Accounting in WESPaC

Accounting in WESPaC
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AP, Payroll, & AR
Sean Schaeffer

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Accounting in WESPaC

 Have you ever wanted to see AP, AR, or
Payroll transactions explained with traditional
general ledger entries and T-accounts?
 Have you ever wanted to understand which
fields or settings impact the accounting for
these transactions?

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Accounting in WESPaC
Agenda
■ Perpetually Closing System

 AP Factors and Scenarios
 Payroll Factors and Scenarios
 AR Factors and Scenarios

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Accounting in WESPaC
Perpetually Closing System
 Revenue and Expenditures are closed to Equity/Fund Balance
account codes with each Accounting Update
 System identifies the Equity account code to post to by the
applicable fiscal year’s link/relationship with the Revenue or
Expenditure account code
 Posting Date determines the applicable fiscal year
 Viewable in Account Profile for Current Year
 Viewable for all years on Budgetary Data Mining reports

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Accounting in WESPaC
Perpetually Closing System

Link used during
Accounting Update

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General – Equity Summary Posting

Report shows Equity Summary
Relationship

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Accounting in WESPaC
Accounts Payable
 Several factors influence the accounting in AP
 Invoice Distribution Line
Account Code
Amount & Signage

 Status
 Check Type
 Accrual (Account)
 Bank Cash Account
 Posting Dates
 *Comp Tax option
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Accounting in WESPaC
Accounts Payable
 Invoice Account Distribution Line
 Account Codes for first portion of accounting
entries
Also identifies Equity account code for closing

 Amount & Signage
Total amount, which includes sales tax or other
charges
Signage (such as positive or negative amount)
contributes to determination of debiting or crediting the
Distribution Lines’ account codes.

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Accounting in WESPaC
Accounts Payable
Invoice Account Distribution

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Accounting in WESPaC
Accounts Payable
 Status
 Along with the distribution’s amount signage, contributes to
determination of debiting or crediting distribution account
codes.
 Two relevant Statuses: Batch and Reversal (V)
For a Regular-Check Type invoice with positive Distribution amounts,
a status, Batch, debits its Distribution account codes and credits the
Accrual account code.
Reversal Status applies the opposite logic to reverse or wash-out the
accounting of preceding Open-Status invoice.
 For a Regular-Check Type invoice with positive Distribution amounts, a

Reversal will credit its Distribution account codes and debit the Accrual
account code.
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Accounting in WESPaC
Accounts Payable
 Check Type
 Along with the Amount signage and Status, determines
the Distribution account code(s) will debited or credited
 Determines if the accounting is accrued or if cash is
recognized during Batch Update

Certain Check Types offset
to selected AP Accrual
account code
Other Check Types offset to
selected Cash account code
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Accounting in WESPaC
Accounts Payable
 Accrual
 Identifies the account code that invoice’s Distribution is accrued against.
Automatically offsets Distribution account codes during Invoice Accounting Updates (Batch
Update)
Alleviated or reversed when Check Register is Updated
Only applicable for Check Types: Regular, Hold, Single, Pay, and ACH

 Uses Summary Account mechanism:
“**” replaced with Distribution Account codes’ fund to determine actual account code
 If Summary Account code doesn’t have an actual account in the COA, then it posts to
default AP Accrual code’s account. Otherwise, the Update errors.

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Accounting in WESPaC

Accounts Payable
Accrual

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Accounting in WESPaC
Accounts Payable
 Bank Cash Acct:
 Identifies the account code for impacting cash
Offsets Account Distribution during Batch Updates for
Check Types, Manual, Void, and Wire Transfer
Offsets the Accrual Account code during Check
Register Update for other Check Types

 Uses Summary Account mechanism:
“**” replaced with Distribution Account codes’ fund to
determine actual account code

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Accounting in WESPaC
Accounts Payable
Bank Cash Account

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Accounting in WESPaC
Accounts Payable
Inter
actio
n and
Impa
ct by
Chec
k
Type

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Distribution Accounting

Check Type

Accrues?

