Expense Payables Overview
Expense payables are used to project future expenses to vendors, such as a telephone or utility company. Creating an expense payable for a vendor establishes a payable on your balance sheet and an expense on your income statement. They exist as general ledger entries in the Accrued Payables account (specified in the Accrued Payables field on the System tab of the System Control screen; usually 2120). To create an expense payable, see Adding Expense Payables. After creating an expense payable, you can use the Batch Checks, Batch ACHs, or Batch EFTs function to automatically create the check when the payable is due. For more information about creating checks, see Batch Checks, Batch ACHs, or Batch EFTs.
Notes:
- If you do not want to create an expense payable for a vendor, you can use the Write Individual Checks function to write a general ledger check. See Write Individual Checks.
- You can use the Standard GL Entries function to set up standard general ledger entries for expense payables that recur frequently (such as for telephone or rent). Use the vendor account ID as the entry name. This would be a more efficient way to handle recurring payables than using the Expense Payables function to enter them individually. For more information, see Standard GL Entries.
After establishing an expense payable, you can edit it. You can also clone it with new posting and accounts payable due dates, which can reduce time spent on data entry (for example, when entering all payables for a vendor for the year). For details, see Editing or Cloning Expense Payables. To remove expense payables, see Deleting Expense Payables.
Posting to General Ledger
GlobalWare creates general ledger entries based on expense payable entries on the Add Expense Payables screen. In the following table, "top" refers to fields in the top area of the Add Expense Payables screen and "grid" refers to fields in the Expense Entries grid on the screen.
| General Ledger Field | Expense Payable | Expense Payable Offsets |
|---|---|---|
|
Posting Date |
Entered Posting Date (top) |
Entered Posting Date (top) |
|
A/P Due Date |
Entered Due Date (top) |
|
|
Source |
J (journal entry) |
J |
|
Branch |
Entered Branch (top) |
Entered Br (grid) |
|
Account (chart) |
Accrued payables default chart (set on the System tab of the System Control screen) |
Entered Acct (grid) |
|
Reference 1 |
Posting date in 0yyyymmdd format |
Entered Ref 1 (grid) |
|
Reference 2 |
Entered Vendor ID (top) |
Entered Ref 2 (grid) |
|
Reference 3 |
Entered Reference 3 (top) |
Entered Ref 3 (grid) |
|
Group ID |
Entered Group ID |
Entered Group ID (grid) |
|
Comment |
Entered Comments (top) |
Entered Comment (grid) |
|
Amount |
Total of grid amounts (negative) |
Entered Amount (grid) |