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 and Vendor Debit.
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. This text will be used as the default whenever a new Expense account is added to the list.
Expense Account – One or more GL accounts used for the expense debit portion of the transaction. By default the first account 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. This default can be changed prior to posting. Additional expenses can be added to this list, along with respective pre-tax Amounts, Memo text, and Job Accounts as required. When posting the invoice, all details will be maintained on the associated GL Transaction, even if the same expense account is entered on multiple rows.
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. This amount can be entered directly, or calculated from the expense amount(s) and tax(es) entered on that list. Generally you would choose to enter this amount when there is only a single expense, and allow it to be calculated when there are multiple expense accounts. When the Total amount is entered, this locks in the vendor invoice amount and the sum of expenses and taxes must match, and a remaining balance will be displayed for expenses still to be entered.
Job – A column on the expense account list that allows selection of a Job Costing code to assign to each expense account detail as an Expense amount. For more information, read the Job Costing – Accounts Payable manual topic.