So What about Debit Cards?
Debit cards, when you get right down to it, aren’t really credit cards at all. Using a debit card is more akin to writing a check than anything else. Rather than withdrawing money by writing a check, however, you withdraw money by using a debit card.
Although a debit card transaction looks (at least to your friends and the merchants you shop with) like a credit card transaction, you should treat a debit card transaction like you treat a check. In a nutshell, here’s what you need to do:
When you charge something to a debit card, record the transaction just like you record a regular check. You may want to enter the transaction number as the check number or in the Memo line so that you can keep track of the transaction.
When you withdraw cash by using a debit card, record the transaction as a regular withdrawal (or transfer to a petty cash account) as if you went to the bank with a withdrawal slip.
When you make a deposit through a cash machine by using a debit card, record the transaction just like you record a regular deposit.