I'm new to Sage Instant Accounts (was previously using old quickbooks) and am wondering if I am recording items purchased on the company credit card correctly. I am setting up Suppliers for each of the transactions supplied, then creating purchase invoices for the transactions, then posting those to the company credit card bank account. Is this correct? Also, how do I then pay the credit card? Is this a 'Payment' from the Current a/c or Transfer from the Current a/c?
If they are normal supplier invoices that are being paid then doing invoices and using the credit card account is the right way. Alternatively for small/one off purchases, you can just make bank payments on the credit card account.
To pay it make a transfer from the current account. With each credit card statement, reconcile like you would a bank account.
