Credit Cards and Transactions

Records to record Credit Card Transactions 

Credit cards also record income and payment. These are reflected in a credit card statement which is sent to you by your credit card supplier. Many people today use their credit card for business purposes so credit cards have become an important part of the recording system of a business. There is no problem having business as well as personal transactions going through your credit card. What is required at any particular time is for you to extract the items which are business related and the details of the transactions will form part of the business financial records.

 

The main thing to do with your credit card recording system is to retain all credit card statements as they are received so you can refer to them as required. When you receive your credit card statement it is a good idea to reconcile it with the various dockets received from the credit card transactions. Many people have found that their credit card contains transactions which have been incorrectly charged to them. You will not know whether all the charges recorded against