Accounts Payable Posting

Fund Accounting, Accounts Payable, Accounts Receivable, Payroll

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PolkvilleChurch
Posts: 1
Joined: Sat Jan 15, 2022 6:00 pm

Accounts Payable Posting

Post by PolkvilleChurch »

I am trying to post reciepts to budgets for Year end. Is there a way to Post receipts to budget lines without doing a check just yet. My visa bill that is
due this month only has thru the middle of November, but i want to post reciepts thru the end of December.

NeilZ
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Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
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Re: Accounts Payable Posting

Post by NeilZ »

PolkvilleChurch wrote:
Mon Jan 17, 2022 1:47 pm
I am trying to post reciepts to budgets for Year end. Is there a way to Post receipts to budget lines without doing a check just yet. My visa bill that is
due this month only has thru the middle of November, but i want to post reciepts thru the end of December.
You should be using a liability account for all credit cards. You then post the expense at the time the expense is made to your credit card, and hold the receipt in a file for later when the bill comes in. You then do a reconciliation using the statement and all the receipts from the purchases made on the card in much the same way as you do a bank statement reconciliation.

There is a Knowledgebase article on this which you can read here:

https://www.powerchurch.com/support/441 ... pring-2015

use the second method listed. FWIW ... I use the second method even though we pay the bill each month. The reason is that sometimes you need to bridge the end-of-year purchases if the expenses were in December but the bill shows up in January. You don't want the expenses reflected in the new year's expenses and against the new year's budget.
Neil Zampella

Using PC+ since 1999.

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