How should I handle Credit Cards for AP? [FAQ]

There are 2 ways of handling credit cards from an AP point of view:

Credit Card Connector and Charges

• This feature allows you to set up the credit card in Workamajig and process the charges daily.
• Please refer to the Credit Cards Overview guide to learn more.

Manual Tracking

• This method is outlined below in a detailed and simple process:

Manual Tracking of Credit Card Charges:

The detailed process is as follows:

1. Set up your credit card account as a cash (bank) account in GL Accounts.

2. For the charge to the credit card, enter each transaction as a vendor AP invoice for the vendor company where the purchase was actually made.

3. Select the AP GL account in the main window and the actual expense or COGS account on the line items—charging a project if applicable. Approve and post the invoice.

4. Pay it out of the credit card cash account. Approve and post the payment.

5. When you receive the credit card statement/bill, reconcile that credit card account from the statement.

6. Setup the credit card company as a vendor.

7. Enter the credit card statement/bill as a vendor AP invoice. Select the AP GL account in the main window and the credit card cash account on the line item. Approve and post the invoice.

8. Pay it out of your regular checking account. Approve and post the payment, and you're done.

The simple process is as follows:

1. Setup the credit card company as a vendor.

2. Wait until the credit card monthly statement arrives to enter the charges.

3. Enter the credit card statement/bill as a vendor AP invoice. Select the AP GL account in the main window and the actual expense or COGS account on the line items—charging a project if applicable. Approve and post the invoice.

4. Pay it out of your regular checking account. Approve and post the payment, and you're done.

NOTE: Users can also enter expense reports for credit card charges and set the vendor on the expense report to be the credit card vendor instead of themselves. You will then create the vendor invoice, as usual, and select this invoice for payment to the credit card vendor.