Financial File Import - Vendor Payments

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Sam Ellis

• April 02, 2020 15:11

When I import an OFX bank file I get a list of transactions where I can assign customer/vendor account and the GL account. 

In my list I have a number of vendor payments which I'll need to apply to payables. What is the correct process in the file import screen to be able to apply the vendor payments to payables after I hit the create/update records button. 

What happens at the moment is I chose the vendor and then choose 'accounts payable' GL account. It creates a cash disbursement and the associated transactions are CR bank and DR accounts payable which seems correct.

BUT, when I click 'apply' I get the following error message:

Error: A Cash Disbursement can not be applied to unpaid Payable records when the Debit GL Account is null or set to the AP Control Account.

So I cannot apply unless I change the GL account from AP to something else, which doesn't seem correct as I already set the GL account at the accounts payable line level so I don't want to choose an expense account. Also, it doesn't make sense to use an alternative balance sheet GL account as it really needs to be going against AP.

 

If I delete the cash disbursement, go to the payable, click 'Pay' it creates the transactions DR AP CR bank which is the same as the cash disbursement which was created by the OFX file import. So I'm not really sure why it doesnt like the cash disbursement I created via OFX import.

 

 

 

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  Rebecca Ralls

  • April 02, 2020 18:09
  • Edited

  Hi Sam,

  If you are creating Cash Disbursements through the bank direct connect feature, you'll need to hit some other balance sheet/clearing account other than AP. Such as Prepaid Expenses.  When you apply the Cash Disbursement to the Payable, that is the transaction that will reverse the balancde out of the clearing account, and reduce your AP balance.  

  You're right that this does not match what happens when you pay a payable directly.  When you pay a payable directly, the Accounting Seed system "shortucts" the application process and the cash disbusement debits AP directly.  You'll notice, in this cirumstance, if you look, that the AP Disbursement record which relates the Cash Disbursement to the AP does not have any transactions.  

  But when you manaually apply a Cash Disbursement to an AP the AP Disbursement *does* generate transasctions, so if you specify the AP Account on the Cash Disbursement, it will hit it *again* when you try to manually apply the Cash Disbursement to the AP.

  Let me know if that answers your question :-)

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