To reverse credit card payment transfers made to the credit card vendor. For example, we have certain vendors (office Max, Staples, Costco, etc.) set up as credit card vendors as we pay always via AMEX or Visa/Master card. Once the invoices/receipts are entered in the AP system, the invoices/receipts are transferred to the AMEX or Visa/Master card vendor account, in essence the invoices/receipts are posted as paid. The enhancement will give us the ability to reverse the credit card vendor transfers if the transfer is made in error.
by: ANITA A. | over a year ago | Financial Management
Comments
How does one go about reversing a credit card vendor transfer now? I found our first transfer error and I don't know how to go about reversing it.