Voucher Tips

Two Places Payment Vouchers Can Be Entered

• Payment Vouchers- (invoices that are not yet ready to be paid, these will show up on Aged Open Items report and Cash Requirement report).
• Quick Checks- created on the fly when the check is ready to be printed.

Two Types of Vouchers

• A/P Voucher- to pay firm expenses or expenses that are distributed to a client/matter
• Trust Voucher- used for checks that are to be written from client’s trust account to pay for expenses.

 Voucher Date

• Defaults to system date but can be changed.
• If firm is on accrual basis, the voucher date is the date used to create the journal entries in the G/L when the voucher is posted.
• Whether on cash or accrual, this will also be the date of the expense entry that will show up on the client’s prebill.

Invoice Date

• Defaults to system date but can be changed.
• The firm receives an invoice dated in a previous period or even previous year.  The voucher date will be the date that the journal entries are created when the voucher is posted.  If the firm uses the actual date on the invoice for the voucher date, the journal entries will appear on the previous period’s G.L. account and will change those financial statements.  The firm may choose to leave the voucher date as today’s date and change the invoice date to reflect the true date of the invoice.   This will accurately age the invoice if the firm prints the Aged Open Items report and Cash Requirements report and chooses to age by Invoice Date.  Also, if the invoice date is on the check stub, when the vendor receives the check they will recognize this is payment for the aged invoice.  

A/P Account and Default Distribution Account:

• If on accrual basis, the A/P account gets credited when the voucher is posted.If on accrual basis, the Default Distribution Account will be debited when the voucher is posted.

 G/L Distributions and Expense Distributions:

• The entire invoice must be distributed before the voucher can be saved.
• The NOTE field appears on the prebill but not the final bill (expense dist)

Voiding Vouchers:

• Vouchers/Tools/Void Selected- This creates a 0.00 check behind the scenes (if a payment has not been made against the voucher)
• Vendor Inquiry- go to the unpaid vouchers tab (if a payment has not been made against the voucher)
• Void Checks- (if payment has been made against the voucher).