Transaction Entry Overview

In Transaction Entry, you create transaction files and the records within them, modify the contents of existing transaction files, set control totals, and establish recurring transactions. You can also delete transaction files, if needed, and unlock locked transaction files.

Multicompany

If your firm uses the Multicompany feature, it is important to understand the following:

  • The company that you select at login, or when you switch to a different company, is the active company. All transactions that you create while logged in to this company will belong to this company. You can modify or post only those transaction files owned by the active company.

    For Timesheet, Labor Adjustment, Expense Report, and Expense Payment transactions, only employees that are associated with the active company are available for entry.

  • Your role's security access rights impact the types of transactions that you can enter. The role must have access to enter the selected transaction type for the active company. If the active company does not have access to enter transactions, Vision alerts you. Contact your system administrator for more information.

Multicurrency

If your firm uses the Multicurrency feature, Vision stores each transaction amount you enter in the currency that you select in Transaction Entry. This is the transaction currency.

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 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.

If you must override this exchange, you can:

  • Override the exchange rate for a full transaction.

  • Override the exchange rate for a single line item.

In addition, Vision stores transaction amounts in the project currency and billing currency for the project, phase, or task charged for the transaction.

Concepts

For related background materials, see the discussions about transaction entry and posting, and the processing cycle concepts, in the Concepts section of the help.

Related Topics:

  • Process Overview for Transaction Entry
    Use Transaction Entry to create new transaction files or open existing files, depending on your system configuration and security access rights.
  • Originating Vendors
    For line items that you enter for employee expense reports, accounts payable vouchers, and accounts payable disbursements, you can enter an originating vendor (if appropriate), in addition to the actual employee or vendor who is getting directly paid.
  • Transaction Entry Form
    Before you open a transaction file on the Transaction Entry form, you see a standard set of toolbar options and a set of common fields.
  • AP Disbursements
    When you enter Accounts Payable (AP) Disbursements, you simultaneously enter a manual payment and an Accounts Payable voucher for the vendors in your database.
  • AP Vouchers
    You can enter or modify accounts payable vouchers for the vendors in your database. You can enter new vouchers with one or more detail lines, and you can also modify amounts on previously entered and posted vouchers.
  • Cash Disbursements
    Use Cash Disbursements if you do not want to record a voucher or update vendor history with a transaction. You can also use Cash Disbursements to produce an accounts payable check manually; however, when you enter a manual check, you will not have an accounts payable history and cannot use a miscellaneous vendor.
  • Cash Receipts
    Use Cash Receipts to record the individual receipts that make up one deposit. Each deposit can consist of many receipts.
  • Employee Expenses
    Use Employee Expenses to record travel and automobile expenses, or use whenever an employee needs to file an expense report.
  • Employee Repayments
    Use Employee Repayments to record repayments for travel and automobile expenses, or whenever an employee needs to file a repayment report.
  • Invoices
    Use Invoices to create invoices to send to your clients. If you also use Vision Billing, Vision automatically creates an invoice file.
  • Journal Entries
    Use Journal Entries to record salaries, withholdings, bonuses, or accruals. You can also perform reclassifications and reallocate account activity.
  • Labor Adjustments
    Use Labor Adjustments to make changes to labor detail while keeping a tight audit trail on the changes.
  • Miscellaneous Expenses
    Use Miscellaneous Expenses to charge expenses that do not fit into one of the other transaction entry types to your projects, and to distribute overhead costs to projects.
  • Prints and Reproductions
    Use Prints and Reproductions to record costs for photocopying, blueprints, and other printing expenses.
  • Timesheets
    Use Timesheets as the basis for all labor costing and billing in Vision. Usually, timesheets are entered at the same frequency as payroll, such as weekly or monthly. To be able to generate accurate and up-to-date costing reports, you can enter timesheets more often.
  • Units
    Use Units to bill labor and expense charges as unit transactions.
  • Units by Project
    Use Units by Project to enter units for a single project or for multiple projects.
Parent Topic: Transaction Center Overview