Summit A/P Voucher Process

Transcription

1 Summit A/P Voucher Process Copyright

2 Contents Accounts Payable... 4 Accounts Payable Setup... 5 Account Reconcile Protection Default Bank Account... 5 Default Voucher Method - Accrual Basis - (Post to A/P VO Transactions) Cash Basis... 5 Numbers of Check Copies Vouchers... 6 Voucher Entry... 7 Voucher # Purchase Order... 7 PO Payment Partial... 8 Vendor # New Vendor Posting Date... 8 Bank Account... 8 Hold Payment Recurring Voucher... 8 General Description Due Date... 8 Separate Check Voucher Invoices... 9 Vouchers Accounts...11 Saving and Submitting a Voucher...12 Editing a Voucher...12 Voucher Posting...13 Reversing a Voucher Posting...14 Copyright

3 Accounts Payable Accounts Payable Voucher Processing Copyright

4 Accounts Payable Setup Under the Administration heading click on the Accounts Payable Setup button and the screen below will display: Default Voucher Method - Accrual Basis - (Post to A/P VO Transactions) - Vouchers must be posted to A/P prior to generating an A/P check run. Cash Basis Vouchers can be paid via a check run without posting to A/P the entry would be to the account entered offset by the cash account for the bank used. (Post to Cash only CK Transactions) Numbers of Check Copies When the user prints check copies during a check write, the number set in the number of check copies drop down will automatically print. Account Reconcile Protection This is a security feature offered by some banks. If you check the box in front of the Generate Account Reconcilement File and select a state, this will cause the system to generate an Account Reconcilement File during the check write that can be sent to the bank. No checks presented at the bank can be cashed unless they are contained in the Reconcile file. Default Bank Account This is the default bank selected for all vouchers. Copyright

5 Vouchers There are three tasks available for voucher processing, Vouchers, Voucher Edit Reports, and Check Run. Begin by entering Vouchers for invoices to be paid. Select Vouchers and the following screen will be displayed: Vouchers can be viewed in Voucher number order, Due Date order and Vendor Order. To change the order use the radio buttons on the right side of the screen. Copyright

6 To add a new voucher, click on the New button and the voucher entry screen will display. There are three tabs for entering a Voucher, the Voucher Information tab, the Invoices tab, and the Accounts (to be charged) tab. Voucher Entry Voucher # - When the Voucher number is left as zero, the system will assign the number based on the next number designated for VO transactions in the A/P Journal. Purchase Order - If there is an outstanding approved purchase order for this purchase, enter the PO number. All of the PO information will be placed into the Voucher including Vendor and Accounts to be charged from the PO. PO Payment Partial By checking the box for PO Payment Partial, the purchase Order can remain open for future payments. This can be referred to as a blanket order. A partial payment will decrease the amount committed against the budget by the amount paid (for each line item account charged). If the amount paid happens to be more than the committed amount, the committed amount will be zeroed and the amount paid will be charged to the account on which it was committed. Copyright

7 . Vendor # - The Vendor s number can be input under this heading, or selected from the drop down box beneath the New Vendor button. New Vendor A new Vendor may be added by clicking on this button. The system will bring up the Vendor screen allowing the user to enter a new Vendor. General Description This is a required input field. This description is what will show on the Detailed Expenditure Report. It should describe the entire voucher. Due Date This is the date used for selecting vouchers during the check write. Posting Date Is used only for the A/P posting (VO). It can be used to accrue expenses to prior period end dates. You can enter any date (in the past or in the future) and the VO transaction, which debits the accounts entered (normally an expense account) and credits accounts payable will be posted with this date. Bank Account Select the bank account from which this payment will be made. You can have multiple bank accounts, but only one per voucher. When a check write is run you will select the bank account. Only vouchers for the selected bank account can be chosen for the check write. Hold Payment Check this if the Voucher shouldn t be paid at the current time. It cannot be included in a check write if this box is checked. Recurring Voucher If this box is checked a new Voucher will be generated for the same day of the following month after the check is printed for the voucher. It is used for monthly recurring payments. After each check write a new voucher will be generated with a new voucher number. This will occur until you uncheck the Recurring Voucher box or delete the newly created voucher. Separate Check Voucher for one vendor will be combined in a check write unless this box is selected. If this box is selected a separate check will be printed for this single voucher. Copyright

