Tag: gl impact

PART 3.3 – Customer Transaction GL Impact

Customer payments are the amounts received from customers in exchange for goods or services sold. To record the payments received that are not yet deposited to the bank, GL impact will show an increase in undeposited funds and a decrease in assets (account receivable).  Here’s how to record payments that are deposited directly into the bank.… Continue reading PART 3.3 – Customer Transaction GL Impact

PART 3.1 – Common Sales Transaction GL Impact

Sales orders are non-posting transactions that record the items or services a business plans to sell to the customer.   Order fulfillment is the process of fulfilling the sales order of a customer. Example: To fulfill the order, the business will have to pull out some items from its inventory, which will result in a decrease in assets… Continue reading PART 3.1 – Common Sales Transaction GL Impact

PART 3.2 – Vendor/Purchase Transaction GL Impact

Purchase orders are non-posting transactions that are sent to a vendor to keep track of items that are expected to be delivered. They include the associated price and quantity.  2. Item receipts are used to match against an open purchase order when items have been received. The GL impact will show an increase in the asset account… Continue reading PART 3.2 – Vendor/Purchase Transaction GL Impact

PART 3 – General Ledger Impact and Transactions

This section will explain the fields displayed on the GL Impact page and the types of transactions that generate GL Impact. GL Impact Page Fields  Accounting Book: This field will show up only if the Multi-Book accounting feature is enabled and provides the ability to maintain multiple sets of accounting records. For example, a company that… Continue reading PART 3 – General Ledger Impact and Transactions

Item Fulfillment has No GL Impact

Scenario User noted some Item fulfillment that does not post any value in the GL impact. Solution Item Fulfillment may not post value in the GL impact due to the following reasons: 1. Item shipped is a Non-inventory Item 2. Item Fulfillment was created form a Dropshipment order 3. Inventory item was sold underwater or has a negative inventory at the time of fulfillment To determine if there are… Continue reading Item Fulfillment has No GL Impact