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Article ID: 4149

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:

 

http://secured.progoldi2.com

 

          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


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