I am trying to update my Company Configuration and when I save this is the message I am getting. I am not sure what Logged Invoice Account option is??
See this setting:
The help for that field is:
Determines how a logged invoice is processed through the accounting system.
TR = Authorization Tracking. Logged invoices are not processed by the Posting Engine. Logging invoices is done for tracking purposes. Full accounting is done when the AP Invoice is created.TA - Account for Taxes. When logged invoices are posted, accounts payable and tax amounts are booked directly to the respective accounts, the invoice net amount is posted to a Logged Invoice Suspense Account. The entry is removed from the suspense account when the logged invoice is converted to an AP Invoice.
S - Book All to a Suspense Account. When the logged invoice is posted the tax invoice and net amount are posted to a Logged Invoice Suspense Account. The entry is removed from the suspense account when the logged invoice is voided or converted to a regular AP Invoice.
edit
Also make sure the GL Control for Company->AP has a GL account specified for the Expense and Payables Suspense contexts:
Note: we don’t use the Suspense Account so our Payables Suspense can be blank.