Accounts Payable Invoices
Accounts Payable invoices can be entered from a screen that is opened either from the top of the Open Accounts screen or when viewing accounts payable for a specific vendor. These invoices generally are for internal expenses, rather than those generated from Purchase Orders when purchasing stock for resale.
Post and Review GL / Post – The entry will post using the accounts payable account from the vendor, the tax accounts as defined on Sales Tax codes, and the expense account from the entry screen – which defaults from the vendor. If Post and Review GL is selected, if user security settings allows it, you can add accounts and modify amounts on the entry. Changing the accounts payable control account is never allowed.
Type – There are four different types of accounts payable transactions that can be entered.
- Invoice
- Payment
- Vendor Credit: Transaction that decreases the Balance Outstanding for the vendor.
- Vendor Debit: Transaction that increases the Balance Outstanding for the vendor.
If the invoice entry screen was opened from within a specific vendor and by choosing the Invoice type from the black arrowhead next to New, the Type field will not be editable in the entry screen.
Vendor – Select an Existing vendor code for the invoice, or instead enter a combined invoice and payment for a One Time vendor, which does not need a vendor code. See the manual topic for One time vendors for more information.
Date – The date for the invoice, which also affects the fiscal period assigned when posting the GL transaction along with the entry.
Reference no. – The invoice document identifying number.
Purchase no. – A manually entered PO number, if one was given for this transaction.
Transaction no. – The next available GL transaction number in Company Settings, which is not reserved for this transaction. Posting will always re-read the next GL transaction number for use.
Terms – The payment terms code for this invoice that calculates the due date and if an early payment discount can be taken. Leaving the Terms code blank defaults the Due date to today, though the date can be edited.
Due Date – The due date for this invoice is automatically calculated from the terms selected above, a specific number of days after the invoice date. It can be edited to a different value if required.
Memo – An additional description that can be used to describe this invoice, if desired.
Expense Account – The GL account used for the expense debit portion of the transaction. By default it is read from the vendor expense account on the Billing tab, but if one is not set then the default account comes from Company Settings. It can be changed prior to posting.
Subtotal – An uneditable field that shows the Total before taxes, calculated from the Total and vendor taxes, (marker-yellow) or as a sum of the one or more expense accounts on the invoice.
Tax – One or more Tax fields for this transaction, based on how many tax codes are set for this vendor. They are editable for correction if necessary, usually to adjust by a penny or two.
Total – Total amount for the entry, including taxes if any are set for the vendor.
Job – The Job tab allows selection of a Job Costing code to assign the Accounts Payable transaction as an Expense amount for the job. For more information, read the Job Costing – Accounts Payable manual topic.