Credit Card Register Reconciliation
In order to keep our credit card registers reconciled I have to export all data into excel, match up the invoices/payments that apply to the current statement that way I know what is in the register that didn't for some reason show up on the statement or I know will be on the next statement. With 4 different credit card companies, and 3-10 cards per company this becomes very tasking to constantly keep track up. Being able to some how reconcile as we can do with a normal bank account register would be nice. We could reconcile after making a payment, checking off all of the invoices that match up to the payment, clearing the payments some how so that the register now only shows the 'new' balance, anything that will end up showing up on the next statement.
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Ashley Peil
- Feb 19 2018
- Future consideration
Related ideas
As part of a credit card reconciliation, it is often the case when the credit card statement arrives that there are charges on the statement that are not currently in the register. (Most charges result in a receipt coming to our office so that an invoice can be created that gets posted to the credit card register, but sometimes people forget to forward along the receipt and the credit card statement is the first we learn about the charge, and we need to now seek out receipts.) It would extremely helpful if it was possible to create missing vendor credit card invoices directly from the credit card register without having to leave the register and open the corresponding vendor record.
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Came to the IdeaBank today to specifically seek out this Idea or create one of my own. Reconciling the credit card register is an essential business function for us. Currently credit card payments just post to the credit card register with no linkage to the charges. There should be some way to apply the payment to the charges so that it is clear which charges have been paid and which ones are still outstanding.
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It's honestly ridiculous that it isn't automatically included. this needs to be available ASAP
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Please add this feature asap! There is really no way to reconcile and there should be one.
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We recently switched from Quickbooks as well and our auditors are not pleased that we do not have the same ability to reconcile. I agree with comment from May 15th. Please give us this ability.
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I agree with the comment from 2022. We recently switched over to FENXT from QB so we could have a system that did true fund accounting. Given the requirements that non profits must adhere to regarding financial policies and procedures, we do need to ensure that there is a system for reconciliation and a process that is being followed. This is standard practice. How can we get an update that this is being considered?
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Having recently switched to Financial Edge from Quickbooks, I've very surprised the ability to reconcile credit card statements is not a current functionality. Please vote to get this added!
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