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About credit card payment
hai sir, we are maintaining a bank account with standard chartered bank and having a credit card too, our bank accounts gets debited automatically for the credit card dues, now the issue is how to make entry for this transaction and whether i have maintain separate ledger for credit card or whether it is not required?
Replies (3)
If it is your regular practise to use credit card for business related payments, better to create a separate ledger (under Bank acounts) for credit card. and make similar entries as if from any bank accounts.
(1) when you use credit card.
Exp./creditor dr.
To credit card bank
(2) when credit card debited by your current a/c
Credit card bank a/c Dr.
To current bank a/c
You should use seprate account for credit card bank a/c
thanks for your replies sir.
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