Field | Description |
Description
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Enter a description for the cash receipt item.
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Invoice
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Click in this field and then click
Search to select an invoice from the Invoice lookup for which to apply the cash receipt.
If you use Intercompany Billing in conjunction with the detailed subledgers feature to generate intercompany invoices and you use this field to specify an intercompany invoice, Vision automatically prefills the
Account field for this cash receipt transaction with your firm's Intercompany Accounts Receivable account.
If you use the Pre-Invoice feature, you can enter an invoice in the
Invoice field or a pre-invoice in the
Pre-Invoice field for a cash receipt, but not both.
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Project
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When you enter an invoice in the
Invoice field, this field prefills with the project that is associated with the invoice. Alternatively, you can leave the
Invoice field blank, select a project from the Project lookup in this field, and then use the Invoice lookup in the
Invoice field to select from a list of invoices specific to the project that you entered in the
Project field.
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Pre-Invoice
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This field displays if either of the following are true:
- The
Enable Pre-Invoices check box is selected on the Miscellaneous tab in
for the active company.
- You have multiple companies in Vision, the
Enable Pre-Invoices check box is selected for at least one other company in General Billing Configuration, and your security role has the
Allow cash receipts for other companies option enabled on the Accounting tab in Roles Security.
This field is enabled only after you enter a project in the
Project field.
Use the Pre-Invoice lookup in this field to select the pre-invoice that a client is paying with this receipt. Or, enter a pre-invoice number directly in this field. You can enter an invoice in the
Invoice field or a pre-invoice in the
Pre-Invoice field for a cash receipt, but not both.
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Phase
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If you use phases (WBS2):
- For a cash receipt for a regular invoice, this field prefills with the phase that is associated with the invoice's project. You can override the prefilled phase.
- For a cash receipt that is for a pre-invoice, this field prefills with the phase that is entered in
Phase to Post field on the Pre-Invoice tab in Billing Terms for a project. You cannot override the prefilled phase.
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Task
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If you use tasks (WBS3):
- For a cash receipt for a regular invoice, this field prefills with the task for the phase that is associated with the invoice's project. You can override the prefilled task.
- For a cash receipt that is for a pre-invoice, this field prefills with the phase that is entered in the
Task to Post field on the Pre-Invoice tab in Billing Terms for a project. You cannot override the prefilled task.
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Tax Code
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This field displays only if the
Enable Tax Auditing Feature check box is selected on the Tax Auditing tab ().
From the drop-down list, select the tax code for the cash receipt. The list displays tax codes that have been set up in Taxes Configuration as output taxes with an active status. An output tax has at least one check box selected in the Outputs section of the Tax Codes tab in
.
If the invoice that you selected in the
Invoice field in this grid contains a tax item, the tax code for that item prefills in the
Tax Code field even if the tax's status has been changed to inactive and it is no longer an output tax. In this scenario, if the tax no longer has a general ledger account entered for it in Taxes Configuration, you cannot post the cash receipt. You must add an account in the
Account field for the tax code, and then post the cash receipt transaction file.
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Account
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This field prefills with the account (usually an accounts receivable account) that will be credited when you post a cash receipt transaction entry file. When you enter an invoice in the
Invoice field in this grid, the
Account field prefills with the accounts receivable account that is mapped to an invoice account entered for the active company on the Invoice Mapping Accounts tab in
. If no accounts receivable account is mapped, the
Account field prefills with the accounts receivable account that is entered for your company in the Company Accounts section of the Accounts tab in
.
When you enter an intercompany invoice in the
Invoice field, the
Account field prefills with the intercompany accounts receivable account for your firm that is entered in the Intercompany Accounts section of the Accounts tab in
.
When you enter a pre-invoice in the
Pre-Invoice field, the
Account field prefills with the account that is entered in the
Pre-Invoice Receipt Offset field on the Miscellaneous tab in
. If you enter a partial cash receipt for the pre-invoice and then change the account when you enter another partial cash receipt, when the pre-invoice is applied to a regular invoice, the full amount paid will be debited to the last credit account used.
You can override the account in this field, but it is not recommended.
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Receipt Amount
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This field prefills with the amount of the invoice or pre-invoice that you selected in the
Invoice or
Pre-Invoice field in this grid.
If you do not enter an invoice, then enter the amount of the cash receipt directly in the
Receipt Amount field.
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Exchange Override Rate
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If you use the Multicurrency feature, you can use this field to override the exchange rate for a single line item.
Vision stores each transaction amount that you enter in the currency that you selected on the New File dialog box. Vision also stores the amount in the functional currency of the company that owns (via organization structure) the project, phase, or task charged for the transaction. If the transaction currency and functional currency differ, Vision uses the daily exchange rates that you establish in Configuration to calculate the amount in the functional currency. Usually, a transaction is recorded using the exchange rate in effect on the date the transaction took place, unless you specify an override in this field.
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Tax Basis
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This field displays only if the
Enable Tax Auditing Feature check box is selected on the Tax Auditing tab in
. The amount in the
Tax Basis field prefills, based on the entry that you make in the
Tax Code field and the
Receipt Amount field. You can override the prefilled entry and enter a different tax basis.
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Source Currency Code
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For invoice receipts, this is the billing currency specified on the invoice.
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Source Balance
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For invoice receipts, this is the outstanding balance of the invoice.
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Source Relief
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For invoice receipts, this is the amount in the source currency that will be applied to the balance of the invoice. If the receipt currency is the same as the source currency, then this field is read-only. For non-invoice receipts, this field is blank (and read-only).
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Interest
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Select this check box if the client is paying off an interest charge. This option is available only if a revenue account is entered in the
Account field.
This check box is not enabled when you enter a pre-invoice in the
Pre-Invoice field in this grid.
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Retainer
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Select this check box if the line item is a retainer amount. A retainer is an advance amount collected from a client prior to work beginning on a project. The amount of the retainer is typically stipulated in the client's contract.
This check box is not enabled when you enter a pre-invoice in the
Pre-Invoice field in this grid.
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Due From Company
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Vision enables this field if you are using the Multicompany feature and an Intercompany Account is selected in the
Account field. Use this drop-down list to select the company from which the account balance is due. The drop-down lists all companies other than the company that owns the project/phase/task.
If you are also using the Intercompany Billing feature, within Multicompany, it is possible for your company to generate intercompany invoices and Accounts Payable vouchers. In this case, the
Due From Company field is filled in with the name of the company from which the balance is due. You must also enter a Due From company on any record associated with an
Account defined in the Intercompany Billing feature.
- This field is required when you select an account that is defined as a journal entry account or transfer cost account in Intercompany Billing.
- This field is available but not required when you enter an account associated with a tax code defined in Intercompany Billing.
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