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Join nowHello, I have booked the following: DR $99.98 to Telecom expense acct. and CR to credit card payable (with other entries as well from the credit card) to book our credit card payable. I also have created a bill for the $99.98 for Telecom expenses which debits Accounts Payable account. How can I book the bill as "paid" without double booking the Telecom expense account?
Thank you in advance!
Solved! Go to Solution.
Remove the $99.98 debit to Telecom Expense and credit to CC Payable on the journal entry (JE). If you want the bill to show as paid and keep the JE as it is for some reason, you can create a journal entry that debits CC Payable and credits Telecom Expense for $99.98. That will reverse the double-booking of the JE and bill.
Remove the $99.98 debit to Telecom Expense and credit to CC Payable on the journal entry (JE). If you want the bill to show as paid and keep the JE as it is for some reason, you can create a journal entry that debits CC Payable and credits Telecom Expense for $99.98. That will reverse the double-booking of the JE and bill.
Thank you! I'll try that!
Hi Rainflurry!
I'm glad you're helping the OP on how to book their transaction. We really appreciate you for always sharing your expertise in the Community. Have a good one!
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