Credit Card in Separate A/P G/L Account

This document explains how to print a report to make a manual journal entry each month to have the credit card vendors separate from the rest of your Accounts Payable in the G/L module. 

If this procedure is done each month, when balancing the A/P Aged Trial Balance to the G/L, the A/P Trade and the A/P Credit Card G/L accounts will need to be added together to match the A/P Aged Trial Balance.

STEP 1

Go to:

• Accounts Payable (Module 3)
  • System management (Task 32)
    • Modify application tables (Sub-task 17)
      • Vendor type definitions (1)

This vendor type can be any alphanumeric, one character.  Below is an example of the type C as the Credit card type. 

“C” , “Credit Card”

“a” , “Architect”

“1” , “Contractor”

STEP 2

Go to:

• Accounts Payable (Module 3)
  • Vendor master (Task 17)
    • Change existing vendor record (Sub-task 2)
    • Bring up your credit card vendors & change field 12 vendor type
    • After the vendor type is (in this example C), set to the credit card type, any voucher posted after, will have this vendor type.

STEP 3

Month end report, go to:

• Accounts Payable (Module 3)
  • Voucher history (Task 19)
    • Print selected Vch history records (Sub-task 4)
    • Starting Batch #: Enter key for ALL
    • Starting vendor #: Enter key for ALL
    • Starting vendor type: C in this example
    • Starting division #: Enter key for ALL
    • Starting & ending date: use the month just closed
    • Starting check #: Enter key for ALL
    • Starting voucher #: Enter key for ALL 
    • This report will give you a total of all vouchers & payments for the month, to all of your credit card type vendors.
    • Suppress detail records? YES or NO 

• REGULAR ENTRIES  REGULAR TOTAL (NET CHANGE TO A/P): would be what was vouchered.   
• PAID ENTRIES WITHIN DATE RANGE   PAID TOTAL (NET CHANGE TO CASH): would be the total of what was paid.

• Using this report a manual journal entry can be made in the General Ledger (Module 4), Manual TRX entry & editing (Task 1). 

• To setup a recurring journal entry for this see the document titled “Task 18 - Reversing & Recurring Journal Entries”.

• To add a new G/L account # see the document titled “Add a General Ledger Account” or contact us via email or fax 248-583-4110.

MANUAL JOURNAL ENTRY

• For this example we will say the Accounts Payable Trade General Ledger account is 301-00-01 A/P Trade, and the A/P Credit Cards is 302-00-01.
• For this example we will say the Voucher history report printed in step 3, showed REGULAR ENTRIES  REGULAR TOTAL (NET CHANGE TO A/P):  $5,000.00
• For this example we will say the Voucher history report printed in step 3, showed PAID ENTRIES WITHIN DATE RANGE  PAID TOTAL (NET CHANGE TO CASH): $4,000.00
• The manual journal entry would be:
• Debit A/P Trade 301-00-01 $5,000.00
  • Credit A/P Credit Card 302-00-01 $5,000.00
• Debit A/P Credit Card 302-00-01 $4,000.00
  • Credit A/P Trade 301-00-01 $4,000.00