Using an Agency Credit Card for Payments - TRAMS, Inc.

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In order for the Debits and Credits to equal, enter a credit that is equal to the debits. In the previous month, Office Supplieswas debited when the charge was made. The credit this month would be to Office Supplies. We do not credit the full$325.00, just enough to balance the Debits and the Credits. $30.00 is carried over to the next month, so we only need tocreate a credit that is equal to the current charges.This allows the journal entry to be saved, current charges to be accounted for, and the $30.00 credit will carry over to thenext month.In the next month, if the following Visa Statement is received.Visa StatementACME Parking 250.00Light Company 45.00Total Charges: $295.00Previous Balance -30.00Total Due $265.00Page 22 of 25 7/31/2009
To pay the $265.00, but account for $295.00 in charges, enter a Payment Made for $265.00. When prompted for the journalentry, debit the new charges and enter a credit for $30.00 to Office Supplies.Page 23 of 25 7/31/2009
Page 1 and 2: Using an Agency Credit Card for Pay
Page 3 and 4: Section 1 - Using the Agency Credit
Page 5 and 6: Scenario Two: A Client pays the age
Page 7 and 8: Airlines Reporting CorporationAgent
Page 9 and 10: Scenario Three:Client pays the agen
Page 11 and 12: Time Saving Tip: Use Pay Codes to h
Page 13 and 14: Option Two: A Negative Client Vouch
Page 15 and 16: Pros and Cons: Scenario ThreeOption
Page 17 and 18: Scenario Two: Accounting for expens
Page 19 and 20: Section 3 - Using the Agency Credit
Page 21: Section 4 - Paying the Agency Credi
Page 25: NOTES______________________________

Using an Agency Credit Card for Payments - TRAMS, Inc.

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