Credit card payments not taken

John85 · Aug 8, 2009

Hi,

I am currently preparing my accounts and Ive come across at least 4 receipts over the past year that have never been debited from my credit card. They are from a variety of sources, 2 paypal, 1 tesco, 1 staples and equal over £150 in total.

I am 100% positive these were never taken from the account as everything fully balances.

Now begs the question what do I do about it? It seems like the companies I owe the money to have gotten their money and its just HSBC that have not taken the money from the credit card.

Has this happened to anyone else and how do you deal with it? I have receipts now and no transactions to match them to. We are a Ltd company.

Also I am worried there could be more as I have not got the receipt for every transaction which means there could be others undebited that I have no receipt for.

Thanks for any advice!

Woodcrest Accounting Serv · Aug 9, 2009

Is it possible that they could have been paid from another credit card, for instance a personal credit card?
Could the paypal balances have been paid by a positive balance in your paypal account?

Do the reciepts confirm it is the same credit card with the last 4 digits?

It would be prudent to enter these into the accounts as unpaid purchases until it is sorted out.

yorkshirejames · Aug 10, 2009

I would be very very surprised if no payment has been taken from your card. In essence, the banks almost never pay out without having received it paid into them - would be more likely that your own statement shows that the money has gone and the recipient not yet received it!

John85 · Aug 10, 2009

Woodcrest Accounting Serv said:
Is it possible that they could have been paid from another credit card, for instance a personal credit card?
Could the paypal balances have been paid by a positive balance in your paypal account?

Do the reciepts confirm it is the same credit card with the last 4 digits?

It would be prudent to enter these into the accounts as unpaid purchases until it is sorted out.

Thanks for your reply.

They were definitely paid for by the company credit card and the last 4 digits match the company ones.

Re the paypal ones, on the receipt it shows the funding source as the credit card and shows that the money was taken from there not the balance as that was nill.

Thanks

John85 · Aug 10, 2009

yorkshirejames said:
I would be very very surprised if no payment has been taken from your card. In essence, the banks almost never pay out without having received it paid into them - would be more likely that your own statement shows that the money has gone and the recipient not yet received it!

I reached the conclusion the bank appears to of paid as because with Paypal (1 of them an eBay purchase) the seller would of already reported me/or never sent the item. But they marked it as paid and sent the item. :|

penguin-chrissie · Aug 10, 2009

I would agree to enter them as unpaid for the time being if your accounts are being filed shortly - just in case they somehow get debitted after your accounts have been submitted, you have reported them accordingly.

Just my opinion of course.

rosetta · Aug 10, 2009

I would enter them in the books......treat one side of the transaction as the various expenses and the other side as a creditor - as basically if the bank has not charged you they are in effect lending you the money.
Then just wait and see what happens next year - if its only small amounts you could write this off next year...or if you are still worrying you still have the option to call the bank and get to the bottom of it. Either way your accounts will be correct.

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Credit card payments not taken

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