Credit Card Credit

[Sheilah]

I have tried to find info on this and cannot seem to understand what I'm finding (sorry). Current problem;

Have received a credit on a credit card for two items that were paid one and two months ago (total credit of $122.90). Both were paid from the General Fund. Amount charged this month was $240.91 of which only $64.44 is from the General Fund, the rest is spread over 3 different funds. I need to pay $118.01 to the credit card account. How to I enter this and still Debit the correct amount in all the expense accounts. I am entering this through Manual Check because I pay the bill online.

Thanks.
Sheilah
V9 on Windows XP

[wellspring]

The expense accounts can be set up to use the 3 different funds. You would do this from the Fund Accounting module in Maintain Chart of Accounts. Enter the expense account number you want to change and then select the "Add Acct to Fund" button. You should then select the fund you want to add ie: General Fund, Building Fund, Missions Fund, etc.

[Sheilah]

I know how to do what you're saying, however, I don't see how this fixes my problem. Could you clarify how I would use this to balance everything out.

Thanks.

[Zorak]

To handle credits, you can add a new invoice for the same vendor, with a negative amount. In the account details, be sure to set the accounts that you want to be affected (expenses in three funds, it sounds like).

The next time you generate a check to pay the current bill on the credit card, the negative invoice (the credit) will also be paid, lowering the check amount.