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Credit Card

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 September 2010 I want to know about Credit Card.
1.Credit card is an Expenses or assets or liabilities or another.
2.how we can book journal entry in the accounting book.
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sudhakar ca cwa

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sudhakar ca cwa (Expert)
20 September 2010 it is lke a bank a/c (Liablities side)

journal entries were based on nature of transactions
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
20 September 2010 Credit card is the liability

while incurring expenses

Dr: Expenses
Cr: Credit card liability
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