Hi Apologies for not getting back sooner. I have been getting help with configuring the software with an accounting specialist. I have to say Microsoft has lost the plot when it comes to releasing software. Who in the right mind could say that it is easy to migrate from QB. Complete nonsense and very frustrating for the user. MS needs to think a few things through as I can't prompt their ERP solution to my customers as it is not fit for purpose compared to what is in the market space and the level of maturity of the software and support is light years ahead. In any event I have gone down this route so I am not quitter, however if I billed my time to MS it would be in the 10,000s . I have done the following:
1. I have set up AMEX as a vendor with a payment term CM
2 I have GL account for AMEX - not sure how to setup a clearing account
3. For each transaction I set up a purchase invoice where I can track the project as well. As a consultant who travels a lot this can be painful and when I first looked at BC there was suppose to be an extension that was removed for handling expenses automatically
4. When I am making a payment I use the Cash Receipt journal and apply the amount to the posted purchase invoice amounts on the list and post the payment to the my bank account.
I don't think I am too far from your approach and maybe I can transition to your method which seems more sound from an accounting perspective
Many thanks
