Vouchers serve as documented evidence of a debt or obligation. Vouchers are used to track and authorize payments, provide essential details such as the amount owed and payment terms. Vouchers ensure proper accounting practices within the payable process.
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Pre-Requisites
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Select the Payables button followed by the Voucher Entry button..
Click the New button.
Select a Vendor. Either key-in the Vendor #, select from the drop-down list, or right click to display the Vendor Search.
Specify an Invoice Number and Invoice Amount.
Clarify any optional fields such as Invoice Type, Bank Account, Miscellaneous, and Comment.
Click Save.
Click Insert.
Choose a G/L Account by either entering the Account Number manually, selecting from the drop-down list, or clicking the search ellipses (…) button to access the G/L Account search. Specify either a Debit Amount or Credit Amount.
The Job Number, Quantity, and Comment are optional Fields. Scroll to the left to input.
Follow steps 7 through 9 again for each G/L distribution line as needed.
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Fields and Descriptions:
Accounting Period. Specific timeframe for which financial transactions are recorded and summarized.
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Terms Code. Predefined set of conditions that dictate the payment terms agreed upon between a buyer and a seller.
Hold Payment. ??. Do not include in check run at this time.
Discounts
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Applicable Amt to Discount. This is the total amount that can be discounted. Example freight is excluded from discount
Force Disc. A manual adjustment made to the invoice amount to apply a discount that may not be automatically calculated by the system.
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Discount Amount. Monetary amount by which a seller reduces the price of goods or services provided to a buyer.
Anticipation %. This field is currently not used.
Discount Date. The date that the invoice needs to be paid by to receive the discount. Even though the payment might be due on the 15th, to receive discount, the payment needs to be paid by the 10th.
Discount Days. This can be configured as part of the terms and will set the discount date appropriately.
1099. An official document issued by businesses or entities to report various types of income paid to individuals or entities.
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