Credit Card Management set up in Accounts Payable

You can set up Credit Card Management in Accounts Payable to record and track credit card purchases, fees, and miscellaneous charges.

Prerequisites to use Credit Card Management

1. Create a credit card payable account in General Ledger.
2. Specify the Credit Card Payable account in File, Company Settings, AP Settings, GL Entry Settings.
3. Set up credit card vendors.
4. Go to Setup and Credit Cards.
5. Click the * button to add credit cards.

Enter Credit Card Payments

1. Go to Tasks, Record Payments by Credit Card.
2. Select the Credit Card used for the purchase.
3. Enter a Reference ID, Date, and select the Vendor.
4. Select the Vendor and enter the Amount.
5. Enter a new invoice or select an existing invoice.
6. Click Accept payment.
7. Click Finish.

Create Invoices for the credit card vendor

1. Go to Tasks, Verify Statement Balance.
2. Select the Credit card vendor.
3. Select the items that appear on the credit card statement.
4. Click Save, then click Create Invoice.
5. Enter the Invoice number, Invoice date, Payment date, and Accounting date.
6. Enter miscellaneous charges, bank fees, interest if applicable.
7. Click Create Invoice, then Finish.

The following Accounts Payable reports are for tracking and reconciling Credit Card Management invoices and payments

• Reports, Cash Management, Payments by Credit Card
• Reports, GL Reconciliation, Period End Report - CCP Accounts
• Reports, GL Reconciliation, Entries by Batch - CCP Accounts
• Reports, GL Reconciliation, Entries in Detail - CCP Accounts

What accounting transactions does Credit Card Management create in AP?

Error correction in AP Credit Card Management