1.

Process - Credit Card management

A customer pays an incoming payment using his credit card.
The credit card vouchers enter the credit card fund - the customer is credited and the fund is debited.
Depositing the credit card vouchers:
Regular vouchers can be deposited to your bank account.
However, if you have any pre-dated vouchers, meaning: vouchers with future due-dates, you deposit
them to a temporary GL account.
When the vouchers’ due date arrives, you can then deposit them to your bank account.

2. The credit card payment methods.

In the ‘Define credit card payment methods’, you need to define the credit card payment methods, you
will offer your customers in their incoming payments.
For each method, you need to define 3 major parameters:
First, ‘Credit cards’ – define whether the method is offered for a specific credit card, or for all the credit
cards defined in your company.
Second, ‘Payments’ – you need to define whether you offer to divide the credit card voucher, into a
number of payments.
Select ‘No’ if you do not offer to divide the payment amount into several payments.
In this case, you will charge the customer for the entire payment amount in a single credit card payment
Select ‘Yes’ in case you do offer to divide the payment amount into several payments.
In this case, the journal entry created by the incoming payment will be split into a corresponding
number of rows, and due dates.
Select ‘Credit’ if you have an agreement with the credit card company, that the entire payment amount
will be transferred to you in a single payment.
However, the costumer will be charged directly by the credit card company using several payments,
including interest fees.
In this case, the journal entry created by the incoming payment will not be split into several rows.
And finally, ‘Credit card payment code’ – as shown earlier, the credit card payment code can be after a
certain number of days, or according to the vouchers date of receipt.

3. Deposit Method
Define a deposit method .Click on ‘Administration’, then on ‘System initialization’, then on ‘General
settings’ and finally on the ‘Sales’ tab page. In the ‘Submit credit vouchers’ field, select a deposit method
of the credit card vouchers used in your company .Select ‘Manually’, if your company uses manual
machinery, and physically deposits the credit card vouchers – transaction slips – at the bank. In this case,
the due dates of the journal entry created by these deposits will be determined according to the posting
dates recorded in the deposit .Select ‘Automatically’, in case your company is connected to the credit
card company on-line. In this case, the due dated of the journal entry created by the deposits, will be
determined according to the incoming payments due date.