Credit Card charge does not appear on my statement

larry2 · ‎January 09, 2020

When I use a corporate credit card to pay invoices or expenses, I always enter the charges individually rather than downloading them, because of past problems with erroneous or unauthorized transactions. About 10 times over 10 years, one of those charges never appeared on my statements, presumably lost by the system or the issuer.

I'm in the process of dissolving this C Corp and these charges appear on the balance sheet as a current liability. What is the proper way to remove these charges and the credit cards involved have been paid in full and then cancelled many years ago?

Thanks!

MaryLandT · ‎January 09, 2020

Hi there, larry2,

I appreciate you sharing what happened to those credit card charges on your statement.

You can make a journal entry to correct the current liability on the balance sheet. Upon sharing this, I still recommend consulting an account for instructions on what account to debit or credit.

Here's how to create a journal entry:

Go to the Company menu, then select Make General Journal Entries.
Fill out the fields to create your journal entry. Make sure your debits equal your credits when you’re done.
Click Save & Close.

You can also visit this link, Find-a-ProAdvisor website to look for an accountant if you need one. Enter your ZIP code, town, city, or area in the search field and select Search.

Feel free to click the Reply button if there's anything else you need. I'm always around to help you out.

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Credit Card charge does not appear on my statement

Credit Card charge does not appear on my statement

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