The Credit Card Statement Template, similar to the bank statement, is designed to document credit card transactions. This involves capturing details such as the date, description, charge amount, payment amount, and the ending balance for each statement.
Follow the step-by-step instructions to complete the Migration Credit Card Register Template for accurate sales records.
Credit Card Register (as extracted from the Bank Portal)
| S.no | Date | Description | Purchase debit | Payment Credit | Balance |
| 1 | 05-12-2023 | Buc-ee's | $ 100 | $ 600 | |
| 2 | 10-12-2023 | Starbucks | $ 80 | $ 680 | |
| 3 | 15-12-2023 | Payment received | $ 500 | $ 180 |
Details of Transactions:
1) Petrol purchased at Buc-ee's - Gas & Fuel
2) Coffee expenses at Starbucks - Meals & Entertainment
3) Payment made to the Credit card - Credit card Payable
Here is the Sample Migration Credit Card Register updated based on the above Credit Card Statement:
| Fields | Description |
| Name of the Bank | Bank Name |
| Card Account Number | Credit Card number |
| Credit Statement - format | CSV or PDF |
| Date | The Date of Transaction |
| Description | Name of the shop/Store |
| Purchase Debit | The amount you spent on your credit card |
| Payment Credit | The amount that you have remitted to your card |
| Opening Balance | Previous Month Due |
| Closing Balance | Next Month Due |
Let's break down the Migration Credit Card Register Template Fields and Corresponding Information:
Name of the Bank: This field requires you to specify the name of the bank associated with the credit card account.
Card Account Number: Input the unique identification number assigned to your credit card account.
Date: Enter the date on which each credit card transaction occurred.
Description: Provide a brief description or name of the shop or store where the credit card transaction took place.
Purchase Debit: Specify the amount spent using the credit card for a particular transaction. This represents the debit side of the transaction.
Payment Credit: Indicate the amount paid towards the credit card, representing the credit side of the transaction.
Opening Balance: Reflects the outstanding balance from the previous month, considering any unpaid amount.
Closing Balance: Represents the anticipated balance for the next month, considering the current month's transactions and payments.
Example Transaction 1:
Petrol purchased at Buc-ee's - Gas & Fuel
| S.No | Date | Description | Purchase Debit | Payment Credit | Balance |
| 1 | 05-12-2023 | Buc-ee's | $ 100 | $ 600 |
Here is the Sample Migration Credit Card Register updated based on the above Credit Card Statement.
Example Transaction 2:
Coffee expenses at Starbucks - Meals & Entertainment
| S.No | Date | Description | Purchase Debit | Payment Credit | Balance |
| 2 | 10-12-2023 | Starbucks | $ 80 | $ 680 |
Here is the Sample Migration Credit Card Register updated based on the above Credit Card Statement.
Example Transaction 3:
Payment made to the Credit card - Credit card Payable
| S.No | Date | Description | Purchase Debit | Payment Credit | Payment Credit |
| 3 | 15-12-2023 | Payment received | $ 500 | $ 180 |
Here is the Sample Migration Credit Card Register updated based on the above Credit Card Statement.
Note: Mandatory fields, denoted by an asterisk (*) in the Credit Card Statement, are crucial for the migration process. Map these highlighted fields into the Credit Card Register Template for a smooth migration.
Frequently Asked Question
1) How do we display partial payments made to a credit card in the credit template: through a single transaction or multiple transactions?
Each payment must be shown separately in the credit card template.
2) How do I display credit card transactions in the credit card template when using two credit cards?
You can update the transaction in the credit card template separately for each card.
3) Do we need to update if there is no transaction related to the credit card?
If there is no transaction, there is no need to update the credit card template.
4) Do we need to fill in the bill reference details for any payment made on the credit card?
Yes, you need to provide the bill reference details in the credit card template.
If you encounter any challenges, feel free to reach out to us at migration-support@saasant.com.