credit card statements

[CLC Golden Valley]

Upon paying for credit card bills, I pay by manual check and then enter the info. into the computer. How do I handle credits for returns that appear on monthly statements. For ex. The CC bill is $500, the expenses on that bill are $500. However, there is a credit for $50 from returns. I enter the $500 as a CR to my checking account, then I enter each expense as a DB - which equals $500. But it is off because there is a $50 credit from the CC Co. on the statement. I have tried putting the $50 as a CR to the checking account at the same time I am entering all of the DB's. When I go to close, it says it does not balance. Is there a different way I should be entering this?

[Zorak]

If processing the credit card statement through Accounts Payable, you can either add the two extra detail lines to the transaction to lower the payment amount, or add a second invoice for the credit card vendor with a negative amount.

The transaction detail would be: Checking (debit) $50 and Expense (credit) $50.

If entering that in the same invoice as the rest of your monthly statement, it would warn you that the debit and credit totals don't match the check amount, but that is expected and you can click Yes to continue. If entering a separate invoice for this negative $50, when you print checks, PowerChurch will pay both invoices together on one check and will lower the check amount by $50.

[madonna]

I still need help. Paid $209.37 last month for Donor Restr Acct (DNR) #1.
Items returned, so $209.37 needs to go back to DNR #1.

But this month, $500.00 charge for DNR #2.
So credit card bal is $290.63.

DNR #2 needs to pay the $290.63 balance,
DNR #2 also needs to tsf $209.37 to DNR #1 so refund correct.

How do I post?

[madonna]

I figured it out.