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2 Responses to “What Category Does A Credit Card Loan Go To When The Debit Is For Equipment For Your Business?”

1. GordShum says:

   May 8, 2009 at 1:30 pm

   Are you using an accounting software package? Your question suggests that you are. If so, there is actually an account type for credit cards. You need to create a new account for that card. You will also need to set the credit card company up as a vendor.
   Charges to the credit card would initially be booked either to an expense account or a capital account. Then when you start paying off the card, you book everything other than the interest expense to the credit card account.
2. Ern says:

   May 8, 2009 at 1:30 pm

   In my personal business, two things happen. We have surveying crews and we have the equipment they use. I started an LLC for the equipment alone. I then rent the equipment to my company through the LLC. That way if the company gets sued my equipment is safe and vice versa.
   Hope this helps.