Deltek Vantagepoint Help

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Checklist: Setting Up Detailed Subledgers

Detailed subledgers make it possible to generate intercompany invoices and accounts payable vouchers. Use the checklist to configure Intercompany Billing to use detailed subledgers.

Prerequisites: Before you start this checklist, complete the steps listed in Checklist: Setting Up Intercompany Billing.

Step Description
1 Select the Enable Detailed Subledgers for Intercompany Billing option in Settings > Accounting > Posting Accounts.
2 Confirm that you have available a liability code that is mapped to the Intercompany Accounts Payable account for the active company.
  • You establish the Intercompany Accounts Payable account in Settings > Accounting > Posting Accounts.
  • You map the account on the Liability Accounts tab in Settings > Cash Management > Accounts Payable.
3 Confirm that you have available a revenue account that is mapped to the Intercompany Accounts Receivable account for the active company.
  • You establish the Intercompany Accounts Receivable account in Settings > Accounting > Posting Accounts.
  • You map the account in the Invoice Mapping Accounts grid in Settings > Billing > Accounts Receivable.
4 Specify labor revenue and expense revenue accounts Settings > Accounting > Posting Accounts. Vantagepoint uses these accounts when you generate intercompany invoice transaction files.
5 In the Firms hub, create a special vendor record for each company to facilitate intercompany accounts payable vouchers. This vendor will represent the company that is being paid when generating intercompany accounts payable vouchers.

Example: A vendor, COMPANYA, assigned to company A will need to be set up for accounting for company B if an intercompany transaction exists where company A is the originating company. Company B will not be able to pay vendor COMPANYA unless that vendor has been set up for accounting in company B.

6 Specify the vendor for each company on the Subledger Vendors tab of Settings > Accounting > Intercompany Billing in the desktop application.
7 Create an intercompany invoice project and an intercompany AP voucher project to facilitate intercompany invoices and accounts payable vouchers.
8 Set up invoice terms between two companies. For each pair of companies that can generate intercompany invoices and accounts payable vouchers, you specify setup options for the transactions they will share. This is where you select the invoice project and the intercompany accounts payable voucher project, as well as the accounts, banks, and liability codes.
9 For tax codes that apply to intercompany billing transactions, specify the types of transactions to which each tax applies in Settings > Cash Management > Tax Codes.