Accounts Payable Invoice Freight and Prompt Payment Discount Allocation
Beginning in April, the following changes will appear regarding invoice transactions:
- If an invoice includes Freight or Miscellaneous (e.g., for discounts) charges, and the invoice has charges to multiple PTAEOs, the Freight or Miscellaneous charges will be allocated to all PTAEOs. (Previously, the Freight or Miscellaneous charge was only applied to the invoice’s last PTAEO.) This will result in more lines appearing on your financial reports, reflecting the allocation.
- If an invoice is paid to a vendor that provides a discount due to prompt payment (e.g., 1% discount if paid within 10 days of Invoice Date), the discount will be allocated to each PTAEO line. (Previously, prompt payment discounts were booked to a central account.) This will result in credit lines appearing on your financial reports, reflecting the allocation.
For questions, please contact Linda Haigh at 2-2053 or firstname.lastname@example.org.