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December 2, 2019
Question

I have been using a credit card to purchase goods now payment is due on the credit card how do i account for this payment

  • December 2, 2019
  • 1 reply
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1 reply

December 2, 2019

We can create a cheque or expense to pay a credit card, thebreadbasket.

Here's how to do it:

  1. Click the Create (+) menu at the top and select Cheque or Expense.
    If you have the new QBO interface, you can click the +New button.
  2. Enter your bank account in the Bank Account field.
  3. In the CATEGORY column, enter the credit card account.
  4. Enter the amount you want to pay.
  5. Enter the other necessary details.
  6. Click Save and close.

If you're unsure on what transaction (expense or cheque) to create, you can reach out to your accountant about this. You can also review this article about the difference between bills, cheques, and expenses.

 

It'll lessen the amount due for the credit card account. Have a great day!