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- Vendor/Customer: This field updates to display the correct entity type depending on the Settle To method selected. If the Settle To method is set to ‘AR Credit Memo’, this field will display Customer. If the Settle To method is set to ‘AP Invoice – All Orders’ or ‘AP Invoice – Paid In Full Orders’, this field will display Vendor. This field will display a lookup of all Customers for the user to select the Customer to which the AR Credit Memo will be created for settling the brokerage is created or this field will display a lookup of all Vendors for the user to select the Vendor to which the AP Invoice will be created for settling the brokerage.
- Accounting Rules: This field defaults to ‘Use Item Accounts’. However, this field also includes the options ‘Use Item Debit Accounts’, ‘Use Item Credit Accounts’, and ‘Specify Both Accounts’ for the user to choose from. This field is required.is automatically updated based on the Debit/Expense Account and Credit/Accrual Account values selected. The field is never editable and displays one of the following values:
- Use Item Accounts: Will use the Brokerage Expense and Brokerage Accrual accounts of each individual item in the assigned Item Set(s) to account for the Brokerage via the journal entry created from the brokerage when the transaction is posted. Use Item Debit AccountsThis value is displayed when both Debit/Expense Account and Credit/Accrual Account are set to (From Item).
- Use Item Debit Accounts: Will use the Brokerage Expense account of each individual item in the assigned Item Set(s) to account for the Brokerage’s expense and will use the selected account for the Credit/Accrual value to account for the Brokerage’s accrual.This value is displayed when the Credit/Accrual Account is set to other than (From Item).
- Use Item Credit Accounts: Will use the Brokerage Accrual account of each individual item in the assigned Item Set(s) to account for the Brokerage’s accrual and will use the selected account for the Debit/Expense value to account for the Brokerage’s expense. This value is displayed when the Debit/Expense account is set to other than (From Item).
- Specify Both Accounts: Will use the selected account for the Debit/Expense value to account for the Brokerage’s expense for all items and will use the selected account for the Credit/Accrual value to account for the Brokerage’s accrual for all items.
- This value is displayed when both Debit/Expense
- Account and Credit/Accrual Account are set to other than (From Item).
- Debit/Expense Account: This field will default defaults to ‘[(From Item]’ and will not be editable if the Accounting Rules selection is set to ‘Use Item Accounts’ or ‘Use Item Debit Accounts’. When the Accounting Rules selection is set to ‘Use Item Credit Accounts’ or ‘Specify Both Accounts’, this field is editable. When this field is editable it will display a lookup of all active GL accounts for the user to select the expense account to use for the Brokerage. If this field is editable, it is required and will apply to all items within the assigned item set(s).Credit/Accrual Value: This field will default to ‘[From Item]’ and will not be editable if the Accounting Rules selection is set to ‘Use Item Accounts’ or ‘Use Item Credit Accounts’. When the Accounting Rules selection is set to ‘Use Item Debit Accounts’ or ‘Specify Both Accounts’, this field is editable. When this field is editable it will display a lookup of all active GL accounts for the user to select the accrual account to use for the Brokerage. If this field is editable, it is required and will apply to all items within the assigned item set(s)), but is always editable. The drop-down menu displays all active GL Accounts configured in the system. This field determines the debit account for the program settlement.
- Credit/Accrual Account: This field defaults to (From Item), but is always editable. The drop-down menu displays all active GL Accounts configured in the system. This field determines the credit account for the program settlement.
- Inactive: This field allows users to inactivate the program. When the program is set to inactive, it is not assigned to Sales Order transactions.
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