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Post Info TOPIC: Credit card opening balances
Samilou67


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Credit card opening balances
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This completely confusing me and would appreciate some help.

The companies financial year is April to March.

The credit card statements run 20th to 20th of each month.

I have an opening credit balance of £360 from the accountant which I have entered in Sage.

What do I do with the paid transactions of £250 from the 20th March to 20th April that have already been accounted for? Do I do a journal for the difference and where do I code it to?

Thanks

Sam



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Sam
matt123


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You basically want the credit card liability as at 31st March to match. I would post any payments/spending to the card previous to this.

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Matthew
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