ASI SmartBooks allows you to reconcile credit cards in the same manner as bank accounts
with some minor differences. Reconciling should be done when the credit card statement is
received. This is a separate procedure from recording the amount owed to the credit card
company based on the statement balance.
Once the credit card statement has been reconciled, determine how much of the
balance is going to be paid through the bank account, enter this amount as a
bill new transaction and apply that amount to the ledger account associated
with this credit card.
Keep these differences in mind when reconciling credit cards in ASI SmartBooks.
Make sure to keep the process of reconciling the statement and the process of
recording the amount of the credit card payment separate. This will help keep
both processes cleaner and easier to understand.