Categories used for Credit Cards
When paying a credit card bill that may have been used to pay expenses in many categories; what do I choose in my register?
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You should enter the credit card charges individually in QuickBooks. You can find the option to enter credit card transactions in the drop down menu under Banking. Of course you need to have the credit card account setup in your chart of accounts.
Then enter each charge. This will debit the specified expense account and credit the credit card liability.
Now when the credit card statement arrives, you will reconcile the statement with QuickBooks (you will find that option again under Banking). At the end of the reconciliation process, QuickBooks will give you the option to write a check or enter a bill to pay later.
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