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Accounting for Commitments

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Accounting for Commitments

Payment commitments to vendors are entered into the general ledger with this interface.  Commitments are automatically generated and  posted to the general ledger through out the purchasing, receiving, and payment process.

 

Commitments are closed automatically when the voucher generated for the purchase order is paid, or they can be closed manually at any time.

 

The features in this module include:

  • User-defined posting parameters
  • Purchasing, receiving, and payment transactions recorded to the general ledger
  • Reverse postings made when commitment is closed

 
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