Payments on Account (Using a Credit Card)
Sometimes a house account customer throws you a curve and asks to pay their outstanding balance with a credit card.
As a general business rule, you should frown on this.
Why? Because you are extending the customer credit, waiting at least 30 days for your money and then when they pay you lose another 2-3% to credit card fees. If they are going to pay with a credit card, they should be cash customers, not house accounts.
However, this is easier said than done. Sometimes, you don’t want to antagonize the customer or you just want or need to get your money at that time.
In those cases, do not try to change the invoice(s) being paid from an ON ACCOUNT method of payment to a CREDIT CARD method of payment. It is a lot easier to accept the payment as a payment on account through the A/R module. When you get to the reference # simply enter cc in the field to indicate a credit card payment and then select the invoices to be paid.