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We have this situation, by mistake we paid 2 times one yearly expense.
1) paid in the vendor GL, we book the invoice and then the payment
2) paid with the credit card.
So the vendor won't reimburse us, the payment will be apply to next year expense.
How can I book this 'prepaid' payment in the vendor G/L , and in the "prepaid account"?
Example Journal entry
prepaid - Vendor xx 100
to Credit Card 100
Now if I book it the journal entry
vendor - Vendor xx 100
to Credit Card 100
I will appreciate any help
use general journal for the posting. There you can use the Preview Posting before actual posting, to see that the end result is as needed.
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