USA Purchases charged to card not showing up on statement

[Raven]

I have four separate purchases from January, 2016 and one from February, that never showed up on my credit card statement. I've contacted the credit card company, but so far have not gotten a response.

My question is how to account for these. I have very limited accounting knowledge so far. Obviously, I don't want to just delete the entries. I rather think I want to reverse them off of my credit card, but don't know where to account for them after that.

Any advice or suggestions are appreciated.

 

[Fidget]

You need to create an accrual for them so that they're in your accounts and then leave the accrual until they eventually appear on a statement.

 

[ladyrider]

I disagree with the accrual. Most businesses are on a cash basis for filing taxes. If you haven't gotten charged for them yet then they don't exist. I mean you wouldn't book any vendor invoice before you got it would you? Same with a CC

 

[Fidget]

So you don't want to delete the entries but you don't want to accrue for them either. You can't have it both ways. You either apply cash accounting and obliterate any trace of them until such times as they appear on your statement, or, you accrue for the amount under accrual accounting because you know that you have actually made the purchases and do indeed owe the money.

Something else - you can't apply cash or accrual accounting to individual transactions.. you have to adopt either cash accounting or accrual accounting for a business operation as a whole.

 

[ladyrider]

Delete them - they don't belong on the liability account until they are actually billed to the CC. Look at it this way - you go and buy 700 worth of items from a vendor on 30 or 60 days - you don't book the AP and start the clock ticking on the payment terms until the vendor sends you an invoice.
Most of my clients are on a cash basis for tax but I do keep them as accrual throughout the year for their AP and CC outstanding debts and then I do JE's to turn the books into cash for the CPA to work on them.