How do i get credit card payments to show up on the profit and loss statement?

Hi gobubblenet. I’d like to share some insights on credit card payments and their impact on the Profit and Loss (P&L) report..

There are reasons why credit card payments do not appear on the P&L statement: 

• Credit card payments do not appear on the P&L statement because they are balance sheet transactions, representing the repayment of a liability (the credit card balance) rather than income or expenses.
• The P&L statement is designed to show income and expenses over a specific period, not debt payments.

When you pay your credit card balance, it reduces your liability and does not impact the P&L. Only individual credit card transactions recorded as expenses appear in the P&L, while purchases like inventory do not impact it immediately.

To track your credit card payments and liabilities, I recommend running a balance sheet report.

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