How to Use Agency Credit Card in Trams Back Office

Section 4: Paying the Credit Card Bill when there is a Credit BalanceSection 2 outlines how to pay the agency credit card, when itemizing each of the expenses. In this section we take a look atwhat happens when you have a credit card statement that has a combination of new charges and a credit for a previouscharge.Quick Steps:1. Go to General Ledger|Journal Entry.2. Enter a debit for the amount of each charge to the correct expense account.3. Enter a credit equal to the debits into the account that the credit applies to.Visual Steps:In month one, the agency receives the following Visa Statement.American Express StatementOffice Supply Store $325.00ABC Printing 75.00ACME Parking 250.00Light Company 45.00Total Charges: $695.00The journal entry below would be created when the statement is paid:Account Debit CreditChecking 695.00Office supplies 325.00Printing expense 75.00Parking 250.00Utilities 45.00In the next month if the agency received the following statement, since there is no check to be issued, create a journalentry, entering a debit for each new charge.American Express StatementOffice Supply Store -$325.00ACME Parking 250.00Light Company 45.00Total Charges: $-30.00Page 23 of 25 11/12/2012