One Reply to “How do I account for Credit Card Merchant account in Tally or other accounting software?”

  1. If your are asking about the accounting entries, the rules are given below for your reference.

    Rule 1
    Debit what comes in. Credit what goes out
    Rule 2
    Debit the Expenses. Credit the Income
    Rule 3
    Debit the Receiver. Credit the Giver.

    A sample entry is given below for payment for XYZ expenses using credit card:-
    Dr XYZ expenses Rs 5000
    Cr Credit Card a/c Rs 5000

    Next, when you make payment (or deposit cheque in your Credit card a/c), the entry would be:-

    Dr Credit Card a/c Rs 5000
    Cr Your Bank a/c Rs 5000

    Remarks:-
    1) XYZ expenses ledger to be opened under group “Expenses Indirect”
    2) Credit card a/c to be opened under group “Bank OCC a/c”
    3) Your Bank a/c to be opened under group “Bank a/c”

    For Tally Integration using RTSlink DLL, visit http://www.rtslink.com and sample programs visit http://rtslink.blogspot.com





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