Using an Agency Credit Card for Payments - TRAMS, Inc.

More documents

Recommendations

Info

Note:To reconcile a “Wash” account: Go to General Ledger – G/L Account Reconciliation.• The G/L Account Reconciliation will not affect your general ledger, it is only used to assist youin determining if the account is in balance.Toggle to clear the Debits and Credits that match.Pros and ConsPros: 1. The invoice is “open” and appears on the Client Balance report.2. The amount due to the vendor is “open” and appears on the Vendor Balance report.3. The Back office has control of the Client Receivables and Vendor Payables.4. Since the Net amount is paid to the vendor, you do not need two Bookings (only effects Scenario two)Cons: Without the proper accounting procedures in place (see pages 9/10) the TBO user could make a payment to aVendor on the Vendor Balance report, not knowing that it was already paid on the agency credit card whichwould result in a duplicate payment.Page 6 of 25 7/31/2009
Airlines Reporting CorporationAgent Reporting AgreementSection 80Section VII: Agent’s Authority, General Rights and ObligationsK. In the absence of specific permission of the carrier, the Agent shall not useany credit card which is issued in the name of the Agent, or in the name of anyof the Agent’s personnel, or in the name of any third party, for the purchase ofair transportation for sale or resale to other persons, nor report to the carrier orinclude in its sale report the sale of any air transportation as a credit cardtransaction where at any time the Agent bills, invoices, or receives payment incash from the customer for such air transportation.Note:It is recommended that strict accounting procedures be in place for use ofthe agency credit card for payments to vendors on behalf of your clients.The agency is accepting a liability for the client.A payment should not be charged to the agency credit card unless the clientpayment has been received by the agency.On the next page there is an example of a typical form created for agents to fillout when they use the agency credit card. Using a form helps the TRAMS BackOffice user reconcile the credit card statement each month.Page 7 of 25 7/31/2009
Page 1 and 2: Using an Agency Credit Card for Pay
Page 3 and 4: Section 1 - Using the Agency Credit
Page 5: Scenario Two: A Client pays the age
Page 9 and 10: Scenario Three:Client pays the agen
Page 11 and 12: Time Saving Tip: Use Pay Codes to h
Page 13 and 14: Option Two: A Negative Client Vouch
Page 15 and 16: Pros and Cons: Scenario ThreeOption
Page 17 and 18: Scenario Two: Accounting for expens
Page 19 and 20: Section 3 - Using the Agency Credit
Page 21 and 22: Section 4 - Paying the Agency Credi
Page 23 and 24: To pay the $265.00, but account for
Page 25: NOTES______________________________

Using an Agency Credit Card for Payments - TRAMS, Inc.

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?