| Error correction in Accounts Payable Credit Card Management |
Cause | The following records are linked and cannot be changed easily: - Vendor invoices paid using Record Payments by Credit Card.
- Credit Card payments entered using Record Payments by Credit Card.
- Credit Card Statement invoice created using Verify Statement Balance.
- Payment made for the Credit Card Statement invoice.
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Resolution | [BCB:5:Third-party support:ECB] CORRECTING PAYMENTS MADE BY CREDIT CARD: Because you can enter negative credit card payments, if an error is made you can correct it by creating reversing (negative) and correcting payments. Note: A payment on a Statement Invoice is not a considered a "Credit Card Payment". Credit Card Payments are the payments where regular invoices were paid by credit card via Record Credit Card Payments. See the section for "CORRECTING CREDIT CARD STATEMENT INVOICES" to correct a statement invoice. Examples of errors that you can correct using reversing (negative) and correcting credit card payments: To correct these types of errors, enter a negative payment using the original information and a positive payment with the correct information. However, in the case of a refund you will not enter a positive payment. EXAMPLE: The wrong payment date was entered - Enter a negative invoice and payment using the original payment date:
- Select Tasks, Record Payments by Credit Card.
- Select or enter the Credit Card.
- Enter a Reference ID.
- Enter the Date the same date as the original, incorrect payment date.
- Enter the same original Vendor.
- Enter the Amount of the payment as a negative.
- Enter the reversing invoice and distribution information, using the same date and coding that you used on the original payment, but enter the amounts as negatives.
- Accept the distribution, the invoice, and the payment.
- Use the task again to enter a positive payment to the correct date.
CORRECTING CREDIT CARD STATEMENT INVOICES: You can delete but not edit credit card statement invoices. - To change the statement invoice, delete it first in Tasks, Change Invoices and then enter it again using Tasks, Verify Statement Balance.
- If the statement invoice has been paid, void the payment and then delete the invoice.
See I made an error in Verify Statement Balance when I created the credit card statement invoice in Accounts Payable ADDITIONAL EXAMPLES: SCENARIO 1: Credit card payment was recorded with an incorrect payment date. The payment was voided with a different date. A new credit card payment was entered with the correct date. Example: Payment was entered with 01/01/2012 date (it should have been 10/10/2021). The payment was voided 01/01/2021. A new payment was entered 10/10/2021. - Create a reversing credit card payment:
- Select AP Tasks, Record Payments by Credit Card.
- Select the Credit Card.
- Enter a Reference.
- Suggestion: Use the Reference ID used before then add CORR or ADJ at the end to indicate this is a correction or adjustment.
- Enter the Date as the original incorrect payment date. (Using the example above, this would be 01/01/2012.)
- Select the Vendor for the credit card payment (credit card charge) you are correcting.
- Enter the Amount opposite of the original payment. For example, if the original payment was 50.00, enter -50.00.
- In the invoice grid:
- Enter an Invoice ID. This may be the same as the Reference ID or the same as the original invoice ID then add CORR or ADJ at the end to indicate this is a correction or adjustment.
- Enter the Invoice Date. Use the same date as the original invoice.
- Enter the Amount opposite of the original payment (same as step 1.f).
- Enter a Description.
- If your settings are such that you have the accounting date as a separate field, enter the Acct Date to use. Use the same accounting date used on the original invoice.
- Press TAB or ENTER until you are in the distribution grid.
- Enter the distribution information the same as the original invoice.
- Enter the Amount opposite of the original distribution.
- If there are additional distributions that need to be adjusted, repeat steps 1.h.α and 1.h.β for each.
- Click Accept invoice.
- Click Accept payment.
- Click Finish.
- Void this new credit card payment with the same void date used on the original payment:
- Select AP Tasks, Void Payments.
- Select the Payment type of Credit Card.
- Select the Credit card.
- Select the Reference entered in step 1.c.
- Verify that the correct Date, Amount, and Vendor display according to what was entered in steps 1.d through 1.g.
- Select Use specific date and enter the original void date that was used (Using the example above, this would be 01/01/2021.)
- Verify Restore open invoices is marked.
- Click OK.
- Click Finish.
- Delete the invoice:
- Select AP Tasks, Change Invoices.
- Select the Vendor from step 1.e.
- Select the Invoice from step 1.g.α.
- Click Delete.
- Click Yes to the message "Are you sure you want to delete this invoice?"
- Select Original accounting date for the reversing entry, then click OK.
- Click Finish.
