We have American express credit card

when invoice coms in we make a prepayment to the credit card
and then call the vendor to charge the cc

In oracle we eneter the invoice and match it to apO

and then we don't make payment to that invoice since vendor has already charged the CC

so we enter the vendor invoice and manually reverse the distributions and set the invoice to zero dollar

is there a better way to handle tis situation in Oracle


Also, can you please explain the concept of prepayments to credit cards or post a video on that

Manually changing distribution to zero, does not look like a good solution.
Here is one way you can do this:
1) Create a new bank account representing your credit card. Use a separate GL cash accoount with this bank.
2) When you send a payment to your credit card company enter an invoice. In the expense line enter the cash account associated with your credit card bank account.
DR: CC CASH
CR: LABILITY
3) Pay the credit card invoice using regular bank account.
DR: LIABILITY
CR: CASH (REGULAR CASH ACCOUNT)
4) Enter invoice from the vendor in AP:
DR: EXPENSE
CR: LIABILITY
5) Pay this invoice using credit card bank account.
DR: LIABILITY
CR: CC CASH

Thanks hasan

Actually our main purpose is to record Credit card payments.
And currently we do not have Credit card/P card setup in Oracle. so if we setup Credit Card in the system won't be helpful .. then following this process or may be i don't know the concept of credit card

please advice

Thanks
Uqrc

Procurement cards are charge cards provided by business enterprises to their employees
The purpose is so the employees can purchase business related goods and services.
They are intended for small dollar high volume purchases.

Credit Card allows companies to obtain credit card transaction files directly from credit card issuers.
These data files are loaded and validated in the system.
users can then select the credit card transactions to be added to their expense reports.

None of these scenarios directly apply to your situation since employees are not in the picture.