Using Accounts Payable

Vouchers: Creating Vouchers for Specific CircumstancesGL Transactions for Recurring Voucher ScheduledPaymentsWhen you create and pay a voucher from a recurring voucher, the followingGL transactions take place:Recurring Voucher Schedule Setup: 3 monthly payments @$500 eachDEBITCREDITEncumbrance acct $1,500Creating the recurring voucher encumbers the funds for the entire paymentschedule.Use Recurring Voucher Post (RCVP) to create one voucherDEBITCREDITEncumbrance acct $500GL Expense acct $500AP control acct $500Posting the recurring voucher creates a regular voucher for every selectedscheduled payment. The regular voucher relieves the encumbrance for thescheduled amount, debits the expense account for the scheduled amount, andcredits the AP control account for the scheduled amount.170 Using Accounts Payable, June 19, 2009© 2009 Datatel, Inc.