Accounts Tab of Accounting Company Settings

Use the Accounts tab to set up company accounts that receive automatic postings. If you use the Multicompany feature, you also set up intercompany accounts to facilitate transactions between the companies within your enterprise.

Company Accounts

Field	Description
Accounts Receivable	Enter the account to which to post accounts receivable amounts. You can enter an account directly in this field or click in this field and select an account on the Account lookup. This account is used when invoices are posted and an accounts receivable account is not mapped to an invoice account on the Invoice Mapping Accounts tab in Configuration > Accounting > Accounts Receivable. The default for this field is account 111.00 - AR Clients from the Standard Chart of Accounts. If you modify it, make sure that the new account has been set up in the Account Info Center.
Current Years P&L	Enter the account to which to post this year’s profit and loss amount. You can enter an account directly in this field, or click in this field, and select an account with Account Lookup. Each time you print a Balance Sheet, Vision displays the current year’s profit or loss amount from the Income Statement next to the Current Year’s Profit and Loss account in the Net Worth section. You cannot post to this account; Vision calculates the balance for this account automatically. The default for this field is account 312.00 - Current Yrs Profit(Loss) from the Standard Chart of Accounts. Deltek recommends that you do not modify this account number. However, if you modify it, make sure that the new account has been set up in the Account Info Center.
Prior Year Retained Earnings	Enter the account to which to post the prior year's retained earnings. You can enter an account directly in this field, or click in this field and select an account on the Account Lookup. Vision does not post profit or loss to the balance sheet until you initialize your files for a new year, at which time Vision posts to the Prior Years’ Retained Earnings account. You should not post to this account; Vision calculates the balance automatically. The default for this field is account 311.00 - Prev Yrs Retained Earngs from the Standard Chart of Accounts. Deltek recommends that you do not modify this account number. However, if you modify it, make sure that the new account has been set up in the Account Info Center.

Field

Description

Accounts Receivable

Enter the account to which to post accounts receivable amounts. You can enter an account directly in this field or click

in this field and select an account on the Account lookup.

This account is used when invoices are posted and an accounts receivable account is not mapped to an invoice account on the Invoice Mapping Accounts tab in Configuration > Accounting > Accounts Receivable.

The default for this field is account 111.00 - AR Clients from the Standard Chart of Accounts. If you modify it, make sure that the new account has been set up in the Account Info Center.

Current Years P&L

Enter the account to which to post this year’s profit and loss amount. You can enter an account directly in this field, or click

in this field, and select an account with Account Lookup.

Each time you print a Balance Sheet, Vision displays the current year’s profit or loss amount from the Income Statement next to the Current Year’s Profit and Loss account in the Net Worth section. You cannot post to this account; Vision calculates the balance for this account automatically.

The default for this field is account 312.00 - Current Yrs Profit(Loss) from the Standard Chart of Accounts. Deltek recommends that you do not modify this account number. However, if you modify it, make sure that the new account has been set up in the Account Info Center.

Prior Year Retained Earnings

Enter the account to which to post the prior year's retained earnings. You can enter an account directly in this field, or click

in this field and select an account on the Account Lookup.

Vision does not post profit or loss to the balance sheet until you initialize your files for a new year, at which time Vision posts to the Prior Years’ Retained Earnings account. You should not post to this account; Vision calculates the balance automatically.

The default for this field is account 311.00 - Prev Yrs Retained Earngs from the Standard Chart of Accounts. Deltek recommends that you do not modify this account number. However, if you modify it, make sure that the new account has been set up in the Account Info Center.

Check Box

Field	Description
Do not allow Account Name Changes	Select this check box to prevent users from changing the name of a general ledger account in Info Center > Accounts > Chart of Accounts after a transaction (posted or unposted) has been created for the account.

Intercompany Accounts (for Multicompany)

Field	Description
Accounts Receivable	Select an asset account. Vision debits this account when you process invoices for intercompany billing. If you modify this account after you enter Labor Revenue and Expense Revenue accounts, the accounts in these two fields are removed because Intercompany Billing requires that they be mapped to the company's intercompany Accounts Receivable account on the Invoice Mapping tab of Configuration > Accounting > Accounts Receivable.
Accounts Payable	Select a liability account. Vision debits this account when you post vouchers for an intercompany transaction. If you selected the Enable detailed subledgers for Intercompany Billing check box on the General tab in Configuration > Accounting > System Settings, then the accounts payable account that you select here should match the accounts payable account referenced by the AP Liability code entered on the Subledger Terms tab of Intercompany Billing Setup.
Suspense	Select a balance sheet account. When a transaction involves another company, some time elapses between the transaction's posting and its settlement through Intercompany Billing. Vision uses an intercompany suspense account to prevent balance sheet tolerances until you next run Intercompany Billing. When you run Intercompany Billing, it creates the appropriate accounts receivable and accounts payable entries, clears this suspense account, and redistributes the credit amount to the appropriate company.
Labor Revenue	This field displays when the Enable detailed subledgers for Intercompany Billing check box is selected on the General tab in Configuration > Accounting > System Settings. Use this field to specify the labor revenue account that Vision uses when intercompany invoice transaction files for this company is generated. The account that you specify here must already be mapped to the company's intercompany AR Account column on the Invoice Mapping tab in Configuration > Accounting > Accounts Receivable.
Expense Revenue	This field displays when the Enable detailed subledgers for Intercompany Billing check box is selected on the General tab in Configuration > Accounting > System Settings. Use this field to specify the labor expense account that Vision uses when intercompany invoice transaction files for this company are generated. The account that you specify here must already be mapped to the company's intercompany AR Account column on the Invoice Mapping tab in Configuration > Accounting > Accounts Receivable.
Intercompany Cash Basis Suspense	You can access this field only if you have cash-basis reporting enabled and you use detailed subledgers for intercompany billing. Enter the account to which you want to post the balance that results from intercompany billing markups. This account applies only to cash-basis reporting when you use detailed subledgers. You can enter any account in this field. However, Deltek recommends that you enter an indirect expense account because a balance can remain in the account. This cash-basis account is used on both the originating company's financial statement and the project’s financial statement. This account is primarily used by the Intercompany Billing application for the cash receipt of the intercompany invoice and any markup on paid expenses. In addition, this account is used during payment of any intercompany expenses, which includes accounts payable and employee expense payments, accounts payable disbursements, and cash disbursements. This account should not have an accrual balance. You must also map the Intercompany Cash Basis Suspense account as the cash-basis account for the intercompany AR account in the Accounts Info Center (Chart of Accounts). With this mapping, cash receipts for intercompany invoices post to the Intercompany Cash Basis Suspense account, which corrects the entries for cash-basis reporting. (When you enter an intercompany cash receipt, you reference an invoice and the intercompany AR account.) If you do not map the Intercompany Cash Basis Suspense account as the cash-basis account for the intercompany AR account, a balance remains in the intercompany AR account, and you must do a journal entry to move it manually.

Foreign Employee Type Labor Posting Accounts

Field	Description
Direct Account	Select a direct expense account. Vision credits direct labor charges to this account when you post timesheets or labor adjustments that reference a foreign employee type.
Indirect Account	Select an indirect expense account. Vision credits indirect labor charges to this account when you post timesheets or labor adjustments that references a foreign employee type.

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