Summary: How to activate and use CentimeCard to make invoice payments.
Required Permissions:
- To make invoice payments: Schedule payments and manage the AP workflow (recall, mark paid, post)
- To modify settings for a payment method: Manage supplier communications and payment settings
Article Contains:
Activating CentimeCard
To be able to make payments with CentimeCard, users will have to activate CentimeCredit for their accounts. Users can refer to this article for activating CentimeCredit and CentimeCard.
Making an invoice payment with CentimeCard
To make an invoice payment with CentimeCard, users can click on the payment method in the 'Pay' action in the 'Unpaid invoices' tab and choose 'Credit card' as the payment method. Users can choose the activated CentimeCard from the 'Pay from account' drop-down and click Save. Users can also view the surcharge added to the transaction.
After the payment is scheduled and approved, it is processed on the payment date and the invoice is moved to the 'Paid invoices' tab.
Payment preferences for CentimeCard
When paying with CentimeCard, users can choose to pay directly on the Supplier's website or share the card details with the Supplier via email.
Users can set these preferences from the 'Payments' section of the Supplier side panel menu.
When users choose to pay by sharing the card details with the Supplier, on the payment date, a card (buyer-funded card) is generated with an amount corresponding to the payment amount and is emailed to the Supplier.
These are one time use virtual cards. One of the benefits of a virtual card is that it can be processed only to a the specific authorized amount. Once processed, the "balance" on the card goes to zero.
Posting CentimeCard payments:
Users will have to identify a GL account for a surcharge in the Credit card section of the 'Payment settings' in the 'Payables' settings page.
When CentimeCard payments are made, the payments are posted to the General Ledger and the surcharge is posted to the specified General Ledger account.
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