Credit/Debit Card question

[Kelly]

If I make a purchase with my debit card an want to enter it into Accounting
2007, do I go to Banks -> Credit Card Charge?

I don't have a credit card, but I do have a debit card - are they the same
thing in the accounting program?

Are vendors considered the companies that I purchase items from such as
Wal-Mart, Borders, Target, etc?

Any help is greatly appreciated - thanks in advance!!

 

[EFranklin]

Go to your bank account register, click new transaction, write check, enter
information. Please note that with debit card transactions, you should give
the transaction a check #, somthing like DC102607, to reflect debit card
10/26/07 for ease of identification.

 

[rgcg]

I disagree here. The best way to use a debit card is to enter as a credit
card entry with the account as your checking account. We have been doing
this for quite a few years and it seems to work best. Otherwise you have to
make up some random number everytime you use a debit. For instance if you
made two debits on 10/26 you could not use the example below.

Also in principal a debit card tied to a checking account is no different
than a credit card tied to that account.

rgcg