Offset Account Assignments

Access this form using Maintain>Offset Account Assignments.

Use this form to create, edit, or delete offset account assignments to be used during transaction entry. The offsets generated here override any existing offsets that use the same Entry accounts.

When entering transactions (such as, Cash Disbursements and Cash Receipts) you can enter the debit side of a transaction, and then, click Use Offsets . The system automatically creates the balancing (credit) side using the offset information you provide here. These offsets are also used when the system creates entries to record documents it has generated, such as Accounts Payable check printing.

 

Transaction Source: Select the transaction type for the offset assignments. You can choose from the following transaction types:

• APC (Accounts Payable Checks)*
• API (Accounts Payable Invoices)*
• APM (Accounts Payable Credits (On Account))*
• ARB (Accounts Receivable Invoices)*
• ARC (Accounts Receivable Receipts)*
• ARM (Accounts Receivable Credits)*
• ARP (Accounts Receivable Prepayments)*
• CD (Cash Disbursements)
• CR (Cash Receipts)
• JV (Journal Vouchers)

*These are only available if the A/P, A/R Billing or A/R Reportingmodules are installed.

Transaction Entry Accounts

• Fund, GL: Select the transaction entry Fund account (if one of your segments is fund) and General Ledger account. Enter these accounts before activating the automatic offset.
• Currency: Select the transaction entry currency type from the drop-down list. This field is only available if this module has been installed and added to the organization by the Administrator (Organization>Add a Module). For Multicurrency, each transaction document is created in a single currency. Therefore, direct transfers between alternate currency cash accounts are not possible within the same document. If a cash account is designated for the transaction entry General Ledger, the drop-down list for the Automatic Offset GL Account only display General Ledger cash accounts whose currency matches the Entry General Ledger currency and the functional cash accounts. This field is only available for ARC and APC transaction types and represents the invoice currency for the offset assignment. For all other transaction types, the field is not available and displays the currency of the transaction entry General Ledger account.
  • Currency is primarily used with the ARC and APC transaction types to facilitate paying or receiving cash payments in a currency that is different than the currency that the invoice was entered in (such as when an invoice is entered in Canadian dollars, but the check will be paid in US dollars). See Process to Settle Open A/P and A/R Transactions for more information.
  • For the ARC and APC transaction types, selecting ANY allows you to enter a single offset assignment and have it apply to all active currencies. When you click Save, the offset assignment entered is duplicated for each active currency. Offsets are not stored with the ANY value for the ARC and APC transaction types.
  • For transaction types other than APC and ARC, ANY displays if the transaction entry General Ledger is not an alternate currency cash account. In these cases the ANY value is stored as part of the offset assignment. Alternate currency cash accounts are currency specific and if one is chosen as a transaction entry General Ledger, then the transaction entry currency is automatically set to the currency of the that cash account.

Automatic Offset Accounts Fund, GL: Select the offset Fund account (if your account structure includes a fund segment) and General Ledger account. The General Ledger offset account is the common account for that transaction type. For example, the common account for a cash disbursement transaction is the cash account and the common account in an Accounts Payable invoice transaction is the Accounts Payable vendor account.

Due To/Due From Accounts For the Transaction Entry Fund, For the Offset Entry Fund: Select the appropriate Due To/Due From Accounts, so your funds stay in balance. Only enter accounts here if you have a Fund segment, and the transaction entry fund account is different from the automatic offset fund account.