Credit Card overpayment

I overpaid a credit card account and received a check for the overpayment amount. How do I account for this amount and zero out the credit card balance? The balance on the card showed as -$50.00 and I
tried to do a "Credit/Refund" but this makes the balance -$100.00.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
James Stewart wrote:

Use the Make deposit screen to record the bank deposit. The "From Account" will be the credit card account. This will be the same as making a $50 purchase on the account to offset the balance.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

Company -> Create journal entry: Debit checking account $50, credit accounts payable/expense account $50
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
anon wrote:

Yes a journal entry will also work but why use a journal entry when using a form (deposit) works too?
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

Yes, the "proper" way would be to receive the payment into undeposited funds (to capture the actual payment date), then a deposit as you suggest, using the cleared date.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

BeanSmart.com is a site by and for consumers of financial services and advice. We are not affiliated with any of the banks, financial services or software manufacturers discussed here. All logos and trade names are the property of their respective owners.

Tax and financial advice you come across on this site is freely given by your peers and professionals on their own time and out of the kindness of their hearts. We can guarantee neither accuracy of such advice nor its applicability for your situation. Simply put, you are fully responsible for the results of using information from this site in real life situations.