Sage 100

Robert, Interesting post. http://www.linkedin.com/groupItem?view=&gid=1644357&type=member&item=137623901&qid=d681612e-d451-4769-91dd-b191071b3a1e&trk=group_most_popular-0-b-ttl&goback=%2Egde_1644357_member_130421405%2Egmp_1644357%2Egde_1644357_member_137844802%2Egmp_1644357 Can you elaborate on how to use the BR for credit cards. I am not seeing your vision.

I have the same feeling as you Jeff. @RobertWood , how would you create a bank code to track cc charges?? Don't you have to enter them as AP invoices, which are non-bank code specific? And if you pay them out of a different bank code, how would you reconcile your actual bank account??? I'm totally lost.... (I'm sure I'm missing something but if you have something, please share.)

First you setup a credit card payables account if you don't already have one. Then you create a bank code for each credit card (and if you have more than 26 bank accounts and/or credit cards, obviously this won't work. When you get a receipt, you enter it in manual check entry to the correct vendor selecting the proper bank code for that card. When you get the credit card statement, you reconcile it like you would any other bank rec and enter any missing items. Enter the invoice to the credit card vendor, making sure to code it to the credit card payables account and coding any interest or service fees to the right GL expense account. In many ways it works better than the transfer button. Also if you entered the invoice and paid it after the fact with a credit card, you can enter it as a manual check.

I've only set it up twice this way because the user couldn't get the transfer button in AP.

Wow, thanks for the explanation @RobertWood but since it's close to bed time, I may have to ponder this a bit...

And what do you mean they couldn't get the transfer button in AP???

No matter how many times I explained the transfer button in AP, these two people couldn't figure out how to use the transfer button to enter invoices paid by credit cards.

LOL - totally understand! Thanks again!

Please do!

I may have to blog it.

I've had a customer do it similarly - but on the AR side for receipts and used a separate ""cash"" to be sure all charges were credited on their statement.

I haven't posted anything in over a year. It's sad. I posted it: http://www.ddfcgi.com/how-to-track-reconcile-credit-cards-using-bank-rec-in-sage-erp-100-fka-mas-90-200/

The method was largely inspired by how BusinessWorks does credit cards. You setup a terms code for each credit card. When you enter an invoice paid by credit card, you select the terms code for the proper credit card and it automatically gets transferred to the CC vendor.

@WayneSchulz I've done that before too. It works almost like a cash register in retail. I may not have worked in the food industry, but I did my turn in retail.

I think I get it! Wow, seems like a stretch but I can see where it would work. I'll contact you next time I see a fit... :)

Think about what a pain it is when the credit card statement comes in and you're trying to figure out if an invoice is already in there or not.

Oh, OK. I guess I've been doing something similar for a number of years, just haven't used the BR. What I don't like about the CC transfer button is what to do with the paperwork from the vendor that you paid a credit card. Would you file it with the original vendor paperwork or with the credit card statement. So I set up bank code ""Z"" for credit card payments. The cash offset credit account is called credit card clearing and is listed directly under accounts payable.in the COA. I have vendor term codes set up for each credit card. I pay these CC invoices once a month against bank code ""Z"" I modified the AP check form to print a text box with the words ""Void, Void, Void Credit Card Bank Account"" if bank code Z was used. Print the check to the original vendor and file the paperwork in the vendor file. When the credit card statement arrived (actually downloaded into Excel and then distributed using a pivot table), I code the vendor credit charges to the credit card clearing account which is zero when all is correct. Actually, Robert and I are using the same process. The main difference is that he is cutting a check for every invoice (I do one a month to reduce papework) and he uses the BR to account for the individual charges. I have client that struggles with this process mainly due to their volume. Will review the process with them. They may want to use the BR to simplify their process.

That's part of the reason I have them post it using manual check entry. That way there is no way for them to accidentally cut a check. No matter how good of a job you do, someone will eventually choose one of those invoices to pay regardless of what you do.