3 Ways to Pay Credit Cards in QuickBooks
When you use a credit card to pay for goods & services, there are three ways to record those purchases into your QuickBooks company file. Pay your credit card in full each month - paper check or online #1 - If you pay your monthly bill in full, just Write a Check to the credit card company. You will then "expense" the charges in the accounting section of the check. Don't forget that yo u have two tabs in the section where you enter your expenses....one is for expenses, and one is for items (affect inventory & Cost o f Goods Sold). You can switch back and forth between the two tabs in order to record all expenses and items purchased with the credit card. The total of the two tabs should equal the total of the Credit Card Amount you wish to pay. If you pay your card online, you can enter "online" or the authorization number as the check number. #2 - Select Enter Bills to create a bill. Use the same method to "expense" the charges as y...