Reconcile Company Credit Card
Hi Everyone. Having allot of issues like this of late. Our director paid the work credit card by mistake from his personal account $2000. This is fine. I have created a receive money, Deposit...
Forum Discussion
Hi additions
You are fine on the receive money to the credit card, but is a loan from the Director and should be allocated to either a liability or asset account that you would have called that.
Whenever the Director does any personal spending from either the cheque account or credit card these would also be allocated there.
If you dont have one now, i would set it up and do it as a credit card account type.
That way whenever they buy anything in cash or accidentally use their personal card to pay for something you would do a spend money on that account, as this is money that is owed back to them.
