To manage charges and payments for your company credit card, you should first enter each individual transaction. Transactions are posted immediately.
To enter credit card transactions:
1. Go to Transactions > Bank > Use Credit Card.
2. Select the type of transaction you want to enter:
- Charge to record a purchase
- Credit to record a credit to your account
3. Under Primary Information, enter a reference number from the credit card transaction, if required.
4. In the Vendor field, select the entity you are paying (or the entity who is crediting you for a previous purchase).
- The currency field defaults from the entity record.
5. In the Account field, select the credit card account for this transaction.
- The current balance of the credit card account displays in the Balance field.
6. In the Amount field, enter the amount of the transaction.
7. If needed, enter a different exchange rate.
8. The Date field displays the current date. Enter a different date if needed.
9. If you use the Accounting Period feature, select a posting period. You can enter transactions only to open periods.
10. Optionally, enter a memo.
1. Under Expenses & Items, on the Expenses subtab, select the expense ledger account.
Important: The Unbilled Receivable account appears in the account list when the Expand Account Lists accounting preference is enabled. Do not select this account. All debits and credits to this account must be system-generated.
2. Enter the amount for the specific expense.
3. Enter an optional memo.
4. Enter class, department, or location information.
5. If the expense is billable to a customer, select the customer, and check the Billable box.
6. Click Add.
7. Repeat these steps for each expense you want to put on this credit card charge.
- To add items, on the Items subtab, select the name of an item, or click Add Multiple to quickly add several items.
- Enter the information for the item.
- Click Add.
- Repeat these steps for each item you want to put on this credit card.
If VAT/GST nexuses and tax preferences have been set in your NetSuite account, click the Tax Details subtab to select the vendor’s nexus and tax registration number. Check the Override box to override vendor defaults, then complete the tax lines.