Payment GL definitions allow you to designate where GL entries for specific transactions will be made. For example, if all credit card payments should debit a specific cash account instead of the default cash account you can specify this through the Payment GL Definition. Note that if the setting of GL entries should be product specific then you will want to use Product GL accounts, but if the GL entries need to be consistently set based on transaction details, regardless of product, this is a good tool to use.
1. Fill in all fields on the record
- Name - Friendly name for the definition
- Entity Type - Drop down allows you to select which entity you want this payment definition to be triggered from.
- Account Type - Make sure to set the GL account type that matches the GL account you look up to in the General Ledger Account Field
- General Ledger Account - Look up to the General Ledger Account that GL entries will be directed to
- Sort Order - If you are using multiple payment definitions set the order in which the system should evaluate them.
2. Save the Record
3. Click View Query in the Toolbar
4. Set the query that must be met for the definition to adjust the GL entries from default
5. Click Save in the toolbar
Moving forward records that meet your type/query will have GL entries set to match the record.
Note that if you do set a definition for payment records it is advisable to set up a matching refund definition. This will allow the records to balance the same account. So thinking about any reversals make sure you set up definitions to handle changes from the same account so that you don't have a Debit to one and a Credit to default.