1. Cr. Credit Card, Visa $100 Dr. Purchases $100
When I pay credit card liability
2. Cr. Bank $100 Dr. Credit Card, Visa $100
My question is where is the proper place to set up the credit card account? Is it under current liabilities? And what is it called usually? Just Credit Card - Visa?
I am using an older accounting software so it doesn't automatically let you choose "pay by credit card", so I have to set this up myself.
Thanks for any advice.