Currently the only method for paying by credit card is to transfer AP vouchers to a Credit Card vendor. The problem with this method is that, if we have AP set up to post in detail, each invoice that's paid via credit card is shown as a separate line item in the credit card account. Since the actual charge that hits our Credit Card statement is a sum of those vouchers, it makes it difficult to reconcile.
To get around having each invoice post separately to the credit card account, we create a debit memo for the total and apply that debit memo to the invoices being paid. This is still not ideal.
The Credit Card account should be it's own special type of account, not just another liability, with the ability to do a reconciliation similar to how we reconcile the bank statements, and the ability to select it as a type of payment. Instead of printing a check, selecting the credit card payment method would create a payment summary that we can file with the invoices. The total payment to a vendor via the credit card would show up as one line item in the credit card account instead of separate line items for each invoice, making it easier to reconcile.
by: Penny C. | over a year ago | 1 - Financial Management
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Please see the planned enhancement for the 2015 release, due out late summer of 2015. If you would like to have input to the design of that enhancement, please contact Sage Product Management directly at linda.cade@sage.com