Company credit cards can be used for payments of purchasing transactions. Bank payment transactions of company credit cards are recorded and tracked.
The information of the credit card that the company will use for purchasing transactions is recorded by Bank Accounts option of the Finance program part.
Company Credit Card Info
Credit card payment data is recorded to the following fields by using Company Credit Card Info option which is located in the credit card type bank accounts' right mouse button menu:
- Statement Date
- Final Payment Date
- Card Limit
- Card Number
Statement Date: This field contains two parts:
- The first one is the formula part which will be used for calculating statement date. The statement date is given as "Each Month's x day"
- The calculation is done in second part according to numeric values specified at first part. For example, if x= 10; the calculated value will be each month's 10th day in second part. It will be 10.02.2010.
If the date in the date field falls on a Saturday or Sunday, this calculation field calculates to the following Monday.
Final Payment Date: This field contains two parts:
- The first one is the formula part which will be used for calculating final payment date. The final payment date is given as "after x days from statement date"
- The calculation is done in second part according to numeric values specified at first part. For example, if x= 10; the calculated value will be; statement date + 10 in second part. It will be 20.01.2010 if the example above is considered.
If the date in the date field falls on a Saturday or Sunday, this calculation field calculates to the following Monday.
In order to calculate payment plan due date of purchasing transactions, back payment plans are used. The formula defined in back payment plan will be valid when calculating the due date.
Using Company Credit Cards for Purchasing Transactions
Whether payments of purchasing transactions will be done by company credit card or not is specified at Payment Type field located at order/receipt/invoice form's Detail part and or by Payment Transactions option. If it is specified that the payments will be done with credit card in payment plan connected to the AR/AP of order/receipt/invoice or to the material in slip line, this info is transferred to related slip automatically.
In the event of entering payments directly over order or invoice by using payment transactions option, it is specified that the payment will be done by credit card in payment type field and in slip detail window. Credit card usage can be specified only in prepayable orders. When recording purchase order / receipt or invoice, AR/AP "Company Credit Card Slip" is generated automatically. The transactions performed by company credit card can also be entered directly for purchase transactions. For that, Company Credit Card slip is used from among AR/AP slip types.