When user makes the adjustment then two entries will be inserted into GLIJEMST (Journal Entries) with an adjustment amount. If adjustment amount is positive then one record will be debit to "GL Notes Receivable "account which is configured in the Control file settings and another record will Credit to Account number which is selected in the" Use Account" field of Adjustment screen. If adjustment amount is negative then one record will be credit to "GL Notes Receivable "account which is configured in the Control file settings and another record will debit to Account number which is selected in the" Use Account" field of Adjustment screen. User can verify the entries in summit application by following the below steps. - Login to summit application
- Select /Click General Ledger Menu
- Select Report and Inquiry Menu
- Select View Account History
- Enter Account number, Accounting Year, Period (Beginning and ending)
Below report will give the required details
- To view Note creation details, select the record and double click.
- Example: Below account Number: 11100001 is Notes Receivable Account, so payment amount will debit to this account.
Double click on the record.
- Below account number: 11100090 is "Interest Income Account", so payment amount will be credit to this account.
Double click on the record
OR
- Login to summit application
- Select /Click Petrolac Menu
- Petrolac Dates screen will appear. Click OK.
- Select End of Period Menu on Petrolac Main Menu screen.
- Select G/L Distribution Report Menu on End of Period Menu screen.
- Enter Transaction Date (Beginning and ending) and click on View Report button.
- Below report will give the required details
|