How should I record credit card expenses?
To accurately track credit card expenses, follow this method:
1. For each credit card purchase, record an expense and select the credit card account.
2.When it's time to pay your credit card bill, make a record of the transfer from your payment account to the credit card.
Note: Transfers help in tracking the flow of money between different accounts. Actions like withdrawing cash or loading a transit card are typical examples of transfers.
Automatic Payments: If your credit card is set to automatic payment, the system will generate a repayment entry automatically on the due date.
For further guidance, please see:
How to set up automatic repayment for credit cards?How to set up credit card installments?PreviousThe base currency has been changed to AUD, but the app still shows amounts in USDNextHow to set up automatic repayment for credit cards?
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