When you receive your credit card statement, follow the steps below to pay your bill.
To pay your credit card bill:
Go to the Accounts List and then click on the name of credit card you are paying.
Click Record Transaction, then Credit Card Charge to enter any finance charges or other fees charged on your statement. Show me how
Go to the credit card's Account Activity List.
Click Record Transaction, then Enter Credit Card Charge.
Enter the name of the credit card company in the Pay To field.
(Optional) Enter a reference number for the purchase, for example, the statement date.
Choose the account to record the charge to, such as Finance Charges expense account.
Enter the amount of the finance charge.
(Optional) Add a note for the entry. You can also add a memo for the entire transaction in the Memo field at the bottom of the form.
Click Save.
Click Record Transaction, then Credit Card Credit to enter any credits issued by your credit card provider, such as rebates or cash-back promotions, or from your vendors, such as credits for returned merchandise. Show my how
Go to the credit card's Account Activity List.
Click Record Transaction, then Credit Card Credit.
Enter the name of the merchant that issued the credit in the Received From field.
Enter the date of the credit.
In the Bookkeeping Account field, choose the account to assign to what was credited.
If the credit included a return of inventory items, be sure to also record an inventory adjustment.
Click Add Line if you need to assign part of the credit amount to another account.
Click Save.
The total of the credit transaction should equal the total amount credited by your vendor and will reduce your credit card account balance.
Click Record Transaction, then click Credit Card Payment to record your payment.
Enter the name of the credit card company in the Pay To field.
Select the payment method.
(Optional) If paying by check, enter the check number.
Choose the bank account you made the payment from for Record in Bookkeeping account.
Enter the amount you are paying on the account this month.
(Optional) Add a note for the entry, such as the statement date. You can also add a memo for the entire transaction in the Memo field at the bottom of the form.
Click Save.
The total of the transaction should equal the total amount you want to pay on your credit card account. This amount will be deducted from your bank account and your credit card account balance will be reduced by this amount.
How do I record a credit card charge?