This article walks you through setting up and documenting Credit Card transactions in ParishSOFT Accounting. Please click here to read an important message before getting started.
Create a Liability Account for the Credit Card
Important: If you have multiple credit cards held by numerous staff members, create one liability account per credit card.
- Learn the steps for adding accounts to the ParishSOFT Accounting system using the article: Adding Accounts when a part of a Diocese, or a Stand-Alone Organization.
- Once you have the Account Information page open, click the checkbox for Credit Card to indicate that this Liability Account is a Credit Card.
- Click Submit to save the information on the Account Information page.
How to enter Credit Card Transactions
Note: Repeat this process throughout the month to enter all credit card transactions.
- In the Ledger and Payables module, select Credit Cards:
- On the Charge Information page, select the appropriate Credit Card (Liability Account) from the Account field for the charge you are recording.
- Select the Vendor. If the Vendor profile is filled out correctly, the address information should auto-populate.
- Enter the Transaction Date, Name for Authorization, and a Comment for your documentation needs.
- From the Account drop-down menu, select the Expense, Dedicated, or Liability Account for the items purchased and enter the amount of the transaction.
- Click Submit to save the Credit Card charge to the selected vendor.
- Next, either click the New Charge button to enter another transaction, or click Cancel if you are done entering credit card transactions.
Please Read: Important Information
Many churches attempt to enter credit card transactions into a single Bill after receiving the credit card statement in the mail. Depending on the number of credit card transactions on the statement, using a single Bill can be cumbersome.
When using a Bill, you cannot assign it to the correct Vendor where the item/service was originally purchased.
More importantly, when using the Credit Card screen, you can assign the Vendor where the item/service was purchased.
We recommend entering credit card transactions as you receive the purchase receipt, rather than waiting until the credit card statement at the end of the month.
This enables faster, more efficient processing for the system.
Updated