The settlement type of the payment transaction. You can use the Settle open transactions page to settle invoices that were ...

The settlement type of the payment transaction. You can use the Settle open transactions page to settle invoices that were previously posted. When you record a vendor payment and specify Vendor in the Account type field, the transaction is posted to the selected vendor account. At the same time, a transaction is made automatically in the vendor summary account in the general ledger.
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