Pay a Credit Card Vendor

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There are several methods you can use in Sage 50 to pay a credit card vendor. When you receive your credit statement, you may elect to not pay the bill right away. You can enter a purchase that includes a line description where the G/L account ID is the credit card liability account. This will debit the credit card liability account and credit your accounts payable account. Later, you can pay the amount owed to the credit card company using an appropriate cash account.

A second method is to enter a direct payment to the credit card vendor. This method is described below.

From the Tasks menu, do one of the following:

Select Payments.
Select Bills and then Pay Bills.

Sage 50 displays the Payments window.

Enter or select the vendor ID that is associated with the credit card company. To display a list of existing vendors, type ? in this field, or select the Lookup button.
If this is a manual (handwritten or previously entered) check, enter a check number in the Check/Reference Number field. If you will be printing the check, leave the Check/Reference Number field blank. If you are recording a payment that was not made with a check, enter a reference number in the Check/Reference Number field that will help you identify the payment in reports and account reconciliation.
Enter or select the actual date of the payment (not necessarily today).
Select the type of payment in the Payment Method field, for example, check or cash. You can click the Payment Method link to add a new payment method, if necessary.
Enter or select the Cash Account that you intend to use to make the payment (for example, Regular Checking).
Select the Apply to Expenses tab. In the first line enter or select the credit card liability account as the G/L account ID.

Note: If you have the Hide General Ledger Accounts global option activated, Sage 50 will not display the G/L account field in this window. To modify the G/L accounts used for this transaction, you must click Journal.
Complete the remainder of the payment, making sure to enter a description that identifies the purpose of the payment. Then, select save the transaction.

This will debit the credit card liability account and credit your cash account.