Standard G/L Postings

The account that is...

credited during A/P Entry and that is debited during cash disbursements. Manual adjustments cannot post to this account.

debited when a sales order is processed and that is credited during cash receipts.

Manual adjustments cannot post to this account.

posted to for incoming freight charges when you want them included as part of the Cost of Goods Sold on a sales order.

posted to for incoming handling charges when you want them included as part of the Cost of Goods Sold on a sales order.

posted to for outgoing freight charges when you want them included as part of the Cost of Goods Sold on a sales order.

posted to for outgoing handling charges when you want them included as part of the Cost of Goods Sold on a sales order.

added into your true Costs of Goods Sold for a value of cost of goods sold for the business summary. (Inquiry only.)

Note: COGS - Extra can be left blank. It is used to add additional G/L accounts to flow to the Business Summary under COGS

a valid bank account. This is an account that you want to be able to debit during cash receipts and credit during cash disbursements.

debited when receiving a cash, check, credit card payment, or deposit in Sales Order Entry.

credited when there is a posting made for a sales order and the difference between the commission cost and the COGS is not  zero.

credited when you receive a product for the consignment from a vendor on a purchase order to offset the debit to purchases.

credited during receiving of direct purchase order material to offset to the debit to direct purchases.

Important: Dependent on both Direct Inventory and ~* DefaultDirect Purchases G/L postings being completed with an associated G/L account.

credited to offset Freight In if capitalizing freight from Purchase Order Entry.

credited during receiving of products to offset the debit to purchases.

credited during receiving of retired rental items to offset the rental cost.

Note: This auto posting only needs to be set if you have purchased the Rental companion product.

credited during receiving of transfers to offset the debit to transfer purchases.

Note: This auto-posting assumes that the site is not making a profit on Transfers. If they are, then each auto-posting needs to go to its own account.

credited when you receive a product for a work order step to offset the debit to purchases.

either debited or credited as a function of moving inventory in and out of consignment from a vendor, or transferring consigned inventory between branches.

used to record actual gains or losses due to fluctuating exchange rates. Includes differences between payables and actual payments.

Note: The system avoids posting differences to inactive accounts.

used to separate direct sales order postings from standard Inventory G/L Account postings.

Direct Inventory is notpart of the standard Inventory G/L account balance displayed on the Business Summary.

Important: Dependent on both Clear Direct Purchases to Direct Inventory and ~* DefaultDirect Purchases G/L postings being completed with an associated G/L account.

used to separate direct purchase order postings from standard Purchases G/L Account postings.

This is optional. If you do not use Direct Purchases for your direct orders, the system applies the postings to the standard inventory account. When enabled, newly created G/L accounts must be added to all appropriate, existing G/L templates and reports.

used to separate customer-owned inventory (Direct Through Stock) postings. Every time a G/L posting takes place for a product with type “K” (for Direct Through Stock), it posts to the Inventory-DTS account.

If left unassigned, the system uses the standard Inventory posting.

credited when giving a cash discount as a function of cash receipts.

debited when taking a cash discount as a function of cash disbursements.

one of four potential accounts to post the differences between what was billed and what was received. Do not post this account against an invoice that you intend to pay.

credited with any duty charges from Purchase Order Entry.

used to post discount percentages for customers who send orders using EDI. Create a G/L account called EDI Discounts, or something similar, to which to post the amounts.

Note: This auto posting only needs to be set if you have purchased the EDI companion product.

the "inter-branch" exchange account. It is posted to whenever a transaction would have left a branch out of balance.

This account should not be used with any other autoposting account.

debited and credited when you collect and pay Federal Excise Taxes (FET).

debited when you receive product that has freight on the Totalstab in Purchase Order Entry or debited as a function of A/P Entry.

posted in Sales Order Entry when an amount is put in the Expense column on the Freight In line of the Freight OE Distribution screen. This offsets the COGS Incoming Freight autoposting.

If this autoposting is left blank, then the system posts the expensed freight to the Freight In autoposting.

Note: Instead, you can set this auto-posting to post to separate accounts for Freight In Expensed and Freight Out Expensed. You could also use Handling In Expensed or Handling Out Expensed, if clients want the expensed freight and handling broken out.

credited when a sales order that has freight in the Totalstab of Sales Order Entry is processed.

posted in Sales Order Entry when an amount is put in the Expense column on the Freight Out line of the Freight OE Distribution screen. This offsets the COGS Outgoing Freight autoposting.

If this autoposting is left blank, then the system posts the expensed freight to the Freight Out autoposting.

