What is the difference between the account no and the balance accoutn no field? Generally are we supposed to place the vendor account in the account no field and the corresponding G/L account in the balance account field? Thanks in advance.
i think you answered your own question
quote:
Originally posted by reckless
What is the difference between the account no and the balance accoutn no field?
The “Balancing ” fields are split into a new G/L Line when you print using the applies-to document no. or when you post using apply entries.
Have a good weekend!
-Jacob
If you are doing a payment journal, then your Balance Account would be a bank account (on the assumption you are printing cheques)
Your assumption is correct - I am printing checks. What about the Account No. Field? Is that the Vendor? Where does the G/L account go for reporting/tax purposes? Does the G/L account go in the vendor card? If so, how do I go about inserting it? Thanks for the help. What does post using apply entries mean?
Account Type and Account No. are the pay-to and the Account Type can be Customer, Vendor, Bank Account, or G/L Account (for things like Misc. Office Supplies where a vendor is not desired). Bal. Account Type and Bal. Account No. are the pay-from (e.g. “Bal. Account Type” of “Bank Account”, “Bal. Account No.” of your Navision Bank Account card “No.”). You’ll also need to set the “Document Type” to “Payment” (generally, “Refund” for Customers) and the “Bank Payment Type” to “Computer Check”. You may, at your discretion, include the “Applies-to Doc. Type” and “Applies-to Doc. No.”. This will print on the remit stub of the check and post the application inside the sub ledger (e.g. Vendor Ledger Entries). Doing so will allow you to print a check for multiple Vendor documents. Checking “One Check per Vendor per Document No.” on the “Print Check” Options tab, will cause a new Payment Journal Line to be created when you print. Otherwise you will get one check per Payment Journal Line and the new Payment Journal Line will be generated “on the fly” when you post. This option is not available when you use “Apply Entries…” from the “Functions” button. The “Apply Entries…” selection on the “Functions” button allows you to avoid using the “Applies-to Doc. Type” and “Applies-to Doc. No” fields. This functionality more resembles the manual application of documents in the Vendor/Customer sub ledger.
quote:
Originally posted by reckless
Your assumption is correct - I am printing checks. What about the Account No. Field? Is that the Vendor? Where does the G/L account go for reporting/tax purposes? Does the G/L account go in the vendor card? If so, how do I go about inserting it?
Hi, If you are making a payment to a vendor, you select: Document type: Payment Account type: Vendor Account No: (Vendor No) Balancing Account Type: Bank Balancing Account No.: (Bank No). The G/L balance sheet and purchase accounts will be defined by the posting groups selected on the invoicing tab on the vendor/Bank card. it will be better if you can also specify your reporting/tax requirements. regards