Qb 2008

[Kurly]

A bookeeping question for all the QB users. I am new with QB. When I post to the Credit Register it appears as a negative under Credit Card as an expense item on the P&L. It also appears as an expense to the item such as supplies on the P&L. What have I done wrong?

Thanks

Kurly

[S T]

QB 2008 Credit Card

Kurly,

I set up a separate Credit Card Payable account for each credit card source.

Not sure what you are seeing , I am looking at my own Credit Card register in QB2008.

In the register,

Example for Intuit, I show a charge for $100 in the charge column, which posts to my expense (say office supplies) on the Profit and Loss Statement. If I pull up a balance sheet, it shows that I owe that credit card $100 positive number . (Charges to credit card on the Credit Card Payable account will show as a Credit and payments to the Credit Card Account will show as a Debit) you can pull up a transaction report from the Balance Sheet.

If your balance sheet is showing a negative, that would mean that you have payments posted to the account, or overpaid the account, or the charges are entered incorrectly.

Rather than trying to enter charges and payments in the register, go to Banking, enter Credit Card Charges (actual charge slip) then you can toggle back/forth on charge or credit. When you make a payment either do it through reconciliation, or from your check register (not in the credit card register).


Sandy