Accounts Payable

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Accounts Payable

Postby pessner » Wed Dec 09, 2015 6:58 pm

I appreciate help given to me on this forum. I have another question.

If I put the credit account number on the vendor's record so I run it thru the payables prior to payment, when I generate payment, will it post as a credit to cash and debit to payables?

Example: November expense received in December. Use due date of 11/30/2015, don't pay at the time it is entered. Generate check(s) sometime in December: Will the initial invoice ledger account #s post as the November date, and will accounts payable debit and cash account credit as of the date of the check?

Pat Essner
517-743-1504
Kilpatrick UB Church
Woodland MI
pessner
 
Posts: 18
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Re: Accounts Payable

Postby NeilZ » Wed Dec 09, 2015 8:14 pm

pessner wrote:I appreciate help given to me on this forum. I have another question.

If I put the credit account number on the vendor's record so I run it thru the payables prior to payment, when I generate payment, will it post as a credit to cash and debit to payables?

Example: November expense received in December. Use due date of 11/30/2015, don't pay at the time it is entered. Generate check(s) sometime in December: Will the initial invoice ledger account #s post as the November date, and will accounts payable debit and cash account credit as of the date of the check?

Pat Essner
517-743-1504
Kilpatrick UB Church
Woodland MI


You set up the proper accounts on the vendor. This fills in the accounts so you don't have to worry about searching for the proper accounts when you're paying bills.

NOTHING will post until you post to Funds Accounting, it will use the date of the check when posting.

Neil Zampella

Using PC+ since 1999.
NeilZ
 
Posts: 8904
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Location: Connellsville, PA