Expense Receipts with Corporate Cards: Implementation Activity

This activity will walk you through the process of creating the necessary entities for the processing of expense receipts with corporate credit cards.

Story

Suppose that the construction site workers of the ToadGreen company can use a corporate credit card for charging their business expenses. Acting as a system administrator, you need to prepare the system for payments by corporate credit card, and give Ricky Thompson the ability to pay in this way.

Configuration Overview

In the U100 dataset, the following tasks have been performed for the purposes of this activity:

• On the Enable/Disable Features (CS100000) form, the Expense Management feature has been enabled on the Enable/Disable Features (CS100000) form.
• On the Entry Types (CA203000) form, the BANKFEE entry type has been added.
• On the Employees (EP203000) form, the EP00000032 (Ricky Thompson) account has been created.

Process Overview

You will first create a GL account to be used for the credit card payments on the Chart of Accounts (GL202500) form, and create the corresponding cash account on the Cash Accounts (CA202000) form. You will then create a payment method for the card on the Payment Methods (CA204000) form. Finally, you will create a corporate credit card on the Corporate Cards (CA202500) form.

System Preparation

Launch the MYOB Advanced website, and sign in as an administrator by using the gibbs username and the 123 password.

Step 1: Creating a GL Account for a Corporate Card

Create a GL account as follows:

1. Open the Chart of Accounts (GL202500) form, and on the form toolbar, click Add Row.
2. In the new line, create an account with the following settings:
   • Account: 29000
   • Account Class: OTHCURLIAB
   • Type: Liability
   • Description: Corporate Credit Card
   • Post Option: Detail
3. On the form toolbar, click Save.

Step 2: Creating a Payment Method

To create a payment method for the corporate credit card, do the following:

1. Open the Payment Methods (CA204000) form, and click Add New Record.
2. In the Payment Method ID box of the Summary area, type CORPCC.
3. In the Description box, type Corporate card payment method.
4. Make sure the Use in AP check box is selected.
5. Clear the Use in AR check box (because this payment method will not be used for customer payments).
6. Clear the Require Remittance Information for Cash Account check box (because remittance information is not required for this payment method).
7. On the Settings for Use in AP tab, specify the following settings:
   • Not Required (under Additional Processing): Selected

     With this option button selected, payment documents created with this payment method do not require additional processing, such as printing checks.

   • Require Unique Payment Ref.: Cleared

     This indicates that the unique payment reference number is not required for each payment document created with this payment method.

8. Save the payment method.

Step 3: Creating a Cash Account

Create a cash account as follows:

1. Open the Cash Accounts (CA202000) form, and click Add New Record.
2. In the Summary area, in the Cash Account box, type 29000, and specify the following settings:
   • Account: 29000 - Corporate Credit Card
   • Branch: TBGROUP
   • Requires Reconciliation: Selected
   • Restrict Visibility with Branch: Cleared
   • Use for Corporate Cards: Selected
   • Reconciliation Numbering Sequence: CARECON
3. On the Payment Methods tab, click Add Row, and in the Payment Method column, select CORPCC.
4. On the Entry Types tab, click Add Row, and in the Entry Type ID column, select BANKFEE.
5. Save the created cash account.

Step 4: Creating the Corporate Credit Card

To create the corporate credit card, do the following:

1. Open the Corporate Cards (CA202500) form.
2. In the Branch box, make sure the TBGROUP branch is selected.
3. In the Name box of the Summary area, type USD Corporate Card.
4. In the Card Number box, type the following card number: 7890.
5. In the Cash Account box, select 29000 - Corporate Credit Card.
6. On the table toolbar, click Add Row, and select EP00000032 (Ricky Thompson) in the Employee ID column.
7. On the form toolbar, click Save.

You have configured the needed entities to give an employee the ability to pay by using a corporate credit card.