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Business Credit Cards Instant

Posted on February 16, 2010.
Business Credit Cards InstantHow to get refund of credit card accounts instant sage?

Surrender of credit card is tax free, then how enter in the accounts of trade without the inclusion in income?

You will need to allocate to the account on which the refund is paid.
Then I would enter as a recipe for "drawings for the car. Indeed, this will reduce your drawings and be correct for tax purposes.

Dixie is right. I presume it was some kind of reimbursement for personal reasons. If you want to talk about reimbursement on the credit card used for a business transaction, then you really need to show it as a recipe, using the account and the type of expenses that he had originally contemplated. In other words the same codes you used for payment, but instead receipt showing payment.

Yes treat it as a payment received, but whats it for - whether it is recoverable, then it needs to offset the expense (any accrual should be reversed separately) If not how come its tax-free

It all depends on why you have received

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