This post is part of the Microsoft Dynamics GP Fall 2020 Release New Features series where I am going to echo the posts from the Dynamics GP Support and Services Blog, while adding some commentary, on the new features introduced in the Microsoft Dynamics GP Fall 2020 Release which is now available.
This post is on the Import Credit Card Transactions Financial enhancement.
Importing a credit card statement to a vendor account in Dynamics GP makes it fast and easy to enter invoice transactions. Users can import the credit card transactions as payable invoices or manual payments. Using the import functionality helps reduce the chances of data entry errors and brings invoices for a vendor into a batch.
The imported transactions must be saved as a batch and appropriate distributions must be created for each transaction.
Once the transactions import process is completed, a report will print with a list of transactions and status of the transactions.
An example of how this will work is; a company gets their credit card statement electronically or they can download the transactions to a qbo/qfo/qfx file locally. This allows the user to bring that data into Microsoft Dynamics GP and generate invoices for the credit card that is setup as a vendor within the Dynamics GP system.
Vendor Mapping and Transaction Type mapping setup needs to be completed before the functionality will work.
NOTE: Only debit type transactions will be brought in with the import. Credit type transactions will still need to be manually entered.
Table Changes: There are two new tables:
- PMVendorMapCreditCardSetup – PM40107 with two fields OriginText and VENDORID
- PMCreditCardAccountSetup – PM40108 – 3 fields CreditCardTrxType, ACTINDX, ACTNUMBR
In the Payable Management Setup window (); two buttons have been added: Vendor Map and Trx Type Map:
The Vendor Mapping window is used to map the Credit Card (Org) field in the file format .qbo, .qfo, .qfx, to the corresponding Vendor ID you have setup in Microsoft Dynamics GP.
This mapping will determine which Vendor ID is used when the invoices are created from the import. Without this information populated in Microsoft Dynamics GP the system will not know what Vendor ID should be used to create the invoices for the credit card statement being imported. This setup is required.
For this example we will be using “AMEX”.
To find the Credit Card Org, open the qbo/qfo/qfx file using a text file program and search for
If there isn’t a vendor setup in the vendor mapping for the file when the user chooses process, they will get an error This vendor hasn’t been mapped.
Transaction Type Account Mapping will give the user the ability to map the transaction type from the .qbo file to the Account Number in Dynamics GP. This information isn’t required but will allow a different purchases account to be posted other than the default “purchases account” on the vendor card. To pull the account number from this window, the transaction type string will need to match. If there are multiple “matches” the GP will not pull the account number into the invoice.
The “transaction type” field in the window will be a freeform field. This field will have a max length of 50.
The Account field will be a lookup field that will give the user the ability to look up the Account Numbers and select an existing Account to be used when the invoices are created during the import.
The name of transaction type can be mapped to an Account. That account will then be used for the Purchases Account type on the Invoice transaction distributions. The Transaction Type will be compared to the DELTA AIR LINES within the import file. The entire name in the .qbo file needs to be entered into the Transaction Type field to match and use the account setup. If this is not setup with any account mappings or there are no matches between the import file and the transaction type account mapping the Purchases account on the vendor card is used by default.
To import the credit card transactions open the Import Payables Invoices window ()
Use the yellow folder icon to map to your saved import file:
The process button will give the user the ability to import from the file location. If the user wants to modify the information on the transactions, they will need to do that after the import when the transactions are in the batch. Once the import is completed you will get a message below:
Transactions will be entered into the system using the functional currency.
Once the import process has run, a batch is created and needs to be posted by the user. Creating the batch and not posting gives the user the ability to verify the batch before it posts. This would also allow the user to change the distributions if needed before they post the batch.
If you click Transactions and then choose Purchasing, click Batches. You should see your imported batch: