Cash Payables Transaction Thru AP Account
ACME Co is a focused network of community and social websites that include G*****.com, T*****.com, A*****.com, and L*****.com. They use Dynamics GP as their ERP system.
To support a reporting requirement of their Auditor, ACME Co needs to create Payables Transactions with the following distributions when the transaction is entered with either a cash or check payment:
1. Cash Account (standard GP)
2. Purchases Account (standard GP)
3. Debit AP account
4. Credit AP account
The entries in #3 and #4 in the list above are not standard GP functionality. ACME Co would like to automatically add these accounts to the Payables Transaction Distributions.
Payables Transaction Entry
There is no user interface for this enhancement.
When a Payables Transaction is entered through the Payables Transaction Entry window and the following criteria is met:
- Payment Type equals Invoice, Finance Charge or Misc Charge AND
- An Amount is entered in the Cash and/or Check fields
The enhancement will add the following two entries to the Distribution Accounts during posting of the Payables Transaction. Posting is supported through the Payables Transaction Entry window and the Payables Batch Entry window only.
- Debit to the Accounts Payable Account set in the Posting Accounts Setup Window for the amount(s) entered in the Cash and Check fields combined. The Account Type will be set to PAY.
- Credit to the Accounts Payable Account set in the Posting Accounts Setup Window for the amount(s) entered in the Cash and Check fields combined. The Account Type will be set to PAY.
In the example below, an AP Invoice has been entered for $1,000.00 with a corresponding $1,000.00 Cash Payment entered at the same time:
The enhancement will add a credit and debit entry to the default Accounts Payable account (Account Type = PAY) for the amount entered in the Cash and/or Check field on the Payables Transaction Entry window during the posting process:
Payables Distribution Zoom
The debit and credit to the Accounts Payables Account will be visible in the Payables Distribution Zoom window for posted Payables Transaction Documents which have been updated by the enhancement.