Account Defaults

The Account Defaults window displays the default General Ledger account codes used for control accounts and various other default settings.

Any required General Ledger accounts can be set up through the General Ledger Module.

To set up a General Ledger Account

1. Go to: Main menu > General Ledger module > General Ledger menu > Chart of Accounts.

   

2. Click Insert.
3. Enter the Account Code and a name or description for the account.
4. If the account is to be subtotalled to another account, use the list arrow to select that account.
5. Enter a Page No if required.
6. Select the account type by clicking on the button for that option.
7. If GST does not apply to the account, select Zero Rated for GST?
8. If the account is a bank account, select Bank Account.

If selected Subtotal Header Account Only, allows you to more easily identify which chart of account codes have been marked as Header Account-only codes.

The Level box in the lower right hand corner will display the subtotalling level for that account. If it has not been subtotalled to another account, the level will be 0. The System ID box displays the system generated code for that account.

A standard set of general ledger chart of accounts is included in the database. You can change these codes in consultation with your accountant and the Provet IT Service Desk.

To Enter Account Default Settings

Go to: Main menu > Maintenance module > Maintenance menu > Account Defaults.

Settings

The following are the default control accounts that are set up on installation of VisionVPM:

• Retained Earnings
• Debtor Control
• Creditor Control
• GST Control
• Default Bank
• Default Safe
• Unders & Overs
• Cheq Clear A/c
• Account Fees A/c
• Eftpos Holding Account
• Bad Debt A/c
• Cash Sale A/c
• Discount Received A/c
• Sales Control
• Cost of Sales
• Stock on Hand
• Default Till
• Default Asset A/c
• Depreciation A/c
• Loss on Asset Sales
• Interest A/c

In addition to the default control accounts you can also set up the following items in this window:

• Cheq Clear Fee: The amount to be charged for each cheque above the number of free cheques, as described below.
• No. of Free Cheqs: The number of cheques the bank will accept before a cheque clearance fee is charged.
• Account Fee: The amount that will be charged to clients with an outstanding balance at month end, for example, $5.00
• Min A/c Fees Balance: The minimum outstanding client balance to which account fees will be applied. This can be set at 0.00 to generate account fees on all outstanding balances.
• Charge A/c Fees @: The account period when account fees will be applied. For example, 1 month overdue. Use the list menu to select.
• Goods Receipt Account: If you are going to use goods receipts in VisionVPM, enter the general ledger code for your goods receipt account.
• DC Batch Payment Account: An account code must be entered if you wish to batch your supplier payments in the bank reconciliation window.
• Stock Adjustments: This account code must be entered before you run the procedure Create COS Journals, as part of your end of month processes.
• Stock Wastage: This account is used for stock adjustments related to wastage, for example, when stock has passed its use by date, or the packaging is damaged and it cannot be sold. This might include dead fish, or any other form of wastage within the clinic.
• Monthly Interest %: The amount of interest to be charged on client balances at month end.
• Min Interest Bal: The minimum client balance for interest to be generated. This can be set at 0.00 to generate interest on all outstanding balances.
• Charge Interest @: The account period where interest will be generated. For example, 1 month overdue. Use the list menu to select.
• Eftpos Bank Account: If you wish your eftpos payments to be entered into a bank account other than your Default Bank a/c, enter the general ledger code for your eftpos bank account in this field.
• Incentive Discount Account: If you wish to use incentive discounts, enter the code for the general ledger account for incentive discounts.
• Syndicate Holding A/c: If you wish to use syndicates, enter the code for the syndicate holding account.
• Credit Card Holding A/c: If you wish to pay suppliers using a personal credit card enter the general ledger account for the credit card holding account.
• Stock Fee A/c: If you wish to report on your stock fees a general ledger code can be setup for this purpose.

Click Save to save the settings and close the window.

All required fields must be correctly completed on this window to enable VisionVPM to correctly allocate money to the appropriate General Ledger accounts, charge account fees and interest, charge dispensing fees and process bankings.