As more companies use credit card to pay vendor invoices we have been creating banks for those credit cards. Paying with a credit card is just a check run from the cc bank. The bank asset account is set to a clearing account. But you then have to enter the AP amount in the cc vendor account for the amount. This must be done manually. I propose that we set the bank so that it creats the AP entry to the cc vendor with the check is processed from teh cc bank. After all there is no reduction is debt or cash. Only a transfer from one vendor to another.
by: Steven E. | over a year ago | Financial Management
Comments
If we were able to set up credit cards as Vendors and mark them as credit card vendors this would be helpful. We could then transfer invoices for the actual vendor for the purchase (i.e. a hotel or airline) to the credit card vendor (Visa, MasterCard, etc.) thus keeping A/P in balance, keeping the GL postings correct for the purchases, yet still allowing us to pay the credit card bill via check or electronic payment.
More and more companies pay invoices that have been posted by credit card to get points or to delay the outlay of cash or for a variety of other reasons. The logic for this function exists in other Sage products. Our customers need this.
As noted above - other Sage products have this function; why not Accpac? How do we compete with QuickBooks if the company uses credit cards to pay for lots of purchases? The work-a-rounds in Accpac are painful.
Please add this feature. More and more companies are paying by credit card and we can only propose a work around. It is truly a basic function that Quick Books has and is needed in Sage 300. If you took a poll from Sage 300 Business Partner and end users, I believe that this feature would receive a very high # of votes.
I cannot believe more people have not voted for this but until recently I didn't realize this comment section was here so maybe there are many, many other users who would agree and just don't know that this exists. I hate using the credit card since there is no way for that vendor to show up in the transaction journal. It makes researching vendors very time consuming.
I agree, we need this feature.