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Experienced Member

accounts payable for a small business credit card

can someone give me step by step on how to set up an AP acct for my business credit card?  I see one in my chart of accounts, but don't know how to use it.  Example: $20 utility bill. $45 subscription fee, $30 in postage for a total charge on my card of $95.  I only want to make a partial payment of $45~ how d

o i list it in my banking "write check"? I want the total of each item to show up in my monthly reports, but it says "not in balance" when I try to do the check?

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Established Community Backer ***

Re: accounts payable for a small business credit card

Credit card accounts and AP accounts are two different types of things in QB.  Yes a CC is a type of payable - but lets use the words like QB does for clarity.  That amounts due to CC will be shown on the balance sheet separately from AP.  Each CC usually has its own account - but there is usually only one AP account.

Enter every CC charge as a separate item.  An AP bill from a vendor can also be paid using a credit card charge.  Use the CC reconciliation function to verify CC statements in the same way you do a bank reconciliation.  At the end of the reconcile function there are payment options that will appear.  Payments to a CC can be recorded simply as 'write cheque' and coding to the CC account.