Register your credit card transactions

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Credit Card with an accounting using the Cash principle

If no down payments are made on the credit card and the invoice is paid in full with the bank, you should record the credit card invoice at the time of payment when the costs also should be recorded.

You need to record in several rows:

  • Enter the same date and document number for each movement on all rows that make up the registration.
  • In the Debit A/C column enter the cost account, depending on the type of purchase (even those made abroad). One cost per row is recorded.
  • In the Credit A/C column enter the bank or post account used to pay the invoice.
  • In the Amount column enter the total amount of the credit card invoice.

After recording all movements, check your credit card balance by opening the credit card account card.
 

Credit Card with an accounting using the Accrual principle

If you have a turnover accounting, based on the accrual principle, all costs relating to credit card purchases are recorded when you receive the invoice:

  • All costs are recorded in the Debit A/C column
  • On the Credit A/C column you register the card debt, just like any other supplier

When the credit card invoice is paid, you need to register as follows:

  •  In the Debit A/C column you enter the credit card debit account
  • Credit A/C column enter the bank account or post account used to pay the credit card invoice.

 

This documentation is outdated

The most complete and up-to-date documentation is the one of Banana Accounting Plus: Try it now

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