Thanks for reaching out to us, kmds.
Technically, a credit card transaction doesn't count as a cash transaction. When a credit card is swiped, it will affect the credit card liability account. When a bill is paid, it will affect the bank and the liability accounts.
Regardless whether you're using cash or accrual basis, you'd want to record it normally. You can create an expense and a bill. Here's how:
1) Click the Plus icon, and then select Expense.
2) Choose the supplier, and then select the credit card account.
3) Enter the details of your purchase.
4) Once done, click Save and close.
5) When you receive the credit card bill, create a bill in QuickBooks Online.
6) In the supplier drop-down list, select the bank institution.
7) Under the Account details, select the credit card account.
8) Enter the total amount of the purchase and other details.
9) Click Save and close.
Once you are ready to pay the bill, create a payment for it. In the bill section, you might be wondering why the bank was selected instead of the supplier. Technically, the bank pays the supplier for the goods and then charges you for the amount. Your payment would have to be made to the bank to settle the amount.
If you have more questions with this, please let me know. I'd be more than happy to share my ideas and suggestions.