Chris Travers wrote: > On Sat, Mar 7, 2009 at 2:06 PM, Roderick A. Anderson
<snip /> >> 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. I figured it would be something this simple. :-) Are there any guidelines, from the accounting world, on what the account number(s) should be? The template for a US Service Business is what I used and has 2110-2150 for taxes and 2210 as Wages. Long term liabilities start at 2620. Do you think the 2300 block for short term liabilities would conflict with standards or common practices? > 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. This I remember from the thread last year. Thanks, \\||/ Rod -- ------------------------------------------------------------------------------ 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
