About using multiple cards for multiple card users

This topic explains how to set up and pay off a credit card in the following circumstances:

  • You have many credit cards attached to one account number.
  • Your credit cards are used to pay off bills and point-of-sale transactions.
  • You download a statement in spreadsheet format that you use to code expenses to GL accounts and dimensions.
  • Your goal is to create a CSV file of transactions.

Create credit card accounts

Manually create a credit card record in Sage Intacct or import card information in a CSV import file.

Specify a Credit card offset account and Vendor ID for each card. A credit card offset account accumulates transactions as they’re entered and records them as a liability. Credit card transactions affect the Vendor aging report and the AP ledger report.

Pay bills via credit card

Pay bills using your credit card on the Pay bills page. After you pay bills, create a charge payoff to pay off the credit card charges. A charge payoff creates an Accounts Payable bill that contains the charges.

Funds transfers are not supported as a method to pay off credit card charges.

You can set up your vendors to have Credit card as their preferred payment method on the Payment information tab of the Vendor record. Then, on the Pay bills page, filter for just those vendors.

Upload point-of-sale transactions from statements or receipts

In addition to paying bills with your credit card, you might be making payments outside of Sage Intacct. If you have multiple credit cards with multiple card holders, you might find it easier to obtain a downloaded statement of all accumulated charges. This statement typically shows you these transactions as a credit to an accrued liability account. You can then upload these transactions from statements or receipts directly into the General Ledger.

Uploading transactions to the GL means that transactions do not appear in Cash Management. To pay off these charges, create a charge payoff. A charge payoff creates a bill containing the accumulated charges that you then pay on the Pay bills page.

  1. Contact your bank for a statement in spreadsheet format, which you can use to code expenses to GL accounts and dimensions.
  2. Ensure that the downloaded statement follows the formatting of the General Ledger journal entries template on the Company setup checklist.

  3. Select the point-of-sale transactions to upload.

    Only include the point-of-sale transactions. Do not select any transactions that were made by paying bills.

    On the Journal entries page, select Import transactions on the top of the page.

Pay off the credit card

After you pay your bills and upload point-of-sale transactions, you can pay off your credit card. Create two separate bills, one that equals the total transaction used to pay bills and one that equals the total point-of-sales transactions. These two bills added together should equal the amount of your credit card statement.

  1. Pay off the charges made by paying bills.

    1. Create a charge payoff in Cash Management to push the charges to Accounts Payable. This process debits the credit card liability account tied to importing transactions and credits Accounts Payable. Creating a charge payoff creates a bill.

    2. Pay the bill as usual through the Pay bills process.

      Select the credit card charges to pay off by converting them to an Accounts Payable bill on the Charge payoffs page. Pay the bill in your normal bill payment workflow.

      Convert the charges to an Accounts Payable bill

      Create or import credit card transactions.

      • Import credit card charges
      • Use credit cards as a payment method in Accounts Payable
      • Accounting impact:
        • Debits expense account
        • Credits credit card liability account

      Create a charge payoff.

      • Select credit card transactions to payoff on the Charge Payoff page.
      • Creating a charge payoff creates an Accounts Payablebill.
      • Accounting impact:
        • Debits credit card liability account
        • Credits Accounts Payable

      Pay the bill in Accounts Payable.

      • Pay the bill on the Pay Bills page
      • Accounting impact:
        • Debits Accounts Payable
        • Credits cash account

  2. Pay off point-of-sale charges.

    1. Within Accounts Payable, enter a single line-item bill for the total amount of the charges imported into the GL.

      This debits the accrued liability account tied to importing transactions and credit Accounts Payable.

    2. Pay the bill as usual through the Pay bills process.