@qbteachmt wrote:
To summarize this for Teri: Company A has No Liability other than Credit Card, because their card got used. Um, yes, I know that. Not sure where or why you saw two Liability/Debt accounts, I saw none on your entries, which is why I asked since you made the point about using CC account but did not.
I really want to keep the post Simple, because these are getting harder and harder to follow. Things are very convoluted, but the topic's answers never had to be this convoluted.
I agree this has been complicated way too much.
I think if you look, you will see that we are saying the same thing, but I am just showing both sides of each entry and stating which are debits vs. credits so they can confirm they are correct in GL report and as noted the entries I showed in blue stay as balances in accounts and the ones in black all zero each other out.
