What Vision Does When You Post Employee Expense Payments
When you post payments for employee expenses, Vision updates the employee ledger, updates accounts, and updates check and transaction files.
During the posting routine, Vision:
- Updates the employee ledger with the advance/reimbursement amount.
- For any advance amounts applied to expense amounts, debits the expense account and credits the advance account.
- Updates the check file to include a record for each check or employee credit.
- Updates the bank transaction file for the payment.
- Updates accrual and cash-basis balances in general ledger accounts with the advance or reimbursement amount.
Accrual basis entries | Vision completes these actions:
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Cash basis entries | Vision completes these actions:
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