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We don't have a default cash account configured in payables. Sometimes we pay invoices using manual payment entry, and specify a credit card. When using a credit card however, the cash account doesn't automatically populate in the resulting distributions. Ideally it would be our CC payables account - I tried specifying this account as the cash account for the CC vendor, hoping that it would get forwarded to the manual payment's distributions, but it didnt' work. Anyone know how to make this happen?
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I have the same question (0)Hi,
If you are using a Credit Card that is 'Used by Company' and have it assigned to a Vendor ID, then when you pay a vendor invoice with the credit card, your entry is to credit the Accounts Payable account associated with the Credit Card Vendor, or the Company Accounts Payable posting account if no account is specified for the credit card vendor. The Debit side of the entry is the Accounts Payable account that was used when you entered the invoice you are now paying with a credit card. The cash account is not used at all in a Credit Card payment. The Distribution Type is CASH for the credit side of the transaction, but it is not using the account designated as the cash posting account.
Kind regards,
Leslie
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