Manage your Credit Card Accountadmin
You can enter or update information about credit card transactions. You can also record bank transactions to a credit card.
What you Need to Know
- You can set up a credit card as a bank account in Clickentry.
- The credit card account is treated as an asset because it is set up in Clickentry as a bank account.
- You must have the user role of the adviser or standard user to manage a credit card bank account.
Set up Your Credit Card Account
- Add a credit card account (Link).
- If you are using an existing credit card for a new Clickentry organization then you have to enter the opening balance for the credit card. You need to make sure that you are entering it as a credit balance in the conversion balance screen so that it can be shown as money owed.
In case you are using a new credit card in an existing Clickentry organization then you need not add any conversion balance as a new credit card starts with a zero balance.
- In order to receive your credit card transaction directly into the account, you need to set up a bank feed in Clickentry. In case, a bank feed is not available, you have to import your statements manually.
- While importing your credit card transaction manually in Clickentry, make sure you are showing purchases as a negative number and the credit card payment as a positive number on the import file. If you manually import your credit card transactions into Xero, make sure the purchases are shown as negative numbers and the credit card payments are shown as positive numbers on your import file.
When you are setting up a replacement credit card then you need to create a transfer money transaction(Link) so that remaining balance can be transferred from your old credit card to your new one.