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How do I handle credit card charges from Dec and Jan and the payment for the Dec charges vs the Jan charges when the entire statement was paid in January?

 
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Re: How do I handle credit card charges from Dec and Jan and the payment for the Dec charges vs the Jan charges when the entire statement was paid in January?

When did you first transition to using QB? Here's the overview:

 

Purchases made by Credit Card are reported as that spending for that date you Put it on the card.

 

Paying down the card balance is paying off Debt; that is not Further expense. That is an Expenditure or Cash Flow.

 

If you are new to QB, then you are supposed to have made an initial Enter Credit Card Charge for Dec 31 and posted the total you owed across that year end as Equity. It Reduces your equity, to show you have some debt, here, to be paid later.

 

For new charges, you enter the expense as a Credit Card Charge, dated in this year. These increase the debt balance on the card account.

 

The Payment is either from checking against the card account; or in the Card account you see this as credit card Credit/Return, and the checking account is in the detail. This is going to decrease the debt balance on the card account.

 

You get a statement of your account activity and use that to reconcile. There is no Bill in this process. Bill is AP, a completely different type of liability. CC is a type of liability that reflects, Hey, I already paid everyone by Borrowing from the card provider. And now you are simply managing Debt to the card provider.