Hi Shellie,
Yes, we setup a Virtual Credit Card two years ago in our company. This is what we did:
1. Setup a separate Checkbook - "VIRTUAL CARD" or any name you like.
>> on Payables option - Setup your EFT
>> Next EFT Payment Number: VC000XXX
>> File format: VCARD (copy from existing file format NACHA-CCD)
2. Set all your Virtual Card Vendors with Payment Priority 5 - this way you'll be able to filter only Virtual Card Vendors when you run your Payment Batch under Select Checks - EFT. We also set our Virtual Card Vendor Checkbook ID: VIRTUAL CARD
3. Enter your regular Invoices
4. Run your EFT payment to be paid by Checkbook ID: VIRTUAL CARD
Entry: Debit Virtual Card Liability/ Credit - Virtual Card [CASH]
In Vendor checkbook Invoice / Payment - it is cleared. But we still owe the Bank.
5. In Bank Transaction Entry >> Type: Increase Adjustment
>> Checkbook ID: VIRTUAL CARD
>> Description: use virtual card number (that is the EFT Payment number) for reference
>> Entry: Debit Virtual Card [CASH] / Credit: Virtual Card Liability
(to zero out entry in #4)
Hope this help!
Cecile
