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Fouad 12
Oct 13, 2021 9:59 AM UTC
Solved

Revolut's business virtual card

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?

EmmaMAnswer
Oct 13, 2021 10:17 AM UTC

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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EmmaMAnswer
Oct 13, 2021 10:17 AM UTC

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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