Posting A Prepay Credit Card

Details: The step by step process will give you an example/provide details from a storytelling perspective. Step by Step:

1. Created PO for $473.00 and received items

2. Add Credit Card Charge $473 to Ford’s Gourmet Foods 2/1/2019 to GL Acct Payable 2000 and clicked ‘Add Charge’.

   1. This landed in Unreconciled Charges for CC Amex

3. Posted to GL
   1. This decreased Accounts Payable so theory is the invoice will increase AP once invoice is entered

Enter the invoice and ensure the credit on Vendor account washes out

1. Entered Invoice to Fords and selected the Inventory Item in Apply Inventory for $473.00
   1. What does Vendor Profile look like now? Invoice has Open Status but balance is zero
2. Once you refresh the Debit Memos and Invoice screens from the Vendor Profile, those transactions will now be in a Closed Status

Impact on GL

You are done! This process correctly posts to all the accurate GL accounts for clearing PAND and AP.

• Congratulations on posting a Prepay Credit Card!