Results 1 to 2 of 2

Thread: Credit Card

  1. #1
    New Member
    Join Date
    Jan 2016
    Location
    South Africa
    Posts
    3
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Credit Card

    I dont understand how u suppose to capture a bank recon of a credit card on pastel

  2. #2
    Platinum Member Mike C's Avatar
    Join Date
    Apr 2012
    Location
    Durban
    Posts
    2,242
    Thanks
    207
    Thanked 310 Times in 268 Posts
    Hi noma_sego12. There are two ways of doing it.

    The first is to wait until the amount comes off your bank statement, and then enter the various items for the Credit card into your Cash Book using the same reference number, but allocating them to the various journals. Remember to enter the sms charges and any other charges (interest or monthly card charges) that all go to making up the amount taken from your bank statement.

    The other way is to open a Cash Book called "Credit Card" and enter the items as they are bought. Then reconcile this Cash Book at the end of the month to your Credit Card Total rather than the total that comes off your Bank Statement. This is a bit more difficult because the Credit Card amount is only taken out of your Bank Statement a month later and so it does not match nicely each month.
    An education isn't how much you have committed to memory, or even how much you know. It's being able to differentiate between what you do know and what you don't. - Anatole France

Similar Threads

  1. Credit Card
    By noma_Sego12 in forum Accounting Forum
    Replies: 1
    Last Post: 18-Jan-16, 04:35 PM
  2. I need to know this - about credit card!
    By jimmiemenon in forum Accounting Forum
    Replies: 6
    Last Post: 30-Jul-14, 01:03 PM
  3. credit card
    By murdock in forum Scam Alert Forum
    Replies: 16
    Last Post: 22-Nov-12, 09:31 AM
  4. want a credit card
    By murdock in forum General Chat Forum
    Replies: 3
    Last Post: 21-Jul-11, 03:13 PM
  5. SAA credit card.
    By Dave A in forum Business Finance Forum
    Replies: 3
    Last Post: 14-May-07, 10:57 AM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •