Let's say Company A uses Credit Card B to pay for certain purchases, like purchases from Amazon.com.
How do you set up the accounts & journals to properly record the flow of money & balances?
1) Is it better to record a purchase receipt or a supplier invoice?
2) Do you set up the account internal type as a payable or a bank account?
3) Do you set up the account type as a payable or as a credit card? If credit card, this generates an error if selecting internal type as payable.
4) What is the proper method for applying payment? Is this a manual journal entry, or can this be done by "paying the invoice" somewhere
David, Did you find a way to pay for purchases as you asked, the answer is about taking credit cards for sales?
Can you show me step by step as I don't fully understand. There must be an easier way. Do we have to use vendor bills to log credit card purchases?
We have v13