What is the best way to record a payment to a credit card?

A. Use the Transfer feature to move the transaction from the bank account to the credit card account.
B. Record the credit card statement as a bill and then record the payment as a bill payment.
C. Use the Pay down a credit card feature to record moving funds from the bank account to the credit card account.
D. Record the payment directly as income to balance the credit card account.

The best way to record a payment to a credit card is by recording the credit card statement as a bill and then processing the payment as a bill payment. This method helps in accurate tracking and effective management of credit card liabilities. Alternatives like recording directly as income should be avoided as they misrepresent the financial activity. ;

Answered by GinnyAnswer | 2025-07-07

The best method to record a payment to a credit card is to record the credit card statement as a bill and then process the payment as a bill payment (Option B). This approach ensures accurate tracking and management of credit card liabilities. Alternative methods may not correctly represent financial activity or liabilities.
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Answered by Anonymous | 2025-07-11