Home – New Forums Money matters Bank rec… +credit card too? Reply To: Bank rec… +credit card too?

  • Total posts: 41

Have a look at your tax return questions and see what items need to be itemised seperately. If everything on your credit card goes into the “Other Expenses” bucket, then itemise nothing, and put a single entry into your accounts to match the credit card payment.

If not, then you got to figure out a way to itemise what you need to. If it is lots of transactions like 30, but only 3 categories, I would enter 3 transactions into the business account.

Many banks online banking can do pretty reports and graphs of your bank account spending. You could use that to your advantage too, keeping a seperate spreadsheet is double handling and unnecessary.

Another option if you use different banks is to set up ANZMoneyManager (.com.au) its brilliant. I do my entire budgeting and tax with this, and I never look at bank statements anymore.