Entering Current and Historical Transactions

Accounts Payable can display statistical information for vendor accounts, and vendor groups for the current year and for all the previous years for which you retain the data. You add the historical information you need during setup. Accounts Payable then automatically updates the statistical information every time you post transactions.

Adding prior and current-year data

To set up your Accounts Payable system properly, you must follow these steps:

1. Enter and post the outstanding invoice balances in your vendor accounts at the beginning of the fiscal or calendar year — depending on your method for collecting vendor statistics.

   For example, if you have two partially paid invoices from vendor 1000, enter the unpaid portion of each invoice.

   The dates for these transactions should be the dates of the original invoices.

2. If you want to have prior-year statistics in the vendor records, edit the statistics after posting the opening invoice amounts.
3. Enter and post all invoices you received since the beginning of the year up to your last Accounts Payable posting to the General Ledger.
4. Enter and post all payments you made since the beginning of the year up to your last Accounts Payable posting to the General Ledger.
5. Delete all general ledger batches created from posting historical transactions. If you post these to your general ledger, you will be duplicating posted transactions.

Once you have completed these steps you can proceed to enter new invoice and payment transactions.

Entering current-year data

When you first set up your Accounts Payable system, you must establish the opening balances in your vendor accounts and enter any transactions that are outstanding at the time.

The information in this section outlines the steps you take to enter figures for the current year-to-date.

Entering outstanding invoice balances in vendor accounts

You create the opening balances in your vendor accounts by entering them as invoices using the Invoice Entry form, then posting them.

The opening balance invoice should use the first date of the current fiscal year as the transaction (document) date. You can also import the figures from a spreadsheet or other non-Sage 300 ERP program.

Entering current-year transactions

When you set up an Accounts Payable system part way through a fiscal year, you must enter the transaction data for the current year-to-date. To add the data, enter it directly into Accounts Payable batches, or import it, then post it using one of the following methods.

• Post all the current-year transactions, one at a time, period by period.

  This provides full detail for current-year transactions.

• Post all the transactions for the current period, and the net changes in each vendor's invoice and payment totals for each of the earlier periods in the current year.

  This provides full detail for current-period transactions, and creates accurate balances for previous periods in the current year.

• Post the net changes in each vendor's invoice and payment totals for each of the periods in the current year.

  This produces accurate balances for each account in each period of the current year, but does not provide transaction detail for the audit trail reports.

• Post the net change between the opening and current balances for each vendor account.

  This is the quickest method of entering the data, but it does not provide transaction detail for audit trail reports.

Previous-year statistics

If you need to add purchase history for previous years to a new Accounts Payable system, you can add it quickly, or import it, using the Vendors and Vendor Groups forms.

You enter statistics by the periods and years specified for the options to keep the data.

Entering vendor statistics for previous years

For each vendor and vendor group, you can enter the amount and number of invoices, payments, discounts taken, discounts lost, credit notes, debit notes, adjustments, and paid invoices.

You can also enter the:

• Amount and date of the high and low balance this year and last year, and the largest invoice for each year.
• Amount and date of the last invoice, payment, credit note, debit note, adjustment, and discount.
• Total invoice amount paid, number of checks, average payment, days to pay, and average days to pay.

You can review the figures in the Vendors and Vendor Groups forms, and you can print them using the Statistics option in the Setup reports for each type of data.

If you do not need historical data right away, you do not have to add it when you set up an Accounts Payable system. The application updates the figures automatically each time you post transactions.

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