An easy way to record a purchase made on a credit card is to enter the transaction using the Bank Register window. When you record an expense in this way, however, no transaction is recorded to the accounts payable account and no purchase order can be printed.
Therefore, you should use this method only when you don't require a purchase order, when you don't need to track a transaction by the accounts payable account, and when you purchase non-inventory items. You might want to use the Bank Register window to record the purchase of office supplies or postage, for example. (Use To pay a vendor (Pay Bills window) for all purchases that don't meet these requirements.)
Before you begin recording purchases made on the company credit card, be sure to create a liability account to track the amount owed to each credit card provider. These accounts must be detail credit card accounts.
If you don't have time to record credit card purchases as you make them, you can record your purchases when you receive the credit card statement. At that time, you can allocate your purchases to the appropriate expense accounts.
If you finance charges appear on your credit card statement, you can record these charges in the same way.
As with checking accounts, you can reconcile your credit card accounts using the Reconcile Accounts window.
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