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Hana88


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Credit Card Purchases
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Hi All,

I wonder if someone could help me please?

I am currently entering all transactions into the day books on a spreadsheet and wondered how would I record any purchases via credit card? Would I open a new spreadsheet to record all credit card transactions?

Many Thanks for your help,

Hannah 

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Hannah
gbm


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Hi Hannah,

Depends upon the volume. You may wish to include everything on one tab and have a couple of columns showing how the transaction was paid (i.e. bank, cash, credit card). This way, you are simply treating the credit card as a second bank account with an overdraft.




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Merlion ABS


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Depends on how you have laid your spreadsheets out and whether you want to integrate into your current setup or record separately.

I myself would lay the spreadsheet columns out as follows


main data                                                                  Analysis
date, description, total, bank,cash,credit card, VAT, Motor, PPS, etc...


For Credit Card Expenses I would analyse and total up on the statement itself and then put the totals across the sheet accordingly.



-- Edited by Merlion ABS on Sunday 30th of January 2011 05:11:29 PM

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Hana88


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That's great, thank you both for your help.

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Hannah
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