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Level 1

prepaid expense card, discounted

my client has purchased a prepaid gas card through a local company. The prepaid card is worth $500 towards gas, but he only paid $480. How do I record this so that the correct amount comes out of his chequing account, but the card is still recorded as a $500 prepaid expense?

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Best answer 04-11-2019

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Highlighted
Level 15

prepaid expense card, discounted

on the payment

line one, prepaid expense, 500

other income, -20

 

the payment nets to 480

View solution in original post

1 Comment
Highlighted
Level 15

prepaid expense card, discounted

on the payment

line one, prepaid expense, 500

other income, -20

 

the payment nets to 480

View solution in original post