AP Question - PO Paid with Credit Card

[jkane (John Kane)]

Yes, I was going to set up my credit card account as a liability but make the standard balance a debit so that it would mimic a “cash” account. When that bank is selected for the payment, the credit will make the balance negative. The bank transfer transaction will add the money back to the cc account and bring the value to 0. I was just thinking that I would need something to enter in the transfer account of the GL control as that is included in both entries.

Can you look at your GL control code and see if there is something in the Transfer context?

[Mark_Wonsil]

@jkane

credit card account as a liability but make the standard balance a debit so that it would mimic a “cash” account.

I believe we just used the current liability account for the credit card. Didn’t mimic anything.

@jkane

Can you look at your GL control code and see if there is something in the Transfer context?

Can you screenshot where you are seeing the Transfer Context?

@jkane

Can you look at your GL control code

This was at a different company. I’m still trying to convince the crew here.

[jkane (John Kane)]

Of course! You’re helping me.

From the GL Transaction hierarchy

From the GL Control Code

[Mark_Wonsil]

Ah, gotcha. I didn’t do that, but this is what I see in the Demo database. Basically, an asset account from the bank to each other “bank”:

[jkane (John Kane)]

Clearing account. This is what happens when non-accountants try to do an accountant’s job.

[Melmoy (Melinda Moyle)]

We run our credit cards pretty much as described above Credit card is a bank account and is reconciled in statement processing. Majority of the transactions on it are entered via a Bank adjustment DMT, or if something is purchased for a Job then a PO,Invoice,Payment entry. Our Transfer account for all Banks Ccrd or not is set to the Suspense GL as it is part of EOM procedures to check this is a 0.00 balance.