SedonaSetup Application Accounts Payable Setup Tables/Options
Setup Processing (AP) Field Definitions
GST Information
This section is used for companies operating in Canada only.
GST Number – Enter the government issued Goods and Services Tax identification number for your company.
GST Rate – Enter the current GST tax rate that will be used on accounts payable bills and credits.
GST Pay Account – Select the general ledger account number to use for posting GST tax on accounts payable bills and credits.
Other
Enter Separate Posting Date for Bills and Credits – Selecting this option will enable a posting date field on the accounts payable bills and credits form. This allows you to enter the date you want the transaction to post to the general ledger. Normally the general ledger posting date is the date of the accounts payable bill or credit. The posting date entered must be in an accounting period with an open or re-opened status.
Auto Update Purchase Price when Billed – If this option is selected and the Average Costing Method is used for Inventory valuation, when an accounts payable bill is entered for an inventory parts receipt and the amount being billed is different that the amount at which the parts were received, the application will automatically update the current purchase cost of the part for the vendor when the bill is saved.