Credit Card & Web Connect Files
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Credit Card & Web Connect Files

 
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Sean Dotson
Guest
Posted: Tue Nov 08, 2005 5:01 pm    Post subject: Credit Card & Web Connect Files Reply with quote
I have been downloading web connect files for our credit cards for several
months. We had a late fee one month and it was charged to the main credit
card (we have 3 different employee cards and one parent account that gets
charged the late fees and finance charges etc...)

I have had no issue matching the transactions to the child cards. Now I
have the finance charges on the main card. So I create a new CC account for
the parent card and enter the fees. No problem.

However the web connect file for this main account also shows the payments
made each month. It wants me to match them to entries in the register.
However there are no entries for the register as each month I reconcile each
of the children cards and enter them as a bill to be paid.

Should I just ignore these entries in the web connect file or how should I
handle them?

--
Sean Dotson, PE
RND Automation & Engineering
www.RNDautomation.com
www.mcadforums.com

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Golden California Girls
Guest
Posted: Wed Nov 09, 2005 9:02 am    Post subject: Re: Credit Card & Web Connect Files Reply with quote
Sean Dotson wrote:

Quote:
I have been downloading web connect files for our credit cards for several
months. We had a late fee one month and it was charged to the main credit
card (we have 3 different employee cards and one parent account that gets
charged the late fees and finance charges etc...)

I have had no issue matching the transactions to the child cards. Now I
have the finance charges on the main card. So I create a new CC account for
the parent card and enter the fees. No problem.

However the web connect file for this main account also shows the payments
made each month. It wants me to match them to entries in the register.
However there are no entries for the register as each month I reconcile each
of the children cards and enter them as a bill to be paid.

Should I just ignore these entries in the web connect file or how should I
handle them?

Ouch. You should have made the parent account first and had each employee card
as a sub account of the parent account.

You reconcile only the parent account. You pay only the parent card. When the
statement comes you transfer the balances from the sub accounts to the parent
account.
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Sean Dotson
Guest
Posted: Thu Nov 10, 2005 1:03 am    Post subject: Re: Credit Card & Web Connect Files Reply with quote
So any way to fix this now?

BTW, we never even knew there was a parent account until the first time we
got lazy and missed a payment.

--
Sean Dotson, PE
RND Automation & Engineering
www.RNDautomation.com
www.mcadforums.com


"Golden California Girls" <gldncagrls@aol.com.mil> wrote in message
news:437175F4.D248CF8A@aol.com.mil...
Quote:
Sean Dotson wrote:

I have been downloading web connect files for our credit cards for
several
months. We had a late fee one month and it was charged to the main
credit
card (we have 3 different employee cards and one parent account that gets
charged the late fees and finance charges etc...)

I have had no issue matching the transactions to the child cards. Now I
have the finance charges on the main card. So I create a new CC account
for
the parent card and enter the fees. No problem.

However the web connect file for this main account also shows the
payments
made each month. It wants me to match them to entries in the register.
However there are no entries for the register as each month I reconcile
each
of the children cards and enter them as a bill to be paid.

Should I just ignore these entries in the web connect file or how should
I
handle them?

Ouch. You should have made the parent account first and had each employee
card
as a sub account of the parent account.

You reconcile only the parent account. You pay only the parent card.
When the
statement comes you transfer the balances from the sub accounts to the
parent
account.







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