Using a corporate checking account & credit card with QW2K Home/Business
Had been using QW6 for personal, and some small-time business stuff as
well. Have a business checking account, and likewise in QW6. Have also
a business credit card. Get billed on the credit card and enter thsese
tranxs in to the cc account with appropriate categories. Pay the cc
with the business account, and everything squares off.
Bought QW2K to be y2k compliant for checkfree, and decided on the "home
and business" version becasue I would like to be able to run a true
accounts receivable report (had a workaround that was ok in qw6), and
also liked the idea of printing a more professional statement to send to
clients.
But confused re: the bookeeping aspects here. Of course, the help files
don't cover this. The multimedia tutorials won't run ("missing media
player", although it's installed on my system). The "manual" is a joke,
and the "support" at their website is worse.
It seems like the only answer is to enter everything twice: debits into
the cc acount and into the "business bills" account, and the credits
into the business checking account and into the "business receivables"
account. For what I'm getting in return I doubt this is worth the extra
effort. Is there an easier way? How does the braintrust over at Intuit
recomend we do this?
So... uh... anyone use QW2K home and business with a credit card to
charge business items on?
Enter the individual credit card transactions against the credit card (as
you have been doing), using splits, categories, etc.
Pay the credit card with a business check (as you have been doing).
Ignore the Business Bills account type.
Create Invoices for the customers. (H&B function)
Receive payment against those invoices into your business checking account
(H&B function).
Print Statements as necessary (H&B function).