Transaction Types and Automatic Postings

Vision's Transaction Center has two types of entries that can occur as either debit or credit entries, implicit and explicit entries.

• Implicit postings are implied entries that are made as a result of system setup and configuration. The implicit entries help to streamline the transaction entry process by eliminating the must enter redundant detail. An example of an implicit entry is the debit entry for a cash receipt: the debit always goes to the cash account, which has been implied by the selected bank code in the New File screen.

• Explicit entries are populated during the transaction entry process. An example of an explicit entry is the debit side of an accounts payable voucher: the debit entry differs greatly from vendor or voucher, so the debit side is explicitly entered in transaction entry.

Transaction Type	Debit	Credit
Timesheets and labor adjustments	When you post employee timesheets, labor charges for each employee are debited (by employee type) to the labor accounts specified on the Accounting tab of the Employee Types form (in Accounting Configuration).	Labor charges for each employee are credited to the Job Cost Variance account (703.00).
Accounts Payable	Typically an expense account entered explicitly on the accounts payable form.	Accounts payable liability account specified on the Liability Codes tab of Company AP Configuration (implicit).
Cash or A/P Disbursements	Typically an expense account entered explicitly.	Cash account as mapped on the Bank Codes tab of Accounting Configuration.
Cash Receipts	Cash accounts as mapped by the bank code (implicit).	Typically, the accounts receivable account will default when you use the invoice lookup feature in cash receipt transaction entry.
Journal Entries	Entered explicitly in journal entry transaction entry.	Entered explicitly in journal entry transaction entry.
Units	Expense account entered in Unit Info Center for the specific unit and project type. If necessary, the debit account can be overridden in unit transaction entry.	Credit account entered in Unit Info Center for the specific unit.
Invoices	Accounts Receivable is implicitly debited because of the invoice mapping setup. If your firm uses Revenue Recognition, implicit postings are also made to debit Unbilled Revenue and credit Unbilled Services.	Revenue accounts are defaulted from accounts selected on the Invoice Mapping Accounts tab of Accounts Receivable Configuration, but you can modify them if necessary.
Employee Expenses and Repayments	Expense account entered on transaction form.	Implicit accounts as specified in the Employee Expense Credit account on the Posting tab of Accounting Company Configuration.
Miscellaneous Expenses	Expense account entered explicitly on transaction form (usually a reimbursable account).	Implicit accounts as specified in the Miscellaneous Expense Credit account on the Posting tab of Accounting Company Configuration.
Prints and Reproduction Expenses	Expense account entered explicitly on transaction form (usually a reimbursable account).	Implicit accounts as specified in the Reproductions Expense Credit account on the Posting tab of Accounting Company Configuration.