Accounting page

Procountor's accounting pages are technically identical regardless of the receipt type to which they are linked. However, there are some receipt-specific differences. Procountor automatically creates accounting postings of all receipts. The postings can be observed on Accounting view, which can be accessed by clicking Go to button on Invoice view, and then by choosing Accounting from the opening drop-down menu

 

General information

• An accounting page is created when a receipt is saved (or approved in case of salaries).
• If you edit the information affecting the receipt’s accounting (products, sum, quantity, VAT, etc.), the accounting and dimensioning will be generated again using the default values. For this reason, creating the receipt should be finished before making changes to its accounting/dimensioning.
• The rows on the page will only be added to the official accounts provided for in the Accounting Act when the receipt has been approved. Before this, unapproved transactions can be taken into account in reporting that covers all transactions in the database. Information on the company’s profit (loss) and financial position can be obtained more quickly in this manner.

 

Buttons of the view

Top part buttons

 

 

Save

• Clicking on the button will save changes made to the accounting page.

Edit

• With the button, the receipt can be copied as a journal or as a journal with reversed values.
• With the button, the journal’s status can be changed to Unfinished. or the journal can be invalidated.

Transactions to rows / Rows to transactions

• Either the Transactions to rows or Rows to transactions button will be displayed on the page.
• The Transactions to rows button will convert postings combined by VAT rate into postings by row.
• Rows to transactions combines rows by VAT rate.
• Whether the postings have been made by transaction or by row depends on whether the Accounting by row option has been selected at invoice creation or not. This function will delete postings and dimensions and create them again using default values.

Preview

• Clicking on the button will display the information on the accounting page in HTML or PDF format. Dimensions can be included in the output file if desired.

Attachments

• Clicking on the button will let you add, delete and browse file attachments to the receipt. You can add/browse/delete file attachments on the accounting pages of all receipt types.

Dimensions

• The button opens the Dimensions view of the receipt.

Discussion

• The button is on purchase, travel and expense invoices.
• The button opens an invoice specific discussion window, where messages can be sent to other users, e.g. the approvers.
• The discussion is visible to users who have the permission to view the invoice. Discussion must be taken into use in usage settings.

 

Lower part buttons

 

Add transaction

• The button creates a new empty accounting row.

Copy transaction

• The button creates a new transaction identical to the copied one.

Delete transaction

• The button deletes the selected accounting row. Only rows with a sum of zero can be deleted and reversing entry rows cannot be deleted.

Select account

• The button will open the Account list window, from which an accounting account can be selected for the accounting row.

Edit selected (x)

• With the button, several selected rows can be edited at once. Information to edit are the accounting account, VAT, VAT status, balance sheet item and transaction description. In order to activate the button, at least two rows must be selected.

 

Receipt information

 

 

Receipt’s type and number are showing at the top part of the view. Times of creation and editing are showing at the bottom of the view.

Basic info

• The customer’s/supplier’s/person’s information (Name, Business ID / SSN / VAT number) can be seen in the accounting page’s basic information.
• The default value for the Business ID field is the contents of the invoice’s Business ID field. If this is empty, the contents of the invoice’s VAT number field will be imported into the Business ID field.

VAT status

• Figures are exported to the VAT summary based on VAT statuses.
• Procountor assumes invoices to be for domestic trade, so the default VAT status for the accounting page is Domestic. If the invoice is for international trade, the VAT status must be changed on the accounting page.
• Default VAT statuses can be defined for business partners and products. In trade inside the EU, invoices are normally VAT-free, i.e. VAT is zero. The accounting rows on the accounting page therefore must not include VAT if the VAT status is not domestic. The program will issue an error message if VAT has been saved onto such rows.
• You must select the appropriate VAT status on the accounting page, since transactions with different VAT rates must be reported in their own sections on the periodic tax return. For example, if the purchase would be subject to 24% VAT in the country where your company is based, its VAT status must be set to EU 24%. The invoice amount and VAT will then be exported to both the payable and deductible fields in the periodic tax return. The net effect on the VAT sum due is zero.
• Further information about VAT:
  • VAT summary
  • Tax return for self-assessed taxes
  • VAT processing in Procountor

Accountant's notes

• 255 characters of notes can be entered in the field. The notes will only be displayed on the receipt’s accounting page.

