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March 10, 2021
Question

I just wanted to ask, if I pay for some of my products via credit card, which payment goes on p&l the one from the credit to the supplier or the one to my credit from me?

  • March 10, 2021
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1 reply

March 10, 2021

Thanks for joining us here on the Community, jordanryder1234-

 

The credit card that you pay this with to the supplier (and that is selected under 'Payment account' on the bill/expense) will show on the P&L. Depending on whether your business is using the Cash or Standard accounting method, the bill will either hit the P&L on the bill date (standard method) or bill payment date (cash method).

 

You can check which method your business is set to by going to the Cog > Accounts & settings > Advanced > Accounting > Accounting method. 🙂