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Old 11-03-2011, 11:49 AM
brtngrl brtngrl is offline
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Join Date: Nov 2011
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Paying Bills with a Credit Card

Alright, so I've seen this asked before and if we did things normally here, it would be easy, however....

I have a vendor that got into a sticky situation with awhile back and now requires us to pay all invoices in full PLUS 50% of the order amount that is applied to an old balance. I would like to post these additional payment (typically made on an American Express) to their account to get an accurate account of how much we owe. However, it can't be as simple as posting through "Pay Bills" as a credit card because we don't reconcile our monthly credit card statement but rather enter it as a bill and lump charges into cost categories (I'm new to taking over a huge mess left by two controllers that were unfamiliar with Quickbooks and accounting). That said, is there any way to post the payments we've made on the open invoices for this vendor in a way that will not effect my checking balance or post to a credit card liability account? Thank you for any help!
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Old 11-04-2011, 01:27 AM
Joe Williams Joe Williams is offline
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Join Date: Jan 2006
Location: Oklahoma
Posts: 9,384
It would be best to create a Credit Card account, one for "American Express" and one for the "Vendor" with the open balance. Use enter Credit Card Charge for the current balance for the "Vendor" and "American Express". Be sure to have the Credit Card Charge split to the correct expense accounts.
When you pay the vendor,use a check and the "Vendor" CC account.
When you pay "American Express", use a check and the "American Express" account.
This will allow you to see what is owed to either one, even if you enter the CC charge in a lump sum.
If you purchase from the vendor using the AMX CC, the charge is now for AMX not the vendor.
Joe Williams
Piedmont, Ok
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