Vendor Relations: Generated Transactions
As you process a purchase, you create and process a purchase order, a purchase receipt, an inventory receipt, an AP bill, and a payment for this bill. To update the balance of the pay-to vendor when vendor relations are set up, the system generates the GL transactions described in the following sections.
Transaction Generated on Release of an Inventory Receipt
When you create and release an inventory receipt generated from a purchase receipt with vendor relations set up, the system generates the following general ledger transaction.
| Account | Source of Account | Debit | Credit |
|---|---|---|---|
| Inventory account | The account specified for the item in the Inventory Account box on the GL Accounts tab of the Stock Items (IN202500) form | Amount | 0.00 |
| Inventory Purchase Accrual account | The account specified for the item in the PO Accrual Account box on the GL Accounts tab of the Stock Items form | 0.00 | Amount |
You can view the reference number of the GL batch generated for a particular inventory receipt in the Batch Nbr. box on the Financial tab of the Receipts (IN301000) form. You can click the link in this box to view the details of the batch on the Journal Transactions (GL301000) form.
Transaction Generated on Release of an AP Bill
On release of an AP bill prepared for the purchase receipt with vendor relations, the system generates the following general ledger transaction.
| Account | Source of Account | Debit | Credit |
|---|---|---|---|
| Accounts Payable account | The account specified for the pay-to vendor in the AP Account box on the GL Accounts tab of the Vendors (AP303000) form | 0.00 | Amount |
| Inventory Purchase Accrual account | The account specified for the item in the PO Accrual Account box on the GL Accounts tab of the Stock Items (IN202500) form | Amount | 0.00 |
You can view the reference number of the GL batch generated for a particular AP bill in the Batch Nbr. box on the Financial tab of the Bills and Adjustments (AP301000) form. You can click the link in this box to view the details of the batch on the Journal Transactions (GL301000) form.
Transaction Generated on Release of a Payment
On release of a payment for the AP bill with vendor relations set up, the system generates the following general ledger transaction.
| Account | Source of Account | Debit | Credit |
|---|---|---|---|
| Checking account | The GL account specified in the Account box on the Cash Accounts (CA202000) form for the cash account that is selected for the document on the Checks and Payments (AP302000) form | 0.00 | Amount |
| Accounts Payable account | The account specified for the pay-to vendor in the AP Account box on the GL Accounts tab of the Vendors (AP303000) form | Amount | 0.00 |
You can view the reference number of the GL batch generated for a particular payment in the Batch Nbr. box on the Financial tab of the Checks and Payments form. You can click the link in this box to view the details of the batch on the Journal Transactions (GL301000) form.