Contents of the New File Dialog Box
Use these fields to create new files for accounts, timesheets, taxes, and journal entries as well as set up and manage your recurring transactions.
Fields
Field | Description |
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File Name | Enter the file name for the transaction. If you use multiple companies, transaction file names must be unique across the enterprise. |
Start Date | Specify the start date for the transaction file. |
End Date | Specify the end date for the transaction file. |
Currency | If you use multiple currencies, select the currency to use for the transaction file. This currency serves as the file's default currency. You can specify a different currency during transaction entry (either for a transaction record or, in the case of Employee Expenses, for an individual line item within a transaction record). |
Control Total |
Enter a control total amount for the transaction file. The control total is the total monetary amount that will be entered in this batch. For example, if entering a deposit with three transactions: 8000.00, 6000.00, and 4000.00, the control total would be 18000.00. Control totals are final totals for all of the information that you enter into a specific transaction file. Accountants also refer to this as a batch total. As you enter data, Vantagepoint keeps running totals for the data that you enter; these running totals should equal the control totals before you post the file. For example, you can calculate timesheet control totals by adding up all of the regular hours and overtime hours on all of the timesheets that you are about to enter. Vantagepoint uses the control totals to verify that the total amounts you enter during transaction entry are equal to the total amounts that you planned to enter. |
Control Totals Advance Amount | For employee expense transactions, enter the total monetary amount of employee expense advances that you will enter for all the expense transactions in this transaction file batch. |
Payment Method | This field applies for AP Disbursement transactions. The field is visible only if you have the Credit Card feature enabled (in
Available to AP check box selected for it.
Select one of the following options from the drop-down list:
|
) and you set up at least one primary credit card that has at least one secondary credit card (in
) with the
Default Liability | This field applies for AP Voucher transaction entries. Select the default liability code for the transaction file. The codes that are available in this list are created on the Liability Accounts tab of the Accounts Payable Settings form in | .
Default Bank | This field applies when you enter AP vouchers or AP disbursements. Select the default bank code to prefill in the
Bank field on the AP Vouchers form or the AP Disbursements form for each voucher or disbursement that you enter in the transaction file. You can change the prefilled bank as needed for any transaction that you enter. This is the bank from which the disbursement or voucher payment will be drawn.
This field is not enabled if you use the Credit Card feature and you selected Credit Card in the Payment Method field on this dialog box. |
Default Voucher Date | Select the default voucher date if you are entering a new transaction file for an AP voucher. |
Reg Hours | Enter the total number of regular hours for the transaction. You do not charge hours to an account, as all postings are automatic. |
Ovt Hours | Enter the total number of secondary overtime hours reported for the W-2 year and quarter. You do not charge hours to an account, as all postings are automatic. |
Ovt 2 Hours | Enter the total number of second overtime hours. In Labor Adjustment transaction entry and Timesheet transaction entry, you do not charge hours to an account. All postings are automatic.
This field is available only if you set Enable Secondary Overtime to Yes in . |
Reg Amount | Enter the total regular monetary amount of the adjustment for the transaction. |
Ovt Amount | Use this field to adjust the overtime amount posted to the cost rate for the labor item. |
Ovt-2 Amount | Use this field to adjust the second overtime amount posted to the cost rate for the labor item.
This field is available only if you set Enable Secondary Overtime to Yes in . |
Billing Ext | Enter the billing extension for the transaction. |
Realization Amt | Enter the monetary amount to include in an employee's realization calculation. This field displays only when you enter labor adjustments and only if the
Enable Reporting Realization by Employeeoption is selected in
.
If you use multiple currencies, the realization amount uses the currency that is entered as the billing currency for a project. |
Default Tax Code | This field displays only when you enter a new transaction file for invoices and the
Enable Tax Auditing Feature check box is selected in
.
After you enter a file name and file date on this dialog box, the Default Tax Code field prefills an input/output tax code with the lowest sequence number that is entered in the Default Tax Codes grid on the Tax Auditing tab in Accounting Company Settings. An input/output tax code has check boxes selected in both the Inputs section and Outputs section on the on the Tax Codes tab in . If no input/output tax is entered on the Tax Auditing tab, then no tax code prefills in the Default Tax Code field. The default tax code is used to calculate taxes for all the transactions that you enter in the invoice transaction file. You can override the prefilled tax code on this dialog box and replace it with another tax code or delete it and leave the field blank. On the Invoice form in Transaction Entry, you can override the default tax code from the New File dialog box that prefills in the Tax Code field. |
Allow Tax Entries | This check box applies for journal entries. It displays only if the
Enable Tax Auditing Feature check box is selected in
.
