Hi, I do not have an accounting background and would be most grateful for advice with the following issue.
I have a credit card that is used for purchases, and linked to my bank at which I have my bank account. Each month when a payment is made from the bank account into the credit card account the bank feed shows a deposit into the credit card account, and a withdrawal from the bank account. These then have to be allocated, and I am confused as to how to allocate both transactions.
Any suggestions would be most welcome.
Thanks