Specifying transit invoices

A transit invoice lets you release your invoices and record your tax liability. To use this invoice entry option, you must set up the AP company to create transit invoices and define a distribution code. The distribution code assigns invoice expense distributions to a transit expense account. The expense portion of the invoice (the amount of the invoice minus the tax amount) is distributed to a transit account specified in the distribution code you have specified at the company, process, vendor/company, or vendor level.

You can only specify transit invoices if you specified Yes for the Create Transit Distributions field on the Options 2 tab of Company (AP00.4). Details on setting up a company for transit invoices are found elsewhere in this user guide. Defining an accounts payable company

Specify transit invoices

  1. Access Transit Invoice Entry (AP23.1).
  2. Specify or select applicable header information.

    After you specify data, you cannot change or delete invoices created in this form. The only valid form action is Add. You must use Basic Invoice (AP20.1) or Taxed Invoice (AP20.2) to change or delete invoices added on this form.

  3. Specify or select data for invoice.

After you add the invoices, release the invoices. Releasing invoices The application creates a tax distribution that can be maintained using Distribution Adjustments (AP30.2). Maintaining distributions