Accounts Payable Bills Entering Bills with a Receipt

Entering Bills and Matching to a Receipt

Once a Purchase Order is received for Inventory Parts or Expense Items a Receipt record is created and posted to the General Ledger.  If receiving purchase orders, it is important to always match a bill to a receipt record.  If a bill is entered and not matched to the corresponding receipt record, the Inventory Receipts account on the balance sheet will be overstated.

Parts Received into a Warehouse

For parts receipts, a debit is posted to the Inventory account associated with the warehouse into which the parts were received and a credit is posted to the Inventory Receipts account (SedonaSetup G/L Account Defaults for AP). 

Parts Received as a Direct Expense

If the parts were direct expensed on the Purchase Order, by default a debit is posted to the COGS account in SedonaSetup Inventory Setup, however the User may override the COGS account on the part receipt record; the credit is posted to the Inventory Receipts account.

Expense Items Received

For Expense Item receipts, a debit is posted to the G/L account(s) specified on the Purchase Order and a credit is posted to the Inventory Receipts account.

Follow the instructions below to enter a bill by matching to a receipt record.

1.  The User may enter a new Bill either from Accounts Payable/Bills or from the Vendor Explorer and right-clicking on the Bills tree option and selecting New Bill.

 If entering several Bills for the same Vendor, it is easier to work from the Vendor Explorer record.

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