Facebook advertising

Hi,

I have enabled monthly facebook advertising. How do I make this into expenses?

How do you pay for this advertising?

Facebook lets me order $3 per day. and they charge me by credit card after whole month complete.

OK, do you have the credit card set up in Manager or is it a personal card ?

If the credit card is set up - Spend Money
If it is a personal card - Use Expense Claims to take up the advertising.

The credit card is under my name, but i solely use it for my business. How to set up the credit card?

To set up the Credit Card and to locate it correctly on the BS is a two stage process

  1. Go to Settings - COA - BS and click New Account, enter account Name as - Credit Cards, Group = Liabilities and then tick the Control Account box and Create

  2. Go to Cash Accounts tab and click “New Cash Account”, select Cash at Bank, enter the Credit Card Name - “XYZ Visa”, for Control Account click on Default and select Credit Cards. Optionally you can enter the credit card limit and Create.

Now when you look at your Summary tab, you will see under Liabilities the Credit Card Control Account.
To process your credit card transactions just click on Cash Accounts as for other bank accounts

PS: if you can’t see COA Control Account tick box then you need to update as its a new feature

1 Like

Sorry to open the topic again.

I have done the setup. But how do I key in the value? $3 per day as Account Payable or when facebook invoice me after collect $180 then only I key in as expense?

You would key in the amount that Facebook Invoices you, the amount on the Credit Card Statement

So by end of the month, i will use my cash from bank to pay my credit card, i would key in from where to where to ‘Advertising Fee’?

All your credit card transactions would be individual Cash Accounts - Credit Card - Spend Money entries

To pay your Credit Card you have two choices

  1. By Cheque: Cash Accounts - Bank Account - Spend Money
  2. Online Transfer: Cash Accounts - Bank Transfer

Note: if using by cheque, then you need to set up a clearing account - search the forum