Record credit card transactions

Create a bank account to manage your business credit card. Make sure you also enter your opening balance. This is the balance of your credit card when you start entering transactions into Sage Accounting.

Read create a bank account for more information.

Create a new ledger account for credit card charges and interest. This is so you can keep them separate from other bank accounts. Otherwise you can record the interest and charges to the same ledger account you use for other bank accounts.

Read bank charges and interest for more information.

To record credit card payments, create transactions using the credit card bank account you set up. How to create them depends on your process:

• Using bank feeds: read processing transactions from a bank feed or imported file
• Without bank feeds, no invoice required: read record an other payment
• Without bank feeds, paying a supplier invoice: read record a supplier payment

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.

If you've received a refund on your credit card, you'll need to record this too.

Read refund an other payment if the payment doesn't have an associated invoice.

For payments allocated to a purchase invoice, read refund a supplier payment allocated to a purchase invoice.