Question

Credit Card Payments and Received Not Invoiced

  • 10 August 2022
  • 3 replies
  • 254 views

Userlevel 1

We have a situation where any PO that gets paid via Credit Card is manually coded by our accountants based on our monthly statement and then entered via a manual JE.  Problem is, our receiving team has processed receipts for many of these items.

Since the payments are made with a manual JE, no AP Invoice will ever be tied to the Receipt.  → Our Received Not Invoiced Report has a bunch of items stuck in limbo.  And our AP Clearing GL Controls aren’t working as intended.

Has anyone found a solution for this situation outside of simply not receiving the items in?

I was thinking a BPM that references the PO payment type “Credit Card” that would then flag the “invoiced” field.

Thanks,
Anthony


3 replies

Userlevel 2

Anthony, 

We had a similar issue.

First we tried deleting the RNI - this posted a reversing entry that gets posted with Inv/WIP.  This solved the double expense side and RNI report.  But we were losing history and expense/purchase information.

Now:  we post the CC payments to a new bank account.  PO receipts are entered, matched with invoices that go to Accounts Payable, and then Process the payments through the CC account.   At the end of each month the bank account should be zero as a check.

It does require additional AP processing, but no JE’s, and we can track vendor history in Epicor.

 

cch

 

Userlevel 3

Charles is correct.

As a financial consultant, I always recommended that process.  Attached is a quick doc showing the setup of that methodology.

 

Paul

I second that Charles is correct. 

With manual journal entries, only the accountants can really see the transactions and that might not even be to the level you want to see.  You get so much more history (and checks/balances) if you do the CC bank account route.

As for what you have in RNI now and need to clear out, depending on the version of Epicor you have there is a Manual GRNI Clearing function in AP invoice entry (came out in E10.2 I believe).  Prior to that we got fix routines from Epicor.  I’m not sure if they still do that.

Jenn

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