Using Accounts Payable

Vouchers: Creating Vouchers for Specific CircumstancesPrint a check for the prepaymentDEBITCREDITAP control acct $250Cash acct $250The point of creating a prepayment voucher is to pay this amount before thepurchase order items are received/accepted. Pay the prepayment voucher first,then create a separate voucher for the purchase order items once they arereceived/accepted.If you do not pay the prepayment voucher before the purchase order items areaccepted, then the accepted items are automatically added to the prepaymentvoucher.Create a voucher to pay for the accepted PO itemsDEBITCREDITEncumbrance acct $1,000GL Expense acct $1,000Prepaid acct $250AP control acct $250Creating a voucher for the entire purchase order amount clears theencumbrance for the PO and also clears the balance from the prepaid account.178 Using Accounts Payable, June 19, 2009© 2009 Datatel, Inc.