To anyone following this thread, good for you if you made it this far and let me try to clarify/simplify here.
There was a great question posted by a QB user on his two companies commingling costs on AMEX CC.
Got better when 2nd QB user added his almost same situation / question to this discussion and then we had a few experienced accountants and / or QB experts provide and discuss guidance on how to do.
The two QB Users impressed me since they were able to clearly and concisely summarize the information they provided and even reiterated good summary of each others' situation as they were both following all.
I was also impressed they both were able to recognize similar scenario and were able to add theirs here to make great discussion with a few differences that could have both been addressed at the same time, but
Unfortunately, on the answering side, egos apparently got in the way turning this into **bleep** fight adding to client confusion and at the same time, client information provided was not quite complete so come to find out there are many key differences between entities which make the correct answers different in the end, and not all of these facts are in this thread since they were discussed in private emails without all parties.
However, that is the nature of the beast to understand, which is that each company has their own unique
set of circumstances which dictate what is correct procedure for them and so to try to make decisions for your company based on generic information shared online is very risky without the follow-up to confirm
by either reading and understanding IRS and/or QB details or having a trusted expert to confirm YOURS.
So here we are now with a thread that is too confusing even for original parties to make useful now as it is
commingled with BS arguments on the QB quirks to work around vs. actual key content to be understood
FIRST! Ideally this discussion could also be useful to other users but I think that has been destroyed now, but I can summarize where this is at for both original companies based on our private email discussions.
I see this nice lady Karen is trying to follow along and has brought up another great point I just replied on, but let me explain why these two cases have diverged so much now leading to differen correct answers but for each of the first two QB users who asked and have patiently been following this to try to get to the right answer despite the BS flowing in between, which has made this much harder for them to see what matters.
