Invoices paid via business credit card

Robert64

Hi, 

 

New here. Hopefully someone can help with this.

 

Outstanding invoices that were urgent and paid on a Business Credit card, instead of out of the account attached to our Myob. 

 

Wondering how this is to be entered into the system correctly to show the invoices were paid by the credit card. 

 

Any help would be greatly appreciated. 

Earl_HD

Hi @Robert64,

Thank you so much for your detailed post and my apologies for the late response. 

Before you record credit card transactions, you need to create a credit card liability account for each credit card you will use. Name the accounts after your credit cards, for example, VISA, American Express, etc. These accounts will keep track of the amount owed to the credit card provider. For information on creating an account, see Set up accounts.
 

Recording payments for credit card purchases

You record a payment for a credit card purchase by specifying the credit card account in the Pay Bills, Spend Money or Bank Register window.

The method you use to record a payment for a credit card purchase depends on whether you have entered a purchase transaction using the Purchases window.

 

  If you have, then record the payment in the Pay Bills window.

  If you have not entered a purchase, record the credit card purchase in the Spend Money or Bank Register window.

  When you record the payment, the payment amount is assigned to your credit card liability account.

 

Feel free to post again, we're happy to help!
Regards,
Earl