What Happens When You Post Employee Expense Payments

When you post payments for employee expenses, Vantagepoint updates the employee ledger, updates accounts, and updates check and transaction files.

During the posting routine, Vantagepoint:

• Updates the employee ledger with the advance or reimbursement amount.
• For any advance amounts applied to expense amounts, debits the expense account and credits the advance account.
• Updates the check file to include a record for each check or employee credit.
• Updates the bank transaction file for the payment.
• Updates accrual and cash-basis balances in general ledger accounts with the advance or reimbursement amount.

Type of entries	What Vantagepoint does
Accrual basis	Vantagepoint completes these actions: Debits the expense report payment amount to the employee expense credit account. Debits the advance account for advance amounts. Makes a credit entry to the bank account.
Cash basis	Vantagepoint completes these actions: Makes a debit entry to each expense account specified on the expense reports. Makes a debit entry for the advance amount. Makes a credit entry to the bank account. When the Enable Detailed Subledgers for Intercompany Billing option is selected in Settings > Accounting > Posting Accounts, for each intercompany transaction, Vantagepoint posts a debit for the payment amount to the cash basis suspense account. When the intercompany expense report is paid, Vantagepoint debits the original transaction expense account.