Posting Accounts Payable

 

If the General Ledger module is installed, there are several situations that affect the postings that take place in the Accounts Payable module. In the following examples, the invoice amount is $100, the discount amount is $20, and the retention amount is $30.

 

The following general ledger postings take when the Cash Basis parameter is unchecked.

 

When updating the Invoice Register...

Accounts Payable

Retention Payable

Expense Account

 

70

 

30

100

 

 

When updating checks...

Accounts Payable

Discounts Taken

Cash in Bank

70

   

20

 

50

 

When reversing a check through the Manual Check task...

Accounts Payable

Discounts Taken

Cash in Bank

 

70

20

 

50

 

 

When updating the Manual Check Register with a transaction not entered through the Invoice Entry task...

 

NOTE: Manual checks have no retention.

 

Cash in Bank

Expense Account

Discounts Taken

 

80

100

   

20

 

The following general ledger postings take place when the Cash Basis parameter is checked.

 

NOTE: Retention is not used under cash basis.

 

When updating the Invoice Register...

No general ledger postings.

 

When updating the Check Register and Manual Check Register...

Cash in Bank

Expense Account

Discounts Taken

 

80

100

   

20

 

When reversing a check...

Cash in Bank

Expense Account

Discounts Taken

80

   

100

20

 


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