Posting a Credit Across Funds

[RLM]

I have a credit to post as part of my bank credit card payment. This problem is that the original charge was made in Fund (02) and the rest of the the credit card payment hit accounts in Fund (01). Attached is a transaction that posts the credit back to Fund (02) and even though it crosses funds, does not prevent the transaction debit/credits from balancing in the transaction. I need to reduce the expense in Fund (02) by $89.95.

Is this the way to do this, or is there a better way of showing it?

[RLM]

To clarify the initial payment: Two checks were issued that combined to satisfy the the total credit card payment.

[Matt]

You need to add a line to debit 02-1110-000 for $89.95. Then, you need to change the credit to 01-1110-000 from $570.55 to $660.50.

[RLM]

Thank you Matt -

The Fund (02) checking account# is 02-1120-000 and the Fund (01) checking account is 01-1110-000. Will the transaction that you mentioned work here, or do I need to create a transfer transaction to accomplish that task? I transferred the funds through electronic banking this morning.

[Matt]

Which checking account was used to make the net $570.55 payment--the 1110 account or the 1120 account? If it was the 1110 account then you'll need to post the entry as I indicated in my earlier post.