Payment Segment Financial Transaction Algorithms Transfer Holding Amounts to Payable GL Accounts
Logic exists in the pay segment's FT algorithm that transfers amounts from payable holding distribution codes to their respective payable real distribution codes.
Fastpath:
Refer to Setting Up Payment Segment Types for how to define the appropriate FT algorithm.
The following table shows what happens to the financial transaction associated with the payment segment for a cash accounting customer.
|
Event |
GL Accounting |
|
Bill segment is created |
A/R 110 Revenue <100> Tax Holding <10> |
|
Payment segment relieves receivables |
Cash 110 A/R <110> |
|
Additional GL details created when the payment segment FT algorithm transfers the holding amount to a payable account |
Tax Holding 10 Tax Payable <10> |
|
Net effect of the above |
Cash 110 A/R <110> Tax Holding 10 Tax Payable <10> |