| General Ledger accounts used for Invoices in Accounts Payable |
Resolution |
Accounts Payable Account Retrieval
Accounts Payable retrieves General Ledger accounts during invoice entry. If Accounts Payable does not find an account in the first location, it looks for an account in the second location. You can change the prefilled expense account and payable account during invoice entry. If no accounts exist in either location, you will be asked for the account during invoice entry.
Account |
First retrieval location |
Second retrieval location |
Expense account Accrual method: Account is debited when invoice is entered and posted. Cash method: Account is debited when invoice is paid. |
Job Cost: Based on the Cost Account Retrieval Method selected in JC Settings, GL Entry. Refer to article 20572 DocLink: What is the General Ledger cost account retrieval hierarchy in Job Cost? |
- EQ Cost Debit account (EQ Settings, GL Entry Settings). If the Cost code is set as a Memo Cost the account will not be retrieved.
- Accounts Payable: Setup, Vendors, Terms and Defaults tab, GL debit account.
|
Payables/Liabilities account Accrual method: Account is credited when invoice is entered and posted. Account is debited when invoice is paid. The exception to this is the Credit Card Payable, see article 24710 DocLink: What accounting transactions are created by Credit Card Management in AP? Cash method: None, payable accounts are not used for the cash accounting method. |
- Accounts payables: AP Settings, GL Entry Settings, Accounts Payable account.
- Credit Card payables: On the credit card vendor type, Setup, Vendors, Terms and Defaults tab, Credit Card Payable.
- Commitment payables: AP Settings, GL Entry Settings, Commitment Payable account. This account is used instead of the Accounts Payable account when invoices are applied to commitments that are a Subcontract type.
- Purchase order payables: AP Settings, GL Entry Settings, PO Payable account. This account is used instead of the Accounts Payable account when invoices are applied to commitments that are a Purchase order type.
- Retainage payables: AP Settings, GL Entry Settings, Retainage Payable account. This account is used instead of the Accounts Payable account for the retainage amount of the invoice.
|
- Credit Card payables: AP Settings, GL Entry Settings, Credit Card Payable account. If this is blank, then the Accounts Payable account is used.
- Commitment payables: If the Commitment Payable account, then the Accounts Payable account is used.
- Purchase order payables: If the PO Payable account is blank, then the Accounts Payable account is used.
- Retainage payables: If the Retainage Payable account is blank, then the Accounts Payable account is used.
|
Discount account Accrual and Cash methods: Account is credited when invoices with a discount are paid and qualify for the discount. |
Accounts Payable: AP Settings, GL Entry Settings, Discount account. |
|
Miscellaneous deductions/Workers Comp Accrual method: Account is credited when invoice is posted or paid depending on the Send GL entries to Misc Deduction account setting selected in AP Settings, Invoice Settings, Misc Deduction Settings* Cash method: Account is credited when invoice is paid (regardless of the Send GL entries to Misc Deduction account setting selected in AP Settings, Invoice Settings, Misc Deduction Settings*) *The title of Misc Deductions may be different if it was changed in the Custom Descriptions for the company data folder. |
Accounts Payable. AP Settings, GL Entry Settings, Misc Deduction account* and/or Misc Deduction2 account (if Use misc deduction2 is selected in AP Settings, Invoice Settings, Additional Settings). |
|
Intercompany accounts Available for Accrual method only. When the an invoice is paid by a bank belonging to a different prefix than the prefix assigned on the invoice distribution, intercompany entries will be created. The Intercompany Payable account is credited on the prefix of the invoice distribution that was paid and the Intercompany Receivable account is debited on the prefix of the bank account that paid the invoice. Refer to article 29757 DocLink: How do I set up and use intercompany entries? and article 29753 DocLink: How does Accounts Payable determine when intercompany accounting is needed and which accounts to use? |
General Ledger: Setup, Prefix/Base, [prefix level], Intercompany Payable and Intercompany Receivable. |
Accounts Payable: AP Settings, GL Entry Settings, I/C Payable account and I/C Receivable account. |
Cash account Accrual and Cash methods: Account is credited when invoices are paid. For information about the bank account used, article 24839 DocLink: How does Accounts Payable know which bank account to use when printing checks? |
Cash Management: Setup, Bank Accounts, GL Cash Accounts tab. If Use separate cash accounts per application is not used, it will use the General cash account. If Use separate cash accounts per application is used, it will use the Accounts Payable cash account. If this is set to Base account, the prefix of the payable account on the invoice distribution(s) will be combined with this base account to create the full Cash account. |
|
[BCB:156:Chat 300 CRE US:ECB] |
|