Accounts Payable

The Accounts Payable tab stores default accounts that apply by Fiscal Year to Accounts Payable functionality. Sub account fields are always optional, even if the primary account is required by other system configuration.

The following table displays default accounts in alphabetical order.

Default Account	Description
Accounts Payable Accounts Payable Sub Account Accounts Payable Override	An open-use payable liability for use when Disbursements Payable is not the correct account. One example would be in recording accruals in the prior period or year.
Backup Withholding On	The inferred setting from the System Options reference page to assist in the completion of default account values that contain edits for being required based on this option.
Backup Withholding Payable Backup Withholding Payable Sub Account Backup Withholding Payable Override	The liability account used to maintain the balance of withholding offset amounts payable to the IRS.
Cancelled Disbursements Payable Cancelled Disbursements Payable Sub Account Cancelled Disbursements Payable Override	The liability account is used to record the liability when a disbursement is cancelled.
Contract Withholding Enabled	The inferred setting from the 1099 Processing Options and Controls (1099P) page to assist in the completion of default account values that contain edits for being required based on this option.
Contract Withholding Payable Contract Withholding Payable Sub Account Contract Withholding Payable Override	The liability account used for Contract Withholding.
Disbursement Option	The inferred setting from System Options (SOPT) to assist in the completion of default account values that contain edits for being required based on this option.
Disbursements Payable Disbursements Payable Sub Account Disbursements Payable Override	The liability account used to record the liability between the point of payment request and disbursement.
Escheat Payable Escheat Payable Sub Account Escheat Payable Override	The liability account recording the total of disbursements deemed escheated.
Expenditure Offset Expenditure Offset Sub Account Expenditure Offset Override	The equity account used to offset expenditures used to purchase an asset.
Intercept Application On	The inferred setting from System Options (SOPT) to assist in the completion of default account values that contain edits for being required based on this option.
Intercept Cash Account Intercept Cash Sub Account Intercept Cash Override	This cash account used to accumulate the cash set aside in a payment intercept before transferring it to the claim recipient.
Intercept Payable Intercept Payable Sub Account Intercept Payable Override	The liability account used to accumulate payment-offset amounts before transfer to the claim recipient.
Payroll Clearing Fund Payroll Clearing Sub Fund Payroll Clearing Fund Override	This default fund is not used by the application. Payroll Clearing Funds are specified directly in the Payroll transactions when using Advantage payroll and to the Payroll Journal Voucher when using another application.
Retainage Payable Retainage Payable Sub Account Retainage Payable Override	The liability account used to hold funds retained in the execution of a contract until terms of the contract are fulfilled so the funds are released. If not fulfilled, the funds are forfeited.
Stale Dated Payable Stale Dated Payable Sub Account Stale Dated Payable Override	The liability account recording the total of disbursements deemed stale dated.
Undistributed Receipts Undistributed Receipts Sub Account Undistributed Receipts Override	The liability account updated when retainage is forfeited when revenue is not the correct account because of reasons such as being withheld in the prior budget fiscal year.
Use Tax Payable Use Tax Payable Sub Account Use Tax Payable Override Use Tax Fund Use Tax Sub Fund	The term use tax refers to a conditional sales tax charged on goods purchased without paying a sales tax when sales tax would normally be applied in their home state. One of the most common instances of the use tax is when goods are purchased from another state where no sales tax is levied and the goods are used, stored, or distributed where a sales tax would normally apply. The rate is generally the same as the local sales tax rate. When applicable, a liability account is required to temporarily hold use taxes applied before being remitted. A sub account is optional but may be required for reporting reasons. Override accounts are available on Fund Special Accounts. In lieu of recording the temporary liability in operating funds before remittance, a holding fund is available to record the liability directly for easier remittance. A sub fund is optional but may be required for reporting reasons.
Warrants Payable Warrants Payable Sub Account Warrants Payable Override Warrant Clearing Fund Warrant Clearing Sub Fund Warrant Clearing Fund Override	Two Disbursement Options use a liability account to hold amounts for payments that have not been redeemed by the vendor instead of directly crediting cash: Standard Warrant or Clearing Fund Warrant. When applicable, a liability account is required to temporarily hold the payable amount until a warrant is cleared or another post issue action is taken. A sub account is optional but may be required for reporting reasons. Override accounts are available on Fund Special Accounts and Bank. Standard Warrant holds the payable in the operating fund of the payment, whereas Clearing Fund Warrant holds the payable in a special fund so that cash is immediately credited to the operating fund. A sub fund is optional but may be required for reporting reasons.