Reporting to the MAX including Point of Sale and Non-profit Versions Module:  GL - General Ledger

Question:

How to set up Accounts Payable for vendors I pay by Cash?

 

 

Possible Causes:
 

 

 

What's Probably Occurred:

 

 

What Needs to Happen:

Answer:
Go into Bank Reconciliation and set up a new bank account with the Account Type being cash. Every different cash will have its own account. (Visa1, Visa2, MC, AMEX, etc.) Put a liability account in the Bank cash account field. (first line) Save.

When paying the bill in “Pay Bills” or as an “Immediate Check” in “Enter Bills,” enter the cash bank account in the BR Bank Account Code Field. At posting, AP will be debited (expense if an Immediate Check) and the liability account set up in the cash bank account will be credited.

Note: The immediate check box is marked, but not the Print check. A check number must be entered. Again notice too, BR Bank Account is the cashs: (CC)

When running the Check make sure you don’t mark "Assign Check Number”

You can just hit “cancel” Tab if you want. The software will believe that you ran the checks and your number will remain the same. #1547 is ready, still to go. Your numbers will stay in tack.

Go to Bank Reconciliation, “Enter Activity,” Enter bank Activity, and choose the Regular Bank Account in the Bank Account Field. Choose check for Activity Type and fill in the rest of the fields. Enter some “Cash on Hand” in the Expense account field in the grid at the bottom section. You could have a separate account per cashs for reports if you want. This will debit the cash liability account (we made it in BR above) and Credit the Cash on Hand. Print the check out of BR and post!

 

 

Probable Solutions:

 

 

How to Avoid in the Future:

 

 

 

Suggestions to Cougar on improving the software: