Before you record credit card purchases, you need to create a credit card liability account for each credit card you will use. Name the accounts VISA, American Express, etc. These accounts will keep track of the amount owed to the credit card provider. For information on creating an account, see ‘Set up accounts’.
Recording payments for credit card purchases
You record a payment for a credit card purchase by specifying the credit card account in the Pay Bills, Spend Money, or Bank Register window. When you record the transaction, the payment amount is assigned to your credit card liability account.
Recording payments to credit card providers
When the time comes to pay your credit card provider, you use the Spend Money window to record a payment from your bank account to your credit card account.
|
1
|
|
2
|
In the Pay from Account field, select the bank account you want to use to make this payment.
|
|
3
|
In the Card field, type or select the credit card provider’s name.
|
|
4
|
Type the payment date in the Date field.
|
|
6
|
Type a comment in the Memo field to provide a brief description of the payment you are recording.
|
|
7
|
In the scrolling list area of the Spend Money window, type or select the liability account you have created to track purchases made with this credit card.
|
|
8
|
Click Record to record the credit card payment.
|