SCENARIO 2: Credit card payment was recorded for an incorrect amount, the payment date is in a period you can post to, and the payment has not been verified in Verify Statement Balance. - Void the credit card payment:
- In the Verify Statement Balance task, make note of the Credit Card, Reference, Date, Amount, and Vendor and confirm it is not marked as Verified (if it is marked Verified, you can unmark it). Then Close the task.
- Select AP Tasks, Void Payments.
- Select the Payment type of Credit Card.
- Select the Credit card noted in step 1.a.
- Select the Reference noted in step 1.a.
- Verify that the correct Date, Amount, and Vendor display according to what was noted in step 1.a.
- Click View Invoices.
- Make note of the invoices and the amounts paid, then click Cancel.
- Verify Use original dates is selected and Restore open invoices is marked.
- Click OK.
- Click Finish.
- Change the invoice:
- Select AP Tasks, Change Invoices.
- Select the Vendor from step 1.a and the Invoice that needs to be corrected.
- Correct the Amount on the invoice.
- Enter through to the distribution grid and correct the Amount on the appropriate distribution(s).
- Click Accept Dist.
- Click Accept Invoice.
- If there are additional invoices to correct, repeat steps 2.b through 2.f for each invoice.
- Click Finish.
- Re-enter the credit card payment for the correct amount:
- Select AP Tasks, Record Payments by Credit Card.
- Select the Credit Card noted in step 1.a.
- Enter the Reference (you can use the same Reference ID that was used before as noted in step 1.a.).
- Enter the Date of the payment as noted in step 1.a.
- Select the Vendor from step 1.a.
- Enter the correct payment Amount.
- In the invoice grid, select the invoice(s) to be included with this payment. (If you need to pay the same invoices as before, these would be the invoices noted in step 1.g.). Note: If the invoice is being partially paid, change the Amount on the invoice to the amount you are paying. This does not change the invoice, this is only specifying how much of this invoice you are paying.
- Press TAB or ENTER until you are in the distribution grid. If needed, change the Amount on the distribution(s) to the amount you are paying.
- Click Accept invoice.
- Repeat steps 3.g through 3.i for each invoice to be included on this payment.
- Click Accept payment.
- Click Finish.
- In the Verify Statement Balance task, the credit card payment (credit card charge) should be for the correct amount. Proceed with verifying and creating the statement invoice when ready.
SCENARIO 3: Credit card payment was recorded for an incorrect amount and the payment has already been verified and the statement invoice created and you do not want to delete the statement invoice or the statement invoice has already been paid. - Create an adjusting credit card payment:
- Select AP Tasks, Record Payments by Credit Card.
- Select the Credit Card.
- Enter a Reference.
- Suggestion: Use the Reference ID used before then add CR or ADJ at the end to indicate this is a credit or adjustment.
- Enter the Date to use for this adjusting payment. You may want to use the original credit card payment date if you want the correction on the same date, or you may want to use the credit card statement date to adjust as of the statement date.
- Select the Vendor for the credit card payment (credit card charge) you are adjusting.
- Enter the Amount as the amount of the adjustment. Enter as a negative if you need to reduce the original payment or enter as a positive if you need to increase the original payment. For example:
- If the original credit card payment was recorded as $50 but should have been $5, you would enter the amount as -45.00.
- If the original credit card payment was recorded as $50 but should have been $55, you would enter the amount as 5.00.
- In the invoice grid:
- Enter an Invoice ID. This may be the same as the Reference ID or the same as the original invoice ID then add CR or ADJ at the end to indicate this is a credit or adjustment.
- Enter the Invoice Date. This may be the same date as the original invoice or the same date as the payment Date used in step 1.d.
- Enter the Amount as the amount of the adjustment (same as step 1.f).
- Enter a Description.
- If your settings are such that you have the accounting date as a separate field, enter the Acct Date to use. This may be the same as the Date used in step 1.g.β.
- Press TAB or ENTER until you are in the distribution grid.
- Enter the distribution information according to what needs to be adjusted (i.e. same job cost information, expense account, etc)
- Enter the Amount as the amount of the adjustment for this distribution.
- If there are additional distributions that need to be adjusted, repeat steps 1.h.α and 1.h.β for each.
- Click Accept invoice.
- Click Accept payment.
- Click Finish.
- In the Verify Statement Balance task, you will have this item available to verify. You can verify this item and Create Invoice to create a separate statement invoice for this adjustment amount. You can then pay this new statement invoice with the original statement invoice so that the net total is the correct amount you need to pay your credit card bill.
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