Replying rather late to this, after having read the thread... (Haven't been to this mailbox since July)
On Thu, 30 Oct 2008, Munroe sollog wrote: > Our company has a credit card, as I am sure most companies do. I can't > seem to wrap my head around getting ledger to account for the credit card > properly. Here is how we do such things. If the credit card company is set as an account (E.G. 2150 - American Express), and that account is set to show up in dropdowns for payables etc., you would use it just as you would use a checking account on an invoice. For example: vendor "Stuff, Ltd." bills you for $500. You create a vendor invoice for $500. In the payments section, you enter $500, and select the AmEx account from the list of accounts you can pay from. "The Big ISP Corporation" bills you for $104.27 for your SDSL connection. You probably use an AP Transaction for that one, but same thing--choose "The Big ISP Corporation" as the vendor, and pay them $104.27 out of the AmEx account. At the end of the month, the AmEx account has a liability value of $604.27. You decide to pay $300 of that, so you can, as someone suggested, do a transfer between your checking and AmEx accounts to achieve this. Just note "Web Payment", "American Express", and other such things, in the notes of the transaction. Now, next month, in addition to your remaining $304.27, and what ever transactions were from that month, you maybe have a $9.96 finance charge from AmEx. If you have an AmEx vendor, you can have that vendor bill your card account via a normal AP transaction, billing you for that $9.96. This whole system, if I am describing it correctly, will also let you reconcile your credit card statements. Regards, Luke ------------------------------------------------------------------------------ SF.Net email is Sponsored by MIX09, March 18-20, 2009 in Las Vegas, Nevada. The future of the web can't happen without you. Join us at MIX09 to help pave the way to the Next Web now. Learn more and register at http://ad.doubleclick.net/clk;208669438;13503038;i?http://2009.visitmix.com/ _______________________________________________ Ledger-smb-users mailing list [email protected] https://lists.sourceforge.net/lists/listinfo/ledger-smb-users
