Employee Expenses

Use Employee Expenses to record travel and automobile expenses, or use whenever an employee needs to file an expense report.

Posting

When you post an employee expense transaction file, Vision makes the following entries for each expense detail line:

  • On the accrual basis general ledger balance sheet:

    • Debits the account specified in the expense detail line's transaction data entry file, for the expense amount.

    • Credits the account specified in the Employee Expense field on the Configuration > Accounting Company > Posting tab, for the expense amount.

  • Debits the account specified in the expense detail line's transaction data entry file, for the expense amount.

  • Credits the account specified in the Employee Expense field on the Configuration > Accounting Company > Posting tab, for the expense amount.

Vision makes no cash-basis entries in this scenario.

Posting Log

Use a posting log to view information about a batch of transactions. Vision produces a posting log each time that you post a transaction file.

In addition to the posting log, Vision generates a General Ledger summary for employee expenses. This report lists the general ledger accounts that were affected by the posting. The report shows the total amounts debited and credited to each account. If the Tax Auditing option in Configuration > Accounting is enabled, tax-related fields will also display on the report.

Multicompany

If you are using the Multicompany feature, you can modify or post only those transaction files owned by the active company.

Multicurrency

If you are using Vision Time and Expense and the amount being calculated is in the same currency as the payment currency, then employee expense posting uses the payment amount (rather than the result of a currency exchange based on the transaction amount). For example:

  • The transaction currency is EUR.

  • The payment currency is USD.

  • The project's functional, project. or billing currency is also USD.

Rather than perform a currency exchange from EUR to USD, Vision uses the payment amount.