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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / GP cash receipt credit...
Microsoft Dynamics GP (Archived)

GP cash receipt credit card

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Posted on by Richard Wheeler 75,848 Moderator

Please explain how selecting credit card payment type on a cash receipt works. I just had a client process one like this and as soon as you seclect credit card, the checkbook ID field goes blank, your enter the amount and post. When you do this, nothing ever gets down to the checkbook. You see it on the ledger but now there is nothing in the checkbook to reconcile. Is this how it is supposed to work?  How do I reconcile the checkbook now that I cannot see this payment anywhere? When I went to bank deposit entry it does not appear there either.

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  • Victoria Yudin Profile Picture
    Victoria Yudin 22,769 on at
    Re: GP cash receipt credit card

    Hi Richard,

    There are 2 ways to set up a credit card that you receive from customers.  Sounds like the one your customer used is set up as 'Charge Card' meaning it will post to a GL account (usually something like Credit Card Receivable), not a Checkbook.  This type of credit card setup is useful when the credit card processor takes their discount or fees out of every transaction right away.  So the initial cash receipt relieves the AR, but is sitting in a GL account as a debit.  When the money is received from the credit card processor, a Bank Transaction (Receipt) is entered to record the debit to Cash, credit to the GL account used by the credit card and (typically) a debit to the GL account for the processing discount/fee.

  • Kaitlyn154 Profile Picture
    Kaitlyn154 5 on at
    RE: GP cash receipt credit card

    It is important to consider what payment methods you will offer when you start your business. Review them regularly to see if you are keeping up with your customer's payment preferences and if you are meeting their needs myprepaidcenter

  • Community Member Profile Picture
    Community Member on at
    RE: GP cash receipt credit card

    Cash takes are used to apply costs to mailed statements. Creating money receiving and applying one to a file are two distinct steps. A cash received must be posted after being applied to a file.

    Best Regards

    Professional Dissertation Editing Services

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