Enter Accounting Rules Information
Explanation
This activity is used to add or modify the company information
to be used with accounting.
Prerequisites
The company ID must have been entered so as to be able to enter accounting rules information.
System Effects
The information will be used when accounting
transactions are processed in the company, as appropriate.
Window
Company
Related Window Descriptions
Company
Procedure
- Open the
Company window.
- Open the record for the company either by populating
the window and selecting it from the Identity list, or by querying for
the company.
- Click the Accounting Rules tab and
then the
General Data sub tab.
- The currency code used as the accounting currency by
the company will be shown in the Accounting Currency field.
The date from which the currency code is valid will also be shown. This
information is entered when creating the company, and it cannot be modified.
- Modify the
rate type displayed in the Parallel Currency Rate Type field if
required. The List of Values can be used to select a rate type. (Note:
This field is editable only if the company uses Parallel Currency
functionality.)
- In the Cancel/Rollback Posting Method
list, select the method to handle postings when a transaction
is rolled back or cancelled.
- In the Reversal Voucher Posting Method
list, select the method to handle postings when an automatic reversal
voucher is created.
- In the Period Closing Method field select a
value from the list to determine whether accounting periods can be closed or
finally closed. Not Reversible allows periods to be finally closed,
i.e., a period which is finally closed cannot be reopened.
- Specify the amount method to be used for the company
in the Default Amount Method field.
- Select the tax rounding method to be used for
incoming tax in the Tax Rounding Method field.
- Specify the maximum overwriting level on tax in the
relevant fields, if applicable. You can specify this level as a percentage
and as an absolute amount.
- If the company uses the Quantum for Sales and Use Tax software by
Vertex, specify the tax codes to be used for handling the four tax lines returned
from the software. Sales tax codes should be specified for the city, state,
country, and district in the relevant fields.
- Save the information.