Suggested Workflow for Business Credit Card Purchase Reimbursed by Client on Invoice

cygnus8929cygnus8929 Member Posts: 2

What is the recommended workflow in Wave to properly account for the following?

  1. I use the company credit card to make a purchase while on a business trip to visit a client. The purchase is to eventually be reimbursed by the client.
  2. The purchase appeared in the transaction list as a credit to the company credit card account.
  3. I created an invoice that included this purchase along with other items (consulting income, etc.) and submitted the invoice to the client.
  4. While I was waiting for payment from the client, I paid the credit card bill by transferring funds from the company checking account to the company credit card. This resulted in two transactions to appear in the transactions list: a credit to the checking account and a debit to the credit card account.
  5. The invoice was paid that included the reimbursement for the initial purchase.

Thanks in advance for any assistance you can provide.


Sign In or Register to comment.