About Creating General Ledger Transactions

When you post invoice batches, Accounts Payable creates transactions for the inventory or expense accounts to which the invoices are distributed and creates balancing transactions for the general ledger payables control accounts.

If you want to automatically create general ledger transaction batches each time you post Accounts Payable transactions, select the option to Create G/L Transactions During Posting (on the A/P Options screen).

To create general ledger batches only when you want to, select Create G/L Transactions On Request Using Create G/L Batch Icon.

Note: If you use the Create G/L Batch screen, you must create the transactions before using the Year End screen to do year-end processing.

Reporting G/L Transactions

The G/L Transactions report and the summary at the end of each Accounts Payable posting journal lists the general ledger accounts that will be debited and credited with payables transactions when you post the batch of general ledger entries in General Ledger.

On the A/P Options screen, you choose the type of reference and description that is included with each General Ledger transaction.

Note: You must print the G/L Transactions report before clearing posting journals (using the A/P Clear History screen), as this option deletes data for the G/L Transactions report.

G/L Accounts

Accounts Payable uses the following general ledger accounts: Payables Control, Purchase Discounts, Prepayments, and the accounts you assign to distribution codes or enter with transactions.

If you use multicurrency accounting, Accounts Payable also uses General Ledger's unrealized and realized exchange gain and loss accounts.

If you do not use Sage 300 ERP General Ledger—or if your Sage 300 ERP General Ledger system is at another location—Accounts Payable creates its general ledger transactions in a file called APGLTRAN.CSV, which can be imported by a remote site Sage 300 ERP General Ledger, or transferred to another general ledger that you use. The file is in Comma Separated Values format, and is created in the same directory as your company database.

Note: All general ledger transactions are placed in the same CSV file, and each time Accounts Payable creates transactions, it appends them to the CSV file.

Multicurrency Ledgers

If you use multicurrency accounting, you use the Create G/L Batch screen to produce general ledger batches containing revaluation transactions that you created with the Revaluation screen.

Revaluation transactions revalue all outstanding multicurrency Accounts Payable documents at new exchange rates. Because revaluation transactions are for unrealized amounts, they are posted to the General Ledger system as reversing transactions, which means that General Ledger simultaneously posts reversing transactions to the first day of the next fiscal period.

Note: Revaluation transactions created by Accounts Payable are set as automatically reversing transactions. If they were posted to Sage 300 ERP General Ledger, they would be reversed at the beginning of the next fiscal period.

If you are posting them to a different general ledger, you must also reverse these transactions in the next fiscal period.

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