AP Disbursements Paid by Credit Card
If you use the Credit Card feature in Vision, you can enter an A/P disbursement to pay a vendor invoice with a credit card.
Configuration
Secondary credit cards that you set up in Accounting > Credit Card Configuration are used for paying A/P disbursements. Only the secondary credit cards that have the Available to AP check box selected in Credit Card Configuration are available for payments in A/P Disbursement Transaction Entry.
Transaction Entry
In A/P Disbursement Transaction Entry, you select Credit Card in the Payment Method field on the New File dialog box when you create the A/P Disbursement transaction file.
On the A/P Disbursements form, you enter the secondary credit card that is used to pay the vendor invoice rather than the bank code. You have the option to enter the transaction ID rather than the payment (check) number.
You can enter a transaction ID for the charge if you are entering an A/P disbursement after the charge has appeared on the credit card statement. This is the transaction ID from your credit card statement. This allows the charge to be reconciled automatically in the Credit Card Reconciliation application if you import charges from credit card statements. If you do not have a transaction ID when you enter the disbursement, you can enter one in the Credit Card Reconciliation application when you reconcile the credit card statement.
Posting
- Debit — The account that is entered for the A/P disbursement in the grid on the A/P Disbursements form is debited.
- Credit — The company-paid account that is specified in Credit Card Configuration for the secondary credit card is credited.
For cash-basis accounting, no accounts are debited or credited because there were no cash transactions. For cash-basis accounting, the A/P disbursements will be included when you create the journal entry in Credit Card Reconciliation.
Multicurrency
If you use multiple currencies in Vision, the payment currency of the A/P disbursement will be the credit card currency that is defined in Credit Card Configuration for the selected credit card.
Voiding a Credit Card Payment
If you need to reverse an A/P disbursement for a credit card payment, you must enter a negative A/P disbursement with the same information as the original disbursement. You cannot void A/P disbursements for credit card payments in Accounting > Void Payment.
Preventing Credit Card Charges from Being Entered in Both A/P Disbursements and Expense Reports
This applies if you import charges from your credit card company into Vision for a credit card. It is possible to add an imported charge to an expense report as well as enter an A/P disbursement for it, thus creating duplicate entries.
When you import a charge from your credit card company into Vision, the charge displays in the Credit Card pane on the Expense Report form in Time & Expense > Expense Report for any expense report user who is authorized in Credit Card Configuration to use the credit card. If the charge was already entered as an A/P disbursement (with a payment method of credit card) or you intend to enter it as an A/P disbursement paid by credit card, to ensure that an employee does not add the charge to an expense report, clear the imported charge on the Charges tab in Accounting > Credit Cards > Credit Card Reconciliation. This prevents it from displaying in the Credit Card pane in Expense Report.
If both an A/P disbursement and an expense report are entered for the same charge, the amount in the Posted Amount field will be double the amount in the Imported Amount field on the Charges tab in Credit Card Reconciliation. To correct this duplication, reverse one of the entries.