Accounts Payable > Setting up for Production

Before you begin ... General Ledger preparation

Ensure these necessary General Ledger accounts are set up before you continue...

•	Subledger Control Account(s)

•	Cash Discount Earned Account(s)

•	Bank Account(s) for issuing Checks

•	All other General Ledger Accounts used with Accounts Payable

Use the Chart of Accounts maintenance task to set up the necessary accounts.

Setting up for Production

Use the Accounts Payable Setup task to do items 1, 2 and 3.

1.	Specify the Subledger Control Account(s) and Cash Discount Earned Account(s).

2.	Optionally add any other ApTypes if applicable.

3.	Optionally specify commonly used AccountIDs for particular ApTypes.

4.	Specify the Bank(s) used for issuing Payables Checks using the Bank maintenance task.

5.	Set up the Supplier table to contain at least those Suppliers who have opening balance transactions.

6.	Enter or Import the opening Supplier transactions.

If you are converting an existing Accounts Payable and/or have your Supplier data in a suitable file format then you may be able to import the transactions and/or Supplier data. Please review the online documentation for information

If you will be Importing transactions, then those Suppliers must be set up in advance of Importing any transactions for them. That is, you cannot Import transactions for Suppliers who don't exist in either the Supplier table or the SupplierImport table.

Supplier setup

Use the Supplier maintenance task to enter Supplier data or import the data into the SupplierImport table and use the Import Suppliers task.

You can always add Suppliers as you require them. So it's not strictly necessary to set them up here in advance of transaction entry. However, you will likely find it easier to set up all the Suppliers first, and then post their opening balances afterwards.

Import opening Payables transactions

As an alternative to keying in these opening Payables transactions, you may be able to Import them.

For information about Importing transactions please review the Import Payables transactions task.

Enter opening Payables transactions

The opening Accounts Payable Supplier transactions are entered using the Enter Payables transactions task. A description of this task is provided later.

These outstanding invoices should be entered individually for each Supplier so that the applicable Pay Date, Net Date and Cash Discount Date fields are properly established.

As noted in Setting up General Ledger for Production the amounts for Subledger Control account balance(s) should be posted to a Suspense account and not directly to a Subledger Control account. Otherwise the Journal Entries resulting from the opening balance transactions posted to Accounts Payable would flow through and "double up" the balances in the Payables Subledger Control account.

The General Ledger distribution details of these opening balance transactions will also flow into the General Ledger. Therefore, opening balance transactions should be distributed only to the Suspense account and not to any other accounts. After the Journal Entries for those opening balance transactions have been generated the Subledger Control Account balance would reflect the true balance and the net effect on the Suspense account would be zero.

If you intend to enter a number of opening balance Invoice transactions then set up the AccountID for your Suspense account as the only entry in the list for the ApType of Invoice (using the Accounts Payable Setup task). This way that AccountID will be presented for you when entering these opening balance Invoices and you can just enter the Amount. After you’ve entered all the opening balances you could delete that Suspense AccountID from that list for the ApType of Invoice.

Currency Manager implications. These opening transactions may include foreign currency transactions that have already had their currency effects reflected in the General Ledger. As we will likely also convert that General Ledger data we do not want to generate additional currency adjustments in the Journal Entries that will subsequently be generated for these opening transactions. To ensure this does not occur, use the Currency maintenance and transactions task to specify the CurrencyRate as 1 for all applicable CurrencyIDs until after we have posted and/or imported all the opening Receivables and Payables transactions.