We have credit cards, but carry no balances. Because we carry no balances, I have not set them up with accounts, just vendor information. I have a receipt from the post office charged to a credit card. I thought I could treat these like open invoices. Is that right? Credit the checking account and debit the postage expense account. What happens until the check is written to pay the whole credit card statement?
Shelley wrote:I'm confused again...big surprise, I know.
I am using v.11.
We have credit cards, but carry no balances. Because we carry no balances, I have not set them up with accounts, just vendor information. I have a receipt from the post office charged to a credit card. I thought I could treat these like open invoices. Is that right? Credit the checking account and debit the postage expense account. What happens until the check is written to pay the whole credit card statement?
Blessings,
Shelley
Did a forum search on credit card and found this thread which should help you:
Thank you. I think the last post in that thread is what I am looking for. I am/was concerned that it wasn't the appropriate way to do it because we don't carry a balance.
