The Accounting tab in the System Options screen contains the information described in the table below.
After you make changes, click Submit. You'll then need to restart the world-wide web publishing service.
| Item | Description |
|---|---|
| Base Currency Title |
Depending on which currencies have been set up in Edit / Currencies, select the currency you wish to use as your principal reporting currency from the drop down menu. You can also use non-standard currency images. |
| Show "EU Client" Option | When this checkbox is selected, the EU Client checkbox is available whenever you are creating or editing a client record. |
| VAT Rates | These are the VAT/Sales Tax Rates that are relevant to expenses and invoices. Additional rates can be added using the + button. |
| Months Post Year End Filing Registrar | This is the number of months' grace legislation allows for a Company's Annual Return to be made following the client's year end. The calculated date (i.e. Year end + the content of this field) is shown in the Client Details screen. |
| Months Post Year End Filing Returns | This is the number of months grace legislation allows for a Company to make it annual tax return. The calculated date (i.e. Year End + content of this field) is displayed in the Client Details screen. |
| VAT Ledger Code | This is the Ledger Code against which all VAT items will be recorded. |
| Avg. rate per Hour | This rate will be used in the calculation of the Available Hours to Complete a project (see Financial Summary). |
| Report Ageing |
This setting enables you to select a report ageing configuration that will apply to the Statements, Aged WIP and Aged Debtors reports. Two configurations are available. Each contains a different set of ageing periods. |
| End of Year | This is the User Company's financial year-end and will effect the YTD reporting date range. |
| Apply Closed Period | This allows the user to set a closed period. |
| No Entries allowed up to | Before the date no new entries may be made. |
| Default VAT Rate for Time Entries | This option enables you to set a default VAT% value for automatically generated invoice lines for time entries. |
| Default VAT Rate for Expense Entries | This option enables you to set a default VAT% value for automatically generated invoice lines for expense entries. (See above.) |
| Ageing of Statements and Aged Debtors | Specifies whether the ageing of statements and aged debtors is based on the allocation date or the transaction date. |