The credit card statements can be easily reconciled with the help of the records before the payment made. The adjustment can be done like the finance charges that can be added or many other purchases but not the previously recorded in general ledger of Sage 50. Connect with our erudite and readily-accessible team of Sage 50 Tech Support Phone number +1800-640-1481.
Solution for credit card reconciliation
- Go to the menu in this select the Task menu
- In the Task menu, select the Account Reconciliation then a window opens
- In this window, you need to select or enter the credit card liability account as the Account to Reconcile
- By this, all the un-cleared payments of the credit card will be shown to you
- The balance of the account is the liability so enter the Negative amount of Statement
- Now you need to make the statement of credit card clear that are paid and note down that is not paid
- You need to add the things that do not appear on the list like finance charges and other transactions as well. To add it you need to click on the Add New button
- For creating the journal entry you need to select the General Journal Entry to add the items in it
- When you are done by entering the journal entries then save it and closed the window and you now return to the account reconciliation
- After all, this, select the OK button.
Note: 1. In case you have a single business credit card then automatically that card will appear in the field. Also you can check How To perform Credit Card Reconciliation .
2. Before you begin a Bank reconciliation in Sage 50, you need to ensure that you have entered the majority of your financial transactions for the period that you are reconciling.
Steps for the transaction done through credit card
- There is a checkbox on the right side of the bank statement. This is divide into 2 parts that are as follows:-
- In the topmost section, you can see the charges on your statement.
- In the second part of the lower section, you can see the payments that you made.
- You can keep track of the records that are cleared or not in the ledger
- When you get all the transactions done from the credit card. There is inconsistency in un-reconciliation
- To verify all the transactions by checking the statement to see the transactions that are listed in the Sage 50 software
- For locating the transactions or the adjusting journals lost in the statements; click on the icon in the cash advances.
Get Help For Credit card Transaction Issue Sage 50
Still, if you are facing any issue or have any other queries then directly Sage 50 related doubts, call our ReConcileBooks Team on Toll Free +1844-640-1481. The team is here to help you by 24/7 hours to get you out of the problems. The team members are educated, trained, expert, and professional. The whole team is experienced in handling all the issues and error codes.