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Fouad
Level 2

Revolut's business virtual card

For those banking with Revolut (business account), do you treat/categorize payments with their virtual card as a credit-card payment or debit-card payment? 

QuickBooks recognize payment as credit-card payment but technically it's a debit card payment.

Does it make a difference from an accounting perspective? how are you categorizing the payment?

Solved
Best answer October 13, 2021

Accepted Solutions
EmmaM
QuickBooks Team

Revolut's business virtual card

Hello Fouad, Does it show in the balance sheet as allocated to a credit card? If so it would impact in terms of adding to that liability rather than on the bank account affecting the asset. 

View solution in original post

1 REPLY 1
EmmaM
QuickBooks Team

Revolut's business virtual card

Hello Fouad, Does it show in the balance sheet as allocated to a credit card? If so it would impact in terms of adding to that liability rather than on the bank account affecting the asset. 

View solution in original post

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