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Fouad 12
October 13, 2021
Solved

Revolut's business virtual card

  • October 13, 2021
  • 1 reply
  • 0 views

For those banking with Revolut (business account), do you treat/categorize payments with their virtual card as a credit-card payment or debit-card payment? 

QuickBooks recognize payment as credit-card payment but technically it's a debit card payment.

Does it make a difference from an accounting perspective? how are you categorizing the payment?

Best answer by EmmaM

Hello Fouad, Does it show in the balance sheet as allocated to a credit card? If so it would impact in terms of adding to that liability rather than on the bank account affecting the asset. 

1 reply

E
EmmaMAnswer
October 13, 2021

Hello Fouad, Does it show in the balance sheet as allocated to a credit card? If so it would impact in terms of adding to that liability rather than on the bank account affecting the asset. 

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