Friday Feature - Account Distribution in Payments
I am a big fan of automation. It makes my job easier because I can be more productive with less effort. That is a win-win for everyone. I especially like automatic mathematical equations. I set them up all of the time in Excel. That is why I am so excited about the new automatic account distribution for payments. Now, I am not just talking about AP payments to vendors, I am also talking about payments to employees and direct payments (to a vendor or not!). Check it out.
Here is a requisition with 15 accounts. Yikes! Now, I am no fool. I could do the math. But why? With the balancing capability, all I have to do is enter a payment amount, and Escape Online automatically distributes the account amounts to match the payment amount.
That may sound awesome in and of itself, but that’s not all we did. We also created specific distribution logic for the different payment types.
For employee and direct payments, the accounts are distributed based on the ratio of that account's current amount to the total of all account amounts.
For AP payments, the distribution method is slightly different. First we subtract non-requisition accounts to determine the amount to distribute, then we use the liability accounts (if they exist), and finally the expense accounts.
Now, I know I said there was no reason why I wouldn't want to use the auto-balancing, but we all know better.
Indeed, there are reasons why I might want to distribute those amounts myself.
If that is the case, all you have to do is set the Manual Account Distribution flag to YES, and you can enter account amounts the way that you think is best.
But that's not all that is amazing.
This change was voted by our customers as one of the top CRs for Finance for version 12.03, proving that with Escape Online everyone is a winner.