How do I set up a credit card to auto-import? | lessaccounting

How do I set up a credit card to auto-import?

You can set up your business credit cards to auto-import into LessAccounting just as you do with your bank accounts.

  1. Click "Settings" in the top navigation. You should automatically be directed to your Financial Accounts page.
  2. Click the link to "Create a financial account"
  3. Search for your credit card company (ie, American Express). If it's a bank-issued credit card, you may want to search for the bank name and see if there is a search result that includes "Credit Card" in the name.
  4. Follow the prompts to enter your bank credentials and save your new account.
  5. Once saved, click the Configure button next to the new account. Select "Mark this as a credit card account" and checkmark the option "This is a credit card account"
  6. Why do I have to mark it as a credit card account? Two reasons: 1) Credit cards are liability accounts and marking them as such will ensure they are properly recorded on your reports such as your Balance Sheet. 2) Credit card balances are often shown as positive numbers on your statements, but they really ought to be negative because it is money owed. Marking an account as a credit card account will make the balance negative and ensure your balances are correct.