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Site maintenance, Tuesday 30 September - Thursday 2 October

We’re carrying out some maintenance work on the AAT discussion forums (forums.aat.org.uk) on Tuesday 30 September 2014, and this is now likely to run into Thursday 2 October. What this means for you:

- You will still be able to search the site and access all threads as normal.
- New users won’t be able to register for an account.
- You won’t be able to post new threads or reply to existing threads.
- This will have no effect on the AAT website (aat.org.uk).

You should be able to post to the forums as normal (and new users should be able to register) by the evening of Thursday 2 October.

Apologies for the inconvenience in the meantime, and thanks for your patience.

Stuart Waterman
AAT Online Community Manager
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  • Credit Card Journals

    Please can someone help/advise on the following

    Client pays business expenses/suppliers via credit card and own bank.

    The credit card is set up amongst the Sage bank accounts, including his personal one. I have transferred payments to date.

    But it occurred to me that there should be a journal for the interest, charges and capital repayment element of the credit card debt itself.

    My journal so far

    DR interest charges
    DR charges
    DR capital element ?? if so which account please and then where does the CR go????

    Hope you can help me finish my journal, thanks

  • #2
    Originally posted by ereid View Post
    Please can someone help/advise on the following

    Client pays business expenses/suppliers via credit card and own bank.

    The credit card is set up amongst the Sage bank accounts, including his personal one. I have transferred payments to date.

    But it occurred to me that there should be a journal for the interest, charges and capital repayment element of the credit card debt itself.

    My journal so far

    DR interest charges
    DR charges
    DR capital element ?? if so which account please and then where does the CR go????

    Hope you can help me finish my journal, thanks
    I would do a journal of

    For charges- not really a journal needed
    Dr interest/charges- expense account
    Cr credit card - sage bank ac

    For cap repayment
    Dr credit card- sage bank ac(to reduce bal)
    Cr bank ac - most probably current account

    Any other ideas anyone ???

    Comment


    • #3
      Originally posted by ereid View Post
      Please can someone help/advise on the following

      Client pays business expenses/suppliers via credit card and own bank.

      The credit card is set up amongst the Sage bank accounts, including his personal one. I have transferred payments to date.

      But it occurred to me that there should be a journal for the interest, charges and capital repayment element of the credit card debt itself.

      My journal so far

      DR interest charges
      DR charges
      DR capital element ?? if so which account please and then where does the CR go????

      Hope you can help me finish my journal, thanks
      I wouldn't do this as a journal.

      If his personal bank/ credit cards are set up as a bank account in Sage, I would just do a Bank>Payment to Interest etc.
      Professional Tea Consumption Technician
      ___


      Hi Monsoon

      methinks you should write a book
      ^^ I am

      How do I know what to charge? [/b] (+other MIP blog posts)

      MIP Fees Survey Results

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      • #4
        Sorry my teaching streak wascoming through again- computerised accounting, yes best to do these as bank payments....definately no need to Journals

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