Miscellaneous entries are essentially made by splitting one Debit account that we have on the General Ledger distribution into 2 pieces. One portion is used on the General Ledger distribution and the other portion is used to hold a place on the Miscellaneous entry. This allows you to make a credit entry to the account we need to reduce. It still gives the full amount debited to the one account, but appears on the invoice as 2 parts of a whole amount.
To add Miscellaneous entries:
- From an open transaction record, select the Distribution tab.
- In the field above the grid, select Miscellaneous Entries.
- In the DR Account Number column, enter the debit account(s) for the miscellaneous entry.
- Enter the amount of the distribution in the Amount column. You can manually enter amounts for each account or you can click Distribute Evenly to distribute amounts equally among the selected accounts.
- In the CR Account Number column, enter the credit account(s) for the miscellaneous entry.
- If applicable, enter the Interfund, Project, Class, Transaction Code, Attribute and Budget information.
- To preview General Ledger debits and credits for the invoice, click DR/CR Entries on the action bar above the grid.
- Click Save and Close.
For example, if you receive an invoice in the amount of $800, $1000 needs to be expensed 01-5100 and $200 in CR to 01-5200
Invoice amount: $800
- DR 01-5100 $800
- CR AP Summary $800
- DR 01-5100 $200 (This increases 01-5100 to the desired $1000)
- CR 01-5200 $200 (This decreases 01-5200 as desired)
So far, this will expense the full $1000, but the check will only be cut for $800 because the invoice amount is $800. It also obeys the rule that the invoice amount must match the GL distribution. If you cut the check for the invoice at this point the check will have the following distribution:
- DR AP Summary $800
- CR Cash $800