Credit Card Processing for AP
The following document outlines instructions for setting up a credit card account in Nexsyis to record invoices as "Paid By: Credit Card" and reconcile the credit card account statement.
Setup
1. **Can only be done by Nexsyis Support ** Create a credit card account. In Setup, under Accounting, Banking/Cash, select Bank Accounts. Click the New icon to create a new account. Set up as shown:
On the Check Printing tab, check "Allow AP Payments"
2. Create a new A/P Vendor to associate to the account (Vendors / AP Vendors, click New). Use the same name as you assigned to the credit card account. Set up as shown:
3. If you are going to pay invoices in a batch (see below) you will need to assign permission to the account in the operator screen, under the Banks tab:
4. Create an Import Template for Credit Card file and map appropriately. The desired format is a delimited file (either TAB or CSV). If you need assistance with this setup, please send a sample of the file to Nexsyis Support.
Create an A/P Invoice and Pay To: Credit Card
The instructions below are for marking a SINGLE invoice as paid by credit card. If you have paid multiple invoices on a credit card see the instructions for Paying Multiple Invoices on a Credit Card.
1. When you enter an A/P invoice that was paid on the credit card, you will create the invoice for the vendor. On the right, select "Pay To: Credit Card" and select your credit card from the list:
2. When you save the invoice, NEXSYIS will create an entry in the check register marking the invoice paid
3. If you need to change that invoice, prior to it being reconciled on the statement, you will again need to select the credit card from the list on the right (changing the selection from (Paid to a Credit Card) to the correct card. If the paid invoice has been reconciled, you will need to un-reconcile it from the Bank Reconciliation screen, selecting the Check Register tab and search to find the check register record
4. It is likely that you may have A/P invoices entered as Pay to Vendor that actually were paid by credit card. It is not uncommon to have a vendor with several invoices that you want to pay at one time, but don’t want to have to individually mark each as paid by credit card. In this case, you can create an AP Check Batch, select the credit card account as the bank, and select those invoices and process the batch.
Nexsyis will convert group the invoices by Vendor, and create an entry in the Credit Card account check register for each vendor.
Reconciling the Credit Card Account
1. Periodically you will download your credit card statement from the credit card company web site, and import it into the credit card account. Open Accounting [Banking/Cash] / Reconcile Bank Accounts/ Import Bank FIle. The file is imported under the Accounting menu, under the Reconcile Bank Accounts icon, Import Bank File.
2. Open Accounting [Banking/Cash] / Reconcile Bank Accounts / Reconcile Bank Accounts. Select the credit card account from the list at the top. Check the Auto-Match tab for any items that can be quickly auto-matched, before proceeding to the Reconcile Items tab. On the left side you will see items imported from the credit card statement file, and on the right you will see check register items for the invoices you have entered:
3. On the statement side you may see items for payments you have made. If you made an electronic payment on the credit card web site or through your banking software, you will see that coming out of the bank account you paid it from. Nexsyis lets you reconcile the credit card payment against the statement line by treating it as a transfer between accounts. Under the left-most column in each of the accounts, find the item and double-click to show a selection list and select Transfer Between Cash Accounts from the list for each line. On the second account, after making the change, click on the line and you should see the other side of the transfer appear below. Select each item and click the Transfer button to reconcile.