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Credit Card Invoice Payments Sage 50

Indian banks mainly issue credit card payments. Processing credit card payments is a straightforward process in Sage 50. Many methods are available in Sage 50 for paying the vendor through a credit card. However when you get the credit statement enter the purchase with the line description in which the G/L account ID is referred to as a credit card liability account. If you have already learned about Create Invoices In Sage 50 now its turn to learn about paying the invoice by credit card in Sage 50.

Sage 50 Pay Invoice By Credit Card

How To Set Up Credit Card Accounts In Sage 50?

Before preceding the credit card purchase recording you need to set up certain G/L accounts in the chard of account in the company. Here are the steps to set up a credit card G/L account:

  • Locate the Menu named Maintain
  • Choose the Chart of Accounts tab
  • It will display the window named the Maintain Chart of Accounts
  • Fill a new account ID associated with the liability section of the chart of accounts
  • Enter the account description
  • Choose the Accounts Payable option as the account type
  • Hit the Save button and then close the page

Whenever you are ready to set for Sage 50 Pay Invoice then you have to check out all payments options under the tab before proceeding properly.

Steps for Credit Card Vendor Payments Sage 50

  • You can directly process the credit card payments to the vendor. Here are the instructions:
  • Go to the menu named Tasks
  • Now choose one of the below options:
  • Choose Payments
  • Choose the Bills tab then hit Pay Bills
  • It will appear on the payments page
  • Fill or select the Vendor ID related to the credit card company
  • It will appear on the vendor’s list, enter? In the box or choose the button named lookup
  • If this is a manual check then fill a check number in the field named Reference number
  • For a check printing, leave the field named Reference number/check blank
  • In case you are performing a payment record that was not applied with a check then fill a reference number in the field named Reference number to discover the payments in the window named reports account
  • Fill or choose the payments
  • Click on the payment type in the field named Payment method
  • Hit on the payment method link to embed a new payment method if needed
  • Fill in the payment actual date
  • Choose the payment type in the field named payment method
  • Hit on the payment method link to embed a new payment method if needed
  • Fill or choose the cash account that you need to add to process the payment
  • Choose the tab named Apply to expense
  • Now choose the credit card liability account to enter in the first line as the G/L account ID
  • Next, complete the payment remainder
  • Ensure that you fill a description that discovers the payment purpose
  • Hit the Save button to save the transaction

Do you know even you can do Sage 50 Write Off Bad Debt easily along with Reverse Invoices Sage 50 easily whenever payment mode changes or payments received in part.

How To Set Up A Credit Card Vendor For Purchases In Sage 50?

In this, you require setting up the credit card vendor to perform monthly payments. Here are the steps:

  • Click on the menu named Maintain
  • Choose Vendors button
  • It will appear on the Maintain vendor page
  • Fill a vendor ID with a credit card
  • Write a vendor name representing the credit card firms or bank
  • Fill in the extra information if required on the General option
  • Next, choose the tab named Purchase info
  • Click on the account named credit card liability as to the default purchase account
  • Once completed entering the vendor data you need to choose the Save button and then close the page

Setup Vendor Payments Processing Via Credit Card Sage 50 /h3>
How do You set up a New Payment Method to Process Credit Card Payments to the Vendors?
Here are the steps:

Generate a Payable Account:

  • Locate the chart of accounts you will require to set up a payable account
  • To perform this locate the company module
  • Hit on the drop-down arrow appears to the icon named Chart of Accounts
  • Choose Add Account tab
  • In case there is a default Sage 50 database & chart of accounts and you need renaming or renumbering accounts while setting up the business then select the settings of the subgroup account
  • Hit Save button

Choose the sub-Group Account Settings.

Generate an Expense Account:

  • Find the account named mock Visa Expense in the sample company for a mode;
  • Simply select the subgroup account settings for the Account button & interest expense on the option named Class options

Now connect the payable /Expense Accounts with the below steps:

  • Locate the Setup tab
  • Click Settings option
  • Choose Credit cards below the section named company
  • Next use the section named used for embedding the credit cards that you will access for business to vendors payment with

After this generate the payment with the following steps:

  • Create the payment according to the payment method setup
  • Next, use the drop-down button to choose the payment By tab you required

Help Assistance For Accept Payments Credit Card Sage 50

That’s all for today!  I hope now you can confidently implement the above information for Sage 50 to pay invoices by credit card. The main objective of the post is to simplify the credit card payments in Sage 50 so if you feel any doubts or questions arise in your mind then get connected with a professional team. Use a Sage 50 Chat, phone number, or email address to reach the team.

FAQs – Error , Issues Sage 50 Invoice Credit Card Payments

Can I View The GL Account Field If I Activated The Hide General Ledger Accounts In Sage 50 ?

Yes, the Sage 50 will not appear in the field named G/L account in the window if there enabled the hide GL account. Use this transaction to change the G/L accounts then hit the Journal button

What If I Am Trying To Create A Credit Card Account From Scratch?

  • Use the model sample company database
  • Choose the subgroup account settings for the Account button & credit card payments for the Class options & Account class tab
  • Hit the Save tab once done and then close

How Would I Do The Credit Card Purchases Entering?

  • Locate the Tasks button and then select payments or Bills then click Pay Bills
  • Fill or choose a vendor ID linked to the purchase you need to pay using the credit card of the company
  • Fill a reference number with a reference or check the number field
  • Write or choose the purchase actual date
  • Now choose the credit card for the purchase button in the payment method field
  • If the credit card failed to display then hit on the payment method link to embed it
  • Fill or choose the credit card liability account using the list named Cash
  • Account

  • Next, complete the remaining payments
  • Make sure you fill a payment description with the purchase purpose
  • Hit Save button

What If I Need To Reconcile The Credit Card Accounts In Sage 50?

  • Open the Tasks menu
  • Choose Account Reconciliation
  • Write the liability account for the credit card as the Account to reconcile
  • Fill a negative statement amount due to the liability balance account
  • Now clear the listed with credit card statement
  • Click on Add new tab to add the transactions or finance charges listed on the statements
  • Choose a General journal entry to generate a journal entry to embed these items
  • Next, save the window and close it
  • Hit OK

Even you can check out full information Sage 50 Reconciliation process step by step .

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