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Using Deferral Code for Vendor Account Type in Purchase Journal

Posted on by 30

Hello all, 

Is it possible to use a Deferral Code in a purchase journal line when the account type is vendor? Currently, I am getting the error below:

Validation Results:

Account Type must be equal to 'G/L Account' in Gen. Journal Line: Journal Template Name=PURCHASES, Journal Batch Name=DEFAULT, Line No.=20000. Current value is 'Vendor'.

Thanks!

Chris

  • Suggested answer
    Gavin Profile Picture
    Gavin 2,339 on at
    RE: Using Deferral Code for Vendor Account Type in Purchase Journal

    Hi Chris,

    The reason for this is you wouldn't usually defer the amount posted to the accounts payable GL code, you usually defer the amount posted to the expense.

    Therefore if you are wanting to defer the amount to the expense you would post the journal like this:

    pastedimage1673424922611v1.png

    and get GL entries like this:

    pastedimage1673424966926v2.png

    Alternatively you could do this as a one line journal using the "Balancing Account". In this scenario you enter the GL code and deferral and balance to the Vendor:

    pastedimage1673425153152v3.png

    This would give the same GL entries as the previous example.

    Hope this helps.

    Thanks

    Gavin

  • Suggested answer
    YUN ZHU Profile Picture
    YUN ZHU 73,339 Super User 2024 Season 2 on at
    RE: Using Deferral Code for Vendor Account Type in Purchase Journal

    Hi, I checked the standard code and unfortunately the standard doesn't allow this.

    When "Deferral Code" is not empty, the system will verify whether "Account Type" is "G/L Account", if not, it will prompt the above error.

    pastedimage1673393054750v1.png

    Hope this helps.

    Thanks.

    ZHU

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