"Response to qbteachment:
1. Your last post seems to make sense to me. However, can you confirm that it is specifically referring to my situation or richardgreen's?"
This has gotten Over Complicated. My response applies to the Situation that you Paid something that is not Yours = Other Asset. That's all you need to keep in your mind, for the data.
"2. Since my situation is not about a "computer" expense, does this change your explanation? If so, please explain."
One entity has "Other Asset" for something they Paid for. The other has "whatever it would have been, if I had paid for it" but "I didn't pay for it = my Liability to pay the people that paid For Me."
Honestly. It is Two Entries for each entity.
Company A = Paid out an Other Asset.
Company B = incurred a cost paid by another = enter your details but the amount is owed as Liability.
Company B = pays back Debt (liability). Or Company B paid the AMEX amount directly, which means they can Write a Check to AMEX and post the actual expense there; keep in mind they Never Bought anything from AMEX, though. That is not the Actual Supplier that sourced the good or service or materials that were paid for by Company B.
Company A = makes a deposit to offset the Other Asset = They got repaid. Or, Company A enters a Credit Card Credit, because the repayment was made directly to AMEX by Company B.
(this post has been edited to add more details)
It is Not as hard as this has turned into.
