Pay Off Credit Card Balance

This FAQ will go over how to pay off a credit card balance in Paradigm.

The recommended way of paying off a credit card balance is through the withdrawals screen. Information on where to find the withdrawals screen, and how to create a withdrawal, can be found in this FAQ: Checks & Withdrawals

Create a Credit Card Company Vendor

• If it does not already exist, create a vendor for the credit card company the payment is being made towards.
• Set the default expense account to the desired credit card GL account.

Recording the Payment

1. Create a new withdrawal and select the credit card company vendor.
   • This will auto-populate a row in the details, using the expense GL account that was selected in the vendor’s detail tab.
2. Confirm that the selected bank account is the account from which the funds have been withdrawn.
3. Change to the desired credit card GL account or add GL accounts in the details, as needed.

• Enter the payment amount, either in the header in the “Amount” field, or in the details.
  • The sum of the amounts in the details must be equal to the “Amount” field in the header.
• Once the payment information is finalized, click “Post”