Use this screen to establish the requirements for setting up vouchers. You must establish voucher settings when initializing the system and before entering vouchers.
There are three methods to number the vouchers: company-wide, user-specific, or manually assigned by the user. Depending on the method you select, voucher numbers can be assigned at the beginning or end of the voucher input process. User-specific and manually assigned methods will generate or require a voucher number in the beginning, whereas the company-wide method will generate a voucher number when you save the voucher. Regardless of which method you select, the system requires that the voucher numbers be unique for each fiscal year.
Select this radio button to have the system assign voucher numbers. This method of assigning voucher numbers on a company-wide basis is the default. Enter an amount in the Last System Voucher Number field, and every voucher added into the system will be incremented by one from that number.
Select this radio button to assign voucher numbers on a user-specific basis. The system will keep track of the last voucher number used by each user and increment the next voucher number by one. You can override the voucher number generated by the system, but the last voucher number stored by the system will not be changed. You can change the last voucher number in the Last System Voucher Number field in this screen.
Select this radio button to assign voucher numbers manually. The system will require a voucher number at the beginning of the input process.
Enter the last voucher number. You can enter up to nine digits.
Select this checkbox if vouchers need to be approved before they can be posted to A/P.
Enter an amount in this field. Vouchers that are greater than this amount require approvals. The amount specified should be the invoice amount before discounts. If you did not select the Require Approvals checkbox, this field will be inaccessible.
Select this checkbox if you want the system to accept and process duplicate invoice numbers.
Use the options in this group box to select a default tax code for the A/P Vouchers screen. When you enter PO or A/P vouchers, the system will default to one of these sales tax codes.
Use the drop-down box to select a default sales tax code for the A/P Vouchers screen. The valid choices are "Non-Taxable, (the default selection)" "Sales Taxable" (for sales or value added tax), or "Use Taxable" (for use or reverse tax).
Select this checkbox if you need the system to post a journal entry accruing the use tax liability and expense at the time the vouchers are posted. The system will calculate the use tax accrual for those voucher lines that are taxable, for which the vendor did not charge you sales tax. You are responsible for remitting this use tax to the applicable state or provincial government.
However, if you select Post Use Tax Accrual checkbox, you must also establish special Use Tax Codes per taxable jurisdiction. You can set up these codes in the System Codes menu of Costpoint System Administration, and they are instrumental in designating where the accrued taxes will be posted in the General Ledger. In the Maintain Sales/Value Added Tax application, you must flag each use tax code as "Exempt" (exempt from sales tax) and enter the applicable Certificate No. Please refer to the System Administration manual for more information.
Any discounts that you receive due to timely payment of vendor invoices can be assigned back to the original voucher item (resulting in a discount of the item's cost) or can be assigned to a separate account (all amounts saved from discounts will appear in one account).
Select this radio button to automatically credit discounts taken back to the individual line items on the voucher.
If you select this radio button, enter, or use Lookup to select, the discount account in the field below. After you enter an account, the system will validate that the account is chargeable and active. The discount account must be linked to all organizations in the A/P Accounts screen.
After selecting a discount account to which to charge discounts, choose which organization will receive credit for any A/P discounts.
Select this radio button to automatically credit discounts to the organization listed on the original voucher.
Select this radio button to automatically credit discounts to the accounts payable organization.
Select this radio button to post charges to the G/L without subtracting the discount amount. When you post cash disbursements, any discounts taken will be posted as a credit to the G/L either against individual line items or against one discount account. If your company generally does not take advantage of discounts, select this method.
Select this radio button to post charges to the G/L, including the discount amount.
Discounts cannot be taken on vouchers that are posted using the net method, because the posted amount is already net of the discount.