- Process a payment with a single expense line and fund as an administrative voucher and after paying, process journal entries to allocate the expenses and cash.
- Process a payment with multiple expense lines summarizing the expenses by account and fund.
- Process individual vouchers for each expense as incurred and then process a single voucher for the payment in the amount of the payment.
- Option 1: Very easy to manage, but there is no ability to report in AP on the vendor history. Expenses are accounted for on a cash basis.
- Option 2: Very easy to manage, but there is no ability to report in AP on the vendor history although there is some line item reporting available. Expenses are accounted for on a cash basis.
- Option 3: More time-consuming. Accurate Vendor History records. Accrual based accounting. Credit card payable balance maintained in the GL.
See the attached document for detailed information and examples for this process.