Accounting Finance:Expense Invoices-Entering Freight Expense Invoices

Overview

By the end of this course, you will be able to:

• Understand how to enter freight expense invoices
• Understand what is a pseudo account
• Understand how to enter a project code

Pseudo Accounts and Terms of Payment

• A pseudo account is used as a reference and connection to the actual account numbers
• All freight carrier accounts have pseudo accounts connected to their names account (if there is no pseudo account, please connect pseudo account in Names file or contact Manager of Accounting to create link)
• The system will automatically list the pseudo accounts connected to each freight carrier.
• If the freight charge is for an applicable promo or program, you must enter the project code in the G/L posting table.
• All freight invoices are net 30 days (due date is either the 15th or last day of the following month).

Approval must be received from Manager, Finance for any deviation from Net 30 terms.

Freight Approval

• See Processing Expenses Checklist for specific step by step instructions (accounting superserver/common/ap/templates/checklists)
• Forward freight invoices to Distribution Manager for approval
• Upon receipt, forward freight invoices with batch approval slip to CFO for approval
• At month-end, provide Manager, Finance with accrual of invoices not entered into previous period

Entering the Freight Expense Invoice

1. Select ASW Fastpath
2. Select Cash Management
3. Select A/P Cash Management Tasks
4. Select A/P Invoicing Tasks
5. Select Enter Financial Transactions
6. Enter Voucher type 30
7. Enter Batch amount
8. Press Enter

1. Enter Document type INE for invoice
2. Enter Document number (same as supplier invoice #)
3. Enter Supplier number
4. Enter Supplier invoice no
5. Enter Supplier invoice dte
6. Enter Transaction amount
7. Enter Due date or Terms of payment (all freight carriers are Net 30 – enter either 15th (4-17) or 30th (18-3) of the following month)
8. Press Enter twice

1. Enter amount to applicable pseudo account (if freight is for a return, post to applicable returns pseudo account) (watch DHL – you might have to split the entry between Richmond (1120), Calgary (1125) or returns)
2. Enter GST base amount
3. Press Enter to confirm

1. Click on Freight general ledger (if you need to enter a project code)
2. Press Enter
3. Enter Project code (if applicable)
4. Press Enter twice

1. Enter next invoice OR
2. Press F12 to re-display the entry panel

1. Press F3 when completed

1. Press F3

1. Select Close batch
2. Change Printer queue to LP05
3. Press Enter

1. Press Enter