Reconcile Credit Card Statements that Contain Imported Charges

Compare your credit card statement charges that have been imported into Vision with the charges that have been entered in Vision through employee expense reports and AP disbursements to reconcile discrepancies and missing charges in Vision.

Prerequisites: These instructions apply if you import charges into Vision 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 Vision; 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, complete the following steps:

1. From the Vision Navigation menu, click Accounting > Credit Cards > Credit Card Reconciliation.
2. On the Credit Card Statement Selection dialog box, select an in-progress statement, and click Select.
3. If you want Vision to automatically clear any charge posted in Vision that has a corresponding imported charge, on the Credit Card Statement Selection dialog box, select the Autoclear imported charges with entered charges based on Transaction ID check box. The Cleared check box will be selected automatically on the Charges tab of the Credit Card Statement Reconciliation form for these items.
4. On the Summary tab of the Credit Card Statement Reconciliation form, complete the following actions:
   1. Enter any finance charges or monthly fees for a credit card statement in the Additional Balance field.
   2. Review the cleared and uncleared totals to determine whether entries are missing in Vision and which secondary credit cards need attention to reconcile.
   3. 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 your credit card statement balanced with the entries in Vision.
5. On the Charges tab, review the charges in the Credit Card Charges grid and select the Cleared check box for any charge posted in Vision 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 Vision and it also has a posted transaction entered in Vision 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 Vision 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 in the Details dialog box for a charge.
6. After all credit charges on the Charges tab have been cleared, if you use cash-basis accounting, you can create a journal entry for the company-paid expenses on the Create Journal Entry tab.
7. After all credit card charges on the Charges tab have been cleared and the reconciliation is complete, click the Closed check box on the Main tab of the Credit Card Statement Reconciliation form. The statement date no longer displays in the list of in-progress statements on the Credit Card Statement Selection dialog box when you click Accounting > Credit Cards > Credit Card Reconciliation. You can re-open a closed statement by selecting Closed in the Statement Status field on the Credit Card Statement Selection dialog box, and then clearing the Closed check box on the Main tab of the Credit Card Statement Reconciliation form.
8. Click Save on the toolbar.