> For the complete documentation index, see [llms.txt](https://tribalfs.gitbook.io/accountant/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://tribalfs.gitbook.io/accountant/planning/credit-cards.md).
# Credit cards
Track statements, minimum payments and due dates, and record card payments.
**What you'll do:** turn on payment tracking for a credit card, so Accountant shows what's due and when, reminds you, and records payments correctly.
## Before you start
You need an active **Liability** account in the **Credit card** category, with its current balance as the opening balance. See [Setting up accounts](/accountant/accounts/setting-up-accounts.md). Record card purchases with **Buy on credit**.
## Set up payment tracking
1. Open the card account: **Accounts › Liabilities**, then tap the card.
2. Tap **Payment settings**.
3. Tap **Set up payments** (*"Keep track of card payments"*). This turns on **Manage card payments**.
4. Enter the **Card ending in**: *"Last 4 digits, to match receipts and bank alerts to this card."* It's kept even if you turn tracking off.
5. Under **Billing schedule**, set:
* **Statement closing day:** the day your statement is cut. For shorter months, the last day of the month is used.
* **Payment due date:** a **Fixed monthly day**, or a number of **Days after closing**.
* **Minimum payment:** your issuer's rule, as a percentage of the statement balance and a minimum amount. The app uses whichever is higher, up to the statement balance.
6. Under **Payment preferences**, optionally set the **Default payment account** and the **Credit limit**, which is used to show available credit.
7. Under **Interest and fees**, optionally set the card's **Interest rate** and **Late fee**. See [Interest and late fees](#interest-and-late-fees).
8. Under **Payment reminders**, turn on **Remind me** and choose **When to remind me**.
9. Go back and tap **Save** on the account. *"Changes are saved when you save the account."*
If the account editor shows **Payment settings (setup required)**, tracking is on but the minimum payment rule is missing. Tap it to finish.
Payment settings for a card
{% hint style="info" %}
Changes to billing rules apply after the current open cycle. Your first statement appears after the next closing date (*"Waiting for your first statement"*).
{% endhint %}
## See what's due
The card's [transactions screen](/accountant/accounts/account-transactions.md) shows a line about the latest statement at the top, for example *"$8,000.00 due Dec 1, 2026 · Minimum $500.00"*, *"$8,000.00 due in 3 days"* or *"Statement paid · Next statement Dec 10, 2026"*. Tap it to open **Payment management**.
For the full picture, open the card account and tap **View statements and payments**, or use **⋮ › Payment management** on its transactions screen. **Payment management** shows:
* the latest statement's closing date, **Statement balance remaining** and due date. When payments or refunds have changed it, *"Original statement balance: ₱X"* appears under it.
* the minimum payment status: **Minimum payment overdue**, **Minimum paid; statement balance remains** or **Paid in full**, with what's left of the minimum (*"Estimated minimum left: ₱X"*)
* the statement's figures: **Original statement balance**, **Estimated interest**, **Late fee** and **Past due**
* **Payments and credits since closing**, with their total. Tap it to see the **Payments** and the **Refunds and adjustments**.
* **Current card balance** and **Available credit**
With an interest rate set, it also tells you what paying now saves, for example *"Paying it in full now saves about ₱X in interest."*
Tap **View more** at the bottom for:
* **Payment plans**: your installment and pay-later purchases (see below)
* **Statement history**: earlier statements
* **Interest and fees**: the card's interest rate and late fee
Payment management for a card
The **Credit cards** widget on Home shows all tracked cards, the next payment due, and a **Pay** button. See [Home dashboard](/accountant/reports-and-home/home-dashboard.md).
### The statement, line by line
Tap **Original statement balance** to see how the statement adds up: **Previous balance**, **Payments**, **Refunds and adjustments**, **Purchases and charges**, **Payment plans** and **Interest and fees**, then each transaction with the running balance. Installments show which part they are, such as *"Installment 3 of 6"*.
The minimum is listed at the end, as the **Estimated minimum**, or the **Issuer minimum** once you've corrected it.
