How to enter a confusing credit card expense?

Holy Lady of Kazan · ‎January 28, 2019

On our church credit card we purchased an item for another church to whom we are paying off a loan. Should we enter it like a payment toward the loan and if so, how? Or should they reimburse us for this purchase separately and if so how do we record that? What is the best way to do it?

The item is showing on our credit card bill along with our church purchases on one receipt. We are in the middle of entering this credit card bill and we are puzzled.

Thank you!

qbteachmt · ‎January 30, 2019

@Kristine Mae

Please Learn from this input. There is No bill for the credit card process.

@Holy Lady of Kazan

Let's review: "when we are entering the CC Bill, do we have to enter all the transactions separately again? "

You got your Account Activity Statement. That is not a bill to pay. These are different types of Debt or Liability.

Never enter the same details a second time, anywhere.

When you purchase using the credit card, you already paid everyone by taking micro-loans from the card provider.

There is no Bill; you will see your CC account shows you are more in debt by every Purchase transaction. And now you get the statement, which you use to Reconcile.

And at the end of the reconciliation, QB offers to make a bill; Don't Accept that offer. Use Check, or make your own entry. The Check, when you enter that you made your Payment, lists only that CC account in QB, because you paid down your debt to the card provider.

Here's your other issue: "But the on the CC registry it did not show up"

Once you entered a Bill, and you entered the same details, you entered all expenses twice. And, if you accept QB offer to enter a bill at the end of the reconciliation, the Bill shows in the CC register, but the Bill now is AP. You are running your data in circles across multiple liability accounts.

Never use a Bill for CC. Use the CC functions from the Banking menu. The Payment is a transfer between checking and CC; or a Write Check, and on the expenses tab, you list your CC account.

View solution in original post

Rustler · ‎January 29, 2019

on the CC charge, list the loan account and the amount for that item

then list the other expense accounts and the amount for your business expenditures

Holy Lady of Kazan · ‎January 30, 2019

Thank you for your answer! It did work when we entered those items on the CC charge. So all transactions now entered in details in Credit Card register, and they are in different classes too. Now we have kind of continuation of this question: when we are entering the CC Bill, do we have to enter all the transactions separately again? We tried it and then we payed the bill, but the payment did not show up on CC register, only on the checking account it was charged from. Any ideas why it did not show up? Should we enter it somehow manually?

Kristine Mae · ‎January 30, 2019

Hey there, Holy Lady of Kazan.

Yes, you'll have to create them separately since they're different transactions. Regarding the payment, it will only show in the account you used when you paid the bill.

On the bill payment window, you can only choose one bank account to where this will be posted. You can refer to my screenshot below.

If you have other questions, don't hesitate to reach out to us again.

Holy Lady of Kazan · ‎January 30, 2019

So we did this. We entered and payed the bill. It charged the checking account and the bill payment showed in checking account registry. But the on the CC registry it did not show up. CC is still showing the due balance. How do we fix that?

qbteachmt · ‎January 30, 2019