Entering Credit Card Statements

We currently enter each individual charge as an A/P invoice, pay each one via the Credit Card liability G/L account, and then pay the statement (& internally reconcile monthly). What we would like to do is download the credit card statement in a way that would post each individual charge to the proper business partner. Has anyone had any success with this?

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  • Hi Ellie,
    Yes! We've been doing that for 3 years. There are some definite pros and cons to this process and it works better for some things than others. We used to do it for all our credit cards transactions, but we found it's more useful for production purchases than sales rep credit card charges (due to recurring business partners vs. one-offs). Here are the basic steps:
    1: Build an excel template for mapping current month credit card lines to GL accounts and Business Partners (uses excel vlookup functions)
    2: Set up a template in the Document Import interface, and import the transactions into Obeer using the Purchase Invoice doc type.
    3: Unfortunately, you still have to use the payment wizard to mark these paid.

    Over the years, we've found that this can be time intensive, and provides real value in some instances, and limited value in others. For users who this provides little value, we export the credit card transactions into a template that feeds into the Expense Import interface, uploading as a journal entry instead of as a document. This is what we do for sales reps and event staff.

    Feel free to reach out to me directly if you'd like an example of the templates we use. [email protected]

    BTW, this is one of the topics I'll be discussing as a guest speaker at the Obeer user conference in Feb 2019.

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