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ayoka
Feb 21, 2007, 04:19 PM
What of account should I make a credit card payment? Other expense
I don't want the payment to show as an expense since I have classfield all the expenses that have been charged. I don't want it to be counted twice.

CaptainForest
Feb 21, 2007, 04:47 PM
What?

Let's say you pay your rent with a credit card.

You:
Dr. Rent Expense 1,000
Cr. Credit Card Payable/AP 1,000

Now, when you go to pay your credit card bill, you:
Dr. AP 1,000
Cr. Cash 1,000

Is that what you mean?

ayoka
Mar 1, 2007, 08:48 AM
What of account should i make a credit card payment? Other expense
I dont want the payment to show as an expense since I have classfield all the expenses that have been charged. I dont want it to be counted twice.
Thanks

CaptainForest
Mar 2, 2007, 09:25 PM
You're welcome