Default Accounts

Use these fields in the Accounts Payable Control File (ACON) window to customize how expenses and liabilities are posted.

Accounts Payable - If you use multiple Accounts Payable account numbers, enter the liability account number that will be used most often. If you do not use multiple Accounts Payable account numbers, enter the liability account number that you will always use.

Discount Account - The discounts account number (revenue taken) from the Chart of Accounts (GCMU) window. If you enter asterisks in the sub-account section (for example, 3000-***), you can pass off discounts to specific store/department accounts based on the sub-account.

Misc Charges - If you always want the system to distribute miscellaneous expenses to one account number, enter the expense account number. If you do not want the system to distribute miscellaneous expenses to one account number, leave this field blank. If you enter an account number, you will not be able to distribute miscellaneous charges to job numbers.

Sales Tax - If you always want the system to distribute sales tax to one account number, enter the expense account number. If you do not want the system to distribute sales tax to one account number, leave this field blank. If you enter an account number, you will not be able to distribute sales tax to job numbers.

Freight Charges - If you always want the system to distribute freight charges to one account number, enter the expense account number. If you do not want the system to distribute freight charges to one account number, leave this field blank. If you enter an account number, you will not be able to distribute freight charges to job numbers.

Accrued A/P - Enter the accounts payable account to which you want accrued accounts payable amounts distributed. If you run Automatic Passoff To General Ledger (GLP) after you post the vouchers, the system creates general ledger entries. It debits the Default Accrued Purchases Account and credits the Default Accrued A/P Account. This allows you to print accurate financial statements before you reconcile your purchases to the invoice.

Accrued Purchases - Enter the purchases account to which you want accrued purchase amounts distributed. You can use the same account number for the Default Accrued Purch Account and the Default Purchases Account. However, the A/P Open Item report (RAOI) will not balance with the A/P account balance in general ledger until you:

Purchases - Enter the purchases account to which you want the final purchase amounts distributed. If you enter asterisks in the sub-account section (the three digits AFTER the main account number, such as 4000-***), the system distributes the purchases to your departments based on the sub-accounts you enter in Modify Department File (MDE). Click here for more information.

If no department is available (for example, if an item isn’t in your Inventory file) or if the department doesn’t have a sub-account number, the system debits the Default Purchases Account with a sub-account of 000 (for example, 4000-000). If you set up your Accounts Payable system to automatically distribute purchases to other accounts (for example, you distribute a certain percentage of purchases to each department), the system debits the purchases distribution accounts you set up in (Vendor Auto Distribution Maintenance (AADM). It ignores what you enter in the Default Purchases Account field. If you do not automatically distribute purchases to other accounts, the system debits the Default Purchases Account.