Defining General Ledger Accounts
This task is used to define receivable, pre-payment
liability, write-off, cancellation, and discount transactions as well as the
pay priority of a given product within an order. Also, this task defines tax
categories (e.g. US, GST, and VAT).
1. From the Product
Definition task category, click Define GL Accounts. The General Ledger
Accounts screen displays.
2. Click Define
Accounts.
3. Use the account
name hyperlinks to select the following accounts:
·
Receivable Account
·
Writeoff Account
·
Cancellation Account
·
Discount Account
·
Deferred Discount
·
Agency Discount
·
Deferred Agency
4. If the product
uses sales tax, perform the following:
a. From the Tax/VAT
Control, select the Taxable checkbox.
b. Select the Tax
Category from the drop-down.
5.
Click Save. 