How to Manage A Business Credit Card Account In GnuCash

It is not uncommon to use a credit card for some of your business transactions after all a credit card account is like a short-term loan that comes in handy when you have a business, but then you .eventually have to pay back the money, often with interest.

Credit card transactions are a liability because it is money you owe. In GnuCash The purchases you make with a credit card are classified as expenses.

You have a couple of options when entering credit card transactions. The simplest method is to only track monthly payments to the credit card company.

This method only requires you have a checking account, a credit card liability account, and a credit card expense account.

The obvious limitation of this simple credit card setup is that you cannot see where your money is going. And since you are tracking business expenses you want to be as transparent as possible, when it comes down to your business expenses. If not for yourself for tax purposes.

In the following tutorial, you will learn how to manage a credit card account in GnuCash to keep track of all your business credit card expenditures.