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Contents of the Configure Accounts Payable Voucher Settings Screen

Use the fields and options to configure the Configure Accounts Payable Voucher Settings screen.

Voucher Numbering Method

There are two methods to number the vouchers: system (company-wide) or manually (assigned by the user). You assign voucher numbers at the beginning of the voucher input process. Costpoint requires that the voucher numbers be unique for each fiscal year.

Field Description
System

Select this option to have Costpoint assign voucher numbers. This method of assigning voucher numbers on a company-wide basis is the default. If you select this option, you also enter a number in the Last System Voucher Number field. Costpoint increments by one from this number each time that you add a voucher.

Manual

Select this option to assign voucher numbers manually. Costpoint requires a voucher number at the beginning of the input process.

Last System Voucher Number

Enter the last voucher number.

Approval of A/P Vouchers

Field Description
Require Approvals

Select this check box if vouchers must be approved before they can be posted to Accounts Payable.

Approval Required Above

Enter an amount in this field. Vouchers with transaction amounts that are greater than this amount require approvals. The amount specified should be the invoice amount before discounts. If you did not select the Require Approvals check box, this field is not available.

Duplicate Invoice Numbers in A/P

Field Description
Allow Duplicate Invoice Numbers

Select this check box if you want Costpoint to accept and process duplicate invoice numbers.

Tax Code Defaults

Use the options in this group box to select a default tax code for the Manage Accounts Payable Vouchers screen. When you enter vouchers, Costpoint defaults to one of these sales tax codes.

Field Description
A/P Vouchers

From the drop-down list, select a default sales tax code for the Manage Accounts Payable Vouchers screen:

  • Non-Taxable: The default selection
  • Sales Taxable: For sales or Value Added Tax (VAT)
  • Use Taxable: For use or reverse tax
Post Use Tax Accrual

Select this check box if you need Costpoint to post a journal entry accruing the use tax liability and expense at the time the vouchers are posted. Costpoint calculates the use tax accrual for those voucher lines that are taxable, for which the vendor did not charge you sales tax. You are responsible for remitting this use tax to the applicable state or provincial government.

However, if you select the Post Use Tax Accrual check box, you must also establish special Use Tax Codes for each taxable jurisdiction. These codes are instrumental in designating where the accrued taxes are posted in the General Ledger. On the Manage Sales or Value Added Taxes screen you must flag each use tax code as Exempt (exempt from sales tax) and enter the applicable Certificate No.

Note: After you save discount information on this screen during the initialization process, the Charge Discounts To, Charge Organizations Of, and Post To G/L Discount Method group boxes are shaded (unavailable) from that point forward.

Charge Discounts To

Any discounts that you receive due to timely payment of vendor invoices can be assigned back to the original voucher item (resulting in a discount of the item's cost) or can be assigned to a separate account (all amounts saved from discounts then appear in one account).

Field Description
Individual Line Items

Select this option to credit discounts taken back to the individual line items on the voucher automatically.

Discount Accounts (and Discount Account Number)

If you select this option, enter, or click to select, the discount account in the adjacent field. After you enter an account, Costpoint validates that the account is chargeable and active. The discount account must be linked to all organizations on the Manage Accounts Payable Accounts screen.

Charge Organization of

After selecting a discount account to which to charge discounts, select the organization to receive credit for any Accounts Payable discounts. The options are:

  • Individual Line Items: Select this option to credit discounts to the organization listed on the original voucher automatically.

  • A/P Organization: Select this option to credit discounts to the Accounts Payable organization automatically.

Post to G/L Discount Method

Select the manner by which discounts are posted to the general ledger.

  • Gross - Without Discounts: Select this option to post charges to the General Ledger without subtracting the discount amount. When you post cash disbursements, any discounts taken are posted as a credit to the General Ledger, either against individual line items or against one discount account. If your company generally does not take advantage of discounts, select this method.

  • Net - Including Discounts: Select this option to post charges to the general ledger, including the discount amount. If you select this method, the discount will be taken whenever the voucher is paid. The discount will be taken regardless whether the payment is made before the discount date or after the discount date.

    Discounts cannot be taken on vouchers that are posted using the net method because the posted amount is already net of the discount.

Field Description

Intercompany Work Orders

Use this group box to set whether or not Accounts Payable Vouchers can be automatically generated from Intercompany Work Orders from another company and to specify which User ID to assign for vouchers created.

Note:

  • The values indicated in this Intercompany Work Orders group box are not copied when you set up a new company through the Set Up Company screen.

  • This group box displays only if you are licensed for Intercompany Work Orders.

Field Description
Allow Automatic Creation of A/P Vouchers from Intercompany Work Orders

Select this check box to allow the automatic creation of Accounts Payable vouchers from Intercompany Work Orders.

Note: The Create A/P Vouchers from IWO group box on the Manage IWO Projects screen is enabled when you select this check box. A/P Vouchers that are created automatically do not require approval. Once this check box is selected, and you clear it, that change will not be applied to the Intercompany Work Orders projects. However, you can still modify the setup in the project level through the Manage IWO Projects screen.
Entry User ID for Vouchers Created

Enter, or click to select, the Entry User ID to assign to Accounts Payable vouchers that are created automatically from Intercompany Work Orders.

Note: This field is enabled when you select the Allow Automatic Creation of A/P Vouchers from Intercompany Work Orders check box. The User IDs displayed in the lookup are those that were assigned to your company.