Contents of the Posting Accounts Setting Form

You enable detailed subledgers and specify intercompany accounts on this form.

Global Posting Account Options

Field

Description

Enable Detailed Subledgers for Intercompany Billing

If your firm uses multiple companies, select Yes to enable the detailed subledgers feature, which makes it possible to generate accounts receivable and accounts payable transactions in Intercompany Billing. This enables the following items: The Labor Revenue and Expense Revenue fields on this form. The Subledger Vendors and Subledger Terms tabs in Settings > Accounting > Intercompany Billing in the desktop application. The Accounts Receivable reporting features. The ability to create actual invoices and vouchers between companies and have these transactions display on accounts receivable and accounts payable reports.

Company Accounts

Field	Description
Accounts Receivable	Enter or select the account to which to post accounts receivable amounts. This account is used when invoices are posted and an accounts receivable account is not mapped to an invoice account in the Invoice Mapping Accounts grid in Settings > Billing > Accounts Receivable. The default for this field is account 111.00 - AR Clients in the standard chart of accounts. If you modify it, make sure that the new account has been set up in Settings > General Ledger > Chart of Accounts.
Current Year P & L	Enter or select the account to which to post this year’s profit and loss amount. Each time that you print a balance sheet, Vantagepoint 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; Vantagepoint calculates the balance for this account automatically. The default for this field is account 312.00 - Current Yrs Profit (Loss) in the standard chart of accounts. You should not modify this account number. If you do modify it, make sure that the new account has been set up in Settings > General Ledger > Chart of Accounts.
Prior Year Retained Earnings	Enter or select the account to which to post the prior year's retained earnings. Vantagepoint does not post profit or loss to the balance sheet until you initialize your files for a new year, at which time it posts to the Prior Years’ Retained Earnings account. You should not post to this account; Vantagepoint calculates the balance for this account automatically. The default for this field is account 311.00 - Prev Yrs Retained Earnings in the standard chart of accounts. You should not modify this account number. If you do modify it, make sure that the new account has been set up in Settings > General Ledger > Chart of Accounts.
Do not allow Account Name Changes	Select this check box to prevent users from changing the name of a general ledger account in Settings > General Ledger > Chart of Accounts after a transaction (posted or unposted) has been created for the account.

Debits and Credits by Organization

Use the Organization debits and credits fields to determine the debits and credits that you want to distribute by organization. If you do not want payroll liability credits distributed by an organization, you can select the payroll liability organization that you want.

Field	Description
Type	Select the row that contains the type of debit or credit that you want to post. Labor: Use this row to post labor distribution credits to an indirect account or to the balance sheet account. Miscellaneous Expense: Use this row to post miscellaneous expense distribution credits to an indirect account or to the balance sheet account. Reproductions Expense: Use this row to post reproduction expense distribution credits to an indirect account or to the balance sheet account. Consultant Accrual Expense: Select this row to post consultant accrual expense distribution credits to an indirect account or to the balance sheet account. Unit Expense: Select this row to post unit expense distribution credits to an indirect account or to the balance sheet account. When this check box is selected, the default organization is credited if the unit billing credit account is a balance sheet or non-operating expense, and you do not maintain separate balance sheets. When this row is not selected, the credit goes to one of the following places: The organization of the costing credit project in Unit Table Settings The default organization, if the cost account is a balance sheet account and you do not maintain separate balance sheets The Unit Credit account may vary from unit to unit. You specify the Unit Credit project in one of the following places, depending on whether or not you want to show the amount for the Unit Credit account for each organization or as a total amount for all organizations combined: In Unit Table Settings, in the Credit project field In Individual Organization Settings, in the Unit Credit project fields Employee Expense and Employee Advance Distribution: Select this row to post employee expense and advance distribution credits to an indirect account or to the balance sheet account. This field displays only if the Employee Expense application is enabled. Do not select any of these rows if you post the credit to a balance sheet account and you use a consolidated balance sheet.
Account	Select the account to which the debit or credit will be distributed for the organization. If you use multiple companies, only those accounts that belong to the active company display in the Account lookup list.
Distribute	Select this option to distribute the debit or credit by organization. If this option is not selected, the Project, Phase, and Task fields are enabled.
Project	Enter or select the project to which the debit or credit will be distributed for the organization. If you use multiple companies, only projects that belong to the active company display in the Project lookup list.
Phase	If a project has phases, enter or select the phase to which you want the debit or credit to be distributed. The rules about organizations and separate balance sheets for the Project field also apply to phases.
Task	If a phase has tasks, enter or select the task to which you want realized and unrealized gain and loss entries posted for the account that you entered in this row. The rules about organizations and separate balance sheets for the Project field also apply to tasks.

