Setting Up Multiple Posting Accounts for Varying Transaction Types (Sage X3 – V6 and above)

Commonly our customers need multiple accounts to be configured for posting.  Clearly you need to use the right account for a particular type of transaction.Let’s say your company has a separate account to record a credit memo for damaged products and another account to record all other sales credits. In this case, you will need two different kinds of credit memo transactions, i.e., Transaction Types – one for Damages and the other for all other Sales Credits.

Let’s take a look at how to create Transaction Types and set Automatic Journals to pick the right account for posting:

Step 1: Add account at the Accounting Code Setup

Add a new account to a ‘Sales’ line (or any appropriate line) in the Product’s accounting Setup.

If you don’t have any blank lines, add a new line from the ‘Accounting Code Lines’ function.

Make a note of the Line Number against which the new account is assigned. This account will be tagged to the right type of transaction as explained in the next steps.

Step 2: Create a new Transaction Type

Create a new ‘Invoice Type’ with appropriate code and description. For our example, we have chosen ‘Damages’ as the new transaction type.

Since it is a credit memo, make sure you select the default options such as Credit Memo, BP Auto Journal and Entry Type.

Step 3: Create a new Sales Auto Journal

Before you click to create the Transaction Type, drill down into the Sales Auto Journal option to create a new automatic journal.

This is the section where we will assign the right account for the kind of transaction we are creating, i.e., Sales Credit for Damages.

It is highly recommended that you open an existing Auto Journal and replicate the same with a new Entry Code. In this example, we have taken the code ZSIHI and created a new entry code ZSIH2 based on it, so that we have all the standard configurations set.

Once after the new entry code is created, click the ‘Lines’ option from the bottom of the screen to assign the right account for ‘Sales Credit on Damages’.

Based on the appropriate title from the Left List, set the Line Number we added at the Accounting Code Setup under the Index column. Ensure you are assigning on the right line – we need to use Product’s Accounting Code, and the account mapped to line 71 from the Accounting Code will now be assigned for posting.

‘Save’ this entry and Automatic Journal. Ensure that the Entry Code is selected before you close the ‘Invoice Type’ screen.

This is the end of the setup. Now to create credit memos for Damages, pick the right Invoice. Type “DMG” at the Sales Invoice screen, and every transaction will post to the assigned account.

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