Recording CC Paymen...
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[Solved] Recording CC Payment

Joined: 1 year ago
Posts: 8
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Client has two businesses; they used the business checking for Company A to pay the business credit card attached to Company B. There are two different QB company files (not sure if this needed to be known). How would I properly record this? This is the first time I have come across this transaction. 

Thank you for your help.

This topic was modified 3 weeks ago by Seidah

Joined: 1 year ago
Posts: 161

Set up "Due To/Due From accounts in both QB files.  Enter the transactions for the opposite company in each file.  the amounts in each file, should always be the same, though one will be a CR Balance, and the other will be a DR balance.

Joined: 1 year ago
Posts: 4

@casey-4 Thank you Casey. To be sure I understand, on Company A's side I would create the "Due From" account and on the Company B's side I would create the "Due To" account? 

Joined: 1 year ago
Posts: 161

well poop...I just answered this, but it didn't show up.  

Company B is essentially borrowing the funds from Company A.  So, Company A has a Due From and Company B has a Due To.  But, you can also use a single account called "Due To/Due From" and use it for transactions going either way.  The two amounts must always match though.


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