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Credit cards

You can use SchoolInsight Financials to track district credit card use. After adding the cards to the system, each transaction with a credit card will raise the balance on the card until you pay it off.

Add credit cards
Create transactions
Pay balance

Add credit cards

In order to begin using credit cards, create a record of each card in the system. Every card must be linked to a credit card account; if multiple cards are on the same account, they will all affect the balance of that account.

To create a credit card account:

  1. Go to Financials Main > Setup > Financial Institution Accounts
  2. Create
  3. Set the Financial Institution Type to Credit Card
  4. Set the Vendor to whomever issued the card (Visa, Mastercard, a specific bank, etc.)
  5. Enter other details
  6. Save

To add individual cards:

  1. Go to Financials Main > Setup > Financial Institution Accounts
  2. Next to a credit card account, click the down arrow and click Add Credit Card
  3. Select the main Employee responsible for this card and the Card Number
  4. Save

Create transactions

When someone makes a payment using one of the district credit cards, the transaction needs to be recorded in the Accounts Payable system. Like other AP transactions, it needs both an invoice and a payment; however, credit card transactions can be streamlined so the payment is created simultaneously with the invoice.

To record a credit card transaction:

  1. Go to Financials Main > Accounts Payable > Vendor Invoices
  2. Create Invoice
  3. Payment Issued By: Paid using district credit card
  4. The Vendor Supplying Items should be the company that provided the goods or services
  5. The Vendor should be the credit card provider (Visa, Mastercard, the bank, etc.)
  6. Enter line items and other details
  7. At the bottom, check Enter payment card and create payment too
  8. Choose the Payment Card and Status of created payment
    • To post the transaction to the General Ledger immediately, choose the status Paid
    • If you set the status to Approved or Draft, you will need to return to Accounts Payable > Payments to mark the payment Paid in the future
  9. Save

Pay balance

When payments have been created and marked Paid, it increases the balance on the credit card. The balance can be viewed on the Financial Institution Accounts page. A positive balance on a credit card account indicates that you owe money. The actual payment should be made via check or EFT and then recorded in our program.

To pay off a credit card balance:

  1. Go to Financials Main > Setup > Financial Institution Accounts
  2. Next to a credit card account, click the down arrow and click Pay Balance
  3. Enter the payment Date, Type, and Source of Funds
  4. The Balances area will be automatically filled out with the full amount that you owe on the credit card. To make a partial payment, adjust the amount paid to each fund.
  5. Save