Accounting Finance:Manual Adjustments-Working with Manual Adjustments with Pre-defined Contra Accounts

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.

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