Creating and Updating Accounting Entries

Page Name

Definition Name

Usage

Accounting Entries Page

GROUP_ENTRY1_DSP

Review and correct errors for accounting entries in a payment group.

See also Entering or Updating Pending Items and the Accounting Entries Page for more information.

When you post payment groups, the Receivables Update process creates the group and accounting entries. To review the accounting entries before you post the group, you can create them online using the Worksheet Action page. The system edits for ChartField combination errors when you create the accounting entries in batch or online if you enabled ChartField combination editing on the Receivables Options - General 2 page for the business unit. You cannot post the accounting entries until you fix the error if you selected Recycle in the ChartField Editing group box.

Use the Accounting Entries page to review and update accounting entries that have already been created for payment groups. You can edit the AR (receivables) lines for these types of new items that do not reference existing items:

  • Prepay an Item (WS-04)

  • Place an Amount on Account (WS-05)

  • Adjust Remaining Overpayment (WS-06)

  • Adjust Remaining Underpayment (WS-07)

  • Create a Deduction (WS-08)

  • Write-off an Overpayment (WS-10)

  • Write-off an Underpayment (WS-11)

Note: You cannot edit the AR lines when the system generates two transactions for the same new item ID, because the AR line must match for both transactions. This applies when a Write-off an Overpayment (WS-10) item automatically creates an Adjust Remaining Overpayment (WS-06) item, or when a Write-off an Underpayment (WS-11) item automatically creates an Adjust Remaining Underpayment (WS-07) item.

You can edit the user-defined line for these type of transactions:

  • Take Earned Discount (WS-02)

  • Take Unearned Discount (WS-03)

  • Write-off an Item (WS-09)

  • Write-off an Overpayment (WS-10)

  • Write-off an Underpayment (WS-11)

Note: You cannot edit entries if you selected the Always Inherit or Inherit within BU inheritance option.

For errors in Pay an Item (WS-01) transactions:

  1. Delete the entries using the error correction pages.

  2. Modify the combination edit rules so that the combination is valid or modify the ChartField combination on the External Account page for the bank account if the error is on the Cash line.

  3. Rerun the Receivables Update process.

Important! To keep the accounting entries balanced when you make changes, select the IntraUnit Balancing Entries check box on the General Ledger > Ledgers > Ledger Groups > Balancing page. This enables the system to create intraunit accounting entries across the from and to line.

If the original item that an item references has project ChartFields and you imported it from PeopleSoft Billing, and you want to use the same ChartField values, access the AR Billing Inquiry page for the item and click the Bill Header - Project Info link. This enables you to view the project ChartFields on the bill heading in PeopleSoft Billing.

Use the Accounting Entries page (GROUP_ENTRY1_DSP) to review and correct errors for accounting entries in a payment group.

Navigation:

Accounts Receivable > Receivables Update > Correct Posting Errors > Payment > Accounting Entries