Originally Posted by mtdman
I have a question for the qb guys. How do you keep track of things like credit card purchases and things you pay for in cash, etc? I use qb for most of my accounting, but there are always things I buy with cash, and the gas card I have that I have to account for. Not really sure how to reconcile that stuff.
For cash purchases, I was told to create an account of type 'equity' and named it contributed capital. From there, make journal entries for each cash transaction.
As for credit card purchases, you need to create an account of type 'credit card' as stated in the previous post.
Shoot away if you have more questions.