Processing Bank Card Transactions

Overview

Bank Card transactions can be processed in a number of ways, these include:

• Upload of Bank Card Transactions
• Manual capture of Bank Card Transactions
• Payment of AP Vendors by Bank Card i.e.processing of Payable Transactions where the pay type selected is "Bank Card" and the subsequent payment of Vendors (using the Payment Selection process) where the Pay Type is "Bank Card". The Bank Card transaction is raised when the vendor is paid
• Addition of bank charges / fees via a quick & pre-determined entry process in the Bank Card Reconcile program (See Bank Card Reconcile)

1. Upload Bank Card Transactions

See article Upload Bank Card Transaction

2. Manual Capture of Bank Card Transactions

Navigation

General Ledger > Bank Card Reconcile

Process

1. Select the Bank Card Account Number from the picklist of Bank Accounts provided
2. Click on "Bank Card Txns"
3. Click "Add" and complete the following information for the bank card transaction line:
   1. Txn Date = Select the date of the transaction
   2. Bank Card Template = Where a pre-defined Bank Card Template was set up (see Bank Card Transaction Template), select the appropriate template or leave as "None"
   3. Expense Account = Where no Bank Card Template was selected, select the GL Account appropriate for the transaction entered. If a Bank Card Template was used, this field will be populated with the GL Account as set in the Bank Card Template
   4. Transaction Amount = Enter the amount of the transaction. If a Bank Card Template was used and a transaction amount was entered in the Bank Card Template, the amount will be populated per the template
   5. Transaction Description = A brief description of the transaction
   6. Payee = The Vendor name associated with the transaction (for e.g. for airfare it may be 'American Airlines')
   7. ODC Code = Other Direct Charge Code, if applicable
   8. Division = The Division associated with the transaction
   9. Project = The project associated with the transaction. The default is "Home"
   10. Dimension values (1-8) = Where dimensions are used / defined, the associated dimension is selected from the picklist displayed
4. If a user wishes to remove an entered line, check the 'Select' box on the line and click on "Remove Selected"
5. Upon completion, click on 'Save' and then 'Close'. The user will be returned to the Bank Reconcile main screen
6. To Post Bank Card Transactions:
   1. Click 'Post Bank Card Txns'
   2. A list of all the entered transactions, both uploaded (per step 1 above) or entered manually (per step 2 above), will be displayed
   3. To post all transactions, check the 'Select All' box and click on "Post Selected Transactions"
   4. To post only selected lines, select the lines to be posted by checking the 'Select' box against each line to be posted and click on "Post Selected Transactions"

3. Payment of AP Vendors by Bank Card

To pay a Vendor using a Bank Card, the Pay type associated with the Payable transaction or Vendor needs to be "Bank Card". A pay type can be assigned to the Vendor, assigned to the payable transaction upon entering the Payable transaction and changing the payment method for a payable transaction to Bank Card.

• To associate the Bank Card pay type to a Vendor - See Vendor Company setup
  • In Vendor Company:
    • 'Pay Type' Field - select "Bank Card" from the picklist 
    • In the Account TAB, the 'Bank Account Name' field - select the Bank Card Account from the picklist of bank accounts
• To associate the Bank Card pay type to a payable transaction upon capture of the payable transaction - See Payable Transactions
  • In the Payment Info TAB:
    • 'Pay Type' Field - select "Bank Card" from the picklist 
    • When Pay Type = 'Bank Card', a "Pay with Bank Card Account" field will be dispayed - select the associated Bank Card account from the picklist.

SEE ALSO