Accounting History
Unlike project history, which is optional, you must enter a certain amount of accounting history for Vision to operate correctly. For example, if you do not enter account balances, Vision cannot begin to generate a meaningful Balance Sheet or Income Statement.
At a minimum, you should enter the following accounting history before you begin processing transactions in Vision (or shortly thereafter).
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Enter account balances in . This will allow you to reconcile your Balance Sheet with your accounts receivable and accounts payable sub-ledgers.
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Enter accounts receivable history in . This will allow you to enter cash receipts against outstanding invoices.
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Enter accounts payable history in . This will allow you to pay vendors for outstanding vouchers.
When deciding how much accounting history to enter, you should also consider the following:
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If you do not enter full invoice and receipt history, you will not have a complete Accounts Receivable Ledger or job-to-date amounts on the Office Earnings report, and Vision may not have sufficient data to run Revenue Generation.
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If you do not enter full accounts payable voucher history, you will not have a complete Accounts Payable Voucher report.