-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 Hi,
if you want to post wages on, let's say the 15th of the month, although you only have to pay them at the end of the month you would post them against a "Wages Payable" account. That means its a liability. In very much the same way you can post cc charges against a "CC Payable" account. Then, once you actually pay it off at month' end you offset the "CC Payable" account and credit your checking account. Hope this helps, Bernd On Wed, 21 Jul 2010 03:33:46 -0700 Wallace Roberts Consulting <[email protected]> wrote: > I recently acquired a credit card for my business. Normally, I use my > checking account's debit card to pay for expenses. The checking > account is listed in the CoA as #1060, Checking Account. I'm > wondering how I should classify the credit card? Is it also a current > asset like my debit card? I think of it more as a liability, since I > accumulate charges against it, then pay it off each month from the > checking account. > -- > Best Regards, > Wallace > _______________________________________________ > SQL-Ledger mailing list > [email protected] > http://lists.ledger123.com/mailman/listinfo/sql-ledger -----BEGIN PGP SIGNATURE----- Version: GnuPG v1.4.10 (GNU/Linux) iEYEARECAAYFAkxG8XgACgkQpYU8M8PbPV5vBACeNV4QcibKGxVlqocP7dffdQuQ CJ8An2IaG2I9fvnEkCrd72sOnaAji2Sp =F+xX -----END PGP SIGNATURE----- _______________________________________________ SQL-Ledger mailing list [email protected] http://lists.ledger123.com/mailman/listinfo/sql-ledger
