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Setting up credit cards

Set up a new vendor type as follows:

From the Setup menu, click Vendor Types.
Click the New button.
Enter a description that identifies this vendor type as being used for credit cards. For example, you may enter Credit Cards.
Select the Credit card vendor check box.
Click Save.

Set up a vendor for each financial institution issuing you a credit card. By setting up a vendor, you can then pay the financial institution as you would any other vendor.

On the Vendor window > General tab, in the Vendor Type field, be sure to select the new credit card vendor type that you just set up.

Note:

If you already have a vendor set up for credit cards, change the vendor type for that vendor.

Set up a bank account for each credit card. By setting up a bank, you can then track and reconcile statements.

On the Bank Account window, do the following:

On the General tab, in the Account Type field, select Credit Card. In the Vendor field, select the vendor.
On the Accounts tab, select accounts in the Payable Account, Late Charges Account, and Interest Charged Account fields. By making these selections, you instruct Ajera where to post general ledger entries for these items. Set up a separate Payable account for each credit card.

If your beginning balance trial balance includes balances for credit cards, enter beginning balances for credit cards.

If you are currently entering credit card information through Manage > Vendor Invoices and carrying a balance forward, continue paying the invoice as you go forward.

Start entering new credit card transactions with your next statement through Manage > Bank Register.