How do I set up a credit card account?

Search:

How do I set up a credit card account?

Microsoft Money’s account register works well for tracking credit card transactions and balances. Conveniently, the steps you take to record credit card activity using Money closely resemble the steps you take to record banking activity. In fact, if you have already been using Money to track a bank account, you will have little difficulty using Money for a credit card account no matter whether you're using a credit card for personal spending or small business spending.

You may not need to use Money for tracking a credit card. You only need to use Money for credit-card record keeping if it is important to you to track your credit card balance and to track what you spend or charge at various merchants. This might seem like something everybody would want to do, but if you always pay off your credit card balance at the end of each month and don’t need to be concerned about your balance between payments, you won’t need to track the outstanding balance. And if you don’t care where you charge, there’s no compelling reason for you to track individual credit card transactions.

Note: If you use Money to track a business credit card and you're organized as a C corporation, an S corporation, a partnership, or a limited liability company that's treated as a C corporation, an S corporation or a partnership, you may need to track credit balances if you include balance sheets with your corporation or partnership tax return.

Setting up a credit card account

If you decide to set up a credit card account, you can easily do so.
If you used the Setup Assistant to prepare for using Money, you may have already set up a credit card account. Money, during the setup process, would have asked you about credit card accounts that you hold and whether you want to set them up for record keeping. If you answered questions about your credit cards during the setup process, you’ve already set up credit card accounts and can begin using them.
If you didn’t set up credit card accounts as part of the Money setup process, you can easily do so by following these steps:

1. Display the Pick An Account To Use window.
Click the Accounts & Bills link, and then select Account List. Money displays the Pick An Account To Use window.

2. Indicate that you want to set up a new account.
Click Set Up Your Accounts in the list of common tasks.
3. Follow the New Account Wizard’s instructions.
To set up a new account, click Add A New Account to start the New Account
Wizard. To set up your account, simply answer the wizard’s questions.
NOTE You need to set up a separate credit card account for each credit card you want to track using Money.

Article Source: http://articlenexus.com

Stephen Nelson is the author of do it yourself kits for Incorporating in Maryland, Maryland S corporation, and Maryland limited liability company.

Please Rate this Article

Not yet Rated

Click the XML Icon Above to Receive Accounting Articles Via RSS!

Additional Articles From - Home | Accounting

	Print This Article
	Add To Favorites
	Email to Friends
	Ezine Ready

Submit Articles
Member Login
Top Authors
Most Popular Articles
Submission Guidelines
Ezine Notifications
Article RSS Feeds

(Your 160x160 ad here)
Only $50 a month-click here

Everything you need for your website and home business.
	Adsense Site Builder
	Adsense Analyzer Software
	Clip Art
	Domain Names
	Header Graphics
	Internet Business Info
	Photo Art
	SEO Software
	Web Hosting $4.95/mo
	Website Templates
	Web Site Promotion Tools
AdvancedWebsiteTools.com

Link Exchange
Blog by WordPress
Privacy Policy
Terms of Service
About Us
Contact Us
Banner Advertisements

Have you Victimized by a Business or the Government? File your consumer complaints or business complaints at BusinessReporter.net!

Structured Settlement?
Free information to help you learn more about structured settlements, your rights, and how to select the best company for you.

Affordable Discount Dental Plans
Choose from over 30 top-quality national and regional discount dental plans. Save 10% to 60% on most dental procedures

Hair Loss Remedies

Remove Bad Credit
Legally Erase Bad Credit and Improve Your Credit Rating
with Self Help Credit Repair
Do It Yourself Credit Repair

Free Diabetic Supplies

Antique Radios | Ham Radios