Hello, my apologies I don't think I explained myself properly.
My initial inquiry was how to record a cash payment made to a credit card instead of the cash account.
I then created a journal entry to debit the amount from the credit card account and to credit the accounts receivable account so that i could receipt the payment against an invoice. I was then able to match the downloaded credit card transaction to the journal entry.
Secondary to the above inquiry, our credit card payment is now due and my manager now wants to pay the amount owing to the credit card, minus the amount that was deposited into the account by mistake.
Say, our payment due is $25,000.
We received the deposit for $5,000 (which has now been allocated to accounts receivable).
My manager is going to pay $20,000 from our cash account to the credit card account.
Is there a way that I can:
1. Record the customers payment against their invoice to show it as paid;
2. As well as apply the payment as a deduction/pay down to the credit card account?
Therefore, there would only be the $20k balance to be paid by us.
Thank you
