Credit card transactions from your customers are not automatically updated to your GL cash account and your Bank Reconciliation module. To manually post credit card transactions to GL and Bank Reconciliation, either enter the day-end settlement amount in General Ledger Transaction Journal Entry, or enter the day-end settlement amount in Accounts Receivable Cash Receipts Entry. The method you choose will determine your options for reporting these transactions.

Entering the day-end settlement amount in General Ledger Transaction Journal Entry

Using this method, your record of credit-card deposits will be under the Source Journal you use for these transactions. Using a unique source-journal will allow you see a concise report of these entries. Your record of deposits can be viewed via GL Source Journal Maintenance on the GL Setup menu, Source Journal History report on the GL reports menu, Reprint Journals on the GL reports menu, or as a report selection option on the various GL Detail reports.
Using the Accounts Receivable Credit Card Settlement Report, determine the day-end settlement amount.
Select General Ledger Main menu > Transaction Journal Entry.
In the Transaction Journal Entry window, at the Source Journal field, enter a source journal that will be tied to Bank Reconciliation (if you have not done so, you can create a new one on the fly). At the Entry Number field, enter a number to identify the journal entry. Click Format.
In the Transaction Journal Format window: At the Offset Account No. field, select your cash account.
At the Offset field, select Credit.
At the Transaction Type field, select Deposit.
At the Bank Code field, select the appropriate bank code and click OK.
On the Transaction Journal Entry Header tab, enter the posting date and journal comment.
At the Bank Code field, select the appropriate bank code.
On the Lines tab, enter the Doc Refer, Date, and Comment fields.
At the Account No. field, select the Asset account that was entered at the Asset Account field in A/R Payment Type Maintenance (See AR Setup Menu).
Note If the Asset Account field was left blank in the Payment Type Maintenance window, the Customer Deposit account entered in Sales Order Options displays at the Account No. field.
At the Amount field, enter the day-end settlement amount and click Accept.
When the Transaction Journal update is performed, the Asset account is credited with the deposit amount and the money moves from the Asset account to the associated Cash account. A Deposit entry will appear in the Bank Reconciliation for that bank account.

Entering the day-end settlement amount in Accounts Receivable Cash Receipts Entry

When using Cash Receipts for posting credit-card transactions, your record of credit-card deposits will be included in the Cash Receipts Report on the AR Reports menu (with all other Cash Receipts) or they can be tracked by viewing the GL detail transactions for the Asset Account used.
Using the Accounts Receivable Credit Card Settlement Report, determine the day-end settlement amount.
Select Accounts Receivable Main menu > Cash Receipts Entry.
In the Cash Receipts Deposit window:
Enter the deposit number, bank code, and deposit date.
At the Cash Deposit Amount field, enter the day-end settlement amount and click OK.
In the Cash Receipts Entry window, enter the customer number.
At the Deposit Type field, select Cash.
At the Check No. field, type DEPOSIT.
On the Header tab, at the Amount Received field, enter the day-end settlement amount.
On the Lines tab, at the G/L Account field, select the Asset account that was entered at the Asset Account field in Accounts Receivable Payment Type Maintenance. Note If the Asset Account field was left blank in the Accounts Receivable Payment Type Maintenance window, the Customer Deposit account entered in Sales Order Options displays at the Asset Account field.
At the Amt Posted field, enter the day-end settlement amount.
When the Cash Receipts Journal update is performed, the Asset account is credited with the deposit amount and the money moves from the Asset account to the associated Cash account. A Deposit entry will appear in the Bank Reconciliation for that bank account.

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