USA Credit Card on the BS Madness

[Melly4]

Good morning,

I have a credit card with about 10 sub-user accounts under this one credit card, My question is can I make a journal entry to offset the overpayment on the balance sheet for the credit card liability accounts. I have been downloading each monthly users transactions into their individual accounts and then taking the payment and splitting it between those accounts but now what is happening is the parent account is showing a negative which I believe represents an overpayment can I just make a journal entry to this negative balance?

 

[Fidget]

If you're taking one account and just reallocating to other accounts, then the original account should have a zero balance, assuming you've reallocated all of it. If it has a negative balance, then there's either an error somewhere in the journaling or perhaps a timing difference between transactions and bill paid. Either way, there shouldn't be an overpayment on a credit card account.

What you can't do is just journal it off to somewhere as if it's not happening.