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Best Practices for Credit Card Purchases & POs

When purchasing parts with a credit card that will impact the inventory account, it is always recommended to write a PO in the DMS. This will allow the parts manager to tie the transactions received to the credit card posting accounting will make in the DMS. To avoid double posting, these steps can be followed:

  1. Set up a vendor in the DMS for the credit card. For example, set up a vendor for Visa, Master Card, American Express, etc for the parts manager to write POs under.
  2. When a credit card purchase is made, the parts manager should write a PO under the appropriate vendor and invoice it.
  3. Parts should either receive the part in or bill it as an In/Out on a repair order or customer ticket.
  4. PartsRec will import the PO which can be matched with the received transactions and put into complete status.
  5. Accounting posts the GL entry for the individual charge on the credit card for the PO. Accounting should use the same reference number parts used for the invoice number.
  6. Parts will manually close the PO in the DMS to avoid accounting closing and posting automatically.

This process is essentially the same as writing normal POs for vendors with charge accounts. The only key difference here is instead of accounting automatically closing the PO when they post, parts will manually close the PO.