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waynedrew@rogers
Level 1

How do you record an expense paid by a credit card?

I have set up a current liability account called Credit Card Payable
2 Comments 2
Amanda-B
QuickBooks Team

How do you record an expense paid by a credit card?

Hey there waynedrew@rogers,

 

Thanks for reaching out to us here. Making sure you're recording your transactions properly is an essential step for maintaining clean books. I would be happy to point you in the right direction.

 

To ensure accuracy in your books, I recommend reaching out to an accounting professional for expert advice on creating these types of transactions. They'll be able to guide you in choosing the correct transaction type as well as which accounts to affect so that your accounts can end up with the right balance. You can add your accountant to your books by going to the My Accountant tab of your QuickBooks account. You can also find an accountant that has experience using QuickBooks near you by clicking on the Find a pro to help option in that section.

 

If you have any other questions, feel free to reach out here.

AdminAndrea
Level 5

How do you record an expense paid by a credit card?

This is how we record items paid by credit card (typically an immediate expense  - something that you get a receipt for payment made rather than an invoice for payment due at a later date).

 

+New --> Suppliers - Expense

Payee is the supplier of the goods 

Payment account is the credit card you used to pay the expense

Payment Method is credit

Enter the transaction (category, description, amount etc.)

Attach a copy of the scanned receipt (if you do that) and make any notes or references you want kept on file. 

Save and close

 

Hope this helps.

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