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GL Account - Purchase Clearing

GL Account - Purchase Clearing

Apr 24, 2024

The GL Account that is used for the following Transaction journal entries:

  • AP Invoices: The debit account used for purchase order line items with a 'Distributed To' value of either Item, Landed, Layer-Lot or Layer-Transaction. 

  • AP Credit Memos: The credit account used for purchase order line items with a 'Distributed To' value of either Item, Landed, Layer-Lot or Layer-Transaction.

The GL Account that is used for the following Costing journal entries: This only applies to the 'Actual' cost of Items with a Costing Method of "Active".

  • Inventory Receipts: The credit account used for purchase order line items.

  • Cost Applications: The GL Account used when matching AP Invoices to Receipts for purchase order line items.