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Subject: Using Credit Card as Payment on an Accounts Payable (A/P) Bill
Last Modified: August 8, 2013
Applies to: Pro Gold i2 2.0, 3.0
Issue: Item or service is procured and entered as an A/P bill under the Enter and Pay One Bill Icon on the Payables Tab. These items are typically paid by check or electronic payment via a banking account which are normally established during the initial setup of Pro Gold i2. If a credit card is be used for actual A/P payments, it must setup as a payment mechanism on the Banking Tab. Moreover, a unique general ledger (G/L) account should be established to capture/record the liability created when using the credit card payment method. The credit card payment option is only available under the Accounts Payable Icon on the Payables Tab and requires a company subscription to Top Google Ranking Module.
Resolution: Actions required: Setup a credit card as a payment mechanism and make payments
• Step 1 Setup credit card as a payment mechanism
- Enter/verify the credit card liability G/L account to be used in your chart of accounts
- Go the main Banking Tab
- Select the Credit Card Setup Icon
• If blank, enter appropriate information and assign G/L for credit card liability
• If not blank, select New button enter appropriate information and assign G/L for credit card liability
- Credit Card is now established as a payment mechanism
• Step 2 Setup default credit card payment account
- Go the main Setup Tab
- Select the Change Company Info Icon
- Go to the dropdown for Default Credit Card Account field
- Assign desired credit card account
• Step 3 Make payments with credit card (Only available under the Accounts Payable Icon on the Payables Tab)
- Select Accounts Payable Icon on the Payables Tab
- Select vendor to be paid in the dropdown in the upper right portion of the Visual Payables screen
- Select Credit Card under Payment Option fields just below the dropdown in the upper right portion of the Visual Payables screen
- Select credit card account to use for payment
- Enter/verify amount to be paid in the amount field of the blue payment screen
- Allocate payments to invoices
• Apply individually by selecting the Gold Coins Icon on each bill until payment amount is fully allocated
• Select Auto Allocate button automatically allocate payment amount
- Select Apply Payments button to make payment
- Select OK button at Payments Applied screen
- Select Done button to close the Visual Payables screen
- Return to area/process where the error occurred and retry your event
• Step 4 Assign the credit card liability G/L to A/P bills that contain credit card payment transactions
- You will need to assign the credit card liability G/L vice an expense G/L account to the portion (i.e., amount) of the credit card bill that was paid in Pro Gold with the credit card
References: Below is a link you can use to access Enhancement HelpNet Center resources, which includes the Knowledge Base Article (KBA) Library, Pro Gold i2 Documentation, and Training Webcasts:
• The Enhancement HelpNet links are located on the right side of the web page.
Related articles: N/A
Keywords: Accounts Payable, A/P, Credit Card, Apply Payment, 4149