Implicit Posting Accounts
When you set up DPS, you specify which general ledger accounts to debit or credit automatically, or implicitly, when you post different types of transactions.
Implicit Posting Account | Description |
---|---|
Uninvoiced Revenue | This
account represents revenue earned, but not billed, as shown on the Income Statement.
When you run the revenue generation process, this account receives a credit for the total amount of project, phase, or task revenue. When you post invoices, this account receives a debit for the total amount billed by the invoices. You define this account on the Revenue tab of . |
Unbilled Services | This
account represents revenue earned, but not billed, as shown on the Balance Sheet, and serves as the offset entry for Uninvoiced Revenue.
When you run the revenue generation process, this account receives a debit for the total amount of project, phase, or task revenue. When you post invoices, this account receives a credit for the total amount billed by the invoices. You define this account on the Revenue tab of . |
Accounts Receivable | When you post invoices, this
account receives a debit for the total amount of the invoices.
You define this account on the Accounts tab of .You can set up invoice mapping accounts if you are maintaining multiple accounts receivable accounts. |
Current Year's Profit/Loss | This
account does not receive postings. The balance in this
account is recalculated each time that you generate a Balance Sheet.
You define this account on the Accounts tab of . |
Prior Year's Retained Earnings |
DPS calculates and posts earnings to this
account when you initialize the Accounting application for a new processing year.
You define this account on the Accounts tab of . |
Labor Expense Credit | This
account (also called the Job Cost Variance
account) represents the difference between the amount of labor costed to
projects and the amount paid to
employees for that labor. This
account can be an indirect expense
account or a liability
account.
When you post timesheets, this account receives a credit for the total labor cost amount. When you post payroll, this account receives a debit for the total payroll amount. You define this account on the Posting tab of . |
Miscellaneous Expense Credit | This
account receives the credit when you post a Miscellaneous Expense transaction.
You define this account on the Posting tab of . |
Reproductions Expense Credit | This
account receives the credit when you post a Prints and Reproduction transaction.
You define this account on the Posting tab of . |
Consultant Accrual Expense Credit | This
account receives the credit when you process
Consultant Accruals.
You define this account on the Posting tab of . |
Employee Expense Credit | This
account receives the credit when you post an
Employee Expense transaction.
You define this account on the Posting tab of . |
Employee Advance Credit | This
account receives the credit when you post an
Employee Repayment transaction.
You define this account on the Posting tab of . |
Cross Charge Credit Account | This
account receives the credit when you process a Labor Cross Charge. The credit is received by the
employee's
organization.
You must set up separate debit accounts for regular and overhead projects. You define these accounts on the Cross Charge tab of . |
Cross Charge Debit Account | This
account receives the debit when you process a Labor Cross Charge. The debit is received by the
employee's
organization.
You must set up separate debit accounts for regular and overhead projects. You define these accounts on the Cross Charge tab of . |
Labor Type - Direct Account | You can set up multiple labor types. You can associate each labor type with a different direct
account. This
account receives the credit for total direct labor charges when you post
employee timesheets.
You define these accounts in . |
Labor Type - Indirect Account | You can set up multiple labor types. You can associate each labor type with a different indirect
account. This
account receives the credit for total indirect labor charges when you post
employee timesheets.
You define these accounts in . |
Tax Code Credit Account | You can set up multiple tax codes. You can associate each tax code with a different
account, as needed. This
account receives the credit when you process invoices, cash receipts, and journal entries using the associated tax code.
You define these accounts in . |
Tax Code Debit Account | You can set up multiple tax codes. You can associate each tax code with a different
account, as needed. This
account receives the debit when you process
accounts payable vouchers,
employee repayments, and
employee expenses using the associated tax code.
You define these accounts in . |
Bank Code | You can set up multiple bank codes. Each bank code represents a different bank
account maintained by your enterprise. You can associate each bank code with a different
account, as needed. This
account receives the credit or debit (depending on the transaction type, receipt or disbursement) when you process transaction files associated with the bank code.
You define these accounts in . |
Liability Code | You can set up multiple liability codes and associate these codes with your
vendor types. You can associate each liability code with a different
account. This
account receives the debit when you process
accounts payable vouchers using the associated liability code.
You define these accounts on the Liability Codes tab of . |
Discount Code | You can set up multiple discount codes and associate these codes with your
vendors. You can associate each discount code with a different
account. This
account receives the credit for the discounted amount when you process
accounts payable vouchers using the associated discount code.
You define these accounts on the Discount Codes tab of . |
Invoice Mapping Accounts | You can link your invoice
accounts to multiple
accounts receivable
accounts. When you post invoices, each of these
accounts receives a debit for the total amount from the invoice
accounts mapped to it.
You define these accounts on the Invoice Mapping Accounts tab of . |
Salaries Payable Account | If you are not posting net payroll directly to a bank, this
account receives the credit for the net payroll amount (gross payroll minus withholdings) when you post payroll.
You define this account on the General tab of . |
Payroll Credit Accounts (FICA, Bonus Cost, Other Cost) | These
accounts receive debits during payroll processing.
You define these accounts in . |
Withholding Codes Credit Accounts | You can set up multiple withholding codes for payroll. You can associate each withholding code with a separate
account. This
account receives the credit for the amount of the withholding when you process payroll.
You define these accounts in . |
Expense Categories | You can set up multiple expense categories for expense report processing. You can associate each expense category with a separate
account. This
account receives the debit for the amount charged to the expense category when you post
employee expense reports.
You define these accounts in . |