Hello,
I have a credit card account set up on the system with a credit card journal. I also have a bank account set up and a bank journal.
When transactions are made on the credit card we keep the receipts and enter these onto the system as "purchase receipts", and then post the journal entries. This creates the transactions in the creditors control account and also the relevant tax account etc. In the "reference" for the purchase receipt I always type "xxx - Credit Card", where xxx is a reference to the transaction, and the "Credit Card" allows for easy searching.
When a statement arrives from the credit card company I am able to generate a statement on the system and pull in all of the payment lines using the "insert invoices" feature and using an advanced search on the period and the reference.
However, I also need to insert the payment from my bank account to the credit card account. Since I have set these up as accounts and journals I do not have my credit card company set up as a supplier. To make the payment I therefore create a manual journal entry (debiting my credit card account and crediting my bank account). There appears to be no way to pull in that journal entry to the credit card statement (or indeed the bank statement) to ensure that it is linked. Without doing this the payment is not linked to that credit card statement line (this then means the light to the right of the statement line is red).
Is there any way to link the statement line to the manual journal entry? If not, what is the correct way to do this?
Thank you for any help! Lawrence
I've also tried entering the payment on each statement (so that I have a record of it on each statement), but by entering a bank statement line a journal entry is created. This means if I manually enter the payment from the bank account to the credit card account on each statement then I end up with two transactions in the journal (so I move twice as much money as I want to).
Hello, Is the Credit card module you talk about also available for version 9 or version 10 ?