GL updating by AP functions

Most AP payment processing tasks are accomplished in Vendor Pay Invoices Due Entry, Vendor Invoice Center Entry, and Vendor Apply Misc Credit Entry. Transactions can also be entered in Vendor Invoice Center Entry and payment adjustments and terms updates in Vendor Maintain Transaction Entry. Periodic processes include printing 1099 forms and performing year-end processing. Each of these transactions and changes affects the general ledger in one or more ways. This list shows each function, the transaction you enter or change, and what it affects.

Entering invoices and miscellaneous transactions in Vendor Invoice Center Entry

  • Invoice
    • General Ledger receives debit and credit.
    • Active Vendor Invoice Center Entry files are created, and Vendor Setup is updated.
    • Vendor Invoice Center Entry scheduled payment transaction are created.
  • Immediate Pay Invoice
    • General Ledger receives debit and credit.
    • Inactive Vendor Invoice Center Entry file are created, and Vendor Setup is updated.
    • Inactive Vendor Invoice Center Entry payment transaction is created.
    • Inactive Vendor Invoice Center Entry scheduled payment transaction is created.
  • Miscellaneous Credit
    • General Ledger receives debit and credit.
    • Vendor Invoice Center Entry miscellaneous credit file is created, and Vendor Setup is updated.
  • Credit Memo
    • General Ledger receives debit and credit.
    • Vendor Invoice Center Entry and Vendor Setup are updated.
    • Vendor Invoice Center Entry scheduled payment transaction file is created.
  • Debit Memo
    • General Ledger receives debit and credit.
    • Vendor Invoice Center Entry and Vendor Setup are updated.
    • Vendor Invoice Center Entry scheduled payment transaction file is created.
  • Reversal
    • General Ledger receives debit and credit.
    • Vendor Invoice Center Entry transaction file is inactivated, and Vendor Setup is updated.
  • Manual Payment
    • General Ledger receives debit and credit.
    • Vendor Invoice Center Entry transaction file is inactivated, and Vendor Setup is updated.
  • Rebate
    • General Ledger is not affected.
    • Vendor Invoice Center Entry transaction file is inactivated, and Vendor Setup is updated.

Modifying payments

  • Process in Vendor Apply Misc Credit Entry
    • General Ledger is opened if it is fully divisionalized.
    • Vendor scheduled payment transaction is activated.

Paying and settling invoices

  • Process with Vendor Entry Pay Invoices Due Report
    • General Ledger receives debit and credit.
    • Accounts payable discount account is updated.
    • Vendor Invoice Center Entry file is updated, and Vendor Setup is updated.
  • Process with Vendor Entry Check Print Report
    • Scheduled payment terms are updated with check number.
    • CR Check Center Entry transaction is created, and CR Bank Setup is updated.
    • Check number is written to any costing transaction.

Year-end processing

  • Vendor Administrator Year End Report
    • Vendor Setup is updated and cleared for the new year.