Invoice notes

• This field shows notes entered on the invoice.

Receipt in total

• The balance in this section should be zero. If it is not, the postings on the accounting page do not balance out. In such a case, you should click on the Save button, which will transfer the balance to account 8890 Balancing differences, from which it can be entered into the correct place.

Calculate summary

• The button opens a window listing the transactions on the receipt and combining the transactions posted to the account.

 

Accounting currency:

The receipt currency is converted to the accounting currency, which is the Euro. This allows purchase invoices to be made in the local currency, travel invoices in the destination’s currency, etc., while the actual accounting is performed in Euros. The system will perform the conversion automatically in accordance with the selected exchange rate. You can set the update intervals of exchange rates in Basic company info.

Receipt number:

In Procountor, receipts are numbered sequentially by receipt type. The series of receipt numbers may contain gaps, since transactions can be invalidated after having been assigned numbers. For instance, this will happen when a purchase invoice is deemed not to belong to the company upon inspection. Invalidated receipts will still be stored in Procountor, but their accounting pages are deleted. Invalidated receipts can be searched for using the Receipt search. Instead of the sequence of numbers, the completeness of receipt data is verified through balancing.

 

Receipt date and entry period

• The default Receipt date on the accounting page is the date of the invoice.
• The date can be changed. For example, an annual discount invoice created on 15 January 2010 can be dated to a logical payment date. By changing the Receipt date to 31.12.2009 on the accounting page, this invoice will be considered as an accounting transaction in December 2009.
• The entry period is automatically the calendar month in which the Receipt date falls. The entry period cannot be changed. If you change the Receipt date, the entry period will change correspondingly.

Receipt validity time / Service period

• The data in the fields is used in Procountor’s Accrual tool to determine the accrual period for the receipt. When Contractual invoicing is used, the fields will contain the invoicing period’s start and end dates.

Depreciation method

• This field is informative and has no impact on any functions.

Transactions description

• 255 character long, receipt-specific description can be entered in the Transactions description field. If transaction-specific row descriptions have not been saved on the accounting page, the transactions description will be copied into the row data. By choosing Copy from voucher name it is possible to copy the name of the voucher as it is, or as an edited version to the Transactions description.

 

Transaction information

Transaction rows

Transaction rows differ depending on the receipt type, but in addition to general ledger name and account number, the following transaction rows can be found from the receipts:

 

Value (EUR)	The transaction’s value in Euros. Charges are positive figures (i.e. debit entries). Compensations are negative figures (i.e. credit entries).
VAT (EUR)	The amount of VAT on the row
VAT %	The VAT rate of the row
VAT ded. %	The default values of 100% on purchase invoices, travel invoices and expense invoices means that they are eligible for full VAT deduction. Change the deduction rate to 0% from the menu if the purchase is not eligible for VAT deduction (e.g. company car costs)
VAT status	From the drop-down menu, it is possible to select an entry-specific VAT status different from the receipt’s status.
Row info	The accountant can enter a description on this row, which will then be displayed in accounting books, for example.
Dimensioning amt	The number of items the row is allocated to.
Balance sheet item	This field will be displayed on the receipt’s accounting page if the setting Show balance sheet items on accounting page is selected in the Usage settings. Through the journal created using the Accrual tool, the journal’s accounting page will contain the original receipt and receipt number, such as Sales invoice 2, in the Balance sheet item section. In case of balance sheet accounts, can be selected a balance sheet item from the drop-down menu or create a new identifier that is stored in the balance sheet item register (up to 40 characters). The field facilitates the creation of balance sheet itemization, since open balance sheet items can be searched through them. The Search open balance sheet items function retrieves all transaction descriptors used on the account and calculates the corresponding open balance sheet balances.

