ledgers&their group

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rajesh

rajesh (Querist)
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26 October 2010 what should be the group of credit cards

Thrissurkkaran Ishtan

Thrissurkkaran Ishtan (Expert)
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26 October 2010 It should be under Sundry Debtors if you are a company accepting credit cards from customers.

It should Sundry creditors, if your company has to pay against usage like the cards given to managers.

You can create a sub-group under main group to keep a track.

CS ,CMA Shambhu Kr. jha

CS ,CMA Shambhu Kr. jha (Expert)
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26 October 2010
For that there are two process credit card provider bank will be under creditors under current liability and what ever we purchasing by using that credit card will be posted in there respective ledgeras per the nature of transaction

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