Best way to record a credit card bill or record credit card payment in Bullet

Hi there

Just wondering what the best way to record a credit card bill/ record credit card payment in Bullet is – just as a normal “Bill/Expense” ? If so should I record it as one bill or should I enter each individual charge on the credit card statement ?


2 answers

Peter Connor Staff March 7, 2014

Hi Donal,

That’s a good question and you hit a UI problem with came upon in Bullet. Technically it’s a transfer of money from one account (bank account) to another (credit card).
So, the items on your credit card statement are bills, travel, car rental etc. But the credit card ‘Bill’, is actually a statement of individual bills, so what you’re doing is actually a bank transfer, you’re moving money from your current bank account to you credit card account. 
Fortunately, in Bullet we like our customers so we created the process to work like you’re just paying a bill as everyone calls it a credit card bill, and we handle all the crazy stuff in the background.
So before you do it you’ll need to have your bank account setup and your credit card, you can do that in 30 seconds by going to ‘My Company/Bank Accounts‘ 
Here is a little movie to show you how easy we made it. 
Hope that clears it up.
How To Pay A Credit Card Bill In Bullet Free Online Accounting

Peter Connor Staff July 3, 2014

Hi Richard,
For the moment you’re going to have to ignore it, let me explain. 
So your bank account should always reconcile with your accounts in Bullet. The problem is we’ve designed Bullet to be pretty strict on this. There is a lot of hearsay in accounts, and miss information. All revenue care about is that your books match your bank account. Bullets designed to make this happen with out you having to think.
What’s happening is when you pay your credit card people think of it as a bill, but actually it’s a bank transfer. So we built the UI to capture this, the problem is it hits your bank account like a bill. So when you run the bank rec Bullet is forcing you to match the payment in your bank account with a bill in Bullet, but that bill doesn’t exist because it’s not a bill it’s a bank transfer. 
We’ve put this fix in for development, for the moment you can just ignore it. It won’t have any impact on your accounts or compliance as it’s already accounted for in the bank transfer. It’s just an anomaly in the way credit cards work. 
Sorry with the delay with this, but I just wanted to give you a solid answer. 


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