The way you're doing it only works, sort-of, if you pay the credit card off every month in full.
However, the key issue with doing it this way is that puts your expenses in the month of the payment not the month they were incurred, which is usually the prior month, or even the one before that.
As a result, your P&L is never accurate for any given month, since your charges are not entered on the dates you make them.
It's a little like entering checks in your bank account only if they happen to clear, and then on the date they clear instead of the date they were written, though doing that will skew your books less in most cases.
