I have recently taken over the books for this company. The company had one credit card before February of this year. After the problems with the previous girl he split the one card into 2 cards. now instead of a card with a $100,000 credit limit there is one with $90,000 and one with %$10,000. Owner is not very communicative. I was trying to figure out what had happened and where the other card went.....Long story short there had never been an account for the credit it was merely set up as a vendor and all transactions for each day were entered as one entry.....not allocating the vendors that were used. I have now been using the credit card account and paying vendors with it. I went to reconcile and the one with the $10,000 limit was fine because it started with no balance...easy. The other card carried the outstanding balance. I need to know how to reconcile this card. I have entered the opening balance but it wants me to add prior outstanding. Im not sure how to do this. They were all recorded in one Vendor account -Mastercard-
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