Set Up a Credit Card Vendor for Purchases
You need to set up a credit card vendor to whom you make monthly payments.
- From the Maintain
menu, select
-
Enter a vendor ID that represents your credit card (for example, VISA).
Note: If your company also accepts credit card payments from customers, you may want to enter a separate vendor ID to distinguish the two types of credit card vendors. For example, for purchases, you might enter VISA_Purch; for sales, you might enter VISA_Sales. This will separate the vendor ledgers and make account reconciliation easier to manage.
- Enter a vendor name that represents the bank or firm of your credit card (for example, First Bank VISA).
- Enter additional information as needed on the General tab. Then, select the Purchase Info tab.
- Select the credit card liability account as the purchase account default.
- When finished entering vendor information, select Save, then close the window.