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Dynamics 365 Community / Forums / Finance | Project Operations, Human Resources, ... / Paying Vendors with Cr...
Finance | Project Operations, Human Resources, ...
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Paying Vendors with Credit Cards

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Posted on by rcr123 7,986

Good day,

We are looking at the option of paying vendors with credit cards and I have come across a lot of interesting reading material. I have tested our scenarios Inventory and Non-Inventory as per the documents, our Accountant though has concerns in that he cannot see the distribution, and I found a document on MS Learn where one point (5) is interesting.

'Posting a credit card payment generates an outstanding invoice (that is, OPEN status) for the credit card vendor. This credit card invoice doesn't have distribution records.' Hopefully I'm not misunderstanding this.

Now my question is if this is normal why, and has this changed with the more current versions?

We are at GP 2013 and yes planning to upgrade, although I did also read where there are those businesses that opt to enter the CC transactions, expenses, directly in the CC vendor. 

Regards

Rosemary

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Microsoft Dynamics GP
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  • Verified answer
    JodeRuiter Profile Picture
    JodeRuiter 982 User Group Leader on at

    Hi Rosemary,

    No, to short cut this.  When you pay by Credit Card in GP you are NOT reducing your AP Payable, just changing who it is now payable to.  So, if VendorA's invoice that was coded to Rent Expense and Accounts Payable is paid with a credit card then Rent Expense will stay the same and AP will stay the same....it just changes to an AP for the Credit Card Vendor.  If there were ANY entries made it would be CR AP and DB AP to wash the AP Account.

    When you pay the Credit Card Vendor it Credits Cash and Debits AP as you would want it to.

  • rcr123 Profile Picture
    rcr123 7,986 on at

    Thank you for your prompt response, and the answer makes sense, whatever goods or service was provided and paid for by the CC, the debt is now owed to the CC vendor.

    So if I still want to see some indication of where to cost this service where would I look or how can it be recorded.

    Regards

    Rosemary

  • Suggested answer
    Joseph Markovich Profile Picture
    Joseph Markovich 3,976 on at

    Hi Rosemary-

    Victoria Yudin wrote about this on her blog a loooooong time ago. Here's the link:

    victoriayudin.com/.../

    I still reference this article and it still works to this day!

    Joe

  • rcr123 Profile Picture
    rcr123 7,986 on at

    Thank you, used that document for initial testing.

    Regards

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