The Procurement tab stores default accounts that apply by Fiscal Year to Procurement 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.
The Miscellaneous tab stores default accounts that apply by Fiscal Year to primarily to the annual close system process, but also contains several open-use accounts. 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 |
Description |
Due From Fund Due From Fund Sub Account Due From Fund Override |
The asset account used for internal accounting that does not result in a cash transfer for both parties. |
Due To Fund Due To Fund Sub Account Due To Fund Override |
The liability account used for internal accounting that does not result in a cash transfer for both parties. |
Inventory Due From Fund Inventory Due From Fund Sub Account Inventory Due From Fund Override |
The asset account used for internal inventory accounting that does not result in a cash transfer for both parties. |
Inventory Due To Fund Inventory Due To Fund Sub Account Inventory Due To Fund Override |
The liability account used for internal inventory accounting that does not result in a cash transfer for both parties. |
Inventory Offset Inventory Offset Sub Account Inventory Offset Override |
The equity account used to offset expenditures for inventory being purchased into a warehouse. |
Pre-Paid Expense Pre-Paid Expense Sub Account Pre-Paid Expense Override |
The asset account used to record the amount pre-paid for goods or services in, which is then reduced over time. |
Reserve for Memo Encumbrance Reserve for Memo Encumbrance Sub Account Reserve for Memo Encumbrance Override |
The contra asset account used to offset the Memo Encumbrance booked when ordering goods for inventory. |
Reserve for Memo Pre Encumbrance Reserve for Memo Pre Encumbrance Sub Account Reserve for Memo Pre Encumbrance Override |
The contra asset account used to offset the Memo Pre-Encumbrance booked when requisitioning goods for inventory. |
Reserve for Encumbrance Reserve for Encumbrance Sub Account Reserve for Encumbrance Override |
The equity account used to offset the Encumbrance booked when ordering goods or services. |
Reserve For Pre Encumbrance Reserve for Pre Encumbrance Sub Account Reserve for Pre Encumbrance Override |
The equity account used to offset the Pre-Encumbrance booked when requisitioning goods or services. |