GL Accounting Information

Be aware that if payoff amount is non-zero, the financial transaction has general ledger detail lines.

There are unusual financial transactions whose payoff amount is zero, but still affect the general ledger:

• Bill segments for company usage do not impact payoff amount (because your organization doesn't really owe itself anything). However, the GL is affected.
• Payment segments for charitable contributions (created when your customers contribute extra money to a charity) do not impact payoff amount. Why? Because payoff amount is never debited when a charitable contribution is billed (the customer doesn't truly owe you for this receivable). It's only when the customer pays the contribution that the GL is impacted (debit cash, credit charitable contribution payable).
• If the SA has a special role of Loan, the financial transaction algorithms supplied with the base package transfer the current amount between the long-term receivables and the short-term receivables in the GL. This allows the general ledger to differentiate between unbilled loan receivables (long term) and billed loan receivables (short term). Refer to Payoff Balance and Current Balance for Loans for more information.

The effect on your GL is controlled by the financial transaction algorithm defined on your bill segment and payment segment types.