When you pull out you Visa card to make a purchase, It most certainly is an increase to your liability account, but it may be an asset as well. If the purchase is to maintain a business through the purchase of a repair & maintenance item, that is an expense. If the purchase is to add a fixed asset to your business, that is an asset.
Spending money is not always a bad thing. Expenses are a fact of life. Expenses take you backwards. Assets take you forward. Assets can be better than cash. The tool you purchased with your Visa card should make you money. The lunch you paid for with your Visa card lowered your net worth.
When you log your purchases into your register, it is easy to lose track if the transaction is an asset or expense. Purchases to build or raise something you will sell later, are assets. Your check register or Visa register has know idea if the transaction is positive or negative. Registers treat all transactions as negative.
That is why it is so important to have QuickBooks.
Brett Bickham, 1/12/2020
Clifton, TX