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Fixing credit card totals
11/3/09 1:15 PM
Total Views: 23
Total Views: 23
The balance for our company credit card has been wrong for a couple years. Is there a way to fix it other than going back to square one?
All Replies: Answers (1)
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Answer
11/7/09 10:20 AM
The proper answer is yes. However, you may not want to spend days going thru old credit card statements. It sounds like you haven't been doing monthly CC reconciliations.
The Quick & Dirty method is to reconcile to your last CC statement and enter an adjustment to match the statement. However, you may want to get an accurate financial picture for the current year. In that case, you could reconcile your Dec. 2008 CC statement & adjust to the correct balance in 2008. Then go forward & reconcile each monthly statement for 2009.