Cash
Account
Timing

Batch
Status

Reversal
Status

Regular,
Single, Pay,
and ACH

Yes

Check
Register
Update

Pos Amt - Dr
Neg Amt - Cr

Pos Amt - Cr
Neg Amt - Dr

Hold

Yes

N/A

Pos Amt - Dr
Neg Amt - Cr

Pos Amt - Cr

Neg Amt - Dr

Manual,
Wire Transfer

No

Invoice
Batch
Update

Pos Amt - Dr
Neg Amt - Cr

Pos Amt - Cr
Neg Amt - Dr

Void

No

Invoice
Batch
Update

Pos Amt - Cr
Neg Amt - Dr

Pos Amt - Dr
Neg Amt - Cr

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Accounting in WESPaC
Accounts Payable
 Posting Dates
 Determines timing of accounting
 Impacts the Month and Fiscal Year that the invoice and
payment post to
YTD reports

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Accounting in WESPaC
Accounts Payable
 Posting Dates
Select during Accounting Update (Batch Update)

Select while creating Check Register

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Accounting in WESPaC
Accounts Payable

 Several factors influence the accounting in AP
 Invoice Distribution Line
Account Code
Amount & Signage

 Status
 Check Type
 Accrual (Account)
 Bank Cash Account
 Posting Dates
 *Comp Tax option
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Accounting in WESPaC
Accounts Payable – Scenario #1
 Scenario #1 – Regular Issue
 Account Distribution Account: 10 E 530
 Account Distribution Amount: +$1,540.00
 Status: Batch
 Check Type: Regular
 Accrual: ** L 601
 Bank Cash Account Summary Acct: ** A 241

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Accounting in WESPaC
Accounts Payable – Scenario #1
Invoice Accounting Update (Batch Update)

Accrual

Equity Summary
Acct
Account
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Accounting in WESPaC
Accounts Payable – Scenario #1
Invoice Accounting Update (Batch Update)
Posting Date

Posting
Date

Account
Account
Account
Account
Account

DR

DR
DR
DR
DR
Positive
Positive
Positive Dist.
Dist.
Dist.Total
TotalTotal
Dist.
Total

Accrual
Posting Date Accrual

Equity Summary Acct.

Offset
Offset
Offset
Amt.
Amt.
Amt.
Dist.
Dist. Total
Total

Equity Summary
Acct

Account
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CR
CR
CR
CR

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Accounting in WESPaC
Accounts Payable – Scenario #1
Invoice Accounting Update (Batch Update)
** L 601 0000 00 0000 000 0000 0000

1,540

10 Q 890 0000 00 0000 430 0000 0000
10 E 530 0100 32 5000 430 0000 0000

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Accounting in WESPaC
Accounts Payable – Scenario #1
Invoice Accounting Update (Batch Update)
Posting Date

01/31/2013
01/31/2013

Account
27 5000 430 0000 0000
10 E 530 0100 32

DR

CR

1,540

10
601 0000
0000
00
0000
0000
000
00000
0000
0000
0000
0000
** LL 601
** L00
601
0000
0000

000 0000 0000
10 Q 890 0000 00 0000 430 0000 0000

1,540

1,540

10 Q 890 0000 00 0000 430 0000 0000
10 E 530 0100 32 5000 430 0000 0000
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1,540

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Accounting in WESPaC
Accounts Payable – Scenario #1
Invoice Accounting Update (Batch Update)
Posting Date
01/31/2013

Account
10 E 530 0100 32 5000 430 0000 0000

DR
1,540

10 L 601 0000 00 0000 000 0000 0000
10 Q 890 0000 00 0000 430 0000 0000

View Update History (Financial Management\Account
Management\AM\Setup\AU\VU)
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CR

1,540
1,540

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