Create a negative charge payoff
Related information
Related topicsIf you have negative credit card transactions, you can include them in a charge payoff, even if the charge payoff nets to a negative amount.
Select negative transactions to create a negative charge payoff and a negative Accounts Payable bill. The negative bill acts as a vendor credit which you can use to apply to another payment for the same vendor.
The following table describes the different scenarios for creating charge payoffs for negative amounts:
| Credit card transaction | Line items | Example | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Negative credit card transaction | You can select a negative credit card transaction and create a payoff, which helps you account for a refund or credit correctly. | You receive a refund or return credit for negative ($500.00). You can now create a negative payoff for the ($500.00), which then automatically creates, a bill on the AP side for negative ($500.00). You can then apply the credit on the AP side as needed. | |||||||||
Partial pay of a negative multi-line transaction | You have a multi-line credit card transaction and each line is for a negative amount, partial payoff is not available. Your charge payoff needs to include the entire amount of the transaction. | An error message appears if you have a credit card transaction that includes three negative lines that total ($700), and you try to create a charge payoff for negative ($300). | |||||||||
Partial payoff of an inline credit in a multi-line transaction | There's validation now in place that prevents payoff of only the negative line item in a multi-line transaction that also includes positive amounts. In this scenario, the entire amount of the credit card transaction needs to be paid off. | An error message appears if you have a credit card transaction with three lines, two of which are positive and one of which is a negative ($500), and you try to create a charge payoff for the ($500) only. | |||||||||
Partial payoff of a positive and negative transaction | You can create a partial payoff for multiple transactions at least one of which includes a negative amount. But the partial payment can be made on the positive amount only. | You have two credit card transactions, one has three line items that total $3,500, and the other has one negative line item for ($500). In this scenario, you can make a partial payment on Transaction 1, but not on Transaction 2.
| |||||||||
Zero amount transactions | You can account for single credit card transactions that net to zero. | You have a credit card transaction that has a positive $1,000.00 charge for salaries, and a negative ($1,000.00) charge for contract labor. You create a payoff for the transaction that nets to zero, which then automatically creates a bill with two lines that net to zero on the Accounts Payable side. | |||||||||
Charges for multiple transactions that net to zero | You can select multiple credit card transactions that net to zero and combine them in one payoff. | You have two separate credit card transactions, one for $2,500.00 and the other for negative ($2,500.00). You select both transactions and create a payoff that nets to zero. Likewise, the auto-created bill on the Accounts Payable side nets to zero and includes both the positive and negative lines. |
For multi-entity companies in multiple base currencies, create charge payoffs at the entity level. The charge payoff is recorded in the entity's base currency. Accounts Payable generates the bill in the same base currency as the credit card.
| Subscription | Cash Management |
|---|---|
| User type | Business Employee |
| Permissions | Charge payoffs: Add |
Go to Cash Management > All > Credit card and select Add (circle) next to Charge payoffs.
- Select the Credit card.
- Enter the Charge payoff date.
This date becomes the bill date.
- Enter a filter.
Filter by the Date range in which transactions were entered into Intacct or by the Transaction currency.
Select Apply filters.
- Select the negative credit card transactions.
Select Post.
Next step: Intacct creates a negative bill which acts as a vendor credit to apply on the Pay bills page. Apply the credit to a positive credit card transaction for the same vendor.
