Reviewing Accounting Entries for Vouchers

The Voucher Accounting Entries page is a very helpful tool that provides a link between Voucher accounting entries and the GL Journals on which they are recorded.  After vouchers have been paid and posted, users may wish to review the related accounting entries.  

As transactions run through the nightly Post Liabilities and Post Payment batch process, accounting entries are generated by SMART and then become visible on the Voucher Accounting Entries page.  Only Vouchers that have been posted will have entries on this page.  

The Voucher Accounting Entries page will show the accounting entries associated to a Voucher.  Generally, Vouchers will have an 'AP ACCRUAL' and 'PAYMENTS' record.  The AP ACCRUAL records the liability for the Voucher.  The PAYMENTS records the accounting entries associated with the payment of a Voucher.  

Navigation: 
From the Home page in SMART, click the 'Accounts Payable' link on the left navigation menu, then click 'Review Accounts Payable Info', then click 'Vouchers', and then click the 'Accounting Entries' link.


Step 1:

On the Voucher Accounting Entries page:

Enter the Business Unit ID number in the 'Business Unit' field and Voucher ID in the ‘Voucher ID’ field, and then click the Search button.


Image of the Voucher Accounting Entries search page

The Voucher Accounting Entries page opens:

1. Use the horizontal scroll bar to scroll to the far right-hand side of the page to ensure all records are being displayed.

Generally, there are two records for each voucher that has processed for payment.

If a voucher has been 'Unposted' and 'Reposted', or 'Closed' additional corresponding records will be displayed.

2. If there are multiple records, click the 'View All' link to view all the records.


Image of the Voucher Accounting Entries page search results

Step 2:

The numbers in the list below refer to the numbered elements contained within the screenshot (shown below):

1. Clicking the 'View All' link ensures all record lines are displayed and visible.

2. In the Accounting Information section:  

The Main Information tab displays general information for each voucher distribution line.  This section will display accounting lines from the voucher along with system-generated accounting lines for the offset accounts (such as Accounts Payable).

3. For the voucher line entries, the system will display the description listed for each voucher line from the voucher.  This information will be repeated for each distribution line.


Image of the Voucher Accounting Entries page Main Information tab

Step 3:

In the Accounting Information section, Chartfields tab:

AP Accrual – Voucher Entered and Posted 

There are two accounting entries for the voucher transaction once the voucher has been entered and posted.

  1. Accounts Payable lines are system-generated accounting lines for the offset account, Accounts Payable. This entry accounts for what is owed to the vendor.
  2. Expense distribution lines as listed on the voucher.  This entry tracks the chartfield distribution of the expense.


Payments – Payment Processed and Posted

  1. All lines listed in this section are system-generated. There are two accounting entries for the voucher transaction at payment time: accounts payable and cash distribution. The accounts payable entry removes the liability that was created when the voucher was posted. The cash distribution entry represents the actual cash payment and the reduction to the cash account.

Image of the Voucher Accounting Entries page Chartfields tab

Step 4:

In the Accounting Information section:

The Journal tab displays the Journal ID, GL Journal Line Number,  Journal Date, Budget Date, Budget Status and Accounting Date for the associated accounting entry line. 

AP Accrual

  1. This section displays the general ledger Journal ID, Line Number, and Journal Date assigned by the Journal Generator process for this accrual accounting entry. If these fields are blank, then this accrual accounting entry has not been journal generated.
  2. The Budget Date field indicates which budget period is impacted.  This information is derived from the budget date listed on the Invoice Information tab of the source voucher.
  3. The Accounting Date field is populated with the accounting date listed on the Invoice Information tab on the source voucher.


Payments

  1. This section displays the general ledger Journal ID, Line Number, and Journal Date assigned by the Journal Generator process for this payment accounting entry. If these fields are blank, then this payment accounting entry has not been journal generated.
  2. The Budget Date field is derived from the payment date listed on the Payments tab of the source voucher.  This field indicated which budget period is impacted.
  3. The Accounting Date field is derived from the accounting date listed on the Payments tab of the source voucher.

Image of the Voucher Accounting Entries page Journal tab