Accounting Finance:Manual Adjustments-Working with Manual Adjustments with Pre-defined Contra Accounts
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Overview
By the end of this course, you will be able to:
- Understand what contra accounting means
- Understand what pseudo account means
- Make adjustments into customer account
Contra Accounting and Pseudo Account
- The income part of contra accounting is controlled by the document type. If a document type has a pre-defined pseudo account, the system will automatically post the remaining invoice amount, after any tax postings, along with the control account posting. This way you never see which accounts the system uses, and you get no option to override the account.
- A pseudo account is used as a reference and connection to the actual account numbers.
Pre-defined Document Types
- HID (A/R hidden discount) 401000
- CLR (A/R-A/P Clearing) 210050
- CS (Car Stock) 210500
- GST (GST) 122500
- PST (PST) 210700
- PO (PO Adj) 210400
- VCR (Vendor Credit) 210050
Working with Manual Adjustments with Pre-defined Contra Accounts
- 1. Select ASW Fastpath
- 2. Select Cash management
- 3. Select A/R cash management tasks
- 4. Select A/R invoicing tasks
- 5. Select Enter financial transactions
- 6. Enter 10 into the Voucher type field
- 7. Press Enter
- 8. Enter Document type
- 9. Enter Document date
- 10. Enter Customer number
- 11. Enter Transaction amount
- 12. Enter Due date or Terms of payment (optional)
- 13. Enter Text
- 14. Press Enter twice
- 15. Enter invoice number into the Doc no field
- 16. Select transactions to settle adjustment OR
- 17. Select Maintain item settlement to enter a different amount than the transaction amount OR
- 18. Select Selection to enter document numbers OR
- 19. Select Settlement different to apply differences
- 20. Press Update OR
- 21. Select Cancel settlement and F11
- 22. Press F3
- 23. Press F3
- 24. Mark Close batch
- 25. Change Printer queue to LP05
- 26. Press Enter
- 27. Press Enter
