for our small business, I put our credit card as a vendor. For example total is $4,000.00 paid $2,000.00/partial. so remaining is $2,000.00. which carried into the following months statement. and again not paying in full. ( for 3 statements). how does this work? I cant seem to correct this correctly. it seems like it contiues to show outstanding. Please help! thank you
In the future, Is it better to enter in credit card charges?
The remaining balance will be carried into the following months' statement because it's still unpaid. To pay the outstanding balance, you'll have to create another transaction by paying the bill just make sure to select the appropriate date when you paid the remaining balance. Here's how:
From the Vendors menu, select Pay Bills.
Put a checkmark on the box for the bill that shows the unpaid balance.
Make sure that in the Date field, select the appropriate date when the bill is paid.
Then, click Pay Selected Bills.
Once you've successfully paid the outstanding balance, this will not carry over to the next statement date.