Dynamics GP Credit Cards
June 07 |
Microsoft Dynamics GP Credit Cards: Before you can enter a payment or deposit received from a customer or record a payment to a vendor via a credit card, you must set up your Company Credit cards that you can process as a Credit Card Merchant.
Go to Administration | Setup | Company | Credit Cards to set up the cards you can Accept from Customer and Use for your company to pay Vendors.
Microsoft Dynamics GP Credit Cards: You can track information about credit cards that are accepted from customers and cards that are used by your company. The same card can be used for both purposes.
Use the Credit Card Setup window to set up information about each of the credit cards that your company uses.
If, after beginning to use your accounting system, you need to update or remove any of the credit cards, you may do so at any time. Existing transactions that were paid using the credit cards won’t be affected by the changes.
Mark whether this Credit Card Name will be Accepted from Customer and / or used by your Company to make purchases.
If Accepted from Customers, you must choose if it is a Bank Card or Charge Card
Bank Card: Mark this option if payments made to your company with bank cards are treated as check or cash payments.
Charge Card: Mark this option if payments made to your company with charge cards must be collected from the company issuing the card before they can be considered received.
If Used by Company, you must specify if Credit Card or Check Card
Mark this option if the card you’ve entered is used by your company to make payments.
Credit Card
Mark this option if your company uses the card as a credit card, and you pay the credit card company for the goods and services your company purchases with the card.
Vendor ID
Enter a vendor ID that identifies the credit card company as one of your company’s vendors. This field is available if the Used by Company and Credit Card options are marked.
Check Card
Mark this option if your company uses the card as a check card. This way, the amount of the purchase or payment is automatically withdrawn from your company’s bank account.
Checkbook ID
Enter a checkbook ID that identifies the checkbook you use to track bank card or check card payments. This field is available if the Accepted from Customers and Bank Card options, or the Used by Company and Check Card options, are marked.
Information in this article is from the Microsoft Dynamics GP Help text with screenshots.
If you have questions regarding setting up and using Credit Cards in Dynamics GP, contact us at: support@isolutionspartners.com.
Here is a link to a Microsoft Support article: Information on credit card processing in Payables Management in Microsoft Dynamics GP https://support.microsoft.com/en-us/help/970112/information-on-credit-card-processing-in-payables-management-in-micros
See our previous article about GP-Posting Invoices to a Credit Card Vendor: https://www.isolutionspartners.com/2014/05/06/gp-posting-invoices-credit-card-vendor/
