What posts in Payables
Five Payables documents post: Vendor Invoice, Vendor Invoice Memo, Payment, Vendor Settlement and, through them, Batch Posting. They post when saved with Posting Status Posted (a settlement always posts). Everything else in Payables is setup and posts nothing.
| Document | When | Debit | Credit |
|---|---|---|---|
| Vendor Invoice, against a receipt | Save as Posted | The receipt's clearing side and input tax, per the invoice's posting setup; item-ledger cost elements and price differences revalue the stock through the Cost Revaluation Journal | The vendor's payable account |
| Vendor Invoice, free text | Save as Posted | Each line's Account; input tax; cost elements' debit side | The vendor's payable account; cost elements' credit side |
| Vendor Invoice Memo | Save as Posted | The vendor's payable account | The lines' accounts or the return's accounts; input tax reversed |
| Payment | Save as Posted | The vendor's payable account for the amount cleared (or the advance account); fees; adjustments | The Payment Through account; withholding tax payable; exchange gain or loss as it falls |
| Vendor Settlement | Save | The vendor for the invoices cleared | The vendor for the memos and advances used; exchange gain or loss as it falls |
| Batch Posting | Save | Posts each listed document as above |
Where the accounts come from
- The vendor's payable account: the company's posting profile, by the vendor's Vendor Group (and the posting profile on the vendor or invoice, if any). Set on Posting Profile in General ledger.
- Which lines a screen posts, and on which side: the process post keys of the screen, on Process Post Key in General ledger. They are what turn the amounts above into voucher lines.
- Line accounts on free-text invoices and memos: typed on the line.
- Tax: the tax group and zone of the line, and the tax code's accounts.
- Payment Through: the Payment Method's Default account, or the account picked on the line.
- Withholding tax: the withholding code's account in the default posting profile.
- Fees: the Payment fee's account (General Ledger layer) or the vendor (Vendor Ledger layer).
- Adjustments: the Adjustment Type's account.
- Cost elements: the Cost Element's debit and credit layers and accounts.
- Rounding: the currency's rounding difference account.
Undoing a posting
Reverse on the toolbar of the posting document, with a Reverse Date on or after the posting date. The reversal voucher is linked in Reverse Voucher No. Undo in reverse order: bank transactions, then payments, then invoices. A parked document posts nothing: edit or delete it instead.
Documents that never post
- Payment Request: it asks; the Payment posts.
- Payment Released: records the cheque handover only.
- Every vendor and setup screen.
- A document saved as Park: its voucher waits, unposted, until it is posted.