Navigation:  Accounts Payable > Accounts Payable Transactions Menu >     Generate Payables Journal Entries

This task generates Journal Entries for those Accounts Payable transactions that have not yet had their Journal Entries generated and inserts these Journal Entries into the General Ledger.

 

 

One Journal Entry typically summarizes many transactions. Transactions with the same GlType, Transaction Date, Payables Subledger Control Account (and CurrencyID) and CurrencyRate (e.g. the same GlType, ApTransDate, ApSubledgerAccountID and CurrencyRate) are summarized on the same Journal Entry. Remember that different ApTypes may have the same GlType so different ApTypes may be summarized on the same Journal Entry.

 

When the Journal Entry is generated, the GlTransID of that Journal Entry is saved in the GlTransID field on the ApTrans record for each Payables transaction summarized by that Journal Entry. This ensures a full audit trail.

 

If a Payables transaction has not had a Journal Entry generated for it, its GlTransID field is blank.

 

When Currency Manager is installed the applicable CurrencyID and CurrencyRate are specified for each Payables transaction. Their Journal Entries are aggregated also including CurrencyRate. CurrencyID is already implicitly used in aggregating Journal Entries since the applicable ApSubledgerAccountID determines it. Currency adjustments are automatically reflected within the generated Journal Entry.