View Full Version : Credit card tranactions

05-13-2004, 10:53 AM

I have a question regarding credit card expense. The owner of company recently received a credit card for company's purchases. My question is how do I book the transactions. Get the receipts and input them as the expense incurred or wait for the credit card statement and then book the transactions. We are on a accrued basis. We are using Peachtree Manufacturing 2004 edition. My view is that I will book the transaction when incurred and later credited an account called credit card payable. If there is an another method I would like to know. Any comments or opinion will be appreciated. Thank you.

Jim Dale
06-06-2004, 08:56 AM
that really is the best way to book it. you are saying book the expense to the expense accounr and the credit to credit card payable, right?

06-15-2004, 06:35 PM
I set my credit cards up as checking accounts and enter the expenses as checks then I have a account in vendors that is the credit card company when I make a payment I credit the cash account this way you can reconcile the account each month to the statement.

David Sloan