@Mary Jo Krueger Thank you for your reply. I am not sure I agree with Sage's "working as designed", particularly when the credit card is charged during SO entry and updated to the GL after the sales journal is updated. I see the business logic if the CC is entered during AR cash receipts. I know there are service fees that reduce the cash receipt however they should be accounted for in payment type maintenance. It would be nice if there were an option to post to the bank rec. There is are timing differences which could be an issue at the end of the month. Timing difference could be reconciled by flagging the CC transaction in the bank rec as a deposit in transit, similar to a deposit that is mailed but hasn't cleared the bank.
I know many companies prefer using a clearing account to accumulate CC transactions. Some companies may prefer to avoid this step and post directly to cash. It wold be nice if this method were an option.
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Doug Higgs
Assistant Technical Support / Building Maintenance Specialist
Midwest Commerce Solutions, Inc
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Original Message:
Sent: 10-23-2019 08:53
From: Mary Jo Krueger
Subject: Paya Transactions Don't Post to Bank Rec
By design CC transactions aren't supposed to post to Bank Rec. When setting up the payment type, you should be specifying a credit card clearing account instead of a cash account. When the funds actually hit the bank account, you should do a cash receipt offsetting the credit card clearing account.
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Mary Jo Krueger
Senior Software Consultant
CLA (CliftonLarsonAllen LLP)
Appleton WI
920-996-1176
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