8 Voucher Invoices The Invoices tab allows unlimited invoices to be entered for a voucher. The date and description gets filled in on the first line of the invoices with the current date and the first line of description comes from the General description on the first tab. Both items can be changed. Enter the Invoice number(s) and the amounts. Pressing enter after the amount is entered will automatically go to the Add invoice button and add another row. Each invoice entered is edited to determine if it has already been paid or has been entered on another voucher that has not yet been included in a check write. If this Voucher was for an item that should be added to fixed assets, click on the Inventory button and the entry screen for Inventory Items will come up and you can enter the (fixed asset) inventory item. If the voucher is for Vehicle Maintenance, click the Vehicle Maintenance button and enter the repair or maintenance information. The invoice entered for the vehicle maintenance will populate a line on the Invoices list. Copyright

9 Vehicle # - Use the drop down box to select which vehicle this Voucher is for. Invoice Number This would be the Inv# you want to be used for the voucher. Date Input the date of service. Cost The amount of the Invoice. Current Mileage Input the current mileage of the vehicle if known. Type of Maintenance or Repair Select the type from the drop down box beneath this heading. Comments Any comments about this entry should be entered here. Copyright

10 Vouchers Accounts After the invoices are entered, click on the Accounts tab and enter the accounts to be charged. The Accounts tab is used to designate which Funds, Cost Centers and GL Accounts will be charge for the invoice payments. If you entered a PO on the first tab, all the accounts will be automatically populated with the original PO amounts. Enter the information or use the dropdown boxes to select the data. The fund, department and object code must all have valid entries. The Percent column may be the data used to distribute, or skip to the Debit column and enter the debit amount. If a credit needs to be entered, click heading of the Credit column where Credit is in red and it will allow entry of a credit amount. If you have entered a PO, you can click on the Distribute Based on PO button and the invoice amounts will be prorated based on the original amounts entered for each account on the PO. You also have the option of selecting a pre-defined Cost Distribution and distributing the cost based on the Cost Distribution. Otherwise you can enter the accounts and amount to be charged. The total charged for the accounts must balance to the total amount of the invoices entered on the second tab. Copyright

11 Saving and Submitting a Voucher After completing the voucher entry you have the option to Save and Hold the voucher and come back to it and completed at a later time. Save and Hold does not perform the final edits like the Submit button. You may have unbalance accounts and invoices and incomplete account entry lines. After the Save and Hold or Submit button is clicked, the next sequential voucher number form the Accounts Payable Journal (defined in the General Ledger) will be assigned to the voucher. For this journal example, the last voucher number used is displayed (VO 70663). The next voucher number to be assigned will be If you want to change the sequential numbering you may change the VO number in the Journal. Remember the next sequential number will be the number in the journal + 1. When you are finished with the voucher and are ready to post it to A/P or use it in a check write you must Submit the voucher. At that time the total of all invoice amounts and the total of all account amounts must be equal and all the required fields will be checked for accuracy. Editing a Voucher To change a voucher, double click the voucher in the list. Make any necessary changes and Save and Hold or Submit the voucher. Clicking the Save and Hold button will change the status to Hold. Clicking the Submit button will change the status Submitted. Only Submitted Vouchers can be posted to Accounts Payable. Any vouchers that still have the Hold status cannot be posted to Accounts Payable. If a voucher has been posted you are limited to editing only the following items: In order to edit items other than the items shown above see Reversing a Voucher Posting on page 14. Copyright

12 Voucher Posting If you are using the Accrual Basis for accounts payable vouchers you must Post each voucher before it can be selected for a check write. A voucher must have a status of Submitted before it can be posted. To submit a voucher on Hold, double click the voucher and open it. Then click on the Submit button. In order to post one or more vouchers highlight the voucher(s) and click on the Post button. The Post button will prompt you for confirmation and then if you continue with the posting it will generate journal entries that debit the accounts entered on the voucher and credit the balancing account from the Accounts Payable Journal. Copyright

13 The resulting transaction will be placed in the Transactions area of the General Ledger. The transaction will look like this: Reversing a Voucher Posting After a voucher has been posted and you attempt to edit or change the voucher by double clicking the voucher you are limited to the items designated below in the red box. All other items on the voucher entry screen on all tabs are disabled. If it is necessary to change the amounts, invoices, accounts or vendor information you must reverse the voucher posting prior to changing the voucher. To do that you must have an RV transaction Code defined in the Accounts Payable journal (See screen shot above). Copyright

14 To reverse a voucher highlight the voucher(s) and click on the Reverse Posting button. You will then be prompted with the following message: The following actions will occur: 1) A reversing entry will be place in the Current Transactions area of the General Ledger with a transaction code of RV with the original voucher number. 2) A new voucher will be generated from the old voucher with the next available voucher number from the Accounts Payable journal. 3) The voucher being reversed will be deleted. After reversing the voucher posting, you will then be able to edit the new voucher. You will need to post the new voucher just like any other voucher. Copyright