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I just started using Agexpert, we do a lot of purchases on our corporate credit card and would like to know how to enter a credit card purchase in order to conciliate the credit card statement at the end of the month?
Hi Chantal, You'll want to set up your corporate credit card as a "Credit Card" type account under Liabilities in your chart of accounts. Once that's done then you'll be able to enter transactions against it just like you do your bank account. This will allow you to then reconcile it each month.
Once you've signed into your account, select Chart of Accounts from the left hand navigation panel and then select Liability from the drop down selector in the top left hand corner. You should then see a button that says Add a liability account. Click on that to add your new account making sure to select "Credit Card" as the account type. Alternatively, there may already be an account labeled Credit Card in your Liability accounts list. If you are not already using that, then you can edit it to change the name to more accurately reflect your credit card. Mine is named BMO Mastercard.
If you need someone to walk you through any of that, please call us at 1-800-667-7893 and we'll be happy to help.