I like to set up a credit card payable account as a 'bank'.  Then, when I pay various items using the credit card, the entry through Accounts Payable is just 'this invoice was paid using the "bank of credit card".  I believe you can also turn on reconciliations for the 'bank of credit card' account, and reconcile just like any other bank account.

thanks C White. how to record the expense? I am new to this, if you can give specifics that would be great. surely I don't record each restaurant as a vendor? LOL

thanks

Once you have set up the Credit Card Payable account for each credit card (I like to separate them),  You also need an Expense acct.  I use Credit Card Charges.  I classify them as Credit Card Payable.  Then set up under Company/Credit Cards/Used and also for Accepted (if needed) using your liability and expense accounts created.

When an invoice comes in paid by credit card:  1. Select payable company, eg. Telus Mobility which is set up as a Telephone Expense.  Create invoice for payment.  To pay invoice, select from Payment Method dropdown your Credit Card you set up.  It should be listed with Cash, Cheque, etc.  Hope this helps.

thank you that is very helpful. in the case of telus this may be a monthly expense. but if i have a dozen parking expenses and several restaurant charges in that month, do you suggest i create an invoice for each company? or is there a quicker way? thank you

Say, you have five $5 charges for the same supplier each month on your credit card.  I suggest doing five separate invoice entries if you are going to use the Reconciliation module.  The expenses will reconcile themselves as separate entities and connect.  If you are manually reconciling, you can do $25 as one entry and remember you did that.  Your call.

Also, I would separate the restaurant expenses but I collectively call them Meals & Entertainment (created vendor) rather than a dozen different restaurants.  Remember, in Canada, tips are not taxable.

okay that makes sense. so you create a vendor in the payable journal which you name as meals and entertainment. I guess i can do the same for parking. thank you so much!

You're welcome...