How do I track credit card purchases and pay my credit card bill?
- 22 Dec 2023
- 1 Minute to read
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How do I track credit card purchases and pay my credit card bill?
- Updated on 22 Dec 2023
- 1 Minute to read
- Print
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There are two possible methods for tracking credit card transactions:
- Credit cards can be treated as negative assets, known as a “contra” assets. There are several advantages to this approach. See: Credit Cards as Contra Assets
- The other option is to treat credit cards as a liabilities, using journal entries to record purchases. See: Credit Cards as Liabilities
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