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I have a duplicate credit card charge that was entered for some supplies we purchased. Normally I can just void the dupe but this one is in a "Closed" fiscal year (last year). How can I handle this charge?
07-18-2006, 07:31 AM
Enter a CC Credit dated this year, using the same ietms/expense as the duplicate CC charge.
Has the tax return already been done for this company? If not, then Void the CC charge. If so, then you should not change the prior year's numbers unless you amend the tax return. Normally the year end balance on the credit card account is verified also before the tax return is completed. At year end, always be sure that all the Balance Sheet accounts have been verified and reconciled before the books are closed to prepare the tax returns.
Thanks for the replies. The CC Credit is the one I'll have to use as we have already done the taxes.
It was just a thought. I've talked to a bunch lately that are still getting stuff together for 2005 on extension. It would have been easier in that case to just Delete the duplicate.
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