qbteachmt wrote:
I think you just confused Two Different Debt accounts.
What two debt accounts are you referring to? I know CC account is a Liability account, and that is the one I am asking about since your entries for Company A referred only to two Asset accounts, so then assume you are only providing the one side of the entry there. That's fine if they understand.
The Credit Card for Company A = The source of the funds or "how" it was purchased. Whether paid by checking or by putting it on the credit card, the payment is Other Asset for Company A.
Company A put it on their card. A Credit Card Type of account in QB is one of the many "liability type" activities. In this example, CC is the Source and Other Asset is the "Target" or the "What we just paid for by charging it."
Yes, of course. I know what the entries should be, I just showed both sides of each entry to them.
Company B has a condition no different than Buying something and taking out a Loan to do so.
Sure, agree, just a matter of who they owe/pay.
I think we said the same thing but I showed both sides of entries and you only referred to on side of each of them so then it looks like a different answer to anyone not familiar. Seems way easier to just say debit and credit than provide one side of each entry and then assume the other side is correct.
