Processing Accounts Payable In Deltek GCS Premier

Transcription

1 Processing Accounts Payable In Deltek GCS Premier

2 COPYRIGHT INFORMATION While NeoSystems has made every attempt to ensure the accuracy of these materials, some errors may exist. NeoSystems is not responsible for any loss as a result of using these materials. The information in this document is subject to change without notice. This publication contains proprietary information which is protected by copyright. All rights are reserved. No part of this document may be electronically reproduced or transmitted in any form or by any means without the prior, written consent of NeoSystems, Corp. Copyright NeoSystems All rights reserved. All other trademarks are the property of their respective owners.

3 Topics Overview NeoSystems Corp

4 PROCESSING ACCOUNTS PAYABLE IN DELTEK GCS PREMIER TABLE OF CONTENTS V13C Training Objectives... 3 Login instructions... 4 Set Up a New Vendor... 5 Standards for Numbering Vendors... 5 Entering vendors into GCS Information... 7 Exercise Setting up a vendor for EFT Setting up a subcontractor Enter Vouchers Documenting a voucher Approvals for Invoices Exercise Entering the voucher in GCS Neo best practices for numbering and dating invoices Entering a subcontractor voucher Exercise Print Voucher Edit Report Voucher Edit Report Checklist: Exercise Post vouchers to the A/P file Print/Post voucher distribution journal Exercise Correcting Vouchers Recurring Vouchers Setting up Recurring Code Process Accounts Payable Payments Overview Step-by Step Preparation Check Generation EFT Payments Manual checks Exercise Voiding checks (but not EFT s) Looking at History Answers to Exercises Exercise NeoSystems Corp Page 1 of 52

5 Exercise Exercise Exercise Exercise Feedback NeoSystems Corp Page 2 of 52

6 NeoSystems Corp NeoTips

7 not. If a vendor will not provide a W-9, then the IRS requires that 28% of the payment be withheld from the vendor and remitted to the IRS. NeoTip To keep track of the W-9 s, file them in a binder with alphabetical dividers. Write the vendor # assigned in the lower right hand corner, and initial date of entry into AP. NeoTip We recommend that you not to enter the vendor in the Vendor Master file or the vendor invoice until a W-9 form is received from the vendor. Sometimes, you must enter the vendor in order to enter the voucher before month end. If so, set up the vendor and put the following in the Address field Need W-9. You should not process the check until the W-9 form is received. If a vendor is an individual or partnership, you must check the 1099 box. If the vendor does not require a 1099, you should document why in the User-Defined field Y No 1099?, which stands for Why No 1099?. There is insufficient space in the label field to spell out the word why. Having a permanent record of why the vendor does not require a 1099, saves hours of research at the end of year when you are producing 1099 s. A vendor should have the Issue 1099 checked OR the Y No 1099? field filled in. NeoTip Instructions for the Form 1099-Misc can be found on but these are common exceptions: Exceptions. Some payments are not required to be reported on Form 1099-MISC, although they may be taxable to the recipient. Payments for which a Form 1099-MISC is not required include: Generally, payments to a corporation; but see REPORTABLE PAYMENTS TO CORPORATIONS on page 2; Payments for merchandise, telegrams, telephone, freight, storage, and similar items NeoSystems Corp Page 8 of 52

8 Best Practices NeoSystems Corp

9 To enter the invoice information is simple if it is all contained on the invoice. The terms will default in the remaining information once the invoice date is entered. NEO BEST PRACTICES FOR NUMBERING AND DATING INVOICES A danger of duplicate payments exists when the vendor does not provide complete identification information on their invoices. What can happen if no standard is established and followed, is the same invoice can be entered twice, using different identification information. In some cases, the review will not catch the duplication and the vendor is double paid. At that point, if the vendor does not flag it, it could be months or even years before it s caught, if at all. Below is a standard, that when followed ensures the danger of duplicate payments is avoided: Start No Use the invoice date as the invoice number in the following format: mmddyyyy Invoice Does the invoice have an number? Yes Use the invoice number from the invoice Does the invoice number fit into the 10- digit field? Yes Enter the invoice number Does the invoice have a date? Yes Use the date of the invoice in the following format: mmddyyyy No No Use the final date of the period the invoice covers in the following format: mmddyyyy Abbreviate the invoice number as follows: 1 st digit last 8 digits I.e. Invoice number is , enter as: NeoTip Since GCS is case sensitive enter the invoice number in the same case as shown on the actual invoice itself. NeoSystems Corp Page 16 of 52

10 Step-by-Step Walkthroughs NeoSystems Corp

11 PROCESS ACCOUNTS PAYABLE PAYMENTS OVERVIEW Paying the invoices that have been entered into the system as vouchers can be accomplished by having the system generate checks, Electronic Funds Transfers (EFT s) or by cutting a manual check and entering it into the system. Many companies have a tight rein on their cash. To ensure that their cash is managed well, the following cash disbursements procedure should be followed: Preparation 1. Print the Open A/P Report 2. Go over the report with the Controller or CFO and note which open items should be included for payment 3. Change the status of each voucher to be paid by check to Select for Payment 4. Print the Prepayment Edit Report, review and have the Controller or CFO physically sign the report. Make sure the Controller or CFO knows these are check payments only and that EFT s will be processed separately. Retain the report in a permanent record. Check Generation 5. Record Checks in the Check Log 6. Print Checks 7. Assemble the back up documentation and match up with the check 8. Have the Controller or CFO sign the checks 9. Mail the checks with appropriate remittance information to the vendor. File the back up in the paid vendor file. 10. Post Cash Disbursements. This should match the prepayment edit report NeoSystems Corp Page 26 of 52

12 STEP-BY STEP PREPARATION 1. PRINT THE OPEN A/P REPORT The Open A/P Report is available in two locations. It is on the bottom right hand side of the Check Process menu as per below and also in the Reports/Inquiries menu. Fill out the screen as follows: Then click the Print button. The report will look something like this: NeoSystems Corp Page 28 of 52

13 Practical Advice NeoSystems Corp

14 Printer Model File/Properties File/Select Printer Load Printer Check/ Vertical Document Horizontal Copies? Collate? Advice Order HP Laserjet 1320 Checks Down 50 2 Uncheck Face Down, Feet First Reversed* * ** For printers that require face down, feet first, resort the pre-numbered checks. Instead of the out of the box sequence of 001, 002 and 003 face down, re-sort to 003, 002 then 001 in that order, then put face down for printing. If after you post the checks but BEFORE you post Cash Disbursement, you discover that the checks need to be voided, you can run the Clear A/P Check run process. This process removes the check information from the vouchers in the Open A/P file and resets the Payment Status to Hold For Payment so you can start again. Do NOT use this process if you have already posted the Cash Disbursements. As noted above, do NOT uncheck any of the boxes on this screen (see below) unless Technical Support tells you to. If the entire check run needs to be voided, select All otherwise you can enter a range of check numbers to clear. NeoSystems Corp Page 34 of 52