Offset End of Month

[Mike or Penny Novack]

Peter -- I don't understand what you are asking (what is your perceived 
problem)

Of course some given bank statement might not be on the same period as 
another statement or your books. But what PROBLEM is this causing? Each 
transaction on the credit card should be posted separately (example --- 
expense vs credit card liability) as of its date and the date of the 
statement not relevant.

Is the perceived problem that you were expecting to be entering just one 
transaction? Didn't see that that you owed the money as of the dates of 
the original (separate) transactions and not as of the date when you 
were sent a statement? Imagine instead that each of the transactions on 
the credit card statement would be for separate expense categories 
(perhaps each of the charges needing to be split between expense 
categories -- that would be quite realistic for my situation).

LATER you send in a payment but the transaction as of that date is 
simply reducing both cash and a liability.

Michael

Peter Underwood wrote:

>This seems a basic question, but I can't work out how to do it. Credit
>cards and some bank statements don't close the period at the end of
>the month. It's administratively easier to treat the Statement Period
>as if all the transactions took place in the month when that period
>ends even though some of those transactions occurred in the previous
>calendar month,
>
>For example, if a credit card statement shows:
>
>Sep 28: Wally World $63.00
>Sep 30: Burnt Burgers $28.00
>Oct 3: Divine Drinks $48.00
>
>and then the statement period closes on Oct 4th, the CC account will
>show the first two in September and the last one in October. Is there
>a way then to debit the whole Statement balance on the "Amounts Owed"
>account dated Oct 4th (and subsequently the payment on it's date which
>may even be in November? If so, how do I do that without ending up
>with end of month figures not balancing? Do I have to use an
>intermediate account "Amounts Owing - Temporary"?
>
>Note that I obviously can't change my monthly close date to suit
>because these statement periods all close on different dates.
>
>Looks simple, but I can't work out how to get it to balance. Any ideas?
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There is no possibility of social justice on a dead planet except the equality of the grave.