How to process credit card transactions in Sage Intacct

Sage Intacct streamlines corporate credit card management by allowing you to enter, code, pay, and reconcile credit card transactions all within a single system, eliminating the need for offline spreadsheets and manual record-keeping while providing easy access to supporting documentation for every charge.

Managing corporate credit card transactions can be a challenging task for any accounting team. Entering, tracking, and reconciling credit card charges often requires significant time and effort. Ensuring that expenses are allocated to the correct GL accounts and maintaining a clear record of payees without relying on offline spreadsheets can be overwhelming. Fortunately, Sage Intacct offers a streamlined process for tracking and reconciling credit card payments. Below, we outline the steps to efficiently process credit card transactions within Intacct.

Step 1: Enter credit card transactions in the Cash Management module

Begin by navigating to the Cash Management module and selecting “Charge-Card Transaction.”

Step 2: Record charge card transaction information

On the “Charge Card Transaction Information” screen, choose the appropriate charge card from the drop-down menu.

For each credit card charge, enter the payee, account, and dimensions to properly code the expense. You also have the option to add attachments, such as receipts or related backup documentation. Once all relevant information has been entered, save the transaction.

Tip: To further speed up data entry, Intacct allows you to import multiple credit card transactions at once using a Microsoft Excel template.

Step 3: Select and pay transactions when the credit card statement arrives

Once you receive the monthly credit card statement, you can easily review all the transactions recorded for that card. Select which transactions to include in your payment.

To do this, go to the Cash Management module and select “Charge Payoffs.”

Step 4: Complete the payment in Charge Payoffs Information

Within the “Charge Payoffs Information” screen, select all transactions to be paid. You can choose to pay the full amount or make a partial payment for each transaction.

Once your selections are confirmed, save your choices to send the charges to Accounts Payable, where a bill is automatically created. You can then process payment for the bill through your standard AP workflow.

Track, reconcile, and document all credit card transactions in one place

Sage Intacct allows you to monitor every credit card charge and fee, enabling you to perform a reconciliation similar to a bank reconciliation. With Intacct, the entire transaction cycle—from entering individual charges, selecting transactions for payment, paying the credit card invoice, to reconciling the credit card statement—can be managed within a single system.

The ability to attach receipts and other documents at the transaction level ensures all supporting information is easily accessible for future audits or research. This centralized approach eliminates the need for offline records and manual cross-referencing, saving your team significant time and reducing the risk of errors.

Why Sage Intacct stands out for credit card management

Intacct distinguishes itself from other ERP solutions with its user-friendly interface and robust functionality. The platform’s credit card management features address some of the most tedious and error-prone accounting tasks, empowering finance teams to work more efficiently and maintain more accurate records.

Next steps

If you’re ready to simplify your credit card management process, Rand Group can help you get the most out of Intacct. Our team of ERP experts will guide you through implementation, provide training, and ensure you’re leveraging the software’s full capabilities to enhance your accounting workflows.

• Want to learn more about Intacct’s credit card features? Contact Rand Group today for a personalized demo or consultation.
• Explore our full range of insights and resources to discover more tips for streamlining finance operations.
• Considering a broader ERP transformation? Visit our overview page to see how Rand Group can support your digital transformation journey.

Let Rand Group help you take control of your credit card transaction management and drive greater efficiency in your financial operations.