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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:
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
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:
and get GL entries like this:
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:
This would give the same GL entries as the previous example.
Hope this helps.
Thanks
Gavin
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.
Hope this helps.
Thanks.
ZHU
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