Summary of Steps:

  1. From Accounting Home Click Accounts Payable and navigate to the Accounts Payable Tab
  2. Click "New"
  3. Enter the Account and vendor invoice number in the Reference field
    1. Payment terms - Defaults from Account
    2. Accounting Period - Defaults to current
  4. Click "Save"
  5. Enter Payable lines by clicking the "New Payable Line" button of "Mass Add/Edit" rows button. 
  6. Enter the Amount. The following fields use system defaults if you leave them blank. If you would like to override the defaults then simply key in a value before you hit save. Expense GL Account - Defaults from Account.
  7. Complete any additional fields as required such as Product, Project, Project Task, GL Account Variables and click "Save".
  8. You can return to the header quickly by clicking the link to the header record at the top of the screen.
  9. Change the posting status to "Approved" and Click the Post button. The posting process creates the debits and credits in the general ledger.

Please Note:

  • The GL Account credited will always be the default AP Control GL Account entered in the accounting settings. 
  • Account Payables can be set up to use Salesforce Approvals if desired.
  • If the "Account Payable Terms" field on the account has a value in it, the due date will automatically populate upon pressing "Save."
  • After an account payable record has been paid, the system will not allow it to be un-posted. In order to un-post it, the associated cash disbursement must first be un-posted and deleted. This is a safety feature so that account payable amounts can't be edited after the record has been paid.
  • Salesforce will prevent you from deleting an account payable with over 200 journal entry lines. If you have over 200 account payable lines and wish to delete the account payable you will need delete the number of lines in excess of 200 individually. Once there are 200 or less lines you will be able to successfully delete the account payable.

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10 Comments

  • 0
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    Rebecca Ralls

    Just to verify that I am reading correctly: If a product is entered on an AP line (rather than being transferred from a PO), the Expense GL Account is still going to be populated from the Account default expense account instead of the product expense account?

  • 0
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    Tony

    yes this is correct. If an AP is not created form a PO the default expense GL Account will be that set on the Account. If an AP is created from a PO the Default expense will be that of the product. You can overide the default in either use case. 

    Edited by Tony
  • 0
    Avatar
    Rebecca Ralls

    Hi Tony, thanks for your response.  I'm not sure the most recent release conforms to your answer.

    In my testing of Financial Suite 3.7.2/ERP 3.5 (not sure if it is the same in other releases), if I add a product directly to an AP line, it is setting the expense GL Account based on the default expense GL account set on the vendor Account record and not based on the expense GL Account set on the product regardless of whether the product is marked as an Inventory product or not.

    Where if i put the inventory product on a PO and then create a payable from the PO, the product is - correctly - expensed to the Expense GL Account specified on the product.

  • 0
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    Chad Meyer

    It seems that if you enter an AP with an error, pay it, you need to delete the Cash Disbursement to correct the error. This means that you lose the history of the voided check, unless you manually create a new Cash Disbursement with the same check number and mark it void.

    Is there a better way to handle this where the original voided check (Cash Disbursement) is retained?

  • 0
    Avatar
    Tony

    Chad,

    If you want to maintain al of the history you really need to book new adjusting entries. You can certainly void the cash disbursement, create a credit memo, apply it to the AP document and create a new AP record. 

    Thanks,

    Tony

     

  • 0
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    Jeanae Remala

    It would be helpful if the GL Account Variables and GL Account # could be changed on A/P lines without having to delete cash disbursement batch (which could include dozens of checks), delete the cash disbursement,  un-post the A/P entry, make the quick GL Variable change, re-post the A/P,  re-pay the item, TRY to recreate a cash disbursement batch (good luck easily doing that when you deleted a batch that had dozens of checks in it), re-post the cash disbursement batch on the original date.  And if the bank rec has been completed already - you have to undo all of that work too.  OMG - two hours of work to make a quick fix to GL Variable or GL acdount posting error.

    The GL Variable or GL# doesn't change the $$ of the entry, the date it was posted, the date it was paid, the check number or cash disbursement batch it was posted in, or the bank rec it was included on.  Only the sub-classifications for reporting.  

    When many employees are entering POs, Invoices, etc. that eventually hit A/P, sometimes things get into wrong departments or GL Accounts.  The error isn't always evident until someone at a higher level is reviewing the F/S at month-end.  It's virtually impossible to make corrections easily, with out creating a ton of Journal Entries or undoing an entire month's work of work.

    Could this please be incorporated into a future release of Accounting Seed?  

     

  • 0
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    Ryan Faulkingham

    Hi Jeanae,

    I understand your frustration around unposting and updating the variables, but this security is build in place so that users cannot easily change transactions, which will in turn affect all of the financial reports.

    An easier way to adjust a variable mistake is through a journal entry. Debit and Credit the same GL account, but just update the variable. The transaction will still have the incorrect variable tagged, but the reporting will be correct. 

    Feel free to submit a ticket to support with any other questions. 

  • 0
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    Jeanae Remala

    Also, how can we revise standard GL reports to actually show transaction descriptions and other useful info other than transaction numbers? Our GL is so large, we have to download the standard  GL Activity report into Excel and there is not description that comes through, and since you can't drill down from the excel report, they are really of no value.  Thanks

  • 0
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    Ryan Faulkingham

    Hi Jeanae,

    Depending on the report that you are running, try adding the "note" field as a column. This includes some helpful info like check numbers and references depending on which transaction is being reported on. 

    If you would like to see other specific fields, these could always be pulled over to the transaction object with a formula field. 

  • 0
    Avatar
    Rebecca Ralls

    Hi Jeanae,

    If you know how to create a custom report type, you can create a custom report type that pulls in ALL the good data from all of the related records using the edit layout feature, and then just use that as the basis for your GL reports instead of the standard transaction report type.

    If you don't, I can point you in the right direction, or set one up for you depending on your level of comfort with the system.

    I can be reached at rebeccaralls (at) gmail (dot) com.

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