I have been reading through the “solutions” and “work-around” for inventory items and consumable items on a PO purchased with a credit card. Most of them create quite a few steps in accounting to process and the solutions are dated 12 years ago. Has anyone come up with a process that addresses this issue?
I have tested Purchase Points and unfortunately we are unable to use for non inventory items.
Setting up a bank account labeled “credit card” is a process that involves many more steps that I care to have my staff learn.
The work around that I read involves entering the invoice (which as a credit card purchase accounting does not receive, accounting usually gets a receipt attached to a report without detail), then creating an adjustment to zero out the invoice that was entered when the credit card bill comes in.
Anybody?