Version 8.5.0.1 Purple - September 15, 2010

ACCOUNTS PAYABLE

•ENHANCEMENT - A new setting in the Accounts Payable Properties called Post "Net" Cost after Discounts to Job Cost System will now allow cash discounts to be credited to the job cost instead of the traditional Cash Discounts account per the accepted accounting standard. Please check with your CPA before enabling this new setting as the normal standard is to track cash discounts under a separate account and NOT allow them to be credited to the jobs.

When this setting is enabled, the posting process for A/P Checks including automatic, hand-written, and voided checks will include an additional set of transactions in the job cost and general ledger historical files which will credit the job cost amounts and debit the cash discount amounts. These additional transactions will contain a description that begins with the word 'Discount' to help identify them. Note: This setting only affects vendor invoices that contain discounts which are coded to a job.