Language:


HansaManuals Home   >> Standard Accounts   >> Settings  

Previous   Next               Entire Chapter in Printable Form               Search  

This text refers to program version 6.3  

Individual Settings - Account Usage P/L

The Account Usage P/L setting is included in the following Standard products:
  • Standard Accounts (Purchase Ledger module)
---

You should use the Account Usage P/L setting to choose the Accounts and VAT Codes that will be used as defaults in your Purchase Ledger transactions (i.e. Purchase Invoices and Payments). These defaults will be used in the absence of Accounts or VAT Codes being specified elsewhere (for example, in the Items or Suppliers used in the transactions). The Accounts that you use here must exist in the Account register, otherwise you will not be able to approve Purchase Invoices or Payments.

If you created your database using the 'Start with standard chart of accounts' option as described on the Starting any Standard product - New Installation page), you will find that most of the fields in the Account Usage P/L setting already contain suggested values. If you have modified this Chart of Accounts or have used your own, you must ensure that you replace these suggested values with the correct Accounts.

To open this setting, first ensure you are in the Purchase Ledger and then click the [Settings] button in the Master Control panel. Then double-click 'Account Usage P/L' in the 'Settings' list. Fill in the fields as described below. Then, to save changes and close the window, click the [Save] button. To close the window without saving changes, click the close box.

Creditors
Paste Special    Account register, Nominal Ledger
When you approve a Purchase Invoice (i.e. post it to the Nominal Ledger), its value including VAT will be credited to a Creditor Account. When you approve a Payment, its value will be debited to the same Account. This Account therefore shows how much your company owes at a particular time.

Specify here the Account that you wish to be used as your main default Creditor Account. This Account will be overridden if you have specified a separate Creditor Account for a Supplier or its Supplier Category.

Bank Fee
Paste Special    Account register, Nominal Ledger
Specify here the Account that you want to be debited by any bank changes you may incur when issuing Payments.

Cash
Paste Special    Account register, Nominal Ledger
The Account entered here will be credited instead of the Creditor Account whenever you approve a cash purchase (a "Cash Note"). Please refer to the description of the Payment Terms setting for details about Cash Notes.

This Cash Account will be overridden if you have specified a separate Cash Account for the Payment Term used in a Cash Note.

On Account A/C
Paste Special    Account register, Nominal Ledger
You can issue a Payment to a particular Supplier without reference to a specific Invoice (an "On Account" Payment). You may want to use a special Account for such Payments. Specify that Account here, and switch on the On Account check box on the 'Terms' card of the Contact record for the Supplier in question. When you enter and approve an On Account Payment, its value will be debited to this Account. Usually this Account should be one that acknowledges that issuing a deposit creates an asset. On Account Payments are described here.

VAT Code
Paste Special    VAT Codes setting, Nominal Ledger
The VAT Code will determine the Input VAT Account that will be debited when you post a Purchase Invoice to the Nominal Ledger and the rate at which VAT will be charged.

The default VAT Code offered in each Purchase Invoice row will be chosen as follows:
  1. The Purch. VAT Code for the Supplier will be used.

  2. It will be taken from the Account record.

  3. This VAT Code in the Account Usage P/L setting will be used.
You can change this default in a particular Purchase Invoice row if necessary.
---

In this chapter:

Go back to home pages for:

Previous   Next   Top            Entire Chapter in Printable Form