PA: Create AP Invoices

Specifically, Create AP Invoices creates a batch and then invoices are created based on the percentages of ownership and the distribution amount entered on this page (see Fields List below).

So, then Accounts Payable invoices are created for the Vendor that is specified on the Investor using the Bank Book and the Expense Code defined in the Partnership Setup or in the Investor/Partnership Links if the Bank Book and/or Expense Code override was defined.

Refer to the Partnership Accounting Overview for more information, including information on calculations.

Partnership

Click the Lookup icon to display the Select Partnership pop-up and select the Partnership ID to create the invoices for. These codes are added to the system using the Setup Partnership grid.

From/Thru Date

Enter a date range for the distribution you are creating AP invoices for. These dates are used when calculating prorates and percentages.To enter the dates, use the Electronic Calendar

The transaction date cannot be greater than the From Date if the Use Simple Partnerships Setup Global Policies Tabs on the Partnership accounting tab is selected.

Distribution Amount

Enter the amount that is being distributed via the AP invoices.

Exp Code Override

When you select a Partnership to create the invoices for, the Expense Code is defaulted into the field based on the distribution expense account set up for the Partnership in Partnership Setup or the distribution expense code override set up for the Investor/Partnership Link.

The Exp Code Override field is hidden if the Allow distribution expense override Setup Global Policies Tabs on the Partnership Accounting tab is turned off.

To change the expense code, click the Lookup icon to display the Select Expense Code pop-up and select the distribution expense code.

NOTE that the expense code used cannot be set to Unit Tracking Overview.

Invoice Number

Enter the invoice number to use for the AP Invoices.

NOTE that the invoice number must not already exist for the Vendor tied to the Partnership when the Require unique invoice numbers to the same vendor Setup Global Policies Tabs is used .

Invoice Date

Enter the invoice date to use for the invoices, which defaults to the login date. To change the date, use the Electronic Calendarto select a date.

Accounting Date

Enter the accounting date to use for the invoices, which defaults to the login date. To change the date, use the Electronic Calendarto select a date.

Due Date

Enter the due date to use for the invoices, which defaults to the login date. To change the date, use the Electronic Calendarto select a date.