[GNC] Credit Card entries

[David Cousens]

Courtey

One critical bit of information. A bank prepares your credit card
statement from their position where your account is an asset to them
whereas for you the credit card is a liability. This means that debits
and credits are reversed in your books wrt to the use of debits and
credits as used by the bank.  The bank statement's debits are credits
in your books and vice versa.

David Cousens

On Thu, 2024-12-12 at 19:05 +0000, Courtney Perry via gnucash-user
wrote:
> What is the correct entry procedures for recording card transactions
> from the monthly statement?
> For: 1. Online Purchases made2. Expenses3. Deposit to Credit Card 4.
> Online Transfers to Credit Card 5. Late Payment fees6. Interest
> Charge
> Thank you.Courtney 
> 
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