Reconciling a Credit Card
Good morning. I have literally read through 8 pages of previous posts to avoid asking the same question as before but there are conflicting information, so I am just doing this ...
I have a Credit Card account to reconcile as of 1 July '20 without putting it in the bank feed. I set the account up as a liability, entered a balance (as a positive) as at 1 July 2020. I don't know how to post the transactions to it though, as when I go to banking, spend money, it only shows the actual bank accounts there and not the Credit Card account. I then tried to set up a Credit Card account as a "bank" type which shows up when I post from the banking tab under spend money, but surely this is not correct as this account is not an asset and I don't want to do this the wrong way.
Any help in this regard would be appreciated.
Hi Mathilda
Typically credit cards are set up as liability accounts with the account type being Credit Card. By doing this the account will appear in the Pay from Account lists to make payments from.
In your post you mentioned that you had set it up as a liability account, I assume it wasn't listed as having the account type of credit card. To remedy that one and have it appear in the lists, go to Accounts>>Accounts lists>>Choose the desired account and update the Account Type field to be Credit Card. Once that has been done, you should be all sorted to use that account on payment transactions.
