Hi Lulu

Your way is not correct.

Do not set up a control account set for this, you only need a new bank. Nowhere in that thread are control accounts discussed. The new "Due to Amex" GL account is a REAL control account - the balance in that account is what you actually owe Amex. This would be especially true if you did not pay off the credit card in full each month.

Please read that thread more carefully. If you are still unsure and would like advice, email me at steve@sschwartzcpa.com. I'm sorry, but this will have to be billable.

Steve Schwartz