Rather than adding individual invoices to record your credit card statements, you can organize invoices by card number and statement date. You can also upload a PDF or image of your statement.
Setting Up A Credit Card
You can record the specifics of each credit card assigned within your organization. Navigate to [a] Payables, then [t] Credit Card Entry:
Credit Card Details
On this screen, you’ll record the credit card number, which vendor issued the card (i.e. which bank), how cheques will be issued, and which employee holds the card.
Card Number
Enter the unique credit card number
Bank Info
Vendor
The vendor holding the card. You don’t need to create a different vendor for each credit card. Payments will be applied to the vendor, but individual cheques for the specific credit card will be created for each payment you make.
Make Cheque Payable To
When an ‘Automatic’ cheque is issued for a payment on this credit card, the cheque will be created with this on the ‘Payable To’ line.
Interest Rate, Credit Limit, Due On
These fields are used in reports.
Assigned To
Employee
Abio will use payroll information to offer up which job invoices should be applied to. If an invoice is entered for June 4th, Abio will look at where that employee was working on June 4th, and offer up the job with the most hours as the probable job to apply the invoice to.
Restrict Access?
Like payroll and other sensitive information, credit cards can be set up so that only selected users can review them.
Owner PST?
If the card is held by an owner of the company, they may be eligible for PST reimbursement.
Payments
When you’re paying invoices, every payment is directly for a specific invoice. With credit cards, you can make payments that exceed the current balance. Doing this gives the credit card holder more credit to make larger purchases. Click on the Payment tab to record a payment.
Payment
Date
The date the payment was made
Amount
The amount of the payment
Cheque Type
Cheques can be automatically generated and printed based on approved invoices and credit card payments. If you want Abio to generate a cheque for this payment, select cheque type ‘A’. When you issue cheques, any unprocessed credit card payments will be picked up and a cheque will be created for each payment and place on the print queue.
Use ‘M’anual cheques when you merely want to record that you’ve written a manual cheque to pay this amount. Abio will create the cheque, but not put it on the print queue.
Manual Form
Enter the form number from the physical cheque you wrote.
System Generated Cheque
Cheque No
This is the cheque generated for the payment. Clicking on the hotlink shows you the cheque.
Entering Your Credit Card Statement
To enter the details of your statement, navigate to [a] Payables, then [u] Credit Card Statement.
This screen offers you 1 row per item on your statement.
Each row is a condensed version of the invoice entry screen. Once you add a line item, you can click on the ‘view invoice’ link to see the line item in more detail.
Purchases entered on credit card statements are marked as fully paid. There’s no need to go through the approval process for these items.
Pulling In an Unpaid Invoice
What if you’ve entered an invoice for a purchase and one of your field staff use their credit card to pay for it? This can happen when you’ve issued a purchase order, but haven’t yet sent the payment. Your vendor may insist on payment before allowing other purchases. So, your guy hands over the company credit card to settle up, despite the invoices having already been entered. In this case, Abio gives you the option to pull in any unpaid invoices onto the credit card statement.
In this example, unpaid invoices have previously been entered for ACE Supplies. If you select them as the vendor on an item, the ‘existing invoice?’ field is enabled. If you select ‘Y’es, then a pop-up list is displayed to let you select one of the existing unpaid invoices:
When you select an item, the invoice is included on the credit card statement and marked as fully paid.
U-nattaching an Invoice
Use the ‘U’nattach action if you’ve pulled in an invoice in error. This will put the invoice back to unpaid, and remove it from the credit card statement.
Reverse Calculating Taxes
When you are processing a credit card statement, you may not have the original receipts. Those receipts would have had the unit price and the taxes split out. The statement just shows you the amount after taxes have been applied.
Abio will calculate the amount of the taxes for you. Just enter the gross amount from the statement, into the rate field. If you select one of the basic tax types,
those taxes will be applied to the extended amount.
You can also enter the taxed amount in the rate field and select one of the styles of taxes preceded by a ‘+’. Abio will take the amount you enter in the rate field, place it in the purchase field, and calculate what the original price was based on those taxes.
In this example, the original price would have had to be $178.57 in order to calculate to $200 after taxes.
Defaulting Job/Area/Centre
Typically, you’ll have already recorded payroll hours before you process someone’s credit card statement. Abio uses information from timesheets to guess which job the expense applies to. It looks at timesheets to determine where that employee was working on the date of the purchase, and selects the job with the most regular hours as a default.
Uploading Statement PDF
Stay even more organized by saving the PDF of your bank statement with the statement entries. Images can be uploaded on the third tab of the Credit Card Statement window.
Begin by using the ‘A’dd action to identify what type of document you are uploading.
Once you save the record, you’ll be put into ‘C’hange action, where you can select files to upload. To select files on your own machine, select ‘Network’, then ‘tsclient’:
You can then select files from your local drives for easy reference.
