Posting to Below the Line Accounts
In some cases, your company may need to post an invoice to an account outside your normal operations or a "below the line" account, typically an 800 level account.
The Billing portion of Vision was set up to handle only regular revenue, which would typically be the 400 level revenue accounts. Because of this, you may have trouble posting to below the line accounts.
The following example shows one way you can post revenue to a below the line account:
Scenario
Your company owns and rents several buildings outside your normal operations. To accommodate this setup, you do the following:
- Set up a project for each rental property.
- Set up an 800 level income account to record revenue.
- Set up a "Revenue Clearing Account", for example 499.
- Set up a unit for each of the building's rent, associating each with the Revenue Clearing Account created in step 2.
- Insert a unit transaction for the rental revenue from Interactive Billing to record the item for billing.
- Run the invoice.
- Post the revenue to the Revenue Clearing Account created in step 2.
- Enter a journal entry to transfer the accumulated balance of the Revenue Clearing Account to the 800 level account. This creates a zero balance in the Revenue Clearing account, and leave a credit balance in the below the line revenue account.