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wreid

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Since: Aug 30, 2004
Posts: 3



(Msg. 1) Posted: Mon Nov 22, 2004 10:35 pm
Post subject: Credit Card Payment
Archived from groups: alt>comp>software>financial>quickbooks (more info?)
I use a checking account to pay my Business Credit Card. What is the correct
way to enter this transaction?

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crappolagozher

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Since: Feb 05, 2004
Posts: 217



(Msg. 2) Posted: Mon Nov 22, 2004 10:40 pm
Post subject: Re: Credit Card Payment [Login to view extended thread Info.]
Archived from groups: per prev. post (more info?)
"winston" <wreid DeleteThis @netrox.net> wrote in message
news:XbSdnbUIksdQPz_cRVn-3w@netrox.net...
 >I use a checking account to pay my Business Credit Card. What is the
 >correct
 > way to enter this transaction?

Assuming the checking account you use to pay the cc card is an account in
Quickbooks:

Setup an account type credit card for the cc
Setup a vendor account for the credit card company you pay

Record the check payment to the vendor and for the cc account. Ideally you
should be posting your cc statement via the Banking>Enter Credit Card
Charges window. This racks up the expenses on your cc so that when you
write a check to the cc company it'll post against the charges you've
accrued.

--
Tara<!-- ~MESSAGE_AFTER~ -->

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wreid

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Since: Aug 30, 2004
Posts: 3



(Msg. 3) Posted: Sun Nov 28, 2004 8:17 pm
Post subject: Re: Credit Card Payment [Login to view extended thread Info.]
Archived from groups: per prev. post (more info?)
Thanks Tara!!!
"Tee" <crappolagozhere.TakeThisOut@netscape.net> wrote in message
news:30fnehF30qclfU1@uni-berlin.de...
 > "winston" <wreid.TakeThisOut@netrox.net> wrote in message
 > news:XbSdnbUIksdQPz_cRVn-3w@netrox.net...
  > >I use a checking account to pay my Business Credit Card. What is the
  > >correct
  > > way to enter this transaction?
 >
 > Assuming the checking account you use to pay the cc card is an account in
 > Quickbooks:
 >
 > Setup an account type credit card for the cc
 > Setup a vendor account for the credit card company you pay
 >
 > Record the check payment to the vendor and for the cc account. Ideally
you
 > should be posting your cc statement via the Banking>Enter Credit Card
 > Charges window. This racks up the expenses on your cc so that when you
 > write a check to the cc company it'll post against the charges you've
 > accrued.
 >
 > --
 > Tara
 >
 ><!-- ~MESSAGE_AFTER~ -->
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crappolagozher

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Since: Feb 05, 2004
Posts: 217



(Msg. 4) Posted: Sun Nov 28, 2004 8:40 pm
Post subject: Re: Credit Card Payment [Login to view extended thread Info.]
Archived from groups: per prev. post (more info?)
"winston" <wreid DeleteThis @netrox.net> wrote in message
news:caWdnW4wfu0L9jfcRVn-jg@netrox.net...
 > Thanks Tara!!!

You're welcome.

--
Tara<!-- ~MESSAGE_AFTER~ -->
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user1583

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Since: Dec 10, 2004
Posts: 4



(Msg. 5) Posted: Sat Dec 11, 2004 1:16 pm
Post subject: Re: Credit Card Payment [Login to view extended thread Info.]
Archived from groups: per prev. post (more info?)
  >>should be posting your cc statement via the Banking>Enter Credit Card
  >>Charges window. This racks up the expenses on your cc so that when you
  >>write a check to the cc company it'll post against the charges you've
  >>accrued.
  >>
  >>--
  >>Tara
  >>
Also (I'm using QB Pro '04), when you get your CC statement, you can
choose to reconcile it, just as you would a bank account. When you have
finished reconciling (which for me mostly involves digging the receipts
out of my wallet and entering the cc charges), QB will prompt you to
write a check to pay that credit card. It will set up the write check
window with the info just as Tara described.<!-- ~MESSAGE_AFTER~ -->
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