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

Scenario Three:Client pays the agency with cash or check; the invoice is issued as closed with the agency credit card.Option One: The payment from the client creates the Vendor Liability used to reconcile the agency credit card.1. Create sales invoice, the Submit To is Supplier.2. Close the client side of the invoice with Payment Method of Credit Card (Agency credit card).3. Enter the payment received from the client using Profile Type of Other:a. When you are entering the payment using Profile Type of Other, you can create an “other” profile for theclient.b. Or you can create one profile that you use every time the agency credit card is used.4. When prompted for a journal entry, credit the Liability account “Vendor Payments on Agency CC”Page 9 of 25 7/31/2009