Payment On A Charge Account

 

To make a payment on a Charge Account or Credit Card go to LIABILITIES/PAYMENT ON CHARGE ACCOUNT. You'll get the following form -

 

This will create the following split entry in the Income & Expense section -

 

and the split would be -

 

This applies the Principal to the balance on the account as a Payable and Expenses the Interest. The form will ask you for the interest for this type of account. Get the interest from the statement or bill you received from the bank or lender.