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Payment made with credit card

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Posted on by Alvaro Rodríguez Ochoa

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Hi, I have a question, what's the best way to do this?

Sometimes we made purchases and pay them using the corporate credit card. How do you register this transactions since:

1.- Vendor invoice cannot apply the credit card payment.

2.- A check to the bank or Transfer should be made to pay the credit card.

Vendor invoice and CC check would be open, should an invoice be entered to apply the check to and a debit memo for the invoice? (this is the way we do it)

I think this is resolved in GP 2016 but we will start with the migration process until next week and will take I think around 4 weeks in total.

Thanks in advance for your reply.

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L Vail 65,271 on at

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Hi,

When you enter and post an invoice, and then later pay it with a credit card, you need to book a Manual Payment transaction to record the credit card payment. Once posted, the manual payment will automatically create a payable to the vendor ID you have associated with the credit card.

If you pay it with the credit card at the time of purchase, then you would enter the credit card payment on the Payables Transaction Entry window. This method will also create the payable to the credit card vendor.

If you pay a 1099 vendor with a credit card, you should exclude it from 1099 reporting because the credit card processor is supposed to send the 1099. GP doesn't keep track of this subtlety, so you would need to do it manually. A SmartList is probably the best way to identify these transactions.

Kind regards,

Leslie

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Victoria Yudin 22,769 on at

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Alvaro, I have a blog post about using credit cards in GP that might be helpful:

victoriayudin.com/.../using-credit-cards-to-pay-vendors-in-dynamics-gp

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Alvaro Rodríguez Ochoa 2,395 on at

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Thanks Leslie and Victoria

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alimann 175 on at

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I have a client that pays a vendor with a credit card, but maybe every 6 months, pays them with a check - through the Select Check process. The problem we are having that we cannot seem to resolve, is that all the vouchers paid by credit card and the accompanying payments since the last check paid directly to the vendor show on the check stub - with zero net balances - but still show. Is there a way to prevent this? We tried everything, including unchecking 'Print Previously Applied Documents on Remittance'.

Any insight will be appreciated!

Thank you, A. Mannion

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