Technically, a credit card transaction doesn’t count as a cash transaction. When a credit card is swiped, it will affect the credit card liability account. When a bill is paid, it will affect the bank and the liability accounts.
Regardless whether you’re using cash or accrual basis, you’d want to record […]
Resolution for 'bank institution issue: 'How to treat credit card transactions (to pay expenses) in cash based accounting' available: Yes.
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