Options Tab of the Credit Cards Settings Form
Use this tab to enter and view basic information for primary and secondary credit cards.
Contents
Field | Description |
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Credit card search |
Use the Searches drop-down list to find and select the an existing primary credit card to view or edit. To refine the results set, click
Searches to select a standard (Active,All) , legacy, personal (My Searches) or shared search type:
For information about creating and using searches, see the Search Vantagepoint help topics. |
x of x | Use these arrow icons to scroll through the records in the search results and display a different record to display on the form. The numbers indicate which record you are viewing out of the total number of records in the search results. |
+ New Credit Card | Click this option to create a new primary credit card record. |
Edit | Click this button to open all fields in the form for editing. |
Other Actions | Choose an option from the drop-down list:
|
Primary Code | This field is enabled only when you create a new primary credit card record. Enter a code to identify this primary credit card. After you save the setup information for a new credit card, this field becomes a display-only field. To change the primary code, you must set up a new credit card and change the status of the existing credit card to
Dormant. You could also delete the existing credit card if it has not yet been associated with any transactions in
Vantagepoint.
When you import credit card transactions from your credit card company into Vantagepoint, the import is based on the primary credit card, which is comprised of transactions that are associated with each secondary credit card that is set up for a primary credit card. Within Vantagepoint, the transactions for the secondary credit cards are filtered and made available on expense reports for the appropriate employees who are associated with the secondary credit cards. In Credit Card Reconciliation, you reconcile statements based on the primary credit card. If you use multiple companies, the primary code must be unique across different companies. |
Currency | This field applies if you use multiple currencies. From the drop-down list, select the currency for the credit card. This is the currency in which you pay the credit card company. The credit card reconciliation will be in the currency of the credit card.
If the credit card is employee-paid, the credit currency is based on the currency of the imported transaction. The payment currency, however, is based on the functional currency of the employee's home company. |
Payment Type | Select one of the following settings:
|
Status | From the drop-down list, select the status of the primary credit card.
Options are:
|
Import Credit Card Charges section
Field | Description |
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Enable Credit Card Import | Set this option to Yes if you are importing credit card charges. This also enables the Import tab, for the current primary credit card record. |
Separate Import Into Secondary Credit Card By | From the drop-down list, select the field to use in import files that your credit card company uses on statements to identify a secondary credit card account. This field must be included in the import (text) file that contains the credit card statement charges to import into
Vantagepoint. In the import file, this field identifies the secondary credit card that is associated with a charge.
Options in the list are Cardholder Name, Secondary Account Number, and any user-defined fields that you set up on the Import tab. You can use CardholderName if your bank masks the account number in exported files. Other fields that are related to this field:
Examples: If you select Cardholder Name in the Separate Import Into Secondary Credit Card By field, you enter the name of the secondary card holder (for example, William Apple) in the Import Value field in the grid on the Options tab. You must enter the name exactly as it will appear in the file downloaded from your credit card company. You select the Include check box for the Cardholder Name field on the Import tab. When the credit card charges are imported from the bank using the import utility in Credit Card Reconciliation, each record that has William Apple in the Cardholder Name field will be associated with the secondary credit card that defined William Apple as the import value. If you select Secondary Account Number in this field, you enter the secondary account number for the secondary credit card in the Import Value field in the grid on the Options tab. You select the Include check box for the Secondary Account Number field on the Import tab. The account number should be entered exactly as it will appear in the text file downloaded from your credit card company so Vantagepoint can match to the appropriate secondary credit card. |
Map to Expense Report Description | From the drop-down list, select the field that was imported from the credit card statement and will be displayed and posted in the expense report. Options in the list are Merchant Description, and any user-defined field that you set up on the Import tab on the Credit Cards form. |
Secondary Credit Card Grid
Use this grid to enter the secondary credit cards that are associated with the primary credit card. You associate the secondary credit cards with the employees who are authorized to use them. You must enter at least one secondary credit card for each primary credit card.
After you import primary credit card statement information into Vantagepoint from your credit card company, the secondary credit card transactions display on the Expense Report form. Employees can select the appropriate credit card transaction to add to their expense report. Only the credit card transactions that are applied to the secondary account that an employee is authorized to use displays on the Expense Report form for an employee.
Field | Description |
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Code | Enter a code to identify this secondary credit card. You must enter a unique code for each secondary credit card that you enter for a primary credit card. |
Description | Enter a description for the secondary credit card. |
Status | From the drop-down list, select a status for the secondary credit card.
Options are:
|
Company Paid Credit Account | Enter or select a general ledger credit account for the secondary credit card. This account is commonly a liability or an indirect expense account.
You could enter a liability account in this field when one of the following applies:
You could enter an indirect expense account in this field if you consider the expense report postings as a net zero impact on the income statement and you do not expense the expense report transactions until the credit card statement is entered as a voucher. The company paid credit account is used in the following ways:
|
Project | Enter the project for the company paid credit account. If the company paid credit account for the secondary credit card is an overhead account, the project defines the organization. If the company paid credit account for the credit card is a balance sheet account, the project defines the organization if you have separate balance sheets or have multiple companies. |
Phase | Enter the phase for the company paid credit account. |
Task | Enter the task for the company paid credit account. |
Available to AP | Select this check box if you want this secondary credit card to be available for data entry in AP Disbursements in the Transaction Center. When this check box is not selected, the credit card will be available only for Expense Report transactions. |
Expense Report User | Click
Add Users in this field to open the Team Members Assigned to Credit Card dialog box. On this dialog box, select one or more employees who are authorized to use this secondary credit card to pay for company expenses. Entering a team member in this field allows the employee to select the credit card transactions that they paid with the secondary credit card when they enter expense reports. These transactions are loaded into Expense when you import credit card statement information from your credit card company into
Vantagepoint in the Credit Card Reconciliation application.
One scenario in which you would enter multiple employees for one secondary credit card is when an employee who pays for company expenses with a company-issued credit card has an administrative assistant or other staff members enter expense report in Vantagepoint for them. If you have multiple companies in Vantagepoint, you can select an employee from any of the companies in this field, even if the company to which the employee belongs does not have the Credit Card feature enabled. After you select employees in the Employee Assigned to Credit Card dialog box, the Expense Report Users field displays the name of the one employee you selected, or it displays <records selected> if you selected multiple employees. |
Import Value | Based on what you select in the
Separate Import Into Secondary Credit Card By field on this tab, enter the value to use to identify the transactions for this secondary credit card when you import the transactions for a primary credit card into
Vantagepoint (in
).
When you import charges from a credit card statement into Vantagepoint, you are importing the charges from all the secondary credit cards that make up a primary credit card. The value that you enter in the Import Value field must exactly match the value in the credit card file that is being imported into Vantagepoint. |
+ Add Secondary Credit Card | Click this option to add a new secondary credit card entry to the grid. |