Credit Card Accounting Shortcut
Many dealerships are now paying suppliers with credit cards in order to collect points or receive cash back.
At DSI, we’re always trying to make your work easier. We’ve created an accounting selection, APT9, which allows for simple accounting when dealers are paying by credit card. DSI clears the invoice and creates a payable to the credit card company. In this way, there is one charge in the DSI system for the vendor and it matches the credit card statement. Then the dealer pays the credit card company to clear the payable on the account.
“It makes it simpler for people because they do not have to prepare a journal entry and set up a payable to the credit card company,” says Debra Bourbon, DSI’s Manager of Quality Assurance and Documentation.