Before you start recording your credit card transactions, create a liability account for each credit card you will use. Name the accounts VISA, American Express, etc. These accounts will keep track of the amount you owe to credit card providers. For information on creating an account, see To create an account.
You record a payment for a credit card purchase by specifying the credit card account in the Pay Suppliers, Spend Money or Bank Register window.
The method you use to record a payment for a credit card purchase depends on whether you have entered the purchase transaction using the Purchases window.
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If you have entered a purchase, then record the payment in the Pay Suppliers window.
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If you have not entered a purchase, record the credit card purchase in the Spend Money or Bank Register window.
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When you record the payment, 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 liability account.
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In the Account field, select the bank account you want to use to make this payment.
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In the Card field, type or select the credit card provider’s name.
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Type the payment date in the Date field.
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[Optional] Type a comment in the Memo field to provide a brief description of the payment you are recording.
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In the scrolling list area of the Spend Money window, enter the liability account you have created to track transactions for this credit card.
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Click Record.
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