Processing Cycle Overview

A processing cycle is a period of time during which transactions are entered, processed, and posted in Vision. Each cycle follows a regular sequence.

A processing cycle can refer to the sequence of transactions that you perform to complete a specific process (timesheets) or a series of processes (timesheets, payroll, billing) over a specified period of time.

At the end of the cycle, you can generate various reports from the transaction data posted during the cycle.

Typically, processing cycles are based on your firm's accounting periods. The order in which you process various types of data within an accounting period depends on your firm's timesheet/payroll processing periods, billing cycles, and reporting needs.

Related Topics:

  • Accounting Periods and Processing Cycles
    An accounting period is a consistent unit of time that is used to record business activities and monitor profits. It provides a framework for measuring business activity and evaluating your firm's financial position.
  • Transaction Processing
    During the course of a typical accounting period, your firm processes a variety of transactions that allow you to track and bill project expenses, process timesheets and generate paychecks, pay accounts due, allocate overhead, and generate revenue.
  • Transaction Posting
    Use the Transaction Center to post transaction files to your database. When you post transaction files in Vision, two types of posting activities are processed: explicit postings and implicit postings. Both posting types affect your general ledger accounts.
  • Reporting and Processing
    Reporting offers reports that let you review and verify data during the processing cycle and print final reports at the end of the cycle.
  • Backing Up Your Database
    Backing up your database may be the most important maintenance task that you perform during a normal processing cycle. Maintaining a routine of daily (or even more frequent) database backups can minimize the need to re-enter data lost due to unforeseen database corruption.
  • Checklist: Monthly Processing Cycle
    Most firms follow the same general steps during the monthly processing cycle.
Parent Topic: Concepts Overview