Vendor payments by credit card

Question

We have three corporate credit cards which we use to charge purchases and to pay vendor invoices. We have been entering all credit card charges on the monthly statement as a single "invoice" with the bank as the vendor. We would like to be able to enter the credit card charges as individual invoices for each vendor. How do we record the payment by credit card, and subsequently raise a cheque to pay the credit card statement balance? Will the payment type "credit card" allow us to do this? And will we be able to reconcile the credit card statement?

JRDN · Accepted Answer

Updated link 
 https://www.advancedapplications.com/sage-300-accpac-training-tutorials/payment-codes-vendor-invoice-payment-credit-card/

Barb Wood · Answer

I was trying to figure out the same thing. I found the video listed below very helpful. 
 www.advancedapplications.com/.../payment-codes-vendor-invoice-payment-credit-card.asp 
 Basically, you create a payment code called XYZCC (XYZ = Visa, MasterCard, etc.) then use payment type other, not credit card. 
 Next you set up an Accounts Payable account for the credit card. (I will be setting up an A/P account for each credit card.) 
 When you enter the vendor invoice in the A/P transactions, use the accounts payable account for that credit card. 
 Then go to A/P payments and use the payment code of XYZCC then pay the vendor. 
 Pay the actual credit card as you normally would.

Sage 300

Vendor payments by credit card

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