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sarahlizzy4
Level 1

NSF on Business Credit Card Payment

I took over the books for a company and they tried to pay $5k towards a vendor bill, but they did not have enough funds on the Credit Card to cover the whole cost. The money was subsequently returned to the card. Since this is not a true refund,  what is the best way to account for this? 

1 Comment 1
Rustler
Level 15

NSF on Business Credit Card Payment

Originally you entered a charge on the credit card

it was returned

enter a credit on the card for the same amount, using the same account you used originally

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