Accounts Tab of Accounting Company Settings

Use the Accounts tab to set up company accounts that receive automatic postings. If you use multiple companies, you also set up intercompany accounts to facilitate transactions between the companies within your enterprise.

Contents

Company Accounts

Field	Description
Accounts Receivable	Enter the account to which to post accounts receivable amounts. You can enter an account directly in this field or click and select an account. This account is used when invoices are posted and an accounts receivable account is not mapped to an invoice account on the Invoice Mapping Accounts tab in Settings > Accounting > Accounts Receivable. The default for this field is account 111.00 - AR Clients in the Standard Chart of Accounts. If you modify it, make sure that the new account has been set up in Settings > Accounting > Chart of Accounts.
Current Year P&L	Enter the account to which to post this year’s profit and loss amount. You can enter an account directly in this field, or click and select an account. Each time you print a Balance Sheet, Deltek displays the current year’s profit or loss amount from the Income Statement next to the Current Year’s Profit and Loss account in the Net Worth section. You cannot post to this account; Deltek calculates the balance for this account automatically. The default for this field is account 312.00 - Current Yrs Profit(Loss) in the Standard Chart of Accounts. You should not modify this account number. If you do modify it, make sure that the new account has been set up in Settings > Accounting > Chart of Accounts.
Prior Year Retained Earnings	Enter the account to which to post the prior year's retained earnings. You can enter an account directly in this field, or click and select an account. Deltek does not post profit or loss to the balance sheet until you initialize your files for a new year, at which time it posts to the Prior Years’ Retained Earnings account. You should not post to this account; Deltek calculates the balance for this account automatically. The default for this field is account 311.00 - Prev Yrs Retained Earnings in the Standard Chart of Accounts. You should not modify this account number. If you do modify it, make sure that the new account has been set up in Settings > Accounting > Chart of Accounts.
Do not allow Account Name Changes	Select this check box to prevent users from changing the name of a general ledger account in Setting > Accounting > Chart of Accounts after a transaction (posted or unposted) has been created for the account.

Intercompany Accounts

Field	Description
Accounts Receivable	Select an asset account. Deltek debits this account when you process invoices for intercompany billing. If you modify this account after you enter Labor Revenue and Expense Revenue accounts, the accounts in these two fields are removed because intercompany billing requires that they be mapped to the company's intercompany Accounts Receivable account on the Invoice Mapping Accounts tab of Settings > Accounting > Accounts Receivable.
Accounts Payable	Select a liability account. Deltek debits this account when you post vouchers for an intercompany transaction. If you selected the Enable Detailed Subledgers for Intercompany Billing check box on the General tab in Settings > Advanced Accounting > System, the accounts payable account that you select here should match the accounts payable account referenced by the AP Liability code entered on the Subledger Terms tab of Intercompany Billing Setup.
Suspense	Select a balance sheet account. When a transaction involves another company, some time elapses between the transaction's posting and its settlement through intercompany billing. Deltek uses an intercompany suspense account to prevent balance sheet tolerances until you next run intercompany billing. When you run intercompany billing, it creates the appropriate accounts receivable and accounts payable entries, clears this suspense account, and redistributes the credit amount to the appropriate company.
Labor Revenue	This field displays when the Enable Detailed Subledgers for Intercompany Billing check box is selected on the General tab in Settings > Advanced Accounting > System. Use this field to specify the labor revenue account that Deltek uses when intercompany invoice transaction files are generated for this company. The account that you specify here must already be mapped to the company's intercompany AR Account column on the Invoice Mapping Accounts tab in Settings > Accounting > Accounts Receivable.
Expense Revenue	This field displays when the Enable Detailed Subledgers for Intercompany Billing check box is selected on the General tab in Settings > Advanced Accounting > System. Use this field to specify the labor expense account that Deltek uses when intercompany invoice transaction files are generated for this company. The account that you specify here must already be mapped to the company's intercompany AR Account column on the Invoice Mapping Accounts tab in Settings > Advanced Accounting > Accounts Receivable.
Intercompany Cash Basis Suspense	You can access this field only if you have cash-basis reporting enabled and you use detailed subledgers for intercompany billing. Enter the account to which you want to post the balance that results from intercompany billing markups. This account applies only to cash-basis reporting when you use detailed subledgers. You can enter any account in this field. However, you should enter an indirect expense account because a balance can remain in the account. This cash-basis account is used on both the originating company's financial statement and the project’s financial statement. This account is used primarily by the intercompany billing process to track the cash receipt of the intercompany invoice and any markup on paid expenses. In addition, this account is used during payment of any intercompany expenses, which includes accounts payable and employee expense payments, accounts payable disbursements, and cash disbursements. This account should not have an accrual balance. You must also map the Intercompany Cash Basis Suspense account as the cash-basis account for the intercompany AR account in Settings > Accounting > Chart of Accounts. With this mapping, cash receipts for intercompany invoices post to the Intercompany Cash Basis Suspense account, which corrects the entries for cash-basis reporting. (When you enter an intercompany cash receipt, you reference an invoice and the intercompany AR account.) If you do not do this mapping, a balance remains in the intercompany AR account, and you must use a journal entry to move it manually.

Foreign Employee Type Labor Posting Accounts

Field	Description
Direct Account	Select a direct expense account. Deltek credits direct labor charges to this account when you post timesheets or labor adjustments that reference a foreign employee type.
Indirect Account	Select an indirect expense account. Deltek credits indirect labor charges to this account when you post timesheets or labor adjustments that reference a foreign employee type.