ctcLink Reference CenterAccounts Payable Vouchers 10Correcting Accounting Entries in Accounts Payable (Journal Voucher)

Correcting Accounting Entries in Accounts Payable (Journal Voucher)

Purpose:  Journal vouchers are used to adjust accounting entries for vouchers that have been posted and paid, and whose payments have been posted.

Audience:  AP Specialist/AP Manager

Scenario: A Voucher has been created using an incorrect Chartfield string, and is posted and paid. All other information on the voucher is correct. To avoid making a manual General Ledger entry, which would result in General Ledger and Payables being out of sync, or unposting the voucher, correcting the voucher and then reposting the voucher and payment, we simply enter a Journal voucher in Account Payable. On the journal voucher, we reverse the amount to the incorrect Chartfields and add the amount to the correct Chartfields. This will keep the General Ledger and Payables in sync.

Example:

Voucher 00004339 (BU WA220) has been entered incorrectly with project ID 0000001780, and is posted, paid and GL distributed. The project id should be 0000001783. Therefore, to correct the project ID we will create Journal Voucher in AP module.

Navigation:   Accounts Payable > Vouchers > Add/Update > Regular Entry > Add a New Value tab

Create a Journal Voucher

In order to create a Journal Voucher, you must first know the Voucher ID and the Supplier associated with that Voucher.

Business Unit:  BU defaults to specific value for each user.

Voucher ID: Defaults to NEXT. The system sequentially numbers the voucher. DO NOT CHANGE.

Voucher Style:  Select Journal Voucher.

Supplier ID:  Enter the Supplier ID that is identical to the origianl voucher to be corrected. Make sure Supplier location is correct.

Invoice Number:  Enter the invoice number as entered on the original voucher and add the suffix of JV.

Invoice Date:  Enter the same invoice date as entered on the original voucher.

Click Save.

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