Ledger

Set up general, account length, fiscal year close, consolidation, journal, and dimension parameters.

Budget

Set up validation and allocation key information.

Sales tax

Set up general, cash discount, payment, validation, invoice, special report, and Italian sales tax book sections parameters.

• If you have not defined an item sales tax group for the ledger account in the Chart of accounts form, the item sales tax group that is defined on this tab is entered as the default item sales tax group on new journal lines.

• If the Exemptcheck box is selected for the ledger account in the Chart of accounts form, the item sales tax group field on the journal line is blank even if you have defined an item sales tax group on this tab.

• If the Marginal basefield of any sales tax code is based on either a line or a unit as defined on the Calculationtab in the Sales tax codes form, you must select Linein the Method of calculationfield.

• If you select the Use sales tax module as US tax systemcheck box, the Pct. exempt from sales taxand Investment tax percentagefields are not available in the Sales tax codesform.

• To report tax corrections when you report ordinary tax transactions, select the Include correctionscheck box. The Sales tax payment versionfield disappears from the Sales tax payment form ( General ledger> Periodic> Sales tax payment> Sales tax payment).

• If you select the Deduct cash discount before sales tax calculationcheck box, the Reverse sales tax on cash discountcheck box and the Cash discount is calculated on amount incl. sales taxcheck boxes for customers and vendors are not available.

Fixed assets

Set up depreciation, journal, numbering, default value model, payment, provision for reserve, Accounts payable integration, and reason code parameters.

Inventory dimensions

Select inventory dimensions to display on the lines in the Inventory to fixed assetsjournal. Before you can make entries on this tab, you must select a default value model on the Fixed assetstab.

Reverse charge

Set up threshold amounts and sales tax information for items that are subject to reverse charge VAT and that are sold to VAT-registered businesses within the United Kingdom.

Note
(GBR) This tab is available only if the configuration key for the United Kingdom is selected.

Number sequences

Select the number sequences that are relevant for your tasks.

Values for reducing balance

Open the Values for reducing balanceform, where you can enter the largest yearly depreciation percentage and the number of times the percentage of straight line depreciation is allowed.

Note
(DEU) This button is available only if the configuration key for Germany is selected and the Check maximum percentage for reducing balanceoption is selected.

Check for voucher used

Select how to handle duplicate voucher numbers in journals.

Note
You must select Accept duplicatesto be able to use different transaction dates for the same voucher number in the Datefield in journal lines.

Check continuous numbers

Select this check box to verify continuity regarding the number sequences that generate vouchers in the ledger.

Interrupt in case of error account

If this check box is selected, updating is interrupted with an error message if the error account is used.

Express exchange rate

Enter the number of units of other currencies that the company exchange rates are based on. The value depends on the usual convention for the currency that is selected as the company currency. The value that is entered here applies to all the exchange rates that are defined in the Exchange rates form.

If you change the value in this field, the change is automatically reflected in the exchange rates in the Exchange ratesform.

Note
You must select a positive number that is 1 or a multiple of 10 for this field. Many companies choose to use 100. Then the rates in the Exchange rates form indicate what 100 units of the foreign currency are worth in the company currency.

Maximum penny difference

Enter the maximum rounding for a voucher for amounts in the company currency.

Maximum penny-rounding in secondary currency

Enter the maximum rounding for a voucher for amounts in the secondary currency.

Validate journal

Validation of Belgian journal.

Transaction date reference to competence date

Select this check box to allow acknowledgement dates for transactions that are used for Italian reporting.

Note
(ITA) This field is available only if the configuration key for Italy is selected.

Control type

Enter the fixed length of the account number on transaction accounts. A length of 0means there is no fixed length.

For more information, see Ledger account length.

Control type

Select which control should be applied to the control type when creating transaction accounts.

For more information, see Control type.

Group total account length

Enter the maximum number of characters in the account number to automatically propose as the group total in the Account typefield.

Automatic account type selection

Select this check box to use the first character in the account number for the selection of the account type. Set up the selection in the Automatic account type selection form.

Correction

If this check box is selected for transaction reversals, a debit transaction is reversed by adding a minus debit transaction, and a credit transaction is reversed by adding a minus credit transaction. When reversing a customer or vendor transaction with a correction, the connected ledger transactions are also reversed using corrections. This is known as Storno reversal.

