Visa Card

Experienced Cover User Hobart_PCYC
13 Posts
Experienced Cover User
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Visa Card

Hi All,


We have an Australia Post Load & Go VISA. It has never been accounted for through MYOB. It has only been used 3 times this FY, and been topped up once.


Should I just use a Credit Card account 2-1110;

  1. and enter the current balance as the opening balance, or
  2. enter the balance at 1/7/17 and enter the subsequent transactions?

If 2), then what is the best way to do this please?


Kind Regards,

Hobart PCYC


Super Partner GDay53
326 Posts
Super Partner
Accepted Solution Solved Solution

Re: Visa Card



All Credit Cards should be treated exactly the same as any other bank account, except that they are Liabilities nit Assets.

So create a Liability account and enter you Opening Balance as of 1st July then enter any transactions that have occured and finally reconconcile the account the same as any other bank account.

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