Recommendations for processing credit card purchases

Overview

The following guide outlines the recommended procedure for processing credit card transactions in Accentis Enterprise. This is a guide only – you may have your own methods and procedures for processing credit card transactions.

Important concepts

Let’s start with some important concepts that are often overlooked when dealing with credit cards:

A Credit Card statement is just another bank statement

A common mistake people make is to treat credit card purchases differently from other purchases where you pay the supplier directly. When you receive your bank statement, you will look at payments made and reconcile that with payments in Accentis Enterprise (which in turn will relate to supplier invoices).

The Credit Card company is not the supplier of goods or services purchased

When you buy petrol from a petrol station, the supplier is the petrol station, not your credit card provider (e.g. VISA, MasterCard). The Credit Card is simply a means of paying your bill. This is the most important concept to understand because it will allow you to ensure consistency in data entry for supplier purchases, whether you pay for them via credit card, cash, direct debit or EFT transfer.