Hello Pfinch, Good question. I had the same problem. Actually, I still have it but I do know what to do to solve the whole thing. This is so common of an occurrence with new users. We all go through it once.
But, let's get back to the problem at hand. Firstly I would run a report of all aging for the time period you are interested. This should show you the outstanding receipts in need of payment. Fortunately for you and I we know what we need to do. If you click on 'Company' and then clicking on, 'Make General Journal Entries'.
Now you will begin entering a double entry transaction for two things, one, is the crediting of the sales receipt. The second thing is to enter the debit and apply it to the 'Vendor'. One third and last step is to delete the original sales entry of this original transaction.
Do this for every other one of those transactions on that aging report and then run the report again to check for any that you might have missed.
This is the steps I learned on my own through hours of digging around with QuickBooks 2014 Pro.
Since this is my first post having registered and logged on to this forum just moments again, I too came in search of an answer. Here's the scenario. I have been made the accountant for a local business and not being a CPA or an accountant in the past, I have had to learn by the seat of my pants. Granted, I have decades of experience in running other money and accounting programs, but, I have no accounting degree.
My question to you and the community who might have read this is, how do you enter a credit card payment to the company account with the deposit coming from the owner's personal checking account?
What category or accounting code would this be using a chart of accounts? Also, is this to be an equity account?
Paul Streicher
