We post credit card transactions to specific vendors to track their history and pay the transaction via credit card sending the outstanding payable amount to the credit card vendor in AP. When we post such a transaction we are putting the AP control account in the CASH type in the distribution as instructed. All the PMTRX transactions to c/c vendor are throwing the subledger out as they only appear on the GL side but not on the PM side even though we can run AP Trial Balance on the c/c vendors. Is there a process we are missing to make these c/c transaction balance GL to AP in Reconcile to GL?
Here is the text (supposed to include screenshots) on posting invoices to a credit card vendor. This is the method we use for recording credit card charges:-
Example 2 – Purchase of Non-Inventory items
You purchase office supplies from OFFICESP0001 – Office Specialists
This is not processed using a Purchase Order (Could be something you order online or go to the store to purchase).
You now need to record this Invoice. This will be posted to OFFICESP0001 because you want to track the purchases, either for 1099 purposes, or because you want to track how much you spend with this vendor.
Purchasing >> Transactions >> Transaction Entry
Choose the Vendor OFFICESP0001, enter a Document Number. I used the date in the format YYMMDD.
Shipping Method and Tax Schedule can be modified if needed.
Enter the Amount of the Purchase, then enter the amount in the Credit Card field.
When you tab off that field, a new window will open where you can choose the Credit Card.
- You can also modify the Receipt Number – This will display on the VISA00 record and should be changed to assist with matching the VISA statement for reconciling.
- Date (this should be the actual transaction date)
- Payment Number can also be modified
Note: The Receipt Number was changed to 140505 OFFICESP00.
This is the date in the format YYMMDD with the Vendor ID.
Another example: You could modify this to 140505OFFICE479.
Date, part of Vendor ID and last part of Store Receipt number.
Click the Distributions Button to view how the Invoice will be distributed.
The Distributions for this Invoice would be a Debit to the Expense account set up for this Vendor.
This account can be modified as needed.
The Credit shows as Type CASH, however it is going to the Accounts Payable account.
When you tab off that field, a new window will open where you can choose the Credit Card.
- You can also modify the Receipt Number – This will display on the VISA00 record and should be changed to assist with matching the VISA statement for reconciling.
- Date (this should be the actual transaction date)
- Payment Number can also be modified
Note: The Receipt Number was changed to 140505 OFFICESP00.
This is the date in the format YYMMDD with the Vendor ID.
Another example: You could modify this to 140505OFFICE479.
Date, part of Vendor ID and last part of Store Receipt number.
Click the Distributions Button to view how the Invoice will be distributed.
The Distributions for this Invoice would be a Debit to the Expense account set up for this Vendor.
This account can be modified as needed.
The Credit shows as Type CASH, however it is going to the Accounts Payable account.
After posting the entry. View OFFICESP0001 vendor.
Purchasing >> Inquiry >> Transaction by Vendor
Note: Two entries are shown. The INV transaction and a PMT transaction.
Note the Payment number I used tells me this was a VISA payment as well as the Invoice Description showing in the Transaction Description that shows it was a purchase on VISA.
