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November 28, 2023
Question

Our credit card automatically deducts from our bank account. How do we recognize this and then allocate the charges to various accounts?

  • November 28, 2023
  • 1 reply
  • 3 views
No text available

1 reply

BigRedConsulting
Level 15
November 28, 2023

The charges are entered in your credit card account register.

 

The payment from your bank account to your credit card account can be entered as a transfer between the accounts, or as a payment (a "check", but not really) from your bank account that uses the credit card account as the "expense" account.