Before you record credit card transactions, you need to create a credit card liability account for each credit card you will use. Name the accounts after your credit cards, for example, 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 ‘Easy setup assistant’.
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.
The method you use to record a payment for a credit card purchase depends on whether you have entered a purchase transaction using the Purchases window.
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If you have, then record the payment in the Pay Bills 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 the time comes to pay your credit card provider, 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 Pay from Account field, type or 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 or select the payment date in the Date field.
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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, type or select the liability account you’ve created to track purchases made with this credit card.
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Click Record to record the payment to the credit card provider.
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