Account Payable Setup Codes

Contents

Bank Names

Bank Cash Accounts

Summary Accounts

Summary Accounts | ADD | EDIT | DELETE | REPORT |

Summary Accounts establish the default offset accounts used throughout the WESPaC Financial system. Multiple accounts may be created for each summary account type. These accounts rarely change.

 

You may set up as many as 16 different types of summary accounts.

 

Accounts Payable Comp Tax and Accounts Receivable Sales Tax summary accounts are two types that may be especially useful for tracking taxes payable to the Department of Revenue. While some districts use the same liability account for comp tax as for invoices (GL601), these two types allow you to create separate accounts for comp tax and sales tax (that is, GL 609). Doing this allows identification of the specific amounts and types of taxes owed at any given time.

 

Summary Accounts are used when you update an operating statement account (revenue or expense), the system updates the associated equity summary account.

 

Adding a Summary Account

Menu Path: Financial Mngmnt / SEtup / COdes

  1. On the Codes screen, highlight Account Management on the left and then Summary Accounts on the right under Options.

  2. Click the Run button. The Summary Account List screen opens.

  3. Uncheck the Show All Summary Accounts check box.

  4. In the Summary Account Type Filter frame, check the summary account type you want to create.

  5. Click the Add button. The Account Code Entry Screen opens.

  6. Enter the Account Summary code (that is, A/PACC03).

  7. Enter the Description of the Summary Account (hat is, Accounts Payable comp tax).

  8. Click in the Account field. The Account number entry screen opens.

  9. Enter the account’s information (that is, Type, GL Account, and etc.) as necessary. The Fund field is pre-populated with "**" by the system. This represents that this is a summary account used by all funds.

  10. Click the OK button to return to the Account Code Entry Screen.

  11. Click the OK button.

The new account is added to the Summary Accounts list.

If there is more than one Summary Account for the Summary Account Type selected, you may set one of the summary accounts to be the default account for processing.

  1. From the Summary Accounts list, highlight the account you want to set as the default.

  2. Click the Default Account check box.

  3. The Change Summary Account Default screen opens indicating you are about to change the current default account and asking if you want to change it.

  4. Click OK if you do, or Cancel if you do not.

An * appears between the Code and Summary Description columns to denote that this account is the default.

  1. Click the Close button.

Editing Summary Accounts

It is rare that a summary account needs to be changed. It is more likely that the default needs to be changed.

Menu Path: Financial Mngmnt / SEtup / COdes

  1. On the Codes screen, highlight Account Management on the left and then Summary Accounts on the right under Options.

  2. Click the Run button. The Summary Account List screen opens.

  3. Uncheck Show All Summary Accounts.

In the Summary Account Type Filter frame, check the summary account type you want to change.

  1. From the Summary Accounts list, highlight the Summary Account code to change.

  2. Click the Edit button. The Account Code Entry Screen opens.

  3. Change the Description or Summary Account as needed. You cannot change the Account Summary code.

  4. Click the OK button.

Deleting Summary Accounts

!!  WARNING  !!: Summary Account codes may be deleted even if they are being used. This does not delete the account number from the Chart of Accounts.

Menu Path: Financial Mngmnt / SEtup / COdes

  1. On the Codes screen, highlight Account Management on the left and then Summary Accounts on the right under Options.

  2. Click the Run button. The Summary Account List screen opens.

  3. Uncheck Show All Summary Accounts.

  4. In Summary Account Type Filter frame, check the summary account type you are going delete.

  5. From the Summary Accounts list, highlight the Summary Account you want to delete.

  6. Click the Delete button.

  7. A Delete Confirmation screen opens asking if you want to delete the Summary Account.

  8. Click the Yes button.

  9. Click the Close button.

Summary Accounts Report

You can run a report of Summary Accounts. Information on the Summary Account Descriptions report includes the Summary Account code, Description and Account number associated with the code.

Menu Path: Financial Mngmnt / SEtup / COdes

  1. On the Codes screen, highlight Account Management on the left and then Summary Accounts on the right under Options.

  2. Click the Run button. The Summary Account List screen opens.

  3. To print all summary accounts, leave the Show All Summary Accounts checkbox checked.

  4. To print only a single Summary Account Type, uncheck the Show All Summary Accounts checkbox. From the Summary Account Type Filter frame, select the Summary Account Type on which you want to report.

  5. Click the Report button. The Range Screen opens.

  6. If needed, enter a low and high Summary Code range. Summary Codes within this range are included on the report .

  7. Click the Print button. The Output Destination screen opens.

The system prompts you to select a print option. You can choose to print the reports to screen, to a printer, or to save the report for later viewing.

  1. Click the OK button.

  2. Click the Close button to return to the Summary Account List screen.

  3. Click the Close button to exit the Summary Account List.

Version 01.04.07.0 – 010234 PL 060904

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