PeopleSoft Payables Accounting Entries

The following accounting entry examples are based upon certain assumptions:

• Examples are based upon a single line voucher with the following details:

  • The business unit is DEU01.

  • The gross amount is 10,000.

  • The transaction currency and base currency is EUR.

  • Discount is 2 percent.

  • Distribution general ledger DEU01.

• Payments are made in the same currency as the voucher.

• Payments are made from a bank owned by the vouchering business unit.

• Accounting is at gross.

• The Summary Control value is specified as the default posting method.

• Two sets of payment posting results are shown: discount not taken and discount taken.

  In actual posting, only one entry is created.