Compare your credit card statement charges that have been imported into
Vantagepoint with the charges entered through employee expense reports and AP disbursements to reconcile discrepancies and missing charges.
Prerequisites: These instructions apply if you import charges into
Vantagepoint for a credit card. Before you can reconcile a credit card statement, you must create a new credit card statement for it and import charges from your credit card statement into
Vantagepoint; post expense reports for which employees added imported charges; and post AP disbursements that pay a voucher by credit card.
To reconcile a credit card statement that contains imported charges:
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In the Navigation pane, select
.
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On the Credit Card Reconciliation form, select an existing In Progress credit card statement that you want to reconcile.
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If you want to automatically clear any charge posted in
Vantagepoint that has a corresponding imported charge, on the Credit Card Statement Selection dialog box, click
Autoclear in the grid toolbar of the Charges grid, on the Charges tab of the Credit Card Reconciliation form.
The
Cleared check box will be selected automatically on the Charges tab of the Credit Card Reconciliation form for these items.
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On the Summary tab of the Credit Card Reconciliation form, complete the following actions:
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In the
Additional Balance field, enter any finance charges or monthly fees for a credit card statement.
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Review the cleared and uncleared totals to determine whether entries are missing in
Vantagepoint and which secondary credit cards need attention to reconcile.
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Verify that there is no difference between the statement ending balance (from the credit card statement) and the cleared balance plus the additional balance amount. A difference of 0 means that your credit card statement balanced with the entries in
Vantagepoint.
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On the Charges tab, review the charges in the Credit Card Charges grid and select the
Cleared check box for any charge posted in
Vantagepoint that has a matching charge on the credit card statement.
Compare the amounts in the
Imported Amount and
Posted Amount fields in the grid. If a charge has been imported into
Vantagepoint and it also has a posted transaction entered in
Vantagepoint for it (from an expense report or AP disbursement) it will have the same amount in the
Imported Amount field and the
Posted Amount field.
If a charge has been imported, but it has not been added to an expense report or AP disbursements, there will be an amount in the
Imported Amount field, but no amount in the
Posted Amount field.
You can click
Details on the grid to view more information about the charge transaction if the charge has been entered on an expense report or AP disbursement. You can also use the Details dialog box to enter a missing transaction ID if a charge was imported into
Vantagepoint after it was entered and posted without a transaction ID on an expense report. (This applies if you import transactions IDs for a credit card.) You can determine the missing charges that are associated with an in-progress expense report by looking at the
Status field and the details that display on the Details dialog box for a charge.
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If you use cash-basis accounting: After all credit charges on the Charges tab have been cleared, click
to create a journal entry for the company-paid expenses on the Cash Journal Entry dialog box.
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After all credit card charges on the Charges tab have been cleared and the reconciliation is complete, click
.
You can reopen a closed statement by selecting