Select this check box to enable tax auditing related columns: Total Tax Debit, Total Tax Credit, and Tax Type on the journal entry form. |
Allow Asset Entries | This check box applies for Journal Entries and AP Voucher transaction types. It displays on this dialog box if you have the Asset Management application activated and the following configuration settings are selected:
You can select the Allow Asset Entries check box only if you do not select the Recurring check box on this dialog box. Journal Entries For Journal Entries, select the Allow Asset Entries check box if you want to associate an existing asset item from the Equipment hub with a journal entry. Vantagepoint adds an Equipment column to the grid on the Journal Entries form, in which you can enter the associated asset item. This relationship is recorded on the History register for the transaction. See the History tab in online help for more information. Transactions created through Depreciation Processing will automatically update this field. AP Vouchers For AP vouchers, select the Allow Asset Entries check box if you want to do either of the following:
When you select the check box, the following fields display in the AP vouchers grid on the AP Vouchers form, so you can create or associate asset items:
For more information about these fields, see their descriptions in the AP Vouchers Form help topic. When you post an AP voucher with asset item entries, the Equipment hub is automatically updated with a new asset item or an existing asset item is updated with the associated AP voucher line item. |
Diary | This field displays only if you have set up a diary for the fiscal period or fiscal year in which you are entering transactions in the Diary Auto Numbering Options section of the Transaction Settings form in
Use this field to select a diary code for the current transaction or the group of transactions if you are processing a group of transactions, such as in a vendor payment run. The diaries are used to generate diary reports that contain a set of sequentially numbered transactions that have been posted to the general ledger during the fiscal year or to specific fiscal periods. You can assign different diaries (that have different diary types) to different types of transactions. The Diary drop-down list contains three columns. The first column displays the diary code. The second and third columns display the diary type for the diary code and the description of the diary type. The drop-down list contains all the diaries that you set up on the Diary Auto Numbering Options section in Transactions Settings that have the same fiscal period or fiscal year in which you are entering transactions or that have no fiscal period or year entered for them. If you have multiple companies in Vantagepoint, the Diary field drop-down list includes only the diary codes that are set up for the current company. The list also includes IC - Intercompany Diary to capture intercompany transactions. You cannot delete a transaction after it has been saved with a diary number. If a transaction is incorrect, you can enter zero amounts for the transaction or enter a reversing transaction. |
.
Diary Number | This field prefills with an auto-generated number when you save a transaction. The diary numbers tie the specific transactions to debit and credit entries that are posted to the general ledger for the purpose of producing diary reports. The auto numbering ensures that the diary numbers are sequential, based on the order that transactions are posted.
The next number to use for a diary is specified in the Next Diary Number field in the Diaries grid, in the Diary Auto Numbering Options section of the Transaction Settings form in . |
Recurring | Select this check box if the transaction you want to enter is recurring. If the
Allow Asset Entries check box displays on this dialog box, you can select the
Recurring check box only if you do not select the
Allow Asset Entries check box.
If you have transactions that occur each accounting period with little or no difference in content, then you can create recurring transaction files to help speed your transaction entry for these items each month. Recurring transaction files do not get deleted after they are posted. After a recurring file is posted, you can select the file in transaction entry and "resubmit" it to make it available again for posting. Also, you can "change" the dates, "reverse" the amounts, or modify it just like any other transaction. You can create recurring transaction files for the following transaction types: Accounts Payable, Cash Receipts, Cash Disbursements, Employee Expenses, Journal Entries, Miscellaneous Expenses, and Prints and Reproductions. |
Recurrence Fields
- To schedule the frequency of the recurrence, select the Manage Recurring check box and complete the associated fields.
- If the transaction requires automatic reversal, select the Reverse On check box and complete the associated fields, including the date for the reversal.
Field | Description | ||||||||
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Clear Amounts After Posting | This check box is enabled when you select the Recurring option. Select this option when the amounts of the recurring entries change for each recurrence. Clearing the amounts after posting will clear all amounts within the transaction file. For example, this is useful when a payroll journal entry's amount changes each month. It will clear the amounts after they are posted, but will maintain the projects and general ledger accounts of the actual recurring file. | ||||||||
Manage Recurring | Select this check box to schedule the frequency of the recurring journal entry. This activates the fields in this section, which work together to create the recurring entries.
When you select this option, the following fields are enabled:
For example, in the following scenario:
The recurring entry will occur on August 6, September 6, and October 6. You cannot schedule a recurring journal entry with a frequency and number of occurrences and also define the file to reverse. |
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Reverse On | Select this check box to create a reversing entry for the transaction on a specific date. The fields in this section work together to reverse the transaction.
When you select this option, the following fields are enabled:
For example, you create a journal entry for Salaries Payable accrual at the end of each month. This transaction will need to be reversed at the beginning of the new accounting period, so you select the Reverse On option and specify the date in the next accounting period. But you must review the new transaction prior to posting, so you do not select Schedule Posting. When you post the transaction, the new reversing transaction is automatically created and is available to review and post. |
Default Taxes Grid
This grid displays on this dialog box when you enter a new transaction file for accounts payable vouchers, accounts payable disbursements, cash disbursements, and expense reports if the Enable Tax Auditing Feature check box is selected on the Tax Auditing tab in .
The default tax codes are used to calculate taxes for all the transactions that you enter in the transaction file.
The grid prefills with the default tax codes that are entered on the Tax Auditing tab in Accounting Company Settings.
For accounts payable vouchers and accounts payable disbursements, if a vendor has a default tax code entered for it in the Firms hub, then the vendor's default tax code overrides the default tax code that has the first (or lowest) sequence number on the New File dialog box. Example: A vendor's default code entered in the Firms hub is XXX. The default tax codes that are entered on the Tax Auditing tab in Accounting Company Settings that prefill on the New File dialog box are AAA (with sequence 5), BBB (with sequence 30), and CCC (with sequence 45). Tax code XXX from the vendor record will override tax code AAA when accounts payable vouchers and disbursements are entered in the Transaction Center for that particular vendor. The tax codes that are used for the transactions for that vendor are XXX, BBB, and CCC.
In the Default Taxes grid, you can override the default tax codes by adding other tax codes or deleting some or all of the tax codes.
For any individual transaction in the transaction file, you can override the taxes that have been automatically calculated with the default tax codes by clicking the amount in the Total Tax Amount field on the transaction entry form. This opens the Tax Codes dialog box where you can add, remove, or change the tax amounts.
Field | Description |
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Click this grid toolbar option to insert a new blank row into the grid and add a default tax code. |
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Click this grid toolbar option to remove a default tax code from the grid. |
Tax Code | From the drop-down list in this field, select a tax code. This list includes the tax codes that have been set up in Transaction Entry check box selected in the Inputs section on the Tax Codes tab. | with an Active status and with the
Description | This displays the description of the tax code that you entered in the Tax Code field. |