Banking > Credit card transactions
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 Setting up accounts.
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.
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 using the Purchases window, record the payment in the Pay Bills window.
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If you have not entered a purchase using the Purchases window, 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, 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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