Overview
Processing Credit Card transactions is as simple as recording the Credits every time the card is used, and recording the Debits every time a payment is made to the Credit Card company.
Prerequisites
Create a Ledger account for the Credit Card Liability
a. Ensure it is a Liability Account.
b. Ensure it is a Payment type = Credit Card
c. Ensure it is checked for Reconciliation.
Create a Vendor for the Credit Card Supplier
a. Assign the Liability Ledger created above as the Vendor's default GL.
Instructions
Basic Credit Card Processing Video
If you are unable to view the video above, please click HERE
Credit Card Misc Charges and Reconciliation Video
Screenshots to accompany the Credit Card Processing Basics:
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Training-v22b-20220613BG-KB