AP Bills: Process Activity

The following activity will walk you through the process of creating and releasing an AP bill.

Video Tutorial

This video shows you the common process but may contain less detail than the activity has. If you want to repeat the activity on your own or you are preparing to take the certification exam, we recommend that you follow the instructions in the steps of the activity.

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Story

Suppose that on February 2, 2024, SweetLife Fruits & Jams company purchased office supplies on credit from the Spectra Stationery Office vendor for $790. The vendor sent invoice SW00063 to SweetLife.

Acting as a SweetLife accountant, you need to create an AP bill for the vendor, release it, and then review the GL batch generated by the system.

Configuration Overview

For the purposes of this activity, the following features have been enabled on the Enable/Disable Features (CS100000) form:

• Standard Financials, which provides the standard financial functionality
• Multibranch Support, which supports multiple branches in your instance of MYOB Acumatica
• Multicompany Support, which supports multiple companies within one tenant.

On the Accounts Payable Preferences (AP101000) form, the Hold Documents on Entry check box has been selected in the Data Entry Settings section.

On the Vendors (AP303000) form, the STATOFFICE (Spectra Stationery Office) vendor has been configured.

Process Overview

In this activity, you will create an AP bill on the Bills and Adjustments (AP301000) form. In the bill, you will specify the vendor in the Vendor box of the Summary area and the document details on the Details tab. When the bill is ready, you will release the document by clicking Release on the form toolbar.

System Preparation

To prepare the system, do the following:

1. Launch the MYOB Acumatica website, and sign in to a company with the U100 dataset preloaded. To sign in as an accountant, use the following credentials:
   • Username: johnson
   • Password: 123
2. In the info area, in the upper-right corner of the top pane of the MYOB Acumatica screen, click the Business Date menu button and select 2/7/2024. For simplicity, in this activity, you will create and process all documents in the system on this business date.
3. On the Company and Branch Selection menu, also on the top pane of the MYOB Acumatica screen, make sure that the SweetLife Head Office and Wholesale Center branch is selected. If it is not selected, click the Company and Branch Selection menu to view the list of branches that you have access to, and then click SweetLife Head Office and Wholesale Center.

Step 1: Creating an AP Bill

To create an AP bill, do the following:

1. Open the Bills and Adjustments (AP301000) form.
   Tip:

   To open the form for creating a new record, type the form ID in the Search box, and on the Search form, point at the form title and click New right of the title.
2. Click Add New Record on the form toolbar, and specify the following settings in the Summary area:
   • Type: Bill
   • Vendor: STATOFFICE
   • Date: 2/7/2024 (the current business date, which is inserted by default)
   • Post Period: 02-2024 (inserted by default based on the selected date)
   • Vendor Ref.: SW00063 (the reference number of the document sent by the vendor)
   • Description: Office supplies
3. On the Details tab, click Add Row and specify the following settings for the added row:
   • Branch: HEADOFFICE (inserted by default)
   • Transaction Descr.: Office supplies
   • Ext. Cost: 790
4. On the form toolbar, click Save.

Step 2: Releasing the AP Bill

To release the AP bill, do the following:

1. While you are still on the Bills and Adjustments (AP301000) form, click Remove Hold on the form toolbar.

   This gives the bill the Balanced status. You can release a bill only if it has this status.

2. On the form toolbar, click Release.

   This gives the bill the Open status. The released AP bill is shown in the following screenshot.

   
   
   

Step 3: Reviewing the GL Batch Generated on Release of the Bill

To review the generated GL batch, do the following:

1. Open the Financial tab, and click the number in the Batch Nbr. box.

   When you released the bill, the system generated and released this batch in the general ledger. The batch is assigned the first number in the sequence specified in the GL Batch Numbering Sequence box on the Accounts Payable Preferences (AP101000) form, which determines the numbers assigned to batches generated from the accounts payable subledger.

2. On the Journal Transactions (GL301000) form, which is opened, review the transaction that has been generated on the release of the bill.

   The 20000 (Accounts Payable) AP account has been credited with $790, while the 62400 (Office Expense) expense account has been debited for the same amount.