Delete close-of-year transactions during transfer

If this check box is selected, opening transactions and system-generated closing transactions that exist for the year to be closed are deleted when the transfer is processed again.

For more information, see Delete close-of-year transactions during transfer.

Create closing transactions during transfer

Select this check box to have the system create closing transactions when running the opening transactions job.

For more information, see Create closing transactions during transfer.

Set period status to year closed

Select this check box to display a status of Year closedfor all fiscal periods for the year that is being closed.

Voucher number must be filled in

If this check box is selected, a voucher number must be entered when opening transactions are created for a new fiscal year.

Limited number of open fiscal years

Enter the number of open fiscal years. If the total number of currently open fiscal years plus the new fiscal year will exceed this number, a message is displayed and the new fiscal year is not created.

Note
(FRA) This field is available only if the configuration key for France is selected.

A fiscal year is not open if it has a status of Year closedin the Periods form.

Consolidated company accounts

Select this check box if the current set of company accounts is used for consolidation of other company accounts, and consequently cannot be used for the normal posting of data.

Elimination company

Select this check box to be able to post elimination transactions in this company.

Extended ledger journal

Select this check box to run extended journalizing. The extended journalizing prints a report sorted by the date and time of creation; the standard journalizing report sorts by journal number.

Use noncontinuous page numbering

If this check box is selected, journalizing reports start from page 1.

Clear this check box to use continuous pagination.

Check journalizing

Select this check box to verify whether periods are journalized before they are stopped or closed. The verification is performed in the Periods form when the Statusfield is changed to Stoppedor Closed.

Deny blank dimensions

Select this check box to deny the posting of vouchers where one or more dimensions are blank when dimension set hierarchies are used.

This check box is cleared by default, which allows the system to be set up for dimension hierarchies at any time without blocking postings until the system is fully defined.

Activate sets

Select whether to activate the use of dimension set hierarchies.

This field is set to Noneby default, which allows the system to be set up for dimension hierarchies without interference until the system is ready to use dimension set hierarchies.

• At posting– Activated when transactions are posted to ledger accounts, according to the set hierarchy and the dimension set rules that apply to each ledger account.

• At update and posting– Activated when transactions are posted to ledger accounts and when other records are updated.

Default focus for dimension rendering

Select a dimension focus or dimension set to be proposed as the main focus on the Dimension statementreport when it is printed from General ledger> Reports> Transactions.

Update cost category from ledger account

Select this check box to activate the update of the cost category from the ledger account.

Validate budgets

If this check box is selected, ledger budget validation will be executed as specified for the account in the Chart of accountsform.

Allocation key

Select the allocation key that specifies how your cash flow forecast budget is used. For more information, see Budget allocation key.

Item sales tax group

Select a default item sales tax group to be used when creating new journal lines. For more information, see Set up a default item sales tax group for a ledger account.

Calculation date type

Select a calculation date type, which determines the sales tax rates to use if you have set up different rates for different dates:

• Invoice date– Sales tax is calculated using the sales tax percentage that is valid on the invoice date. This is the default value.

• Delivery date– Sales tax is calculated using the sales tax percentage that is valid on the delivery date.

• Document date– Sales tax is calculated using the sales tax percentage that is valid on the date that you created the sales order.

For more information, see Calculation date type example.

Method of calculation

Choose whether sales taxes on invoices should be calculated for each line or for all lines.

Amount incl. sales tax

Select this check box to enter gross amounts (including sales tax) in journals. For more information, see Including sales tax in journal amounts.

Apply U.S. sales tax and use tax rules

Select this check box if the company follows the sales tax and use tax rules of the United States.

According to these rules, sales tax on a purchase is posted as an expense on the ledger account to which the purchase itself is debited. This ledger account is indicated on the invoice or journal line.

Note
If this check box is cleared, sales taxes that cannot be partially or fully deducted in your tax calculation can be posted to a use tax ledger account that you set up in the Ledger posting groups form.

For more information, see Applying U.S. sales tax and use tax rules.

Conditional sales tax

Select this check box if sales tax should not be reported and paid before the invoice is settled.

For more information, see Conditional sales tax.

Check sales tax groups

Select this check box to enable unrealized sales tax options.

Unrealized sales tax

Select this check box to enable the unrealized VAT functionality.

Note
This field only is available if the Sales taxand Unrealized sales taxconfiguration keys are selected.

