Expenses with Corporate Cards: Generated Transactions

As you process expenses paid with a corporate credit card, you create and process bills and payments. To update vendor balances, the system generates the GL transactions described in the following sections.

Transaction Generated for a Bill Paid with a Corporate Credit Card

To process a bill paid with a corporate credit card, you process the bill as usual. The system generates the following general ledger transaction:


Account	Source of Account	Debit	Credit
Accounts Payable	AP Account specified for the vendor on the Vendors (AP303000) form	0.00	Amount
Expense account	Account specified in the Account column for the document line on the Details tab of the Bills and Adjustments (AP301000) form	Amount	0.00

You can view the reference number of the GL batch on the Financial tab of the Bills and Adjustments form.

Transaction Generated for the Bill Payment

When you process the payment that uses the corporate credit card, the system generates the following general ledger transaction:


Account	Source of Account	Debit	Credit
Accrued liability account	GL account linked to the cash account that represents the corporate credit card account in the system and which is specified in the Cash Account box on the Checks and Payments (AP302000)	0.00	Amount
Accounts Payable	AP Account specified for the vendor on the Vendors (AP303000) form	Amount	0.00

You can view the reference number of the GL batch on the Financial tab of the Checks and Payments form.

Transaction Generated for the Bill to Pay the Bank

When you receive a bank statement for the corporate credit card, you create an AP bill in the amount of the statement and specify the accrued liability account as the expense account in the bill. When you process the credit card bill, the system generates the following general ledger transaction:


Account	Source of Account	Debit	Credit
Accounts Payable	AP Account specified for the vendor on the Vendors (AP303000) form	0.00	Statement amount
Accrued liability account	Expense account specified for the vendor that represents the bank in the Expense Account box on the Vendors form	Statement amount	0.00

You can view the reference number of the GL batch on the Financial tab of the Bills and Adjustments (AP301000) form.

Transaction Generated for Payment of the Credit Card Bill

When you pay the credit card bill, you process an AP payment for the credit card bill from the cash account you use to pay for the credit card (such as a checking account). When you process the payment, the system generates the following general ledger transaction:


Account	Source of Account	Debit	Credit
Checking account	GL account linked to the cash account specified in the Cash Account box on the Checks and Payments (AP302000)	0.00	Statement amount
Accounts Payable	AP Account specified for the vendor that represents the bank on the Vendors (AP303000) form	Statement amount	0.00

You can view the reference number of the GL batch on the Financial tab of the Checks and Payments form.