Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What does the Initiator selection box do on the IET Header Page?

0
Posted

What does the Initiator selection box do on the IET Header Page?

0

The Initiator selection field on the IET Header page determines whether the Seller (credit entry) or the Buyer (debit entry) is entered on the Exchange Details page. If the Provider/Seller value is selected, then your seller information should be entered on the Exchange Details page (credit to revenue or expense). Conversely, if the Receiver/Buyer value on is selected, your buyer information should be entered on the Exchange Details page (debit to expense only). In addition, each Exchange Detail line can have multiple 2nd Party Accounting lines, but you cannot have one 2nd Party Accounting line with multiple Exchange Detail lines.

Related Questions

What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.

Experts123