Company Credit Card
Record card purchases as expenses and the card bill payment as a transfer, without counting twice.
A company credit card works in two steps: each purchase is an expense, and paying the card bill is only a transfer. Recording the bill payment as an expense would count your spending twice.
Set it up
- Connect the card through Bank Accounts > Connect account, the same way as a bank (see First Steps). Cards from banks such as Mercury appear as a separate account, for example Mercury Credit.
- The card's balance shows what you owe. It appears on the Balance Sheet under Liabilities (Credit Cards Payable).
Each month
- Categorize each card purchase as its real expense, such as Software & Subscriptions or Travel Expenses.
- Treat the bill payment as a transfer. When you pay the card from your checking account, Fynance pairs the payment leaving checking with the payment arriving on the card. Check it on the Transfers tab.
- If the card account is not connected, the payment cannot be paired. Connect the card, or ask support how to record it.
At the end of the month, the card balance In Fynance should match the balance on your card statement.