Credit Card Payment Received from Cardholder
Cardholder makes a full payment of their monthly credit card statement balance.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash / Customer Bank Account (Debit) | Asset/Liability (−) | 1,500.00 | - |
| Credit Card Receivable (Cardholder) | Asset (−) | - | 1,500.00 |
💡 Accountant's Note
Full payment clears the credit card balance. No interest is charged if payment is received within the grace period. The payment reduces both the outstanding balance and the bank's exposure.
Practitioner & Systems Framework
💻 ERP Architecture
In the CMS, card payments are matched to the outstanding statement balance and posted as CASA debits. Minimum payment tracking (for revolvers) is also handled in CMS. IFRS 9 requires that revolving (minimum payment) customers are assessed for elevated credit risk and potentially staged to Stage 2.
⚠️ Audit Flags
Auditors monitor the percentage of cardholders making only minimum payments (revolvers) vs. full payers (transactors). A rising revolver ratio indicates increasing credit risk in the portfolio. CBJ requires disclosure of the credit card NPL rate in regulatory returns.
📄 Required Documentation
Card payment confirmation, statement balance at payment date, CASA debit advice, and CMS payment processing report.
Automate this entry with the JEH Accounting Suite
Stop doing manual entry. Our VBA-powered ERP automatically generates your ledgers, Trial Balance, and Financial Statements.
No Subscriptions. Own your data.
Expert Analysis by Qusai Ahmad
General Accountant Supervisor & IFRS Specialist
Specialized in SAP GUI automation and Middle Eastern tax compliance. Building digital tools for the next generation of finance leaders.