USA Apply credit to CC from missed entry 2015

[Sarah D.]

I am new to this forum and to the company I am now supporting. We are using QB online.

• Pymt applied to a CC acct Nov 2015 (on cc statement) not sure about QB
• QB reconciliation history only Jan 2016 - Sep 2017
• Pymt deleted by the previous accountant Dec 2017
• This is now causing a deficit in the beginning balance.

The payment was from owner's personal acct which is not in QB (cannot transfer funds).

What is the best way to apply this credit the account to get reconciliation up to date?

 

[Stephanie Swanson]

If I'm understanding correctly, you want to reflect the 2015 payment by the owner in the credit card account in order to correct the beginning balance. If that's the case, one solution is to do a Journal Entry with a debit to the credit card account and a credit to the owners loan account (liability) - and most importantly mark the transaction as reconciled (in the account register by clicking on the transaction then clicking on the box to the right until it shows R for reconciled. That way it reflects the payment on the credit card/reduces the amount on the card in QuickBooks and shows that the owner put money into the company that should eventually be paid back to them. Hope this helps!