Recording credit card payments

Question

When recording the credit card payment it goes through the general ledger account as a debit and credit.

Not sure what I'm doing wrong and this puts me out for balance when reconciling.

Genreve_S · Answer

Hi @alecman,

Thanks for sharing your concern with us. I appreciate your patience and apologize for the delay in response.

I understand you're encountering some difficulties with recording credit card payments. The way a transaction is reflected in the ledger is largely influenced by how it was initially recorded. Typically, a credit card payment can be accounted for by recording it as either a 'spend money' transaction or a 'pay bills' transaction. I would suggest attempting to record your credit card payments in this manner.

However, if I've misunderstood your concern, please don't hesitate to provide further clarification on your issue and let us know how you've been recording these credit card payments.

We're here to provide further assistance if needed.

If my response has answered your inquiry, please click "Accept as Solution" to assist other users find this information.

Thanks,
Genreve