Creates an invoice under the AMEX vendor. Once posted, what this will accomplish: And it is Credit card 2009 lot easier to remember what happened last week than what happened a month and a half ago. This is because of how I entered the date with the year first and using 6 digits. This Receipt Number will become the invoice number under the credit card vendor.
Note that I put the date in a little strangely: Most of the purchases need to be recorded against the actual vendors. Choose the credit card and date. Enter the transaction like you would normally enter a non-inventory payables invoice, then enter the amount you paid with the credit card on the bottom right: This is a long one but at least there will be lots of pictures.
Even so, you may want to get comfortable and grab a cup Credit card 2009 coffee first. This invoice is open unpaid at this point.
You purchased non-inventory items from a vendor want to track and pay them with a credit card. While you may not be able to fit the entire vendor ID or name in here, usually you can get enough in to allow easy reconciliation.
The CASH type distribution is recording the payment, but since it was made with a credit card and not cash, it is crediting Accounts Payable this will be the Accounts Payable account from the credit card vendor. For the Document No. Enter the amount paid by credit card and Apply just like you would any other payment.
In this example, we have already posted an invoice for DELL, now we are recording that we paid them with a credit card: If you have a different Accounts Payable account set up for the credit card vendor, you will see that account here, not the Accounts Payable account for the vendor you are entering this transaction under STAPLES in this case.
You do not really want to clutter up your Vendor list, as you might only buy from this vendor once or twice. However, it may provide some solutions for many. Again, not a requirement, but it makes your credit card vendor invoices sort automatically with the default sorting GP uses. I will be using Dynamics GP Once posted, this will show as another open invoice under the AMEX vendor.
Monthly credit card statements need to be reconciled quickly so there is no delay in paying the bills and no huge unapplied payments sitting in GP because it takes so long to reconcile and enter the statements. This is a topic that comes up periodically in newsgroups and I would like to share what I have personally found to be the most straightforward and comprehensive way.
This method is certainly not for every company out there paying vendors with credit cards. There are a number of typical scenarios: Basically, this transaction moves the liability from one vendor to another. The GL distributions on this may be surprising if you have not entered similar transactions before: The important step here is to create a different vendor for each distinct account that you get billed for or pay.
Again the GL distributions may not be exactly what you are expecting: My goal is simply to offer options. If not, this can help get the information from those card holders that typically lag in getting you their receipts or tend to lose them before the statement even shows up.
That is all the setup required. First we need to create a payables vendor for each credit card. Especially for inventory purchases.
Having the full name in the Description will make it much easier to search for this vendor in SmartList. You have already posted the payables invoice under the correct vendor or you have purchased inventory items and have posted the invoice in POP.
You have not posted the invoice yet. Of course you can get this list of transactions in SmartList as well and export it to Excel if that is preferable. I also put the full name of the vendor in the Description, as there any many times with this scenario where the full name will not fit into the Document Number:Credit card numbers.
Credit card numbers that conform to the Luhn formula (MOD 10 check).
Usefull for testing e-commerce sites (because they should get past any pre-validation you do, and be declined at the card processor or bank stage). We’re so glad to have you as a member.
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There are a number of different ways to record paying vendors with credit cards in GP. This is a topic that comes up periodically in newsgroups and I would like to share what I have personally found to be the most straightforward and comprehensive way.Download