Record credit card transactions

We recommend that you create a bank account to track your credit card transactions. This helps you monitor your credit card spending.

Some credit cards also support bank feeds. When you link your credit card to a bank feed, transactions import directly, keeping your records up to date.

To record your credit card transactions, we recommend that you:

Create a bank account

Use a bank account to manage your business credit card. Enter your opening balance; the amount owed on the card when you start recording transactions in Sage Accounting. Read create a bank account for more information.

Set up a category

Create a category code for bank charges and interest to keep them separate from other bank accounts. If you prefer to use one category for all bank accounts, skip this step. You can record interest and charges when you reconcile the account.

If you're using our default chart of accounts, we recommend that you use a code between 7000 and 7999, such as 7901.

Reconcile credit card transactions

Complete a bank reconciliation in the bank account each time you receive a statement. Read how to reconcile your bank account for more information.

Record payments made with your credit card

When recording purchases on your credit card, use Money Out

If your credit card isn't connected to a bank feed, enter your credit card transactions manually.

Transfer money between accounts to pay your credit card bill

As you use money from another bank to pay your credit card bill, record this using the Bank Transfer option. Read transfer money between bank accounts for more information.

Record a refund on your credit card

For guidance on recording the refund of a purchase on your credit card, read enter money in as a refund.