Accounting Entry for credit card payment

Hey, Ur Credit Card machine ( Bank Name) Will b Debited

to Sales/Goods Account

1st made the entry in books... when payment made for card (say ICICI Credit CArd)...

ICICI Credit Card .....Dr

      To Bank

then...

Expenses(for which card is used)......Dr

   To ICICI Credit Card

and at last the balance of ICICI Credit Card should be NIL or Credit...it should not be debit..

First book the sale as..

Customer A/c .......Dr.

   To Sales

and then receive the payment as

Credit Card A/c ......Dr.

  To Customer A/c

By tht ur customer a/c get nullify and pay is booked on revenue side

Kindly help me how to enter the 10% Performance bank Guarantee  ( PBG)on sale, simultaneously these PBG will be issued by the bank against keeping the margin money of 25% for the PBG , which will have the maturity value same as the expiry date of PBG.

Kindly guide for entries to be done in Tally erp.

Ravi Mishra.

if you are the customer and you paid through your credit card

Exp A/c Dr

To Credit card (Bank Name) A/c

and then

Credit card (Bank Name) A/c

To Credit Card (Bank Name) Payable A/c

And finally when you pay to your bank the credit card payment

Credit Card (Bank Name) Payable A/c

To Bank A/c

if your customer has paid you through credit card

Credit Card (Bank) A/c Dr.

To Sales A/c

and when you receive credit in your bank account then

Bank A/c Dr.

Discount Charged A/c Dr

To Credit Card Bank A/c

Purchase Entry

1st made the entry in books... when payment made for card (say ICICI Credit CArd)...

ICICI Credit Card .....Dr 

                 To Bank

then...

Expenses(for which card is used)......Dr

   To ICICI Credit Card

and at last the balance of ICICI Credit Card should be NIL or Credit...it should not be debit..

Sales Entry

First book the sale as..

Customer A/c .......Dr.

   To Sales

and then receive the payment as

Credit Card A/c ......Dr.

  To Customer A/c

By tht ur customer a/c get nullify and pay is booked on revenue side

 I agree with prieya

1)Customer A/c Dr. . .

To Sales A/c

2)Credit Card Co. A/c Dr

To CustomerA/c

3)Bank A/c Dr. .

To Credit Card Co. A/c

HOW TO ACCOUNT CREDIT CARD ADVANCE. IF THE SALE IS EXPECTED IN FUTURE ?

credit card bill total amount 10000

previous amount 4000

paid amount 5000

(iski kya hogi journal entry plz fast awnser)

credit card bill total amount 10000

previous amount 4000

paid amount 5000

(iski kya hogi journal entry plz fast awnser)