Record credit card purchases

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Whenever you make purchases using your credit card, record them in the usual way by creating a purchase receipt. When making a payment for the purchase, ensure that you select the applicable credit card bank Account from the list.

The credit card account will go further and further into a negative balance the more it is used. The total balance on the account should match the amount due on the card. When you receive your card statements you should be able to reconcile all the entries.

You will also need to record credit card payments together with any interest charged.