When you post payments for employee expenses, Vision updates the employee ledger, updates accounts, and updates check and transaction files.
During the posting routine, Vision:
- Updates the employee ledger with the advance/reimbursement amount.
- For any advance amounts applied to expense amounts, debits the expense account and credits the advance account.
- Updates the check file to include a record for each check or employee credit.
- Updates the bank transaction file for the payment.
- Updates accrual and cash-basis balances in general ledger accounts with the advance or reimbursement amount.
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Accrual basis entries
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Vision completes these actions:
- Debits the expense report payment amount to the employee expense credit account.
- Debits the advance account for advance amounts.
- Makes a credit entry to the bank account.
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Cash basis entries
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Vision completes these actions:
- Makes a debit entry to each expense account specified on the expense reports.
- Makes a debit entry for the advance amount.
- Makes a credit entry to the bank account.
- When the
Enable detailed subledgers for intercompany billing option is selected in
, for each intercompany transaction, Vision posts a debit for the payment amount to the cash basis suspense account. When the intercompany expense report is paid, Vision debits the original transaction expense account.
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