QB Teachment: You wrote the following recommendation which I cannot even follow so not sure how you expect a non-accountant to follow. Perhaps you can clarify for them since you choose to argue everything I post here...
qbteachmt wrote: In QB, you have Tools = an Interface. If this is Desktop, that is Banking menu > Enter Credit Card Charge. For QBO, it is an expense from the Credit card. For Reductions, that is Credit Card Credit, or Return. Or, from Checking, the Credit Card account is the "expense" entry.
If you insist that Company A pays Company's B's debt directly as Loaned to them, that still is Credit Card Credit for B, putting Liabilty as the "expense" reason. And Company A's check "expense" is Other Asset.
I don't believe this person is "insisting" on doing anything. The transaction has already occurred so he just needs to know best way to book the one-time transactions into QB. I think he understands that this is not good practice and will be on him and owner to correct practice going forward, right?
