How to record Credit Card Payment and Charges.

Modified on Mon, 29 Apr at 6:40 PM

How to record credit Card Payment?

Step 1 : Create a new Chart of Account - Credit Card under Other Current Assets. Please refer below the solution link.
How to create Chart of Account

Step 2 : Create a new Wallet, Associated account link to the Chart of Account you created. Please refer below the solution link.
How to create a Wallet

Step 3 : Please choose the Payment method as Credit Card Wallet.

After record the payment, you can check the Transaction in Wallet statement. And wait until Credit card company transfer the payment to your company bank account, please use Fund Transfer to record. (Please refer the second screenshot) The payment from Credit card will be after charges.

Cashflow -> Fund Transfer

How to record the Credit Card Charges ?

Step 1 : Create a new Category - Credit Card Charges . Please refer below the solution link

How to create new Expense Category

Step 2 : Record in expenses, payment method please choose credit card wallet.
Then you can see the Bank wallet & Credit card wallet got the payment and Credit card charges.