Set Up Default Accounts

You can set up default accounts that receive automatic postings for your company. If you use multiple companies, you also set up intercompany accounts to facilitate transactions between the companies within your enterprise.

To set up default accounts:

  1. In the Navigation pane, select Settings > Accounting > Posting Accounts.
  2. Complete the following fields in the Foreign Labor Type Labor Posting Accounts section of the Posting Accounts settings form:
    • Direct Account: Select a direct expense account. Vantagepoint credits direct labor charges to this account when you post timesheets or labor adjustments that reference a foreign labor type.
    • Indirect Account:: Select an indirect expense account. Vantagepoint credits indirect labor charges to this account when you post timesheets or labor adjustments that reference a foreign labor type.
  3. Click Save.