acts payable

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nmcumc
Posts: 1
Joined: Thu Dec 27, 2018 11:08 am

acts payable

Post by nmcumc »

Ho do you enter a credit on a statement

NeilZ
Posts: 10216
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
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Re: acts payable

Post by NeilZ »

nmcumc wrote:
Thu Aug 06, 2020 9:44 pm
Ho do you enter a credit on a statement
What type of statement? If you're not using liability accounts for your credit cards, its not that easy to do since you don't have an asset account to Debit.

If you were using liability accounts for credit cards you could debit the liability, and credit the original expense account that was used for the initial purchase.

More information is needed.
Neil Zampella

Using PC+ since 1999.

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