How to Work with Credit Cards

This guide shows how to record and manage bills paid with credit cards in RAAMP by creating a Credit Card payment method and adding a Credit Card account in the Chart of Accounts. Follow it to ensure transactions are linked to the correct account, enable bill pay, and maintain proper subaccount structure for accurate reconciliation and property linking. It prevents posting errors and improves accounting workflow.

20 steps

RAAMP allows you to track bills paid via a Credit Card. 1. You need to set up a Credit Card as a Payment Method. 2. You need to create a Credit Card account in the Chart of Accounts.

How to Set Up a Credit Card as Payment Method

From the navigation menu, select **Accounting** > Select **Settings** > Select **Payment Methods.**

Select **New Payment Method.**

Select the **Method Name field** > Enter a **name.**

Select **Credit Card** from the **Payment Type dropdown.**

Select the **Account Specific checkbox** if you want to connect the credit card to a specific account. Select the **account** from the **dropdown menu.**

Select **Save.**

Acknowledge the **Payment Method updated successfully** confirmation.

Select **Back To List** to return to the Payment Methods summary.

Confirm the Payment Method was added.

How to Create a Credit Card Account in Chart of Accounts

**Important:** Make sure the credit card account is assigned to the correct property/company and verify all account information before saving. If your organization uses separate credit cards for different properties or entities, create and assign each account accordingly.

From the navigation menu, select **Accounting** > Select **Accounts** > Select **Chart of Accounts** > Select **New**.\ \ Alternatively, from the navigation menu, select **Accounting** > Select **Accounts** > Hover over **Chart of Accounts** > Select the **+ icon** to go directly to **Add New Account.**

Select **Account Type** to view the dropdown menu > Select **Credit Card.**

**Only** **select "Is For Reserve" for an actual reserve subaccount.** Reserve accounts are still included in bank reconciliation without this designation; the setting primarily affects cash-flow-after-reserves calculations and distributions.

Complete the information accordingly. **Do not rely on prefilled information without verifying it against the property's banking documentation.**

Make the account property/company specific when appropriate. The account must be associated with the correct entity to keep transactions and reporting organized.

Select **Save.**

If you are creating a header/root account, the **Add Bank Subaccounts** box will appear. This is one way you can add the subaccounts.\ \ Select **Add Bank Subaccount** **>** Complete the information > Select **Save.** **Why are you having to do this?** \ *Transactions can only be recorded in subaccounts. Requiring bank accounts to use a hierarchy ensures that if the need arises to add additional subaccounts, it's a smooth process. If this weren't a requirement, functionality would be reduced when reconciling bank accounts.*

Select the **Property/Company Specific checkbox.**

Select **Allow new property to use this account.**

Select the **Property/Company** to make the bank account specific to **>** Select **Save >** Select **Save.**

Select **Save** to finalize the credit card configuration.

Select **Back To List** to return to the **Chart of Accounts.**

Confirm the account was added. Select the **Search Accounts field** **> Enter the account name** you just created **>** Select **Enter** or the **Magnifying Glass icon.**

Related Tutorials: [How to Link and Verify an AR Account in RAAMP](https://support.raamp.com/wiki/280)\ [How to Link and Verify Bill Pay Account (RAAMP Pay)](https://support.raamp.com/wiki/283)

How to Work with Credit Cards

20 steps

RAAMP allows you to track bills paid via a Credit Card. 1. You need to set up a Credit Card as a Payment Method. 2. You need to create a Credit Card account in the Chart of Accounts.

How to Set Up a Credit Card as Payment Method

From the navigation menu, select **Accounting** > Select **Settings** > Select **Payment Methods.**

Select **New Payment Method.**

Select the **Method Name field** > Enter a **name.**

Select **Credit Card** from the **Payment Type dropdown.**

Select the **Account Specific checkbox** if you want to connect the credit card to a specific account. Select the **account** from the **dropdown menu.**

Select **Save.**

Acknowledge the **Payment Method updated successfully** confirmation.

Select **Back To List** to return to the Payment Methods summary.

Confirm the Payment Method was added.

How to Create a Credit Card Account in Chart of Accounts

Select **Account Type** to view the dropdown menu > Select **Credit Card.**

Complete the information accordingly. **Do not rely on prefilled information without verifying it against the property's banking documentation.**

Make the account property/company specific when appropriate. The account must be associated with the correct entity to keep transactions and reporting organized.

Select **Save.**

Select the **Property/Company Specific checkbox.**

Select **Allow new property to use this account.**

Select the **Property/Company** to make the bank account specific to **>** Select **Save >** Select **Save.**

Select **Save** to finalize the credit card configuration.

Select **Back To List** to return to the **Chart of Accounts.**

Confirm the account was added. Select the **Search Accounts field** **> Enter the account name** you just created **>** Select **Enter** or the **Magnifying Glass icon.**

Related Tutorials: [How to Link and Verify an AR Account in RAAMP](https://support.raamp.com/wiki/280)\ [How to Link and Verify Bill Pay Account (RAAMP Pay)](https://support.raamp.com/wiki/283)