Customize Transaction Types for the Accounts Payable System

We pay vendors via corporate card and wire transfers which are recorded as a general ledger journal entry. We would like to be able to capture that activity on the vendor record without having to worry about doubling the expense when we add to the vendor record.

  • Guest
  • Oct 9 2019
  • Already exists
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  • Julia Petit commented
    9 Oct, 2019 06:24pm

    Hi there! We do offer a payment type of Credit Card on invoice records. When selected the invoice will debit your Expense Account and credit a Credit Card liability account. When it comes time to pay the credit card company, you'd create an invoice under that vendor which would zero out the Credit card liability account while crediting your typical cash account. I've provided a link with some more information on the process to help further:

    Hope this helps!