GL Posting – Purchase to Sale Tech Note

Posting Receipts in Purchasing – PORCVD

* The G/L accounts are set when the Purchase Order is entered. If A Purchase Order is created from a requisition, the accounts entered in the requisition are used. If a Purchase Order is created by making a copy of an existing Purchase Order, the accounts entered on the original Purchase Order are used. These accounts are modifiable by the user when the PO is entered (or Requisition). The initial value of the accounts (when a line is added to a Purchase Order for the first time) comes from the Items by Storeroom, Item, or Item Class tables (in that order). If the PO Type is “Service” the Expense account is used. If the PO Type is “Product” the Inventory account is used.

** The Inventory Accrual account comes from the Purchasing Parameters.

Posting Receipts in Purchasing - PORCVD

P.O. Type	Debit	Credit
Product P.O.	Inventory Account*	Inventory Accrual Account**

Posting Invoices in Accounts Payable - APINV

P.O. Type	Debit	Credit
Product P.O.	Inventory Accrual Account**	A/P Trade

If the Invoiced Amount is different than the PO amount, the accounts used for the receipt will be debited/credited for the difference of the amount received vs. the amount invoiced. Accounts are debited or credited based on the net difference between the PO and Invoice amounts.

Posting Checks in Accounts Payable - APPMT

Debit	Credit
A/P Trade	Cash

Posting an Adjustment to Inventory - ICADJ:

Decrease to Inventory (damage, sale, promotion):

Debit	Credit
Expense Account found in Reason Code or Over/Under Account	Inventory Account

Increase to Inventory (addition items found, physical inventory):

Debit	Credit
Inventory Account	Expense Account found in Reason Code or Over/Under Account

Posting Revenues in General Ledger From the Springer Miller Revenue Interface - FOSJ:

Debit	Credit
Settlement Account (cash/credit cards)	Revenue Account