Credit Card Accounts*

Written by Dana Kinsey

Last published at: May 9th, 2019

If your foundation uses credit cards to pay for expenses, each credit card vendor will need to have an Account in the system that will need to be reconciled regularly. You will also be reconciling your Credit Card Payment Processor "Stripe" - however, these are two different processes.

When you get your Credit Card statement you will create a voucher for each item paid for by credit card.  When you create the vouchers, the system will now have a record of each transaction. 

When you do a Bank Reconcile for your Credit Card Account you will be selecting all the transactions that make up your credit card statement to complete the reconciliation.

NOTE: When paying your Credit Card bill you will create a voucher to pay the Credit Card Vendor and put the payment against the Credit Card Liability Account.