Creating Payable Invoices

Creating Payable Invoices

Purpose

Payable invoices may be created in a number of ways:
  1. Directly through the Payable System to post directly to the General Ledger
  2. Directly through the Payable System to post to a lending account.  These invoices are loaded directly to the payable account and will update the loan account at the same time.
  3. Through a lending account to update the Payable System.  These invoices can be loaded directly against the loan account and will update the payable account at the same time.
  4. The lending accounts that will interface to Payables are Fixed Loan, Variable Loan and Leases (at both the account and asset level, depending on the nature of the payable transaction).

Access

  1. Payable | Edit/View Payable Invoices |  | Payable Invoice Details
  2. Loan Account |  | 

Process


  to enter the line item details for each creditor invoice

There will be a separate  for each line item entered

Any payable invoice can have a single or multiple line items



Field
Explanation
Description
Enter a description of the goods or services provided

If this is left blank, it will default to the transaction type description nominated below
Quantity
Enter the quantity of the goods or services provided
Price Excl Taxes
Enter the price of the goods or services provided

If a negative amount is entered, the system treats this as a credit note

This amount will include/exclude taxes depending on whether or not the ‘Price Includes Taxes’ field is clicked on in the previous screen, Add Payable Invoice Details

If this checkbox had been checked on the field on this screen would be ‘Price Incl Taxes’


If this checkbox had been checked off the field on this screen would be ‘Price Excl Taxes’.  


Lease Account
[F2] to highlight and  a Lease Asset this invoice is to be charged against
Lease Maintenance Type
[F2] to highlight and  a Lease Maintenance Type the invoice will be allocated to

This field is only available if there is an entry in the Lease Asset field
Lending Account
[F2] to highlight and  a Lending Account that this invoice is to be charged to

This option is only available if a Lease Asset has not been selected
Transaction Type
[F2] to highlight and  a Transaction Type that will be used to post this invoice amount to the lending account selected above
GL Code
If a lease maintenance type has been specified, the GL Code associated with that will display

If a transaction type has been specified, the GL Code associated with that will display

The displayed GL Code can be changed at this point, but it is unusual to do so

GL Direct entries
   

For these payable items, the Lease Asset and Lending Account fields are ignored and the GL Code only selected
Tax Code
This will default to the tax code associated with the Payable Type selected for this batch of transactions
Rounding Adjustment
This can be used to enter an adjustment where the supplier invoice amount is slightly different to the Line Amount displayed on the right hand side of the screen

This may happen where there are GST rounding differences between systems




On  :
  1. If the invoice has been allocated to a lease asset, the details can be seen by clicking on the   button on the Edit Lease Asset Details screen
  2. If the invoice has been allocated to a lending account, the details can be seen by clicking on the   button on the account details screen
  3. If the lending account selected does not match the currency/company of the payable account as defined by its associated Payable Type, the following message will display:


    You must change the lending account to be one of the same currency, or close this window without saving
 
 
The Payable Invoice Details screen shows each of the line items that make up a supplier invoice
Once all line items have been entered, ensure the supplier total agrees to the Total
 
If the Total on the left hand side does not agree to the Supplier Total a message will display:

 

Corrective action should take place to ensure these agree

This can be done by either ing the incorrect line item(s) or changing the incorrectly entered Supplier Total

 returns to the Payable Invoice Browse:

 
Data entry for other payable invoices for this Payable Type can continue.
To add payable invoices for a different Payable Type, you must exit  the Payables Invoice Browse, and enter it again, nominating the new Payables Type

Entering Invoices directly to the Lending Account

Select the Lending account and at the details dialog  

The Payable Invoice Details screen will display

 
 
The Lease Asset and Lease Maintenance Types fields have been disabled because they do not apply

Enter required information

 

 
 
After this entry, the   button is disabled

It is only possible to add one line item to an account per payable invoice 

, The transaction will display on the Trans dialog

Account Transaction Posting

On  at the Payable Invoice Details screen, the following action takes place on the associated lending accounts:
  1. The value date and input date will be the same as the invoice value date, with the limitation that the input date may not exceed the lending system month end date.
  2. The transaction reference will be the Your Ref from the Payable Details screen.
  3. The transaction description will be the invoice lien item description plus the creditor description.
  4. The amount will be the invoice line amount inclusive of GST.
  5. The transaction type will be that entered against the invoice line item.
  6. At the same time the payable account will be updated with the amount due.  
  7. If the posting was directly to a GL Account, this will be updated as part of the payable month end processing.  Otherwise the GL Postings will take place from the lending account month end processes.

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