Enter a Voucher (i.e. Vendor Invoice)
When you receive an invoice from your Vendor, the A/P Voucher is the tool we use to record the payable and add it to the queue for payment. Vouchers are used to reconcile invoices from Purchase Order receipts as well as to record direct expenses.
1. Create a New Voucher.
Go to Accounts Payable ➤ Vouchers and click the + symbol to create a new Voucher.
2. Is the Voucher for Inventory or a non-Inventory expense?
There are times when you'll use both the PO Line Items and the GL tab on the same Voucher; that's perfectly OK!
- Vendor Name & Code: Enter either the Vendor Name or Vendor Code. The Address field will auto-populate.
- Vendor Inv. No. (required): Enter the Vendor's invoice number.
- Voucher Amount: Enter the amount you owe the Vendor.
- Voucher Date: Enter the Vendor's invoice date. This date will be used when calculating A/P Aging.
- Due Date: This date will be auto-calculated if you've entered payment terms on the Vendor record. If there are no payment terms on the Vendor record, then this date will equal the Voucher Date. You can override the due date if you need to.
- Post To Date: By default this date will be set to the same as the Voucher Date. The Post To Date is the date the Voucher will hit the General Ledger. This is useful when you want to age a payable by a different date than when it hits the books.
- Discount Date: Similar to the Due Date, the Discount Date will be auto-calculated if you've entered payment terms on the Vendor record.
- Discount Available: This is the discount amount which is calculated based on the payment terms entered on the Vendor record.
- Payment Type: This allows you to indicate if the voucher will be paid on terms (e.g. AP, Open or AP, Mark to Pay) or will be settled immediately via an alternate payment method such a company credit card, wire transfer, etc. The G/L account associated with the Payment Type will be CREDITED when the Voucher is posted.
- Ready to Post: This indicates the Voucher is in-balance and can be posted.
- 1099: Check this box to help you filter for 1099 Vouchers. Used for reporting only.
- Our PO #: Enter your PO Number in this field to filter the list of PO Line Items. This is not required but can be helpful if you have many PO Line Items and want to quickly narrow the list.
- Foreign Currency: If you've enabled the foreign currency feature, select the currency you're paying the voucher with and it the system will translate the dollar value into the foreign currency.
The entire amount of the Vendor invoice should be entered and applied even if you do not intend on paying it in full immediately. You will have an option to make either a full or partial payment at a later step in the A/P process. You will also be able to choose whether or not to take A/P Discounts when processing A/P Disbursements.
2.1. Enter a Vendor Invoice for Inventory items (e.g. items received via PO)
PO Line Items (tab): In this section, you can select which PO Line Items to Voucher for payment. This list represents two types of items that have been previously received on a PO but have not yet been vouchered:
- Inventory items received on a PO and charged to Accrued Inventory Payable (i.e. Inventory Holding)
- Non-inventory items received on a PO (which will be charged to CoGS when payed via Voucher.)
- Pay: Either click Pay Mark or enter the Adj Cost amount to mark a line item to be paid.
- PO #: The number of the PO that was received.
- Part No: The part number that was received.
- Qty Rec / Base UM: The quantity of inventory that was received, calculated using the base unit of measure.
- Qty Rec / Order UM: The quantity of inventory that was received, as entered on the PO (this could be an alternate unit of measure).
- Lot No: The Lot Number where the received inventory was added.
- PO Cost: The cost that the PO was issued for.
- AIP Value: The current Accrued Inventory Payable value. This will equal the PO cost unless any adjustments have already been made to the AIP value.
- Adj Cost: Enter the value of the inventory here. If the Vendor issues the invoice for a value different from what was received, the inventory will be revalued.
Freight: Enter the value of the Freight allocated to each line item. This will be added to the value of the inventory.
- If you enter the total freight amount in the Freight field (in the header) and click Distribute the system will allocate the freight ratably to each line (by weight, then by quantity).
Other: This is used for other miscellaneous charges that you want to add to the value of the inventory.
- If you enter the total other charges amount in the Other field (in the header) and click Distribute the system will allocate the charges ratably to each line (by weight, then by quantity).
See these articles for info on how to account for landed costs for inventory purchases:
See here for info on other scenarios related to non-inventory or supply items:
2.2. Enter a Vendor Invoice for supply/expense type items
General Ledger (tab): In this section, you can enter expenses directly to a G/L account. Click the + symbol to add a new line item. Enter either the GL Account Name or GL Account Code; the one that you don't enter will auto-populate. You can enter as many expense accounts as you need.
- GL Account Name: The name of the GL account as listed in the Chart of Accounts.
- GL Account Code: The code of the GL account as listed in the Chart of Accounts.
- Amount: Enter the amount of the expense.
- Memo (line item) : Optionally enter a memo pertaining to the line item.
- Memo (header) : Optionally enter a memo pertaining to the overall Voucher.
For some Vendors, you might be using the same GL Accounts every time, or at least some of the time. You can set up defaults for each Vendor by going to the Account Information page of the Vendor's record.
2.3. Enter a voucher for both inventory and non-inventory expenses
If you need to enter a Voucher for both inventory and non-inventory expenses, you can do that by following both of the sections above. In the footer section, you can see the total for each type of entry and you can see how this ties to the total Voucher Amount.
- Total Amount Distributed: This is the total of the amounts entered on the PO Line Items tab and the General Ledger tab. This amount should tie out to the Voucher Amount.
- Amount Remaining to Distribute: If the total Voucher Amount has not been applied, then you'll see a balance in this field. The Voucher will not post until this amount is $0.00.
- GL Subtotal: The total amount that has been applied on the General Ledger tab.
- Inventory Subtotal: The total amount that has been applied on the PO Line Items tab (total of the Adj Cost, Freight and Other columns).
Payment Type options
The Payment Type is the method the Voucher uses to record the CREDIT side of the transaction. Usually this would be a liability account (e.g. Accounts Payable) but the system allows you to code the credit side of the entry wherever you want. Here are some examples of Payment Types. The first two are the default selections that AV has preloaded:
- AP, Open: An Open A/P item will be created for future disbursement and payment. It will not be marked to pay until you mark it via the Disbursement screen. This is the default behavior.
- AP, Marked to Pay: An A/P item will be created and marked for payment. This selection bypasses the A/P Aging and Disbursement selection steps of the A/P process. This means that it will be loaded immediately into the check printing queue.
Other Payment Types: Any Alternate Payment Type that you've created (company credit card, wire transfer, etc.) can be selected.
- When an alternate Payment Type is used, instead of an Open A/P item being created (i.e. a CREDIT to Accounts Payable), AcctVantage will CREDIT the GL Account associated with the selected Payment Type.
Each Vendor may have a default payment type assigned. This can be a handy tool to simplify data entry. For example, you may have a Vendor who always requires payment via Wire Transfer. Assign the "Wire Transfer" Payment Type on the Vendor record. When you create a Voucher for that Vendor, the "Wire Transfer" Payment Type will be auto-selected.
System Configuration options
There are a couple of options in System Configuration related to how the Voucher window works for you:
- Default Detail Tab: Use this setting to determine which tab is the default when you open a new Voucher. The options are either PO Line Items or General Ledger. You can still enter data on either tab, regardless of which one is the default.
PO Lines on Voucher: If you have this set to True, non-inventory line items received on a PO will show up along with the inventory items on the PO Line Items tab.
- Note: this is not quite the same as using the General Ledger tab to record non-inventory expenses