Microsoft KB Archive/925627

Knowledge Base

How to pay or charge from multiple employee credit card accounts to a central billing account in Accounting Professional, in Accounting Express, and in Small Business Accounting 2006

Article ID: 925627

Article Last Modified on 10/24/2007

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APPLIES TO

• Microsoft Office Accounting Professional 2008
• Microsoft Office Accounting Express 2008
• Microsoft Office Accounting Professional 2007
• Microsoft Office Accounting Express 2007
• Microsoft Office Small Business Accounting 2006

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INTRODUCTION

This article describes how to pay or charge from multiple employee credit card accounts to a central billing account in the following products:

• Microsoft Office Accounting Professional
• Microsoft Office Accounting Express
• Microsoft Office Small Business Accounting 2006

MORE INFORMATION

A central billing account is a credit card account that is created for a business issue. Each employee receives a credit card. Each credit card has a different credit card number. The business issue receives a monthly statement for the charges that occur on each employee's credit card.

To pay or charge from multiple credit card accounts to a central billing account, follow these steps.

Step 1: Create the central billing account

1. On the Company menu, click New Account.
2. Click Credit Card, and then click OK.
3. In the Credit Card Account dialog box, type the name of the central billing account in the Account Name box.
4. Type the appropriate information in the other boxes.
5. Click Save and Close.

Step 2: Create the employees' credit card accounts

1. On the Company menu, click New Account.
2. Click Credit Card, and then click OK.
3. In the Credit Card Account dialog box, type the name of an employee's account in the Account Name box.
4. Type the appropriate information in the other boxes, and then click Save and New.
5. Repeat steps 2b through 2d for each additional employee's credit card.
6. After you create the last employee's account, click Save and Close.

Step 3: Enter a credit card charge for each employee

To do this, use one of the following methods.

Method 1: Enter a credit card charge without a vendor bill

1. On the Banking menu, click Credit Card Charge.
2. In the Vendor name list, select the vendor from whom you purchase items.
3. In the Payment method list, verify that Credit Card is selected.
4. In the Pay from list, select the employee's credit card account from which you want to pay.
5. In the Items and expenses pane, enter the information for the credit card charge.
6. Click Save and Close.

Method 2: Enter a credit card charge together with a vendor bill

1. On the Vendors menu, click Enter Bills.
2. In the Vendor Bill dialog box, enter the appropriate information. Then, click Save and Close to create a vendor from whom you purchase items.
3. On the Vendors menu, click Pay Bills.
4. In the Pay from list, select the employee's credit card account that you want to use to pay the bill.
5. In the Payment method list, click Credit Card.
6. In the Bills due list, click to select the check box next to the bill that you want to pay. Then, type the value in the Credits box or in the Cash Discount box.
7. Click Save and Close.

Step 4: Transfer the balances from the employees' credit card accounts to the central billing account when the monthly statement is due

To do this, use one of the following methods.

Method 1: Transfer the funds

1. On the Banking menu, click Transfer Funds.
2. In the Date box, type the transfer date.
3. In the Transfer from area, select the employee account in the Account name list that has a balance to transfer.
4. In the Transfer to area, select the central billing account in the Account name list.
5. In the Amount box, type the amount that you want to transfer to the central billing account.
6. Click Transfer.

Method 2: Use the journal entry

1. On the Company menu, click New Journal Entry.
2. In the first line of the voucher, click Financial Account in the Type list. Then, select the central billing account in the Account list.
3. In the Debit box, type the amount that you want to transfer to the central billing account.
4. In the second line of the voucher, click Financial Account in the Type list. Then, select an employee's credit card account in the Account list.
5. In the Credit box, type the same amount that you typed in the Debit box.
6. Click Save and Close.

Step 5: Enter monthly finance charges that are in the central billing statement

1. On the Company menu, point to Company Lists, and then click Chart of Accounts.
2. In the account list, double-click the central billing account.
3. On the Actions menu, click New Transaction.
4. Click Misc. Fee, and then click OK.
5. In the Date box, type the date on which the fee was billed.
6. In the Charge to list, select the expense account in which you want to track the bank fees.
7. In the Amount box, type the appropriate finance charges.
8. Click OK.

Step 6: Pay the central billing account

1. On the Banking menu, click Write Checks.
2. In the Bank account list, select the account from which you want to pay the vendor bill.
3. In the Pay to list, select the credit card vendor to whom you want to pay.
   
   Note If the vendor is not in the list, create the vendor.
4. In the Amount box, type the amount that you want to pay.
5. In the Items and expenses pane, select the central billing account in the Name list.
6. In the Line Total box, type the payment amount that matches the amount in the Amount box.
   
   Note If the amounts are different, you will receive an error message when you click Save and Close. The message states that the Line Total amount must match the check amount.
7. Click Save and Close.

Additional query words: MOA

Keywords: kbhowto kbmbsmigrate KB925627

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