Intercompany Accounts

Field	Description
Accounts Receivable	Enter or select an asset account to be debited 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 in the Invoice Mapping Accounts grid in Settings > Billing > Accounts Receivable.
Accounts Payable	Enter or select a liability account. Vantagepoint debits this account when you post vouchers for an intercompany transaction. If you selected the Enable Detailed Subledgers for Intercompany Billing option above, 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, Settings > Accounting > Intercompany Billing in the desktop application.
Suspense	Enter or 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. Vantagepoint 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 option is selected. Use this field to specify the labor revenue account that Vantagepoint uses when intercompany invoice transaction files are generated for this company. The account that you specify here must already be mapped to the company's intercompany AR Account column in Settings > Billing > Accounts Receivable.
Expense Revenue	This field displays when the Enable Detailed Subledgers for Intercompany Billing check box is selected. Use this field to specify the labor expense account that Vantagepoint uses when intercompany invoice transaction files are generated for this company. The account that you specify here must already be mapped to the company's intercompany AR Account column in Settings > Billing > 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 or select 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, you should 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 used primarily by the intercompany billing process to track 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 Settings > General Ledger > 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 do this mapping, a balance remains in the intercompany AR account, and you must use a journal entry to move it manually.

Gains, Losses and Revaluations Section: Realized and Unrealized Gain and Loss Fields

These fields apply when Vantagepoint calculates and posts realized and unrealized gains and losses when you do either of the following:

• Process payments or post cash receipts for foreign currency accounts payable or accounts receivable transactions.
• Run the Gains/Losses and Revaluation process, which calculates gains and losses for:
  • Foreign-currency accounts payable and accounts receivable transactions that are unpaid.
  • Foreign-denominated general ledger accounts.

Account Hierarchy

If you enter an account for the Revaluation Gain or Revaluation Loss, or for both fields for foreign-denominated general ledger accounts, then unrealized gains and losses post to those accounts during the Gains/Losses and Revaluation process instead of posting to the unrealized gain and loss account entered here.

Field	Description
Type	Select the row that contains the type of gain, loss, or revaluation that you want to post: Realized Gain Realized Loss Unrealized Gain Unrealized Loss
Account	Enter or select the account to which realized and unrealized gains and losses will be posted. You can select either balance sheet accounts or income statement accounts. If you use multiple companies, only those accounts that belong to the active company are available.
Project	Enter or select the project to which you want realized and unrealized gain and loss entries posted for the general ledger account that you entered in this row. Only projects with a Revenue Method N (no revenue) display in the Project lookup list. If you use multiple companies, only projects that belong to the active company are available. The charge type of the project (regular, overhead, or promotional) must match the account type. Indirect accounts require an overhead or promotional project. Revenue accounts require a regular project. Balance sheet or below-the-line accounts can have a regular, overhead, or promotional project. With Organizations If you use organizations, the project that you specify here also determines the organization whose financial statements are affected by gains or losses. You must enter a project in the Project field if both of the following are true: You do not maintain separate balance sheets for each organization (the Maintain separate balance sheets by Organization check box is not selected in Settings > Organization > General, in the desktop application). The account that is entered in the Account field is an income statement account. If you maintain separate balance sheets for each organization, you must enter a project for each organization on the Gains and Losses tab in Settings > Organization > Individual, in the desktop application, regardless of the type of account entered on this tab.
Phase	If a project has phases, enter or select the phase to which you want realized and unrealized gain and loss entries posted for the account that you entered in this row. The rules about organizations and separate balance sheets for the Project field also apply to phases.
Task	If a phase has tasks, enter or select the task to which you want realized and unrealized gain and loss entries posted for the account that you entered in this row. The rules about organizations and separate balance sheets for the Project field also apply to tasks.

Unbilled Services Gains and Losses Section: Realized and Unrealized Gains and Loss Fields

These fields apply for realized and unrealized gains and losses for unbilled services that are created when you run the Revenue Generation process. These fields are enabled only if Revenue Generation is enabled.

Field	Description
Type	Select the row that contains the type of gain, loss, or revaluation: Realized Gain Realized Loss Unrealized Gain Unrealized Loss
Account	Enter or select the account to which you want realized and unrealized gains and losses posted when you run Revenue Generation. You can select either balance sheet accounts or income statement accounts. Vantagepoint calculates and posts unrealized gains and losses to the corresponding gains or losses account when you run the Revenue Generation process. If you use multiple companies, only accounts that belong to the active company are available.
Project	Enter or select the project to which you want realized and unrealized gains and losses posted for the account that you specified in this row. If you use multiple companies, only projects that belong to the active company are available. The charge type of the project (regular, overhead, or promotional) must match the account’s account type. Indirect accounts require an overhead or promotional project. Revenue accounts require a regular project that has a revenue method N (no revenue recognized). In addition, the billing and project currency must match the currency of the company that is being set up. Balance sheet or below-the-line accounts can have a regular, overhead, or promotional project. With Organizations If you use organizations, the project that you specify here also determines the organization whose financial statements are affected by gains or losses. You must enter a project in the Project field if both of the following are true: You do not maintain separate balance sheets for each organization (the Maintain separate balance sheets by Organization check box is not selected in Settings > Organization > General, in the desktop application). The account that is entered in the Account field on this tab is an income statement account. If you maintain separate balance sheets for each organization, you must enter a project for each organization on the Gains and Losses tab in Settings > Organization > Individual, in the desktop application, regardless of the type of account entered on this tab.
Phase	If a project has phases, enter or select the phase to which you want realized and unrealized gains and losses posted for the account that you entered in this row.
Task	If a phase has tasks, enter or select the task to which you want realized and unrealized gains and losses posted for the general ledger account that you entered in this row.