Credit Cards As Payment Methods

Details: Step by Step:

1. Setting up the Credit Card as a Payment Method
   1. Go to Administration > Accounting > General Setup > Payment Methods
   2. Click on [Add] to add a new payment method
   3. Enter the name of the Credit Card (XYZ BankCard)
   4. Select the Category [Payment] from the pull down menu
   5. Select the Type [Credit Card] from the pull down menu
   6. Select your Accounts Payable Credit Card Liability Account from the pull down menu
   7. Select your Merchant Discount Fees Expense Account (optional)
   8. Click [OK] to save
2. Entering the vendor invoice into inventory
   
   1. Go to Administration > Accounting > Accounts Payable > Enter Bills Inventory
   2. Enter the Vendor invoice just like you would for any other inventory invoice
   3. Paying the Bill
   4. When it’s time to pay the bill go to Administration > Accounting > Accounts Payable > Pay Bills
   5. Select the bill(s) to be paid
   6. Select your Payment Account
   7. Select your Payment Method (Credit Card)
   8. Click the [Pay Bills] button to pay the bill

• This will NOT send the bill to the Print Checks queue since it’s paid by Credit Card. It will show up on your bank register, bank rec and in the vendor payments tab.

*NOTE: This payment method cannot be voided.