Configuration for accounting transactions.
Steps:
- Navigate to SET UP FILES > Set Up Options.
- Click ACCOUNTING OPTIONS.
- Use the checkbox to enable or disable a specific accounting transaction feature.
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Option |
Description |
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Allow posting of transactions coded directly to the Accrued Revenue GL Account |
This option controls direct postings to the Accrued Revenue GL Account, which is typically reserved for automated entries via the Accrued Revenue function to ensure financial accuracy. Enable this option to allow direct journal entries, or keep it unchecked to adhere to default restrictions and maintain accurate reporting. Default: Unchecked. |
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Allow posting of transaction coded directly to the Deferred Revenue GL Account |
This option controls postings to the Deferred Revenue GL Account, which should only receive entries through the Deferred Revenue function to ensure it reconciles with the system's deferred revenue reports. Enable this to allow direct postings; otherwise, the system restricts direct journal entries to maintain control. Default: Unchecked. |
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Allow approval of transactions coded directly to the Interoffice Clearing GL Account |
Transactions should only post to the Interoffice Clearing GL Account through the Accrued Revenue function to guarantee reconciliation with the Accrued Revenue reports. Check this option to permit direct postings; uncheck to enforce default controls and prevent direct journal entries. Default: Unchecked. |
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Allow Journals to be deleted |
Enables users to delete journal entries, providing flexibility in journal management. Default: Checked. |
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Allow posting to Header GL Accounts |
This setting allows journals to be processed to both Header GL accounts and their sub-accounts, enabling comprehensive financial management. Default: Checked. |
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Allow posting to Header Departments |
Header departments consolidate multiple sub-departments for streamlined reporting. This setting controls whether transactions can post directly to these header departments. Enable this to allow such postings or disable it to maintain default restrictions. Default: Unchecked. |
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Billings on Accrued Revenue |
When checked, processing an Accrued Revenue entry will also generate a billing entry in the Billings account, capturing the billings associated with the accrued revenue. Default: Unchecked. |
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Billings on Deferred Revenue |
Activating this option results in a billing entry in the Billings account corresponding to a Deferred Revenue entry, assisting in the management of deferred revenue. Default: Unchecked. |
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Create Receipt and Payment Tax Journals |
Applicable in jurisdictions such as Thailand, where taxes on receipts and payments are immediately accounted for and reported. This setting ensures compliance with local tax regulations. Default: Unchecked. |
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Default Transaction pages with tax to enter amount including tax |
This setting determines how tax is handled on transaction pages like Supplier Invoices and Payments. Check this box if you prefer to enter the total amount including tax, and let the system calculate the pre-tax and tax amounts. Default: Unchecked. |
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Force accounting month & transaction date to match |
Ensures the transaction date aligns with the accounting period it posts to, preventing posting across different periods. Default: Unchecked. |
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Default Supplier Invoice Accounting Month to Current Accounting Month |
When entering supplier invoices, checking this option sets the accounting month to the current open month automatically. If unchecked, the accounting month defaults to the one corresponding to the invoice date. |
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Supplier Invoices must be reconciled before payment |
Requires reconciliation of supplier invoices using the designated feature before they can be processed for payment, ensuring accuracy in financial records. Default: Unchecked. |
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Allow changes to Supplier Invoices that are Manager Approved |
Enables modifications to supplier invoices marked as 'Manager Approved.' If unchecked, approved invoices cannot be unposted or changed, securing the integrity of approved transactions. Default: Unchecked. |
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Use Sales Less COGS Accounting |
Enables the creation of distinct General Ledger entries for invoiced supplier costs and those allocated to jobs, applicable only when Work in Process (WIP) takeups are processed. This option is useful for invoicing to estimates or in a freeform manner. Default: Unchecked. |
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Use WIP Accounting |
Turns on Work in Process (WIP) accounting, which is critical for tracking the costs associated with ongoing projects until they are completed. Default: Checked. |
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Send intercompany supplier invoices to incoming supplier invoices via email? |
If checked, along with generating a supplier invoice record in the 'incoming supplier invoices folder,' an email confirmation will be sent. This is useful if the sending office requires email confirmation that the invoice has been dispatched to the receiving office. Default: Unchecked. |