Hello,
I am using Quckbooks Pro 5 and have a question about check splits. I charge all my montly expenses to my credit card and pay one bill at the end of the month. Question: Say all my charges are done in Feburary, but my credit card bill is paid March 6th. A split postings for Feburary expenses show in March due to the credit card being paid in March. Is there a way to make the splits show in Feburary and not when the credit card bill is paid?
Thanks JR
Are you using a CC account (liability) for these charges? Enter all of the charges with their respectives dates as indivdual transactions to preserve the original dates. Then when you pay the bill you reduce your liablity on that account. It does not matter this way when you actually make a payment on that CC.
Or use the Enter Credit Card Transactions screen for a bulk monthly entry by dating the transaction for the last day of the month ie 2/28/05 would be the date of the transaction with all the expenses categorized below. Then use the write checks screen to pay the credit card pointing the expense of the check to the credit card liability (this assumes you've setup your credit card as such in QB). This is the lazy man's way to do it but unless your accountant specified that you must post individual transactions w/their respective dates then this type of bulk posting will work and keep the transactions in the actual month they occurred.
And this entry can be done right off of the CC statement if you are not given the receipts as the expenses are being incurred. I usually do a summary entry by G/L account or vendor instead of each transaction as separate lines. All depends on the level of detail your boss wants/needs.
Why not request a cut off date of EOM from your credit card company. Better yet determine if you really need to worry about recording the expense in the correct month. The fact that it is now 2005 and you are still using a software version that came out in December of 1997 tells us that accounting really is not one of your companies top priorities. If the glove don't fit you must acquit.
And exactly how would the newest version of QB solve the OP problem? If the answer is that it would not, perhaps you should reconsider your insulting response to this individual.
-- Vic Roberts Replace xxx with vdr in e-mail address.
Allan is the group troll. He know he can't make money off this person so he belittles them instead.
I would ask anyone who is a client of Allen's if they think this is something they would want their accountant to do? Is this a person you would want to trust with your finances?
What ever gave you the idea that my remarks had the hidden agenda that the OP should upgrade? My post should be taken litterally. I meant exactly what I said.
So you believe my motivation is because I can't make any money from the OP, Wrong I get my motivation from ingesting two tano leaves. (Now who amount us gets the inference, Hint 1 leave to give me life).
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