Misc. Entries in A/P Invoices 5633

Misc. Entries in A/P Invoices

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My biggest discovery in posting A/P invoices was the Miscellaneous Entries option under the GL Distribution tab. My predecessor never used this and I discovered that it is a great way to make adjusting entries to a vendor's account, using Papersave to record backup documentation. At my company, we have many subsidiaries whose invoices are paid from the parent bank account. This causes the frequent use of Interfund accounts. Using the Misc. Entries option allows me to post the offsetting interfund entry that is tied to the invoice in FE7 and has Papersave documentation. Previously to using this process, someone had to keep track of all the interfund posts and do GL journal entries for the offsetting interfund which was much more time consuming than the way we are doing this now. Hopefully, this ability will be added to FE NXT as I do not think this works yet.
News Tips, Tricks, and Timesavers! 04/30/2019 3:06pm EDT

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