Record credit card payments
The images and steps in this topic are based on our new design (which you can currently switch on and off). If you haven't switched the new design on, the images may look different.
In addition to creating a credit card bank account, you also need to record the credit card payments. Depending on how the credit card has been set up, you can either set up a repeat transaction to pay the same amount monthly or record each payment individually.
Set up a repeat credit card payment transaction
If you make regular loan repayments, it is far easier to set up a repeat bank transaction. IRIS KashFlow will then automatically create the applicable transaction for you.
-
Go to Banking > Banks.
-
From the Actions (3 dots,
) menu select Repeat Transactions. -
Select Add repeat transaction.
-
Select Money Out.
-
Select the Bank Account you are repaying from and select the bank account from the Type list, for example, HSBC Business Loan.
-
Enter the Full Amount to be repaid each month.
-
Enter a Comment such as Loan Repayment.
-
Use the Frequency and Duration settings to determine when the payment should stop. You could, for example, enter the number of repayments or enter the date of the last payment.
-
Select Save to confirm.
Record individual credit card payments
Use this method if you make ad-hoc credit card payments.
- Go to Banking > Banks and select View or add for the bank account from which the repayment will be made.
-
Select Add new transaction. The Add a transaction form displays.
-
From Transaction type select Money out.
-
Select the date the repayment left the account.
-
Select the credit card account from the Code list.
-
Enter the payment Amount.
-
Select Add transaction+ to record the transaction. The new transaction is added to the Transactions list.