Enable +âGǪland tax requirements

Select this check box to use the tax functions for the Åland islands.

Tax direction requirement

Select this check box to require that a tax direction be defined for a ledger account before tax-related transactions can be posted to that account.

Validate tax code

Select this check box to validate the sales tax code that is assigned to the ledger account when you post a document.

Reverse sales tax on cash discount

Select this check box if sales tax should be reversed when a cash discount is granted.

Your selection determines the default value for new sales tax groups, but you can change the parameter setting on the sales tax group. If you selected the Cash discount is applied in the invoicecheck box, this field is not available.

Deduct cash discount before sales tax calculation

Select this check box to never calculate sales tax on cash discount amounts.

If you selected the Cash discount is applied in the invoicecheck box, this field is not available.

Cash discount is applied in the invoice

Select this check box to allow the cash discount to be calculated in the invoice, and not calculated in the payment.

Note
(ESP) This field is available only if the configuration key for Spain is selected.

Cash discount is calculated on amount incl. sales tax

Select this check box if the cash discount for customers should be calculated based on the total invoice amount including sales tax.

For more information, see Cash discount is applied in the invoice.

If you selected the Cash discount is applied in the invoicecheck box, this field is not available.

Mandatory item tax groups

Select this check box to specify item tax groups on free text invoices.

Cash discount is calculated on amount incl. sales tax

Select this check box if the cash discount for vendors should be calculated based on the total invoice amount including sales tax.

For more information, see Cash discount is applied in the invoice.

If you selected the Cash discount is applied in the invoicecheck box, this field is not available.

Sales tax on overpayment or underpayment

Select this check box to calculate sales tax on overpayments or underpayments.

Sales tax amount per invoice line

Select this check box to update the total calculated sales tax amount on the invoice journal. When this check box is cleared, no sales tax amount is updated.

Include corrections

Select this check box to include sales tax corrections in the sales tax payment periodic job and report.

A sales tax report that includes corrections from previous periods is not marked as a correction report.

If you select this check box, the Sales tax payment versionfield is not available in the Sales tax payment form.

If this check box is cleared, you must report corrections in a separate sales tax report.

For more information, see Using the Include corrections check box.

Enable

Select this check box to enable sales tax book section functionality.

Allow duplicates

Select this check box to allow the same setup of range and number format for number sequences in two or more different sales tax book sections. The selection must be in accordance with the setup in the Check for voucher useddrop-down list in the General ledger parametersform.

Min. depreciation

Enter the smallest amount of depreciation that is allowed. Detailed rules for depreciation rounding can be set up separately for each depreciation profile in the Round off depreciationfield in the Value models form. The depreciation can never be less than the amount in this field.

Allow multiple acquisitions

Select this check box to allow multiple acquisitions on a fixed asset within the system.

This check box must be selected to create assets that use the low value pool depreciation method.

Half year depreciation on additional acquisitions

Select this check box to calculate depreciation for additional acquisitions according to the Austrian half-year rule.

Note
(AUT) This field is available only if the configuration key for Austria is selected.

Check maximum percentage for reducing balance

Select this check box to validate the maximum percentage for reducing balance and maximum relation straight line-reducing balance fields. For more information, see Reducing balance depreciation.

Note
(DEU) This field is available only if the configuration key for Germany is selected.

Consider capitalization threshold

Select this check box to require that the system verify that the acquisition price of an asset on an Accounts payable invoice meets or exceeds the amount needed to depreciate the asset.

For example, suppose a fixed asset group has a capitalization threshold of 2,500. When you post an invoice with an asset in that group, the system can verify that the acquisition transaction that is created has an acquisition price of at least 2,500. The Depreciationcheck box in the value model of the asset will be selected automatically if the acquisition price meets the threshold.

Capitalization threshold

Enter the capitalization threshold amount to use as the default value for fixed asset groups.

Posting profile

(Mandatory for setup) Select the default posting profile. Everywhere that fixed asset transactions are posted, a fixed asset transaction type must be entered. This type connects the transaction with the posting profile and with the ledger accounts that are set up for ledger integration in the Posting profiles form.

Inventory journal

(Optional) Select a default inventory journal that will be suggested when a new inventory journal for fixed assets is created. All journal names that are set up in Inventory management with a type of Fixed assetsare available.

