Step 1: Record your AMEX Charges
- Create an AP Invoice for the vendor for the amount of the invoice.
- Next, Use the ‘Pay Bill’ Function to create an AP Payment. Click on ‘Pay Bill’ in the top Ribbon.
- A new window will open. Select the appropriate ‘Payment Date’ and click on ‘OK’
- A new window will open. Select your AMEX account as the ‘Bank Account’ and click on ‘OK’
- A new window will open. Since we we are not actually going to print the check, close the pop-up window. Remember you are only using the Check Run window to record a number of individual payments/withdrawals from the AMEX Bank Account. The AMEX Bank Account will now have a number of ‘credits’ to it for the payments that have recorded – these will match the individual transactions on your AMEX bill.
If you have entered multiple invoices for multiple vendors, you can use the ’Check Run’ functionality. (Vendor Actions>>Check Run).
A new ‘Check Run’ window will open. Here the checkbook is your AMEX Bank Account and only select those invoices that will be paid via AMEX. Don’t actually print these checks (just click ‘Yes, they printed correctly on my printer’ even though they have not actually printed.) Remember you are only using the Check Run window to record a number of individual payments/withdrawals from the AMEX Bank Account. The AMEX Bank Account will now have a number of ‘credits’ to it for the payments that have recorded – these will match the individual transactions on your AMEX bill.
Option 2: To record charges that you don’t care about recording the individual vendor for that you put on your AMEX card (things like a lunch at Costco)
Download your AMEX transactions directly into R365 via the Bank Activity screen (Banking>>Bank Activity – which compares what is online with what is recorded in R365). When you import these transactions into R365, it will auto-match your transactions that you entered from Option 1 above and it will leave you with the previously unrecorded charges on the Unmatched side of the screen (i.e. the Costco lunch).
Use the Bank Activity screen to create new ‘withdrawals’ for each of these Unmatched transactions (basically you are selecting the expense category for each of them.) When you do this, it will then create the withdrawal, match it to the downloaded transaction and move it to the ‘Matched’ tab on the Bank Activity screen. This process ensures you fully account for all transactions on your AMEX card. ***Note, to remove the transactions from the ‘Matched’ tab on the Bank Activity screen, perform a Bank Reconciliation of your AMEX Bank Account.
Step 2: Pay your AMEX bill
Option 1: To send a physical check to AMEX for your bill, create a Bank Expense transaction (Banking>>Withdrawal) where the Checking Account is the account from which you want to pay the bill and your debit below on the Details tab will be the AMEX Bank Account.
After entering the details, click Print Check in the ribbon. You will not use the Check Run screen to send a check to AMEX.
Option 2: To record a wire transfer or automatic withdrawal (that AMEX initiates), simply record a Bank Transfer (Banking>>Transfer) from the bank account that the funds will be withdrawn from to the AMEX bank Account.