 

Saving the column width

When column width is changed in the Accounting page the change will be automatically saved to all accounting pages that are the same receipt type as the modified Accounting page. The modification will follow the user to all accounting pages in all Procountor environments. 

• The width can be changed by dragging the columns.
• The change is transferred to all Accounting pages that are the same receipt type as the modified receipt.

Receipt balancing

• Receipts use a balancing row, which balancing difference is entered on account 8890 Balancing differences in general ledger accounting.
• The number of transactions entered on the account can be tracked by creating a general ledger of such transactions and sorting them by book value.
• If balance has been entered on account 8890 Balancing differences, a new row must be created on the accounting page for the balancing row’s sum and correct account number. Then the balance on the Balancing differences account must be adjusted to zero.
• For technical reasons, the account number or VAT % of balancing difference rows cannot be changed.

 

Postings

• Procountor assumes that receipts will be posted by type (e.g. Travel expenses for travel invoices), the business partner’s default account, or by the default account entered in the product register.
• Posting rows are created by VAT rate or by row, if the Accounting by row option is selected at invoice creation.
• Combined postings can be converted to postings by row by clicking on the Transactions to rows button, or postings by row to postings combined by VAT rate by clicking on the Rows to transactions
• Posting information can be edited during the accounting period. However, the aim is to automatize the accounting so there is no need to edit the postings.

 

Changing postings

• If there is to change default accounts or previously made postings, clicking on the Select accountbutton will open the Account list window, from which it is possible to select a new general ledger account. Clicking on the Continue button will export the account selected from the Account list window to the accounting row. Clicking on the Edit chart of accounts button on the Account list window opens the Edit chart of accounts
• You the Account list window can also be opened by activating the row by clicking it and then clicking the name of the account.
• The account can be searched by entering the account name or number in the account number field, which makes Procountor to search for the accounts with the entered name or number. If tho whole account number is entered, the account name will change if the entered number is found in the chart of accounts.
• After the edits are made, they can be saved by clicking Save.

 

Correction entry

• When corrections are made to existing Accounting pages, the Correction entry button will appear on the page. Clicking on this button will open the previous version of the Accounting page. You can navigate back to the Accounting page by clicking on the Close
• Correction entries will be made, if more than two months have passed from the receipt’s accounting date AND the receipt was created more than two months ago AND the receipt has not been edited in two days.

 

Flagging postings

It is possible to flag accounting postings in the Purchase, Expense and Travel invoice accounting and Verification view by clicking the flag icon. By using the icon, a user can for example remind himself where he was when the work is interrupted.

• A flag can be deleted by clicking it again.
• Flags can be clicked also in the Verification view.
• Flagging does not affect the usage of Procountor or receipt statuses.
• It is not possible to search flagged items from receipt search by selecting Advanced search > Search flagged invoices only.

 

Dimensions

• The number of dimension items to which the sum has been distributed is displayed by row.
• Before dimensioning, the postings must be ready, i.e. the Save button must be clicked.
• If the sums on accounting rows are changed, the row’s dimensioning must be changed to correspond to the new sums.
• If a user performs the dimensioning or an invoice has default dimensions, and the accounts are changed after dimensioning, the account used by the dimensions will change as well.
• If a user changes the sums on the accounting page (or data such as VAT % or deduction right), the dimensioning will not be automatically adjusted, and the dimension sums must be adjusted manually.
• If the Transactions to rows or Rows to transactions buttons are clicked on the Accounting page, the dimension entries will be deleted and created again using default values.
• If an accounting row is deleted, the dimension entries made for that row will also be deleted.
• If the information affecting to the accounting on the invoice is changed, the accounting page will be generated again. Any dimension entries will be deleted and made again using default values.
• Further information about dimensions:
  • What is a dimension?
  • Dimensioning
  • Default dimensions