Accounting Entries for Standard Vouchers
The following examples illustrate accounting entries for regular vouchers.
Action: Voucher Entered and Posted
There are two accounting entries for the voucher transaction: expense distribution and accounts payable. The expense distribution entry tracks who should incur the expense and applies to the distribution general ledger business units that you entered on the voucher. The accounts payable entry accounts for what is owed to the supplier and applies to the vouchering payables business unit. For this voucher transaction, both of these entries are recorded to the general ledger business unit DEU01.
|
GL Business Unit |
Distribution Account Type |
Foreign Amount |
Foreign Currency |
Monetary Amount |
Currency Code |
|---|---|---|---|---|---|
|
DEU01 |
Expense Distribution |
10000 |
EUR |
10000 |
EUR |
|
DEU01 |
Accounts Payable |
(10000) |
EUR |
(10000) |
EUR |
Action: Payment Entered and Posted, Discount Not Taken
There are two accounting entries for the voucher transaction at payment time: accounts payable and cash distribution. The accounts payable entry removes the liability that was created when the voucher was posted. The cash distribution entry represents the actual cash payment and the reduction to the cash account. For this voucher transaction, both of these entries are recorded to general ledger business unit DEU01.
|
GL Business Unit |
Distribution Account Type |
Foreign Amount |
Foreign Currency |
Monetary Amount |
Currency Code |
|---|---|---|---|---|---|
|
DEU01 |
Accounts Payable |
10000 |
EUR |
10000 |
EUR |
|
DEU01 |
Cash Distribution |
(10000) |
EUR |
(10000) |
EUR |
Action: Payment Entered and Posted, Discount Taken
The new entry in this example is for the discount earned account. Because accounting is set at gross and our liability is the gross amount of the voucher, it is necessary to create an entry for the discount earned account to maintain a balanced entry.
|
GL Business Unit |
Distribution Account Type |
Foreign Amount |
Foreign Currency |
Monetary Amount |
Currency Code |
Calculation |
|---|---|---|---|---|---|---|
|
DEU01 |
Accounts Payable |
10000 |
EUR |
10000 |
EUR |
|
|
DEU01 |
Cash Distribution |
(9800) |
EUR |
(9800) |
EUR |
10000 - (10000 * .02) |
|
DEU01 |
Discount Earned |
(200) |
EUR |
(200) |
EUR |
10000 * .02 |