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Transaction IDs and Types |
  
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Transaction IDs and Types |
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ApTransID - identify transactions
AdaptAccounts applications involve processing and summarizing transactions. One of the first requirements in such a system is the need to uniquely identify transactions. Although many transactions may have some external information that can identify them, for reliability it's necessary to have the system ensure that these transactions are identified uniquely. In practice this means transactions must be serialized by the system.
Each Accounts Payable transaction is uniquely identified by a system generated number called its ApTransID.
For example, assume you have a Payables transaction whose ApTransID is 38761. It will be the only Payables transaction whose ApTransID is 38761. No other Payables transaction will have that same ApTransID.
ApType - transaction type
There are also different types of transactions in Accounts Payable and it’s convenient to define these types and ensure that each transaction has its type specified. This is the purpose of the transaction’s ApType field. There are several standard types set up when you first install Accounts Payable and additional types may be added if desired.
The ApType serves several purposes...
| • | it defines whether the Accounts Payable amount for a transaction of this type is a Debit or Credit to the General Ledger. This enables the system to determine whether an Accounts Payable amount of a transaction represents a Debit or Credit without the need for you to specify that. Note that this applies to the original entry or importing of a transaction. When you Reverse a transaction using the Payables transactions maintenance task the system generates a new transaction that reverses your original transaction and its General Ledger amounts will be the opposite of your original transaction. For example, although the Accounts Payable amount will be a Credit to the General Ledger for an Invoice you enter, if you subsequently Reverse it then the Accounts Payable amount of the Reversal transaction will be a Debit to the General Ledger. |
| • | it enables you to define a list of commonly used General Ledger Accounts for distributing transactions of this type. As you enter transactions, the system automatically provides all the Accounts that you have set up in the list for that transaction’s type so you can just fill in the amounts for those Accounts that are active in that transaction. |
| • | it determines the GlType for transactions of this type when generating Journal Entries to the General Ledger. The General Ledger also has its transaction types, called GlTypes. Applications such as Accounts Payable that generate journal entries to the General Ledger can have various GlTypes. Each GlType can summarize transactions for one or more ApTypes. You can add more GlTypes and ApTypes as you wish. |
Standard ApTypes
The table below lists the standard ApTypes set up for you when AdaptAccounts is first installed. You can add additional ApTypes as desired.
DrMemo
Use this ApType for any Payables Debit to a Supplier’s account that is not a Payment.
For example, suppose you received and posted an Invoice for $975.00. And suppose that you subsequently discovered that $125.00 of that Invoice was not satisfactory and that you would pay only $850.00 of that Invoice. It may be that you receive a "Sales Credit Note" from your Supplier for that $125.00 or it may be that you simply obtain agreement from your Supplier to deduct that $125.00. Either way, in a situation like this where you prefer to adjust the transaction originally entered, you need to post an additional transaction that can be used to offset $125.00 of that previously posted Invoice. In this case, choose DrMemo as the ApType for this transaction. It’s preferable to use the ApType of Payment only when a Bank Account is directly involved such as when there’s an actual cash disbursement in some form such as by check, money order, bank draft etc.
However, suppose a similar situation but instead of receiving a "Sales Credit Note" from your Supplier for $125.00 you receive a "Sales Credit Note" for the full amount of $975.00 as well as a new Invoice for $850.00. In this situation, you should Reverse the original Invoice of $975.00 and then enter the new Invoice of $850.00.
Invoice
Use this ApType for all Invoices and equivalents received from your Suppliers.
The most common Accounts Payable transactions are ordinary Invoices from Suppliers. There could be other charges such as interest charges that you might decide to accept and subsequently pay and although you could set up a separate ApType for those if you wished, the simplest approach is to just post them with an ApType of Invoice.
Payment
Use this ApType for all Checks and equivalents paid to Suppliers.
The most common Payment transactions are checks generated by the system but manually issued checks may also be posted. Any Payables Debit transaction to the Supplier’s account that involves a Bank account should use an ApType of Payment.
Other ApTypes
You can add additional ApTypes as desired.