You’re offline. This is a read only version of the page.
5
This is an old posting that we are still trying to get an answer for. If anyone has a solution it would be greatly appreciated. Sorry it's so long but I wanted to include all the details.
Thanks!
"jdean" wrote:
This is exactly what I have done, setup each credit card as checkcard using a
checkbook, and each credit card (6 amex, 1 visa) has it's out account.
The problem I'm running into is credits to the credit card. We are using
Project Accounting and lets say for example that all of our shipping charges
for XYZ Shipping are automatically charged to our card. I can enter these as
invoices and then say it was paid using a check card, or pay it using the
check card in payables management. But if XYZ Shipping screws up and charged
us wrong they will credit us back for that amount. This shows as a separate
charge on our credit card. Since we are using Project Accounting I need to be
able to "credit" that charge back to the original project and the vendor so
that it can be probably tracked and reconciled at the end of the month. But
since we treat this as a checking account, the only time you put money "back
into your checking account" is by "voiding a check" or by "depositing money".
These are not available in Project Accounting. So there is no way that I can
find to put a credit onto the credit card while putting it back to a Project
and the Vendor at the same time.
Any suggestions?
--
J Dean
"6538" wrote:
> I did this at my last job and have implemented for several clients recently.
> I sent up a separate checkbook for every corporate credit card (we had 1
> amex card and 6 visa cards). Entered every purchase as a bank trx - I setup
> a GL account for amex and one for visa and the distributions were credit
> credit card clearing and debit expense. We still had to run the payments
> through accounts payable and the best way I found to do this was enter the
> statement in AP (credit AP and debit credit card clearing). When the check
> was cut I entered it as a bank trx - increase adjustment (credit credit card
> clearing, debit credit card clearing). This kept the clearing account
> balanced w/ the checkbook balance and allowed me to reconcile the statements
> just like you would a checkbook.
>
> The one thing I don't know is if you can use electronic reconcile for this
> if the volume is high. If you can use integration manager to bring in the
> credit card trx (you can usually download a csv file of the activity) and
> then use electronic reconcile that would be soo cool. Any ideas if that
> would work?
>
>
>
> "Lyle U" <lyleu@nowhere.net> wrote in message
> news:xn0fo8hlcjxkc000@msnews.microsoft.com...
> > You could set up each one as a "bank" account. The fun part will be
> > dealing with the probable different settlement procedures for each one.
> > Treating them as bank accounts could be a viable alternative.
> >
> > --
> > Lyle U
> >
> >
> > TC wrote:
> >
> >> I need to know if there is a program out there that will allow for
> >> Corporate Credit Cards to be reconciled same as the checkbook is in
> >> GP.
> >>
> >> The Corporate Cards to be reconciled would be VISA, MC, Amex and
> >> possibly Discover.
> >>
> >> Any information is greatly appreciated.
*This post is locked for comments
I have the same question (0)
Share
Report
All responses (
Answers (
