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Thread: tax report and credit card

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    tax report and credit card

    Hi, I would like to find out, I'm using Pastel xpress v14, I need to know how to process credit card statement, must I start from the journal or straight to cash book, if is journal under which 'entry type', and if is cashbook also under the main account or must I just create account/ bank for credit card?

    and on tax report, i need to pull tax report from cb payment and receipts, kindly help.

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    Full Member EAB's Avatar
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    It depends on the amount of transactions and your preference. If there is a small amount of transactions you could use journals.

    I would rather use the cashbooks. You will have to create a account for the credit card and then on your entry types link the cashbook to your credit card account. Then you process the credit card the same way as the normal bank account.

    On thing to remember is for the credit card payments from the normal bank account, don't enter them as receipts in the credit card cashbook, because they are captured in the normal bank account as a payment to the credit card. If you capture it as a receipt then the transaction will be duplicated.

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