How can I set up a Bank Account in ResMan for a Credit Card?

The video is at the bottom of the page.


You can setup a Bank Account in ResMan for a credit card. You will tie that Bank Account to a Bank GL account and it will normally have a negative balance (until you pay off the credit card balance).

To enter charges:

Option 1

Accounting > Bank Accounts > New Vendor Payment (submenu)

Enter all information about the payment.

Option 2

Accounting > Invoices

Enter and pay the invoice selecting the Credit Card Bank Account 

Option 3

During your bank reconciliation, use the Upload Bank File to retrieve the credit card transactions into ResMan.


To enter payments to the credit card company:

Option 1

If you are wiring money from another bank account, use the Accounting > Bank Account > Transfer (submenu). 

Option 2

If you have to write a check to pay the invoice, code the invoice (or Vendor Payment) to a temporary GL account number.

Then you will need to enter the "payment" for the credit card bank account through either New Transaction or a Journal Entry. You will debit the bank account and credit the temporary GL account used when you coded the invoice.

To reconcile:

You will use the same method as with a regular bank account: Accounting > Bank Account > Reconcile (submenu). 



Video too small? Click the Full Screen link on the lower right of the video!


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