Accounting position

The setup of the accounting position is required in order to use the Revenue recognition and the Allocation of income and expense to the period menus (Accounting > Periodic works). This setup is available from Tools > Setup > General setup > Accounting > Accounting position.

Setting up the status

Under the Accounting position section, specify the following fields:

Field	Description
WIP account	Specify the number of the account for the WIP account.
Account associated with the revenue	Specify the number of the account associated with the revenue.
Account associated with other products	Specify the number of the account associated with other products.
"Customer - Sales invoice accruals" account	Specify the number of the account for the customer invoices to create.
"Customer - Pending credit note" account	Specify the number of the account for the customer credit notes to create.
VAT collected for invoices and credit notes to establish	Specify the number of the account for the VAT collected for invoices and credit notes to establish.
Output VAT on deferred revenue	Specify the number of the account for the output VAT on deferred revenue.
"Unearned income" account	Specify the number of the account for the unearned income.
"Supplier - Receivable invoices" account	Specify the number of the account for the supplier invoices to receive.
"Supplier - Receivable credit notes" account	Specify the number of the account for the supplier credit notes to receive.
VAT recoverable on receivable invoices and credit notes	Specify the number of the account for the VAT recoverable on receivable invoices and credit notes.
Recoverable VAT on deferred expenses	Specify the number of the account for the recoverable VAT on deferred expenses.
"Inventory and WIP" account	Specify the number of the account for the inventory and WIP.
Inventory: write-down of work in progress	Specify the number of the account of the inventory for the write-down of work in progress.
Expenses: write-down of work in progress	Specify the number of the account of the expense for the write-down of work in progress.
Expenses: reversal of the write-down of work in progress	Specify the number of the account of the expense for the write-down of work in progress.
"Prepaid expenses" account	Specify the number of the account for the prepaid expenses.

Under the WIP entry section, specify the following fields:

Field	Description
Automatic generation	Check this box to automatically generate the WIP entries during the revenue recognition.
Generation journal	Specify the journal in which the WIP entries must be stored.

Under the Closing entry section, specify the following fields:

Field	Description
Automatic generation	Check this box to automatically generate the closing entries.
Automatic reversing entry	Check this box to automatically reverse entries.

Under the Pro rata calculation section, choose one of the following options:

Field	Description
In months	Select this option to calculate the pro rata in months.
In exact days	Select this option to calculate the pro rata in exact days.
Based on 360 days	Select this option to calculate the pro rata on a 360 days base.

Under the Allocation of income and expenses to the period section, select one or several options:

Field	Description
A line grouped by balance sheet account	Check this box to have a line grouped by balance sheet account.
Do not log	Check this box to not log the allocation of income and expenses to the period.
Only take validated documents	Check this box to only take into account validated objects.

Under the Detail of situation entries section, choose one of the following options:

Field	Description
An entry grouped on a line by outstanding account	Check this box to get an entry grouped by outstanding account.
Several entries by project and by third-party	Check this box to get several entries by project and by third-party.