Journal Entries for Voucher Transactions

The system generates journal entries when you create a voucher so that the appropriate purchasing expenses and liabilities reflect in the general ledger. After the system generates journal entries, you can review the entries and post them to the general ledger.

To ensure the integrity of the data, you can verify that voucher amounts balance between the accounts payable ledger and the general ledger.

When you create a voucher for items that you formally receive, the system creates a journal entry that debits a received not vouchered account. When you create a voucher for items that you do not formally receive, the system creates a journal entry that debits an expense account.

The system creates accounts payable offsetting entries when you post the voucher journal entries to the general ledger.

If a variance exists between the cost of goods or services on a purchase order or receipt record and the cost on the voucher, the system creates journal entries for the variance. You must specify variance accounts in the AAIs.

If you charge purchases against general ledger account numbers (expense accounts), the line type you assign to a detail line determines whether the system charges a variance to the expense account or a variance account.

You can review the journal entries that the system creates for a voucher using the Voucher Journal Review program (P0011). You can review the amount of each entry and the account to which each amount is debited or credited.