How to account for credit card purchase with both a cc account and "central bill account"
GLOPLLC
Member Posts: 1
My business credit card account (with US Bank) is accompanied by a "central bill account" that, for my solo business, essentially acts a the sole sub account of the central bill account.
My question is what bookkeeping transactions do I need to account for a credit card purchase?
My downloaded transactions resulting from a credit card purchase include both a debit to the credit card account and a debit to the central bill account in the same amount.
Later when I make a payment to the central bill account (to pay off the credit card for multiple purchases) the transaction I see is a credit to the central bill account.
How do I categorize these transactions?
Thank you!
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