A/P Payment Update Examples - Canadian Invoice with VAT

A Canadian invoice with VAT is selected for payment. Cash payment = $760.40, of which $72.80 is for ‘retention’. A discount of $32.50 is also taken.

EXAMPLE #1:

The Payments G/L Detail Report shows the following when the ‘payment cost center’ and the ‘invoice cost center’ are the same:

EXAMPLE #2: The Payments G/L Detail Report shows the following when the ‘payment cost center’ = ‘333’ and the ‘invoice cost center’ = ‘201’, assuming the inter-post account is 00-1500 in Accounts Payable Installation:

EXAMPLE #3:

If ‘Entity tracking’ is enabled, the Payments G/L Detail Report shows the following when the ‘payment cost center’ = ‘333’ and the ‘invoice cost center’ = ‘201’, and assuming the Entity inter-post is set up as follows: