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TammieV
Level 1

Accidental use of corp. credit card

Hello,

 

I have a vendor who does work for two companies that we operate. That vendor used the credit card number of business #2 (Clu) to pay for work they completed for business of #1 (Pro). Then I created an invoice so that one company could pay back the other. Now that invoice is showing up on the p&L as sales/income but it is not. How do I correct this problem? I simply wanted one business to reimburse the other for the accidental use of the business card.

 

The card that was used belongs to a c-corp.

 

Help!!!

2 Comments 2
ShiellaGraceA
QuickBooks Team

Accidental use of corp. credit card

Thanks for posting here, @TammieV.

 

I'll share some information about correcting your vendor payments. You can make a vendor credit for business #2 and then create a journal entry to transfer the payments. Use the Accounts Payable for business #2.

 

Here's how to make a vendor credit:

 

  1. Go to +New.
  2. Choose Vendor credit under Vendors.
  3. Fill in the vendor details of business #2.
  4. Click Save and close.

 

After that, create a journal entry. Here's how:

 

  1. Go to +New.
  2. Select Journal entry under Other.
  3. Enter the offsetting Accounts. Make sure to choose Accounts Payable for business #2.
  4. Click Save and new.

 

With the above steps, you're able to reimburse or transfer payments from business #1 into your business card.

 

For more information about the steps, please check out these guides:

 

 

In case you need help managing vendor-related tasks, feel free to browse this link: Enter expenses, pay bills, write checks, and manage suppliers.

 

Please let me know if you still have questions or concerns with vendor payments. I'll be around to help. Take care and have a great day ahead. 

TammieV
Level 1

Accidental use of corp. credit card

Hi ShiellaGrace,

 

Thank you for trying to help me. I genuinely appreciate it however, when I went to attempt these instructions I found that there were details in the creating of  vendor that I do not know the answers to. For instance, which accounts get credited or debited. When it came to the journal entry, I had the same questions. I do not know/understand enough specifics about the steps you lay out. Your attempt to help me assumes I know what I am doing and I do not. Now I am more confused :(

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