Overview
Bank Card processing provides a formal system for the processing of Bank Card (Credit Card) transactions, reconciling and settlement of the Bank Card liability.
Prerequisites
Before using bank card processing, certain features (GL Account, Vendor, Bank Account, Bank Card Templates) need to be set up. This process is explained in Bank Card Setup.
Processing
Bank Card transactions can be processed in a number of ways (see Processing Bank Card Transactions for more detail), these include:
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Upload of Bank Card Transactions
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Manual capture of Bank Card Transactions
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Processing of Payable Transactions - To pay a Vendor using a Bank Card, the Pay type associated with the Payable transaction or Vendor needs to be "Bank Card". The Bank Card transaction is raised when the vendor is paid.
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Addition of bank charges / fees via a quick & pre-determined entry process in the Bank Card Reconcile program.
Where errors are made or a transaction needs to be reversed, it can be voided / reversed (see Voiding of Bank Card Transactions).
Once all the Bank Card transactions have been processed, the transactions can be reconciled to a Bank Card Statement using the Bank Card Reconcile process.
Settlement (Payment) of the Bank Card balance or part payment of the Bank Card liability can be processed using the Settlement of Bank Card Liability process. When settling a Bank Card liability, a Bank Card Vendor invoice is created and settlement of the Bank Card vendor is made via the standard Payment Selection process.
SEE ALSO
Bank Card Setup
Bank Card Transaction Template
Upload Bank Card Transaction
Processing Bank Card Transactions
Voiding of Bank Card Transactions
Bank Card Reconcile
Settlement of Bank Card Liability
