Definition of the Accounting Environment
PeopleSoft Payables uses tables to store not only the data for business transactions but also the accounting environment and processing rules that drive the system and provide consistency while minimizing data entry. Before you can begin processing suppliers, vouchers, and payments, you must set up the accounting framework, which includes calendars, ChartFields, ChartField values, currency types, user profiles, general ledger journal information, and so on.
You track payables transactions based on the ChartField combinations that you define when you set up ChartField combination editing in PeopleSoft General Ledger. PeopleSoft General Ledger uses your accounts in combination with other ChartFields to create journal entries. In PeopleSoft Payables, ChartField combination editing provides a method to validate online and batch voucher entry accounting distribution information.
By defining valid combinations, you can filter entries before you post them to ledgers, saving time and effort during reconciliation and closing. Although you employ ChartField combination editing rules during online and batch voucher entry, the PeopleSoft General Ledger Journal Editing Application Engine process (GL_JEDIT) performs the final validation of journal entries before you post them to the ledger.
You can set up ChartField combination editing to reject vouchers with ChartField combination editing errors, recycle them, provide a warning, or perform no ChartField combination editing at all. You can set these options at the business unit, origin, control group, and supplier levels of the PeopleSoft Payables control hierarchy.