Openpro - Accounts Payable Process With Credit Card Transactions

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=====Accounts Payable Credit Card Setup=====
This guide explains how to setup credit card processing for payables system. There are a few ways this can be done but this is the main way most of our customers process credit cards with payables.

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Two cash accounts must be setup.

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One cash account, make sure the GL points to your actual cash account, for the credit card, It would be recommended to create a specific payables accounts and assign that account here.

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Within the payables class – setup a class for credit card vendors. The expense distribution 1 credit card payables. The expense distribution acct 2 should be the interest expense account.

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When paying vendors with credit card, go to menu manual payment and find the vendor.

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Select the bills to pay, make sure you select the credit card account under Check/Wire Stock, select **Wire** under pay method. Select **POST** when done.

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In general ledger, it will reduce the normal accounts payable and increase the credit card payables as a liability.

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When entering credit card bill, enter the amount charged on line 1, interest on line 2. Post **add** when done.

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This will create a normal payables entry.

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From the general ledger standpoint, this will cancel the credit card payables and enter the interest as expense. This will also increase your normal accounts payable.

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