I've been asked to input historic data onto Sage 50 for a client.
Thay have 4 on the road engineers who each have a company Credit Card.
I'm looking for a 'streamlined' way of dealing with the monthly receipts for them all.
The Sage rep who came in advised me to set up each credit card as a 'supplier' (account code starting with a Z so they appear at the bottom of the list)
and then said to individually input each receipt for each engineer to that account.
He explained this is the best practice as it removes the need to do inter account bank transfers... as the credit card bill instead can be paid the same way as a supplier via BACS/Cheque etc instead... and to post the actual Credit Card statement using T9 as the invoice for charges and interest...
Does anyone else have a better method to consider???... or does this sound like the ideal way forward???
Obviously the end result is down to you but we also make purchases using our company credit card. We process invoices in the normal way by just entering them on to the system. The credit card amount is taken from the bank by DD and the invoices are allocated off against this DD payment. The only thing is you have to remember which invoices are to be paid by CC and which are paid by Cheque/bacs. I've not looked to see if there are different payment methods in Sage 50 that you could put against the suppliers.
Hope that makes sense/helps you to make a decision.
Thanks for your input Elaine... Obviously the usual way is to set up each credit card card as a bank account, then do inter account transfers etc... Just wondered if anyone else had put the credit card cards on as 'suppliers'... as this would be a new way of processing for me... some how it seems more straight forward!?!...
