Topic: Credit card payment
First - I think this software is the greatest thing since sliced bread. Just discovered it a few weeks ago and I am replacing Simply Accounting with this.
Now - dont laugh at me - I am in no way an accountant.
I figured out how to enter credit card transactions, i.e. my company buys from a supplier some goods. But I cannot figure out how you document the payments to the credit card company.
Do you do a "Bank Account Transfer"? (that does not seem correct) or do you do a Payment (under Banking and General Ledger) and set the account code/account description to the "Current Liabiliies" account that has the credit card transactions? Of is there another way?
Thanks for the help!!