On Sat, Mar 7, 2009 at 2:06 PM, Roderick A. Anderson <[email protected]> wrote: > I looked at the thread from the last quarter of last year on handling > Credit Cards used by businesses to make purchases. Unfortunately I'm > still confused because of my lack of accounting knowledge. > > Anyone willing to share their steps for setting up and using credit > cards for making business purchases? Preferably so we of the > accounting-thick-headed-nature can do it. :-)
Add a COA account for the credit card. Make it a liability account. Check the AP Payment box. Then you can pay an AP invoice with this account. When you make a payment you do that as a GL transaction, and you also add interest/finance charges in this way. Best Wishes, Chris Travers ------------------------------------------------------------------------------ Open Source Business Conference (OSBC), March 24-25, 2009, San Francisco, CA -OSBC tackles the biggest issue in open source: Open Sourcing the Enterprise -Strategies to boost innovation and cut costs with open source participation -Receive a $600 discount off the registration fee with the source code: SFAD http://p.sf.net/sfu/XcvMzF8H _______________________________________________ Ledger-smb-users mailing list [email protected] https://lists.sourceforge.net/lists/listinfo/ledger-smb-users
