Show/Hide All
Click a question below to view the answer.
When entering an invoice for a credit card vendor (for example, your Visa vendor) at the time of purchase or when processing your monthly credit card statement, you may encounter two scenarios:
You want to apply/track a credit card purchase to another Accounts Payable vendor.
An outstanding invoice already posted to another Accounts Payable vendor exists for the credit card purchase and you want to mark in the system that this invoice has been paid by credit card.
To resolve these scenarios, you need to perform a credit card transfer. There are two types of credit card transfers, a purchase transfer and an invoice transfer.
A purchase transfer allows you to apply/track a credit card purchase to another Accounts Payable vendor (also referred to as the purchase vendor) by transferring the purchase amount from the credit card vendor's invoice to the purchase vendor. Payment history will be recorded for both the credit card vendor and the purchase vendor. For instructions, see Record a Purchase Paid by Credit Card.
An invoice transfer allows you to mark in the system that the outstanding invoice posted to another Accounts Payable vendor (also referred to as the purchase vendor) has been paid by credit card by transferring the invoice amount from the outstanding invoice to the credit card vendor's invoice. Payment history will be recorded for both the credit card vendor and the purchase vendor. For instructions, see Record the Payment of an Outstanding Invoice by Credit Card.
Note If you enter invoices for your credit card vendor at the time of purchase, when you are processing your monthly credit card statement, you can reconcile these invoices with the credit card statement by combining them into the invoice for the credit card statement. For instructions, see Combine Invoices for the Credit Card Vendor into One Invoice.
