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Title: Pay Purchase Order with Credit Card

Brief description:

This video demonstrates how to pay a Purchase Order with a credit card, covering the high-level process, setup requirements, and steps to take in Unanet.

Quick Video - Pay Purchase Order with Credit Card

What’s covered in this document:


Overall Process

At a high level, you will need to go through the process of creating a Vendor Invoice, Vendor Payment, and completing a reconciliation twice: once for the PO Vendor on each transaction, and once for the credit card statement as a whole.


Setup Requirements

In order to complete this process, your system must already have the following setup items configured.

Accounts

Under Admin > Setup > Accounts, you will need two Liability accounts set up for your credit card – an Accrual account and a Payable account.

Bank Accounts

Under Admin > Setup > Bank Accounts, you will need a bank account set up for your credit card that ties to the Payable account set up above.

Payment Methods

Under Admin > Setup > Payment Methods, you will need to add a corporate card and make sure the "Allowed" column under Vendor (AP) is checked.


Steps in Unanet

The steps and example screenshots below demonstrate how to pay Purchase Orders with a credit card in Unanet.

  1. Create a Purchase Order for each Vendor.


  2. After the purchase is made, go to Financials > Accounts Payable > Vendor Invoice to create an invoice for each Purchase Order. Creating these Vendor Invoices will automatically reduce your commitments.
    1. Make sure to select the Purchase Order # on the Vendor Invoice creation screen.
    2. Make sure to update the AP Account to be the credit card Accrual Account created earlier.


  3. Under the Vendor Invoice Details, add the approved PO lines. When the information is complete, Post each Vendor Invoice.

  4. You will now be able to see the Vendor Invoices on the Accounts Payable Aging report.


  5. When you receive the credit card statement, you will process payments for each vendor on the statement.


  6. Navigate to Financials > Accounts Payable > Bulk Vendor Payment Creation. Filter by the Accrual Account you charged and enter the appropriate Vendor Payment Creation Attributes at the bottom.

  7. Click on List, check all the Vendor Invoices that were on the credit card statement, and click Create Payments.


  8. After creating the payments, go back and Post each Vendor Payment as well.

  9. Next, create a Vendor Invoice for the credit card company.
    1. No Purchase Order # is needed.
    2. Leave the AP Account as the standard Accounts Payable Account.

  10. You will now be able to see the credit card Vendor Invoice on the Accounts Payable Aging report, instead of the Vendor Invoices from the individual vendors in each transaction.


  11. Create a Vendor Payment for the credit card company and Post.

  12. Go to Financials > General Ledger > Bank Reconciliation. Filter by the credit card Bank Account.

  13. Add Bank Reconciliation and enter the statement details from the credit card statement. Select each of the transactions on the Checks & Credits page and click Reconcile.


Additional Information

KC - Unanet Purchasing Configuration and Usage Guide


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