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Title: Adding Invoices for All Vendors on a Credit Card Bill

Brief description:

This page outlines how to add a vendor invoice for each transaction on a credit card statement in addition to a vendor invoice for the credit card bill as a whole.

This may be useful for anyone who is accustomed to this process (such as those who are converting from QuickBooks to Unanet Financials), as well as anyone who would like to track credit card payments to vendors instead of to just Visa/Amex. 

Note two caveats with this method:

  1. This method requires more work since for each transaction you must create an individual vendor invoices.
  2. You cannot use the Unanet credit card import in combination with this method as it is an alternative method. If you were to use this method in addition to the credit card import feature, transactions would be double counted in the system.

What’s covered in this document:

Ongoing Processing Steps

  1. Add a Vendor Invoice for the detailed vendor transaction from the credit card and Post.
    1. Remember to change the AP account to the Person's CC account
    2. Debit the expense account this charge is for such as Office Supplies

  2. Immediately add a $0 Vendor Payment for the Invoice created in Step 1. Use the same dates and posting date.
    1. Choose the invoice on the Paid documents page.
    2. Go to the details page and select the CC account used in step 1
    3. Use the negative of the original amount here so that the balance is $0
    4. Post

  3. When the Credit Card Bill comes in:
    1. Repeat steps 1 and 2 for any charges not previously added.
    2. Create a Vendor Invoice
      1. The invoice will be posted to regular AP
      2. On the Details page, select the CC Account that was used in steps 1 and 2.
      3. If there are items on the credit card that were included on an expense report then add another detail row and select account (the Credit Card Expense Report Cost Account, actual account number might vary)and enter the total of amounts from the bill that were included on Expense Reports.

  4. When the time comes create a Vendor Payment for the Credit Card and process as a normal vendor payment.

  5. Here is what you will see in the GL:

GL Entry Summary

The GL entries that are made are summarized as:

  1. DR Expense Accounts- $100
    CR Employee Credit Card Payable - $100

  2. DR Employee Credit Card Payable - $100
    CR Employee Credit Card Payable - $100

  3. DR Employee Credit Card Payable - $100
    CR Regular Accounts Payable - $100

  4. DR Regular Accounts Payable - $100
    CR Cash - $100

AP Sub-ledger Summary

Step 1: CR AP Sub-Ledger 100

Step 2: DR AP Sub-Ledger 100

Step 3: CR AP Sub-Ledger 100

Step 4: DR AP Sub-Ledger 100

Additional Information 

KC - Unanet Bank Reconciliation for Credit Cards

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