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Purpose of Program
The purpose of this program is to enter and reconcile credit card payments to the credit card statement.
General Program Operation
Initial Screen
Select a credit card account from the list of available accounts. Credit Cards must be defined as "Banks" in AD-B Checking Accounts Defaults and designated as a "CC" type and assigned to a liability GL Account. They can have a vendor assigned which is who you actually pay the credit card bill to. Enter the date range of the statement you are reconciling.
Editing Screen
When the next screen opens, the top part will display any entries already posted to the selected credit card within the specified date range (perhaps through AP-C as COD payments or previous sessions of this program). These are listed as a reference so they do not get duplicated and are included in the statement total. The lower half of the screen is where you can add or import and edit new records. The required fields are date, amount and GL Account. If a vendor code is entered, then when the entries are posted they will post both to the GL and AP Payables history as a manual check. If no vendor code is entered, they will be posted as a Cash Disbursement entry.
Importing Data
If you can download your statement from the credit card company, it can be imported. The required import fields are date and amount but a description is realistically required so you know what the charge was and can determine the GL Account to assign to it.
Save Button
When the Save button is clicked, there are 3 options displayed. Save Status for further editing, Post, and Exit without saving. Save Status will save the entries in the temporary file where they can be edited at a later date for posting. Exit without saving deletes any new entries made. Post will generate Cash Disbursement entries for all entries with no vendor code defined and AP Manual checks for those with vendor codes. The credit card bill would then be entered as a voucher in AP-B Enter Vouchers posing to the liability account assigned to the credit card in AD-B Checking Accounts Defaults and then the account would be reconciled to 0 using GL-J Reconcile Check Register