You can set up credit cards for entering statements and making payments. A unique Accounts Payable account is required for each credit card.
For each credit card, you need a unique current liabilities account linked to category Accounts Payable-trade.
Click Add to set up a credit card linked to an available Accounts Payable account.
Click Add to enter a new credit card and enter the following information:
A/P Account. For each credit card, you will need a unique Accounts Payable account assigned to category "Accounts Payable." This account will create the offsetting liability when you enter credit card activity. If no available account is found, you will be prompted to add one.
Card Name. Enter this descriptive information.
Card Number. Required if you are downloading credit card data electronically from your bank. This must be the same valid credit card number you are using the charge the purchases. Optionally, you can enter only the last four actual digits from the card and fill the remaining positions with X's, as in XXXXXXXXXXXX1234. After the card number is entered, the first twelve positions appear masked on screen.
Service Charge Account. Select an expense account for credit card charges.
Primary card if using multiple cards . . . . Designate the credit card you most use for making credit card payments.
Click Save to save your account, or Cancel to abandon an entry in progress.
Select a credit card from the Select drop-down list for review or editing.
To edit information for a saved credit card, select it from the list.