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AP Credit Card Payments

  • 1.  AP Credit Card Payments

    Posted Mar 26, 2020 02:38 PM
    We would like to pay some of our vendors with a corporate credit card. However I want the invoices to be entered under the vendor name so we can track the expense. Is there a way to enter the invoice under ABC, and pay with the credit card and then reconcile when the credit card statement comes in?

    Any help is appreciated.

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    Bari Fulton
    Controller
    CWI Logistics, Inc
    Winter Haven, FL
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    Academy - Online Interactive Learning from Experts


  • 2.  RE: AP Credit Card Payments

    GOLD CONTRIBUTOR
    Posted Mar 27, 2020 08:44 AM
    You would need to create a vendor in GP for the card issuer first.  Then define the credit card(s) by going to Tools > Setup > Company > Credit Cards.  Once you have the card defined then enter a manual payment and choose credit card as the payment method, select the card you've defined, and apply to the vendor invoices you're paying with the card.  When you post that payment a payables invoice will be created under the vendor associated with the credit card.  That's what you'd use to pay the credit card issuer, and also for reconciliation to the statement.

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    Jim Harris
    Director of Information Systems
    ExamWorks, Inc.
    Atlanta GA
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    Academy - Online Interactive Learning from Experts


  • 3.  RE: AP Credit Card Payments

    GPUG ALL STAR
    Posted Mar 27, 2020 08:49 AM
    Hi @Bari Fulton

    This is technology already in Dynamics GP. However, you must be on Dynamics GP 2016 or greater.

    In GP 2016 you have an option when building a check batch (Build Payments) ​



    Now you can simply choose which bills to pay with credit card.

    To accomplish this you have to setup a credit card in Administration>Setup>Company>Credit Cards


    Once you enter the regular invoices and then pay them with the card, the original invoices are marked as paid and linked now to this card.  The Vendor ID on the card is the Credit Card Vendor, so that theoretically after you pay the regular bills you can just cut a check to, say, American Express through GP for the bills you paid by credit card IN GP.  (In the example above, the credit card is held by Wood Grove Bank).

    If you are on an earlier version this is a different story.  I would suggest you contact your partner to upgrade because all versions under GP 2016 will shortly be out of main stream support anyway.





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    Academy - Online Interactive Learning from Experts


  • 4.  RE: AP Credit Card Payments

    Posted Mar 27, 2020 10:55 AM
    ​I have done this before.  Enter your invoices as normal. ( I usually enter a batch and post the batch.)
    Then go to Purchasing>Transactions>Manual Payments.
    Enter your date of payment, Vendor ID and Payment method (in this case, Credit Card)
    Enter amount.
    Click apply
    You can then select the invoice you want to apply the payment to.
    Then click on Post to post your payment.
    Hope this helps.

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    C Weston
    Axis Health System
    Durango CO
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    Academy - Online Interactive Learning from Experts


  • 5.  RE: AP Credit Card Payments

    TOP CONTRIBUTOR
    Posted Mar 27, 2020 11:25 AM
      |   view attached
    @Bari Fulton,

    GP is capable of this right out of the box. It just takes some setup. I put together the attached for a client. It s too long to paste into the body of this message, but I have attached it​ for you to grab.

    Please pay special attention to step 3 in the section called "How does it work when I use a CC to purchase something from a vendor?". Do not accept the default Receipt Number that appears when the pop-up box appears. This is crucial to being able to track specific items in the CC Vendor's history.

    Let me know if you have any questions after reading this.

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    Barbara Gavron
    Atlantic Beach / Jacksonville FL
    904-536-0129
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    Attachment(s)

    docx
    Credit Cards.docx   1.15MB 1 version
    Academy - Online Interactive Learning from Experts


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