Download Accounts Payable User Manual

4
File Maintenance
Enter the number of months you want to keep canceled checks. During close month processing, records older than the number of months specified in this field are deleted. Canceled
check records are aged from the check date, not the month in which they are canceled, to
determine if they should be deleted.
The ‘Paid Invoice by Check Number’ inquiry uses the Outstanding Checks file, which includes canceled check history, to supply the paid invoice information.
Months to Hold Processed Invoices
Enter a positive number with up to 3 digits
Designate the number of months to keep posted invoice numbers on file These invoice numbers are arranged by vendor, and are used by the system to warn of duplicate entries. The
names and addresses of miscellaneous vendor invoices are also deleted during Close Month
processing when processed invoices are deleted.
Months of Transaction History
Enter a positive number with up to 2 digits.
Supply the number of months of transaction history you wish to keep. Transactions older
than the number of months specified here are deleted during Close Month processing.
Hold Transactions?
Enter ‘Y’ (Yes) or ‘N’ (No). The initial default value is ‘N’. This field is required.
Indicate ‘y’ or ‘N’ to tell the system whether to hold zero-balance invoices beyond the current
calendar month rather than deleting them at month-end closing Since transactions may be
entered with a posting date for a future month, the system needs to know how long to keep
invoices with a balance of zero on file. Enter either:
Y: Hold zero-balance invoices until the Accounts Payable current month reaches the transaction month.
N: Delete zero-balance invoices during month-end closing, regardless of their transaction
dates.
Discount Method
The system displays an upper case alphanumeric field, 1 character in length. Valid entries are
E and L. The initial default value is ‘E’.
Indicate whether the liabilities are to be initially recorded at the full invoice amount (‘E’
earned method) or reduced by the allowable discount (‘L’ ost method). Enter either:
E: If the “earned” discount method is used, the liability account is credited at the invoice
amount. Discounts are credited only if the liability is paid within the discount period.
190
Accounts Payable User Manual