## Pay the card
1. In **Payment management**, tap **Record payment** (to pay now) or **Schedule payment** (for a later date).
2. Choose **Full remaining balance**, **Remaining minimum**, or **Custom amount**. **Custom amount** has a calculator.
3. Continue to the transaction editor. Check the paying account and date, then save.
The payment reduces the card balance. It isn't an expense, because the purchases were already recorded as expenses when you made them. A card in another currency is paid in its own currency.
{% hint style="warning" %}
**A scheduled payment records a ledger entry; it doesn't transfer money at your bank.** Pay your issuer as usual.
{% endhint %}
## Installments and pay later
Bought something on an installment plan, or deferred its billing? Record it once, and the app bills it on the right statements.
1. Record the purchase with **Buy on credit**, using the card as the account, and enter the full price.
2. Tap **Payment plan**. On a card without payment tracking it reads *"Set up card payments to use"*.
3. Turn on what applies:
* **Pay in installments:** enter the number of **Months**. The **Monthly amount** fills in; change it if your issuer's figure is higher because of interest. *"No interest. Each statement bills ₱2,500.00."* With interest, the extra is posted on each statement to an **Expense account**, such as *Installment interest* in *Finance charges*.
* **Pay later:** choose the **Months to defer** from a list of statements, such as *"2 months · Jan 1, 2027 statement"*, and an optional **One-time fee**, posted to an expense account such as *Pay later fees*.
4. Tap **Apply**, then **Save**.
You can combine both: a purchase deferred for 2 months, then billed over 3, reads *"3 months · ₱1,000.00/month · from Mar 1, 2027"*. The **Payment plan** row shows the plan you chose, such as *"12 months · ₱1,000.00/month"*. To drop the plan, open it and tap **Remove**.
The whole price is recorded on the purchase date, because that's when you owe it. Only each statement's share counts toward that statement and its minimum payment. No interest is charged while billing is deferred.
**Payment management › View more › Payment plans** lists them under **Payment plans on this statement** and **Not yet billed**, for example *"3 of 12 billed · ₱22,500.00 unbilled"*. Tap one, then **Open purchase** or **Pay off early** to bill the rest on the next statement.
## Interest and late fees
Set the card's terms in **Payment settings** or **Payment management › View more › Interest and fees**:
* **Interest rate:** a percentage **A month** or **A year**. Under **Daily interest**, choose a **360-day year** or **365-day year**, as your issuer does. Turn on **New purchases accrue from the next statement** if your issuer charges interest on new purchases only from then.
* **Late fee:** the fee your issuer charges when the minimum isn't paid on time.
*"Interest is usually charged on purchases if you don't pay your statement balance in full by the due date. Terms vary by issuer."* After the due date, the card shows *"Interest so far: ₱X, about ₱Y by the next statement"*.
**Drafts for review:** when a statement closes, the app adds drafts for its estimated interest (*"Interest, ‹date› statement"*) and, if the previous minimum was missed, the late fee (*"Late fee, ‹date› statement"*). Check them against your issuer's statement in **Drafts**, then post them. The first time, choose the expense account, such as one in *Finance charges*; later drafts use the same one. Until they're posted, the statement notes *"₱X in interest and fee drafts is added once they're posted."* See [Templates, drafts and Trash](/accountant/transactions/templates-drafts-trash.md).
**A missed minimum carries over:** if the minimum isn't paid by the next closing date, the unpaid part becomes the next statement's **Past due** and is added to its minimum. The card stays overdue until it's paid.
## When the numbers don't match your statement
Statements are calculated from your recorded transactions: *"Based on recorded transactions. Check against your issuer's statement."*
* If a purchase or refund is missing, record it, and the statement updates.
* If your issuer's minimum or due date differs, tap **Original statement balance**, then **Correct minimum or due date**. If the statement has a past due amount, enter the issuer's total: *"Enter the total, including ₱X past due."*
* To check every transaction against the issuer's statement, use [Reconcile](/accountant/accounts/account-transactions.md#reconcile).
## Turn tracking off
In **Payment settings**, turn off **Manage card payments**. From Payment management, this saves at once: *"Payment settings saved"*, with **Undo**. From the account editor, tap **Save** on the account. Your statement and payment history is kept, and so is the card ending.
