Posted Tue, 25 Feb 2020 10:08:52 GMT by Rick Oelkers Wingate by Wyndham Valdosta/Moody AFB GM

We are going to be using a AMEX to pay most of our monthly bills.  How do we go about posting the Creditcard Statement in M3 for payment? What would be the proper account to use to post the AMEX charges

Posted Sat, 07 Mar 2020 02:08:36 GMT by Peg Splaine

Rick - I handle a very large volume of payments through AmEx each month. I have set American Express up as a vendor and enter all invoices into the vendor, using the correct g/l code for each invoice. I also pay for sister properties using the intercompany process. I then make an online payment and in M3, I post it to A/R Other. After all of the invoices are entered and I know they are balanced to the statement. I enter a credit invoice in the total amount using the A/R Other account as the g/l so that account is zeroed out each month. I also set American Express up as an ACH payment only so I don't have to remember to pay it as an ACH.


Hope this is helpful -

-Peg Splaine

Vacation Myrtle Beach/Legacy Business Solutions

Posted Sun, 08 Mar 2020 04:15:59 GMT by Rick Oelkers Wingate by Wyndham Valdosta/Moody AFB GM

Peg thanks for your input. 

I don't think I explained the method I was going to be using fully.

I purchase items from a supplier lets say Grainger on a Net 30.   After 30 days I want to pay Grainger using the Credit Card.  Once I have paid Grainger using the CC the charge hits the statement and I pay the CC.  Now it looks like I have paid 2x

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