Use the Voucher Entry screen to record Invoices from Vendors.
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
Step-by-Step Guide
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Navigation
The Voucher Entry Form is located under Payables on the navigation bar.
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Voucher Entry Process in Payables
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.
Specify an and Invoice Amount.
Specify Clarify any optional fields such as Invoice Type, Bank Account, Miscellaneous, and Comment, etc. ..
Click Save.
Click Insert.
Select Choose a G/L Account . Either key-in by either entering the Account #Number manually, select selecting from the drop-down list, or click clicking the search ellipses (...…) button to display access the G/L Account Searchsearch. Specify either a Debit Amount or Credit Amount.
The Job Number, Quantity, and Comment are optional Fields. Scroll to the left to specify any optional fields such as Job #, Quantity, or Commentinput.
Repeat step #9 to #12 for any additional G/L distribution lines as desired.
Click Save.
Follow steps 7 through 9 again for each G/L distribution line as needed.
Fields and Descriptions:
Accounting Period. Specific timeframe for which financial transactions are recorded and summarized.
Vendor. A person or suppliers that provides goods or services to you company in exchange for payment.
Invoice Type. Classification assigned to different types of invoices for organizational and accounting purposes.
Invoice Number. A unique alphanumeric or numerical identifier assigned to an invoice.
Invoice Date. The specific date on which an invoice is issued.
Invoice Amount. The total monetary value specified on the invoice.
3rd Party Pay-To. Refers to a situation where an entity makes a payment on behalf of someone else to a third party.
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.
Discount %. Percentage by which a seller reduces the price of goods or services provided to a buyer.
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.
1099 Type. Different categories of income reported on 1099 forms.
1099- DIV (Dividends)
1099- MICS (Miscellaneous Income)
1099- INT (Interest Income)
1099-NEC (Nonemployee Compensation)
1099 Box. ??
Optional Fields and Descriptions:
Job Number. Unique identifier that is assigned to a specific task or project.
Quantity. Quantity, Amount.
Comment.
Invoice Type. Classification assigned to different types of invoices for organizational and accounting purposes.
Bank Account. Financial Account provided by a financial institution
Miscellaneous.