Accounting settings

Use the Accounting settings page to tailor VOGSY’s accounting module to the needs of your business.

The table below explains the settings you can define:

Name Description Required?

Account type time entry

Specify the journal for the booking of time entries.

Y

Account type project sales

Specify the journal for the booking of project sales.

Y

Account type purchase invoice

Specify the journal for the booking of purchase invoices.

Y

Account type expenses

Specify the journal for the booking of expenses.

Y

Default account type for automatic invoice payment (SEPA)

Specify the journal for the booking of invoice payments (SEPA).

N

Accounts receivable ledger account

Specify the ledger account to use for financial transactions related to Accounts receivable.

Y

Accounts payable ledger account

Specify the ledger account to use for financial transactions related to Accounts payable.

Y

Enable different currencies per company

Select this check box to enable VOGSY’s multi-currency feature, which makes it easy for multi-national organizations to set up companies with different currencies, track international projects in their local currencies, and connect local finance packages.

N

Next invoice number

Enter your company’s next available invoice number. This option does not display if you selected the Use separate invoice number ranges per company check box.

Y

Send XML file with emailed invoices

Select this check box if you want to send an XML file of the invoice in Universal Business Language (UBL) format when emailing a customer a PDF invoice.

N

Deliverables shown at Valuation of work in progress

Select Fixed price deliverables with an expected loss or expected profit if you want VOGSY to display, in the Work in Progress chart, only deliverables with an expected loss or expected profit. Select All fixed price deliverables if you want VOGSY, in the Work in Progress chart, to offer you all fixed price deliverables.


Whenever something changes on a fixed price deliverable, VOGSY can predict whether it will result in a profit or a loss. The calculation of the expected loss or profit is based on the order value, actual costs and the percentage of completion of the deliverable.


There is an expected loss when the actual costs are greater than the order value.


There is an expected profit when the expected costs are less than the order value. The expected costs are calculated by expanding the actual costs with the percentage of completion.

N

Minimal percentage complete of deliverable needed to calculate expected profit

In conjunction with the Deliverables shown at Valuation of work in progress setting, VOGSY will only use deliverables that have reached the percentage of completion value specified in this field to calculate the expected profit for the Work in Progress chart.

N

Calculate Work In Progress using

This setting determines which amount will be used when making the following journal entries:

  • When approving time entries

  • When approving purchase invoices

  • When approving expenses

  • When invoicing time entries for Time & Materials projects

  • When approving provisions

  • When closing a project


Select Cost amounts if you want VOGSY to use cost rates and amounts for these tasks; otherwise, select Sales amounts. By default, VOGSY uses cost amounts.

Y

Intercompany cost rates

Select this option if you want the intercompany cost rate, which is part of the VOGSY’s multi-currency feature, to be used when calculating project margins, budgets, and work in progress journal entries. You can use the intercompany cost rate when your resources are tracking time on projects belonging to a sister company.

N

Use the employee department for coverage

Select this option if you want coverage to be booked in the employee’s department instead of in the department of the deliverable. Additional bookings will be made to book the coverage on the department of the employee. This additional booking can be configured using the Use the current accounts for intercompany cross charges option that will appear when you select this check box.

N

Use the current accounts for intercompany cross charges

This option appears if you select the Use the employee department for coverage option. Select this option if you want additional journal entries to be generated when an employee records time on a project or deliverable for a company other than their home company. If you select this option a Current Accounts section will display where you set up the accounts for these extra journal entries.

N