Enter A/P Credits - Transaction Entry Tab

Access this form using Transactions>Accounts Payable>Enter A/P Credit.

Use this form to enter an applied credit for posted vendor invoices, enter an on account credit for an existing vendor, or enter an applied credit to reduce an on account credit. (The A/P Credits Session form always precedes it.) Entering and posting an applied credit reduces the balance of an existing invoice or on account credit. Entering and posting an on account credit increases the balance owed from an existing vendor. In order for an on account credit to be recorded to the Accounts Payable subledger, you must have set up the General Ledger payable account as an account type of Accounts Payable - Vendors.

Use this tab to enter document and transaction information.

 

Credit

• To create a new document, enter a unique ID or press the "+" (plus) key to have the system assign a document ID.
• To edit or view an existing document, select it from the drop-down list.
• We recommend limiting your entry to strictly alphabetic characters (A through Z) or numeric characters (0 through 9), and avoiding the use of symbols, such as: | and ".

• When the entered credit number exists for the selected Vendor ID with the Credit Type of On Account , the system changes this field from Credit to Appending Credit, and this entry modifies the original credit. This option is only available if the Allow Appending Entries to Invoices and On Account Credits check box was selected by the Administrator on the Organization>Set Up Modules>Accounts Payable form.

Date: Accept the session date, or enter a valid date specific to this document.

Amount: Enter the amount of the credit, omitting currency and grouping symbols. The document amount and the net of the transaction lines must equal if the Session status is BP or OL. If the status is BS, these lines can be out of balance.

Description: Accept the session description, or enter a description specific to this document.

Vendor ID: Select the vendor that is associated with the on account credit, or use Find to help you select an ID. The vendor can have a status of Active or Inactive. After you select an ID, the Choose Invoices form displays. After selecting the credit type, invoice/credit number, the system displays the appropriate data in the table.
To display only the 200 most recently used IDs in the drop-down list, select "View Frequently used IDs" on the Options>Customize Workstation Settings>Preferences tab.

Check Address: Accept the default Preferred Check Address for this Vendor ID, or select a different check address from the drop-down list. If the Check Address you are looking for is not available in the drop-down list, complete the following steps: Click Vendor Information to display the Vendors form; select the Address tab and then the Check Address button; enter a new Address Code and complete the form; be sure to save your changes and close the form; once saved, the Check Address will automatically refresh the drop-down list on the Enter A/P Invoices form.

Note: If Credit Type Applied Credit is selected, the system displays, as read-only, the address selected on the original invoice, in the Check Address field.

1099 Type: Accept the default entered on the Maintain>Accounts Payable>Vendors>1099 Information tab or select a 1099 form type from the drop-down list, such as NEC, MISC, DIV, INT, R, or W2G.

Credit Type: Applied Credit or On Account displays depending on which Invoices Credit Type was selected on the Choose Invoices form for that vendor.

Transaction Entry Table: In order for an entry to be saved or posted, every line item must include all required account codes (segments) for the organization, an invoice/credit number, a debit or credit amount, an effective date, an entry type, and a description. These fields can be found on all transaction entry forms. However, the following fields are specific to this form, see Transaction Entry Overview.

• 1099 Box: If you entered a 1099 box number, when you set up this Vendor (Maintain>Accounts Payable>Vendors form), you need to select that number here.
• Exchange Rate: The default Exchange Rate displayed here is determined by cross referencing the Effective Date used in the transaction line to the Active Date entered on the Maintain>Multicurrency>Exchange Rates form, for the Currency and Rate Type selected on the Session form. The Administrator can override the default exchange rate for the Currency selected on the Session form, if the Allow Rate Override During Transaction Entry check box is selected (Organization>Set Up Modules>Multicurrency). For more information, see Multicurrency Dates.
  

• {User Defined Field}: This column displays any Transaction Lines type user defined field that was assigned the APM transaction source. The system automatically appends one column for each field (to the right of the Transaction Entry table). These fields were created by the Administrator using Organization>Set Up User Defined Fields. Currency user defined fields follow the formatting of the organization's functional currency, even though the data is still processed in the currency selected on the Session form (if it is different than the functional currency). If flow-thru was set up by the Administrator (Organization>Set Up UDF Default Sources), a UDF value can flow from Transactions>Accounts Payable>Enter A/P Invoices to this tab.
• Click Choose A/P Invoices to see all available open invoices and on account credits for this vendor. Remember, when you select an invoice on the Choose Invoices form, the data displays in this table, and you cannot change the invoice/credit number.
• When entering Credit Types of On Account, click Apply Expense Credit as Offset to add offset account assignments.