Note: Instead, you can set this auto-posting to post to separate accounts for Freight In Expensed and Freight Out Expensed. You could also use Handling In Expensed or Handling Out Expensed, if clients want the expensed freight and handling broken out.

debited when you receive product that has handling in the Totals window of Purchase Order Entry.

credited when a sales order that has handling in the Totals window of Sales Order Entry is processed.

either debited or credited as a function of moving inventory through any of the following:

• Sales Order Entry

• Purchase Order Entry

• Transfer Order Entry

• Inventory adjustments

used to offset credit/debit amounts to the inventory account during inventory adjustments.

Used with the percentage set in the Duty Harmonizing code to credit the amount when duty is used in Purchase Order Entry.

one of four potential accounts to post the differences between what was billed and what was received. This account is an expense account, and should therefore be the choice to post against for an invoice that you intend to pay.

used the same as the Over/Short Accounts Payable posting, but targeted specifically for rebate purchase orders created through the Book Letter of Credit process. If this account is left blank, the system uses the Over/Short Accounts Payable posting.

used the same as the Over/Short Accounts Payable posting, but targeted specifically for cash receipts management.

used to post manual accounts payable adjustments.

Note: We recommend leaving this blank.

used to post manual accounts receivable adjustments.

Note: We recommend leaving this blank.

used to post manual unbilled accounts payable adjustments.

Note: We recommend leaving this blank.

debited when you receive product that has freight in the Totals tab of Purchase Order Entry.

Note: This auto-posting is usually left blank so the default Freight In/Out accounts are used. It is only populated if clients want to break out the freight in/out into more detail based on SOE, POE, TOE, etc.

debited when you receive product that has freight in the Totals tab of Purchase Order Entry or debited as a function of A/P Entry.

Note: This auto-posting is usually left blank so the default Freight In/Out accounts are used. It is only populated if clients want to break out the freight in/out into more detail based on SOE, POE, TOE, etc.

credited when a sales inventory item is converted to a rental item. The Inventory account is debited with the COGS, and this account is credited.

Note: This auto posting only needs to be set if you have purchased the Rentals companion product.

credited when a rental inventory item is retired from the rental inventory. The Rental - Product Inventory account is debited and this account is credited.

Note: This auto posting only needs to be set if you have purchased the Rentals companion product.

credited when a rental inventory item has been received back into inventory.

Note: This auto posting only needs to be set if you have purchased the Rentals companion product.

on your balance sheet and where the bottom line of your P&L statement rolls into. The system calculates this amount.

added into your true sales accounts for a value of sales revenues for the business summary.

Note: Sales - Extra can be left blank. It is used to add additional G/L accounts to flow to the Business Summary under Sales.

debited when you receive product that has freight in the Totals tab of Sales Order Entry or debited as a function of A/P Entry.

Note: This auto-posting is usually left blank so the default Freight In/Out accounts are used. It is only populated if clients want to break out the freight in/out into more detail based on SOE, POE, TOE, etc.

posted in Sales Order Entry when an amount is put in the Expense column on the Freight In line of the Freight OE Distribution screen. This offsets the COGS Incoming Freight autoposting.

Note: This auto-posting is usually left blank so the default Freight In/Out accounts are used. It is only populated if clients want to break out the freight in/out into more detail based on SOE, POE, TOE, etc.

credited when a sales order that has freight in the Totals tab of Sales Order Entry is processed.

Note: This auto-posting is usually left blank so the default Freight In/Out accounts are used. It is only populated if clients want to break out the freight in/out into more detail based on SOE, POE, TOE, etc.

credited when you ship product that has freight in the Totals tab of Sales Order Entry.

Note: This auto-posting is usually left blank so the default Freight In/Out accounts are used. It is only populated if clients want to break out the freight in/out into more detail based on SOE, POE, TOE, etc.

debited when you receive product that has handling in the Totalstab of Sales Order Entry.

Note: This auto-posting is usually left blank so the default Freight In/Out accounts are used. It is only populated if clients want to break out the freight in/out into more detail based on SOE, POE, TOE, etc.

posted to in Sales Order Entry when an amount is put in the Expense column on the Handling In line of the Freight OE Distribution screen. This offsets the COGS Incoming Handling autoposting.

Note: This auto-posting is usually left blank so the default Freight In/Out accounts are used. It is only populated if clients want to break out the freight in/out into more detail based on SOE, POE, TOE, etc.

posted to in Sales Order Entry when an amount is put in the Expense column on the Handling Out line of the Freight OE Distribution screen. This offsets the COGS Outgoing Handling autoposting.

Note: This auto-posting is usually left blank so the default Freight In/Out accounts are used. It is only populated if clients want to break out the freight in/out into more detail based on SOE, POE, TOE, etc.

credited when you ship product that has freight in the Totals tab of Sales Order Entry.

