Dynamics GP Credit Card Import versus PowerGP Banking

October 8, 2020, Written by 0 comment

Dynamics GP Credit Card Import versus PowerGP Banking

We’re excited to share that PowerGP Banking is now available! And in response, there have been a lot of questions about how PowerGP Banking differs from the new Dynamics GP Credit Card Import feature.

Here’s the scoop!

What Dynamics GP Can Do:

  • “Go to your credit card websites and download a qbo/qfo/qfx file”
  • Next you will need to Map the Credit Card to a Vendor ID in Dynamics GP. To do this you will need to open the qbo/qfo/qfx file you downloaded in a text editor and search the HTML code for “<ORG>####</ORG>” where the ### is the Credit Card “ORG” Name, like “AMEX”. Once you have the Org Name, open the new Vendor Mapping window from the Payables Management Setup window in Dynamics GP where you will map the Org Name to a Vendor ID.
  • Next you need to map all of the transaction types in the qbo/qfo/qfx file to GL Accounts in GP. To do this, open the qbo/qfo/qfx file in a text editor and search for every occurrence of the HTML tag “<NAME>”. For each occurrence, you will need to copy/paste the Name into the Transaction Type Account Mapping window. These Types or Names correspond to what you see in the Description column of your credit card statement (and there are ALOT of them).
  • Any Transaction Type/Name you do not map will use a default account number. You will need to manually edit these on the Payables transaction once it has been imported.
  • Open the Import Payables Invoices window, select the path to the qbo/qfo/qfx file and begin the import process.
  • Note that Credit Card Import will not import any credit transactions such as Payments (which is good) or returns (not so good). If you have any non-payment credits, you will need to manually add those to the AP Voucher after it has been imported.

What PowerGP Banking Can Do for Credit Cards:

  • Securely Connects directly to your credit cards
  • Downloads transactions into PowerGP Online with just a few clicks
  • Provides a very simple GL Coding process
  • Allows for the import of Credit Transactions
  • Creates AP Vouchers in PowerGP Online for each Card
  • Coming Soon: PowerGP Banking will remember how you coded transactions last time and suggest how to code them each subsequent time.

What PowerGP Banking Can Do for Bank Accounts:

  • Securely connects to your financial institutions
  • Downloads transactions into PowerGP Online with just a few clicks
  • Automatically matches (and Clears) transactions based on Check Numbers and Amounts/Date Ranges
  • Quickly pushes new transactions into PowerGP Online.
  • Reduces the amount of time spent reconciling Check Books

Also, PowerGP Banking can import all of your bank account transactions at one time, which brings even more efficiency to your day. Let’s not forget! Like all of our PowerGP PowerSuite exclusives, PowerGP Banking is included in all of our PowerGP Online bundles for free!

Want to see more? Check out PowerGP Banking or email info@powergponline.com.

Brianne Van Reenen
Brianne Van Reenen

Brianne is a community builder who believes in the value of shared knowledge and authenticity. Marketer, writer, and lover of all the liquid vices - she is inspired by her family, traveling adventures, and mountains of books. Brianne serves as the Director of Marketing at Njevity, Inc. @B_vanReenen