Payables & Cash Management

Get Involved. Join the Conversation.

Topic

    Phil Nibert
    Ability to enter credit card payment activity as detailed...
    Topic posted August 21, 2019 by Phil NibertRed Ribbon: 250+ Points, tagged General Ledger, Payables 
    26 Views, 1 Comment
    Title:
    Ability to enter credit card payment activity as detailed activity for suppliers in AP
    Summary:
    Ability to enter credit card payment activity as detailed activity for suppliers in AP
    Content:

    We have had some cases of paying suppliers w procurement cards. 

    Would like to see if the detail of payments made to suppliers can be added to the Oracle AP Sub ledger so that a supplier's account can reflect not only the AP activity processed in Oracle but can also include the proc card activity.

    Tested recording an AP invoice, treating it as a manual payment but expenses and the cash will be overstated.  Can create a journal to offset but seems a long way to get the supplier invoice and payment details into the system.

    Just checking to see if Oracle offers a solution for this.

    Thanks, Phil

     

    Version:
    Oracle Cloud Financials 19B

    Comment

     

    • Greg White

      Here is what we have done:

      We enter the  invoices into AP using the specific vendor on each invoice except for small incidental invoices that we don’t really care to track by vendor (like Lowes, Home Depot, etc).  Invoices are coded to expense just like any other invoice.   We isolate them in the system with a different payment priority than our normal vendor payments.   These invoices can be entered throughout the month as we have the invoices and we know they have been identified as paid by credit card.  You could set up a payment method as credit card clearing if you wanted to.  For the small incidental charges we don’t want to track by supplier, we enter those under the credit card vendor we pay the credit card bill to and code those items to the various expense accounts.  When we get the credit card bill to pay, we match all the items we have entered under the various suppliers and the credit card supplier up to the bill and then do a payment process request using a bank we set up as a clearing bank (we set up a cash clearing bank by using one of our normal banks and account number 99999 and have this going to a clearing GL account.  The payment will DR Trade Payables and CR the clearing account.  We then enter the credit card bill under the credit card supplier and code it to the clearing GL account we used on the payment and pay the credit card supplier as normal.  The “expense coding” on the credit card bill clears the payment of all the various invoices we paid in the payment process request using our cash clearing bank – DR clearing account and CR Trade Payables.

       

      Hope that helps.