Autonumber fixed assets

If this check box is selected, new fixed assets are assigned numbers from the number sequence, which is set up on the Number sequencestab.

If this check box is cleared, new fixed assets are assigned numbers manually.

In the Fixed asset groups form, number allocation can be set up with separate number sequences per fixed asset group.

Bar code equals fixed asset number

Select this check box to set the bar code to the fixed asset number. Together with fixed asset numbering, bar codes can be assigned to the fixed assets.

For more information, see Bar code equals fixed asset number.

Default value model

Select the default value model for fixed assets. Each fixed asset can be assigned an unlimited number of parallel service lives in the Value models form.

For more information, see Default value model.

Deduct cash discount?

In many countries/regions, the acquisition price of the fixed asset (and thus the depreciation basis), must be reduced by any discount granted in connection with the fixed asset acquisition, even by cash discounts.

If this check box is selected and a payment for the purchase invoice for a fixed asset is posted, the cash discount that is received will not be posted on the system account for cash discounts, but directly on the fixed asset, instead.

Account for revenue recognition of untransferred reserves

Select the account to which reserves that were not transferred before the time limit will be posted.

For more information, see Account for revenue recognition from reserves not transferred.

Allow asset acquisition from Accounts payable

Select this check box to post an asset acquisition transaction when an invoice that includes a new or existing fixed asset is posted.

For more information, see About assets created from Accounts payable.

Restrict asset acquisition posting to user group

Select a user group to allow only members of this group to post asset acquisition transactions when posting an invoice that includes a new or existing fixed asset.

This field is available only if the Allow asset acquisition from Accounts payablecheck box is selected.

Create asset during packing slip or invoice posting

Select this check box to create a new fixed asset when you post a packing slip, or when you post an invoice if the fixed asset was not created when you posted the packing slip.

The new fixed asset is created if the New fixed asset?check box is selected on the lines of a packing slip or invoice before you post it.

Note
If you clear this field, a fixed asset must exist in the Fixed assetsform before you can reference the asset number on the lines of a purchase order, packing slip, or invoice.

For more information, see About assets created from Accounts payable.

Reason code requirements for asset changes

Select this check box to require a reason code when users modify the Sales value, Service life, Depreciation periods, or Expected scrap valuefields in the Value modelsor Depreciation booksforms.

If a reason is required for changes to these fields, a Reasonform appears when you try to save the field changes.

Reason code requirements for transactions

Specify whether users must select a reason code before journal transactions of the selected type can be posted. Select a transaction type and click the arrow buttons to move the transaction type between the Requiredor Not requiredlists. For more information, see Set up reason codes for financial modules.

Journal lines, Inventory

Select the inventory dimensions to display on the Overviewtab in the inventory journal for fixed assets.

For more information, see Journal lines, Inventory.

Invoice level threshold

Select this check box to compare the invoice total of items that are subject to reverse charge with a specified threshold amount to determine whether reverse charge VAT applies.

Invoice threshold amount

Enter the minimum amount for invoices, exclusive of VAT, to which reverse charge VAT applies. If the invoice total is less than this amount, standard VAT applies.

Item line threshold

Select this check box to compare the line item total of items that are subject to reverse charge with the threshold amount to determine whether reverse charge VAT applies.

Item group

Select the item group that contains items that are subject to reverse charge VAT.

Item description

The description of the selected item group.

Threshold amount

Enter the minimum amount for the line item, exclusive of VAT, to which reverse charge VAT applies. If the line item total is less than this amount, standard VAT applies.

Purchase order sales tax group

Select the sales tax group to use for purchase orders when reverse charge VAT applies.

Sales order sales tax group

Select the sales tax group to use for sales orders when reverse charge VAT applies.

Name

Enter the name of the contact person in your organization who is responsible for reverse charge VAT information. This name is printed on the Reverse Charge Sales List.

Telephone number

Enter the telephone number of the contact person in your organization who is responsible for reverse charge VAT information. The telephone number is printed on the Reverse Charge Sales List.

Invoice text

Enter the text, such as Subject to Reverse Charge, to print on the invoice when an item that meets the criteria specified on this tab is sold.

Reference

The reference type for the number sequences that are related to General ledger. You cannot create new references.

Number sequence code

Select a number sequence that is associated with the reference.

To define number sequence codes, click Basic> Setup> Number sequences> Number sequences .