be dumped into the appropriate g/l account; but when the check is written which g/l account would I use then.

 

 

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