Note: This auto-posting is usually left blank so the default Freight In/Out accounts are used. It is only populated if clients want to break out the freight in/out into more detail based on SOE, POE, TOE, etc.

used by the National Sales Tax Database companion product and is debited and credited when you collect and pay taxes.

Note: This auto posting only needs to be set if you have purchased the National Sales Tax companion product.

debits the receiving branch when product is received that has freight in the Totals tab of a transfer order.

Note: This auto-posting is usually left blank so the default Freight In/Out accounts are used. It is only populated if clients want to break out the freight in/out into more detail based on SOE, POE, TOE, etc.

credits the originating branch when product is received that has freight in the Totalstab of a transfer order.

Note: This auto-posting is usually left blank so the default Freight In/Out accounts are used. It is only populated if clients want to break out the freight in/out into more detail based on SOE, POE, TOE, etc.

debits the receiving branch when product is received that has handling in the Totalstab of a transfer order.

Note: This auto-posting is usually left blank so the default Freight In/Out accounts are used. It is only populated if clients want to break out the freight in/out into more detail based on SOE, POE, TOE, etc.

credits the originating branch when product is received that has freight in the Totalstab of a transfer order.

Note: This auto-posting is usually left blank so the default Freight In/Out accounts are used. It is only populated if clients want to break out the freight in/out into more detail based on SOE, POE, TOE, etc.

debited when you break out sales tax on a vendor's invoice or in the Totals window of a purchase order.

credited when you receive a transfer.

Note: This auto-posting assumes that the site is not making a profit on Transfers. If they are, then each auto-posting needs to go to its own account.

debited when you ship a transfer.

Note: This auto-posting assumes that the site is not making a profit on Transfers. If they are, then each auto-posting needs to go to its own account.

one of four potential accounts to post the differences between what was billed and what was received. Do post this account against an invoice that you intend to pay.

credited when you receive a purchase order or completed step of a work order. It is debited as a function of A/P Entry.

You cannot post manual adjustments to this account.

credited when you receive a purchase order for consignment. It is debited as a function of A/P Entry. The system also posts to this account when transferring consigned inventory between branches.

credited when you use single invoicing. It allows you to process a sales order and bill the customer for all the material on the sales order, even though some of the material has been backordered. It is usually a balance sheet account that either sits below the A/R account or with the accrual accounts in liabilities.

used to record the unrealized gains or, if you use historical exchange rate accounting, to record losses due to fluctuating exchange rates between the purchase order and the payable amount.

one of four potential accounts to post the differences between what was billed and what was received. Do not post this account against an invoice that you intend to pay.

credited when giving a cash discount as a function of placing an order through the Internet.

debits the receiving branch when product is received that has freight in the Totals tab of a work order.

Note: This auto-posting is usually left blank so the default Freight In/Out accounts are used. It is only populated if clients want to break out the freight in/out into more detail based on SOE, POE, TOE, etc.

debits the receiving branch when product is received that has handling in the Totals tab of a work order.

Note: This auto-posting is usually left blank so the default Freight In/Out accounts are used. It is only populated if clients want to break out the freight in/out into more detail based on SOE, POE, TOE, etc.

for holding the dollar amount of a work order step while it is in process. When completed, the amount is posted to Unbilled Accounts Payable.

credited with the cost of a work order step when the step is completed.

debited when a sales order for an unidentified product type is processed. It offsets the credit to inventory.

debited when there is a posting made for a sales order and the difference between the commission cost and the COGs is not zero.

debited when you receive a purchase order for consignment for an unidentified product type. It is offset by clear purchases to inventory and should have no net effect on your bottom line.

debited when you receive a direct purchase order for an unidentified product type. It is offset by clear direct purchases to direct inventory and should have no net effect on your bottom line.

Important: Dependent on both Clear Direct Purchases to Direct Inventory and Direct Inventory G/L postings being completed with an associated G/L account.

debited when you receive a purchase order for an unidentified product type. It is offset by clear purchases to inventory and should have no net effect on your bottom line.

credited when a sales order is processed for an unidentified product type.

credited with the cost of a work order step for an unidentified product type when the step is completed.

debited when a transfer order for an unidentified product type is shipped. It offsets the credit to inventory.

Note: This auto-posting assumes that the site is not making a profit on Transfers. If they are, then each auto-posting needs to go to its own account.

debited when you receive a transfer for an unidentified product type. It is offset by clear transfers to inventory and should have no net effect on your bottom line.

Note: This auto-posting assumes that the site is not making a profit on Transfers. If they are, then each auto-posting needs to go to its own account.

credited when a  transfer order is shipped for an unidentified product type.

Note: This auto-posting assumes that the site is not making a profit on Transfers. If they are, then each auto-posting needs to go to its own account.