Hello AldrinS
I have a dilemma as well. I hope you can help me. Here is what happened.
We pay on the first of the month, for that month. We have additional liablility deductions that I took out for January, but they should not have been taken out until February's check because of the way the Insurance company bills. They bill for the insurance AFTER the month.
So my January's liability check is for too much. If I mail the check they will not give me a credit for the amount overpaid. They want a check for the exact amount.
so I don't know what to do. do I cut them a check, applying correct amount to 'insurance expense' just to get it right with them? but what do I do with the liability check? write it out to company, crediting insurance expense? to offset? and then there will be a balance left over there? hope you can help me. I'm not familiar with this at all.
