Additional Purchases Accounts for Vendors

| 07/29/2011 | 1 Comment

Hi all

Sometimes, when we book invoices against vendors, we might have to post the expense into multiple GL accounts based for the purpose of financial reporting. Mostly I have seen a specific purchases account defaulted at the vendor level and the users manually add additional expense lines at the distribution window at the time of transaction entry and apportion the expense to the various expense GL accounts.

This can be quickened, especially if we are able to identify the most common expense heads which get posted into at the time of the payables transaction. Once the accounts are defined, you can enter the various purchases accounts at the Vendor Account Maintenance window, by clicking on the image button near the purchases account description as shown below.

image      image

When the button is clicked, the Additional Vendor Accounts window is opened where we can enter the additional purchases accounts needed. You can also define these additional purchases accounts at the vendor class level as well. We can also specify which accounts should default on the transaction distribution entry window as well. These additional accounts which have been marked to default will automatically display on the distribution entry window as shown below.

image

The amounts default to 0 for these lines. The user can apportion the amounts to these accounts if necessary (or) leave them as 0 and continue posting the invoice without apportioning. If we leave the additional purchases account as 0, the system ignores those lines during the posting process and only picks the accounts which have an amount associated to it.

This would be really a time saving feature for many of the clients who may be doing this process manually day in and day out.

Hope this helps the community…

Until next post!

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Category: Accounts Payables, Dynamics, Great Plains

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