Issues
with Accounts Payable Modules
This document explains
why it is necessary to maintain separate Accounts Payable accounts for Business
Accounts
Payable and Property Management Accounts Payable.
There are two modules
in First Resort to handle Accounts Payable. C from the Main
Menu is called Business Accounts Payable, while E from
the Main Menu is called Property Management Accounts Payable.
It is important to maintain a separate GL account for each of these modules.
See procedures below to find where to set these accounts up. The Accounts
Payable Due report for each of these will tell you if you are in
or out of balance with the General Ledger detail. Keystrokes for these
reports are in procedures below. You will lose the ability to use these "self
balancing" liability reports if you use the same GL account for both
modules. The AP Due reports for both will be correct in their
detail; that is they will give accurate information about what is due
to whom and when for each of the two modules. That is not enough. Looking
at the bottom of these reports, after the report totals, you will see
either Ledger balances with detail, or Ledger is out of balance
with detail by followed by the out of balance amount. Since there
are two modules (E and C from Main Menu), there
are two different sets of detail to compare to the balance of
a single GL account. Without the use of these two balancing reports it
becomes harder, or even impossible to determine that cost codes used
are set up correctly, or that you are free of data corruption in either
or both of these modules. If you cannot be sure that the data in these
two modules is correct, then you also cannot be sure that the Balance
Sheet is correct.
Procedures:
- Set up the two GL
accounts for the two payables modules in Business Setup. Page 3 of
Business Setup (H-A) holds the General Ledger Liability account
number for Business AP (C from the Main Menu).
It is the 3rd field from the bottom on the left hand side. Page 6 of
Business Setup holds the General Ledger Liability account number
for Property Management AP (E from the Main Menu).
It is the 2nd line down from the top of page 6. This is actually the
fourth field on this page.
- To run the Accounts
Payable Due report for Business Accounts Payable (C from
the Main Menu), use the keystrokes C-R-D. To
run the Accounts Payable Due report for Property
Management Accounts Payable (E from the Main
Menu), use the keystrokes E-R-D.
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