[AP] AP Credit Card Setup and Processing

Setup Steps:

1. CM Accounts

1. Add a master credit card CM account to allow payments to be recorded as CM transfers from checking to the master credit card account.
2. Add a credit card CM account for each card holder.
   1. Mark the CM Account as a Credit Card account using the UD field.
      
   2. Add the last four digits of the cardholder’s card to the CC #’s tab. Add the employee’s initials if there is a conflict on the last 4 digits with another card holder.

2. AP Vendors

1. Setup separate credit card vendors: Typically 9000-9100 range. I normally suggest 20-40 credit card vendors with the following list as suggestions:
   1. CC-Fuel (Used for all fuel purchases regardless of fuel station)
   2. CC-Meals-Travel
   3. CC-Meals-Entertainment
   4. CC-Lodging
   5. CC-Airfare
   6. CC-Misc (used for vendors paid via credit card less than once per month)
   7. CC-Vendor Name (create separate CC vendors for commonly used CC vendors, such as Amazon, Home Depot, etc)
2. Set the default pay control for credit card vendors to CC
3. Mark credit card vendors as Separate Payment per Invoice

Processing Steps:

1. Invoice Entry:
   1. In the invoice entry form, enter each receipt as a separate invoice and add the credit card last 4 digits to the invoice header in the CC# custom field.
   2. Otherwise process the invoice normally.
2. Recording Invoice as Paid
   1. In AP payment workfile, restrict by the CC Pay Control and add the transactions into the workfile.
   2. Click the CC CM Account update button to have the CM accounts updated.
   3. Clear the workfile and readd the transactions with the CC Pay Control filter and mark for payment.
   4. Create a payment batch as normal.
   5. In AP Payment posting, click the CC Payment button to record the invoices as paid.
3. Reconciliation
   1. Monthly in CM Statements create a statement for the master account and the individual accounts.
   2. Record transfers from the checking account to the master account and from the master account into the individual CC CM accounts.
   3. Reconcile the master account and the individual CC CM accounts.