Two businesses - One credit card
Hi looking for some advice. I have two businesses setup in Wave. These two businesses are just additional branches but have their own journals, debt and are located in different locations. They also deal with some different location based expenses and vendors. It is essential to have them setup as two businesses so that we also have accurate reporting for our balance sheet and general ledger etc. Both businesses are setup in wave under one account.
My challenge is that we have one company credit card. Each business pays for its expenses on the card within our bank account. However, within wave, I am unable to complete a "transfer" to another business under my account. This makes it impossible to balance my books since there are payments that have no corresponding transfer. Any advice on a workaround?