Quick introduction, I'm new to sage and the company I work at wanted to transfer all of our accounts from Excel to Sage 50 Accounts. I only have basic experience with Sage, but I have been learning as I go along, so please be patient with me.
The problem I face is in sage I don't know what to do with the credit card. Usually we record the expenses paid using the credit card in Excel, then at the end of each month we pay the credit card with our Bank current account. All of this is recorded in Excel.
What I thought I can do is; record expenses paid with credit card in sage with the correct Nominal Codes, this will cause the card to go in minus figures, and then when the time comes to pay for the credit card, I can use the bank transfer method (as you can't do bank payment method to other bank accounts in sage) in sage to bring the credit card back to 0. That way it will show the expenses were paid using the credit card and the credit card was paid using the bank current account.
Will this be a suitable way of presenting our accounts?
Thank you in advance.