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Categories AgExpert Accounting AgExpert Analyst
Created by AgExpert Support
Created on Nov 22, 2022

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Just getting started with this and am going to enter some expenses which were paid by credit card. Do you do them as a transaction expense or a payable charge? If done as a payable charge, how does it clear out when you pay the Visa?

  • ADMIN RESPONSE
    Feb 10, 2025

    Hi Tammy! I would enter those as expenses by doing a withdrawal from the credit card account rather than a withdrawal from your chequing account. Then, when you pay the credit card, you can either enter that as a transfer from the bank to the credit card or as a withdrawal from the bank account offset by a "Credit Card Payment" (CP) line instead of Expense (EX).

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