1. Record the Payment
- First, you must record the payment from your bank account and send it to your credit card.
- Go to Accounting > Transactions.
- Click on the Add Expense button.
- Choose the bank account from which the payment was made in the Account field.
- Enter the amount paid under the Amount field.
- In the Category field, select Credit Card Payment or Transfer to Credit Card (the exact label may vary).
- Enter the date of the transaction.
- Add a description if necessary.
2. Categorize the Expense
- Once the payment is recorded, categorize the expense properly:
- Transaction Type: Mark the transaction as an expense since it's a cash outflow.
- Account: Select the bank account that was used to make the payment.
- Category: Use a category that represents the credit card account, such as Credit Card Payment or Credit Card Transfer.
- Payee: Optionally, you can add the credit card company's name.
3. Reconcile the Credit Card Account
- After recording the payment, ensure that the credit card account reflects the correct balance:
- Go to Accounting > Transactions.
- Filter by the credit card account.
- Verify that all transactions, including purchases and payments, are accurately recorded.
