Payments in process suspense account - AP
When check or cash payments are processed in accounts payable, typically the general
ledger postings debit the creditor's account and credit the bank account.
For credit transfers, the general ledger postings debit the creditor's account and credit the suspense account for payments in process. When the payments are cleared by the bank reconciliation process, the suspense account is debited and the bank account is credited.
This requirement is typical where a company has a separate treasury function.
How Infor meets this requirement
See the Financials Setup and Administration Guide for this information:
- Cash posting accounts
- Reconciliation accounts
- Cash code relationships
See the Payables User Guide.
See Processing cash.