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Im trying to complete the yearly reports for my accountant. Which report shows the total payments applied to a credit card for the year?

I see reports that show balance owing on a the credit card but, no report showing how much I have paid throughout the year towards the credit card, which I consider an expense for the business.
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Re: Im trying to complete the yearly reports for my accountant. Which report shows the total payments applied to a credit card for the year?

You can create a custom transaction detail report and filter by account (credit card) and transaction type (credit card credit). See example

QuickBooks Team

Re: Im trying to complete the yearly reports for my accountant. Which report shows the total paym...

Welcome to the Community, @NP48512. I can provide clarification on credit card payments. 

 

Generally, a payment for a credit card is not an expense, but rather paying down a debt. The expense would be incurred when the card was used, such as purchasing an office chair using a credit card. For additional insight on credit card payments, I recommend the following article: How to record credit card payments

 

However, you can run an Account QuickReport in order to help locate the payments on the account. Here's how:

 

  1. Select Accounting and choose Chart of Accounts.
  2. Click the drop-down triangle under the Action column for the credit card and choose Run report
  3. For example, if you use Transfers to record payments, select Customize.
  4. Click Filter.
  5. Select the drop-down triangle next to Transaction Type and choose Transfer
  6. Apply the necessary dates in Report period.
  7. Click Run report.

 

Please let me know if you should have any questions about this or anything else. Hope you have a good day. 

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BRC
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Re: Im trying to complete the yearly reports for my accountant. Which report shows the total payments applied to a credit card for the year?

Paying off a loan, a credit card balance, is not an expense.  Only the interest charged is an expense.

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Re: Im trying to complete the yearly reports for my accountant. Which report shows the total payments applied to a credit card for the year?

I missed the original notation that expressed considering credit card payments an expense. A very smart contributor to this forum had an easy to understand explanation for small business owner's when he explained that there is a difference between an "expense" and an "expenditure". Paying your credit card account balance is an "expenditure" and not an "expense".

 

The way I explain this to my clients is that when you charge something on your credit card, this is an expense for your business, when you make a payment to pay down the balance of this credit card, this is an expenditure. You only need to provide your Accountant with your annual expenses.

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Re: Im trying to complete the yearly reports for my accountant. Which report shows the total payments applied to a credit card for the year?

@NP48512 

 

I'm curious, do you know why the accountant would want a report showing total credit card payments for the year?