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Old 01-05-2018, 11:17 AM
ssm0006 ssm0006 is offline
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Join Date: Oct 2015
Posts: 14
Quote:
Originally Posted by Rustler View Post
I am by no means suggesting this is a best practice type of thing,but

I create generic vendors, food, lodging, fuel, etc and use those, the memo block might say BW Tulsa, or Marriott Dallas

For sub credit cards, that is how I set it all up, ie (all are credit card type accounts)

Cap one, venture
>> Sally S. 4432
>> Bob T. 4437
etc

the 4 digits are the last four of the card number assigned to them

I use enter CC charges for each person charges, nothing posts to the parent account, it is a summing account

the monthly recon is done on the parent account.

I never use a/p to pay a credit card bill, I just schedule the online bill payment and enter it using write checks as an EFT with a future date.

A CC is a liability, I see non reason to create a liability (a/p) to pay a liability.
I guess I'm really old school. I prefer my Subledger, the A/P Aging Report, to show everything I have coming due that is going to need CASH. What makes a CC BILL different then an Electrical bill or Home Depot BILL? It's still a BILL and it has a Due Date. I like to have all my payables show up on a single manageable report so that we do not forget to pay that BILL or fail to transfer enough cash to cover it. That's one of the main purposes of the AP Aging report...to manage payment of BILLS. That means I'll have that CC Bill entered and it will DR the CC Liability account. Now when I import the transactions from my CC company it will MATCH to that payment. Indeed, with my preferred system, even with a car loan you could enter all of the coupon payments notices at one time as long as you change the entry and due date each time and it will not mess up your AP aging since that's a date specific report. We do that already. It saves a lot of oh-ohs. http://www.sophisticatededge.com/acc...ble-aging.html

Last edited by ssm0006; 01-05-2018 at 11:20 AM.
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