What this Process Does
This process allows the user to reclassify vouchers to different expenditure or revenue account codes (voided vouchers are automatically excluded; additionally, while you can reclassify an existing balance sheet voucher to an expenditure account or revenue account, you cannot reclassify a voucher as a balance sheet type voucher with this new process). The voucher can be completely reclassified or partially to single or multiple expenditure/revenue accounts.
Best Practice
- This process would be used for processed vouchers (distributed and cleared) as non-processed vouchers can be edited without the need to create offsetting entries and new vouchers.
- The reclassify process automatically sets the bank rec updated flag to true and the updated by flag to RECLASSIFIED on the process tab in the voucher as soon as the reclassification entries are verified (there is no effect on Bank Reconciliation as the offsetting and new vouchers will be to the same bank identification as the original voucher).
Recommendation
- It is recommended that reclassified checks and electronic transmittals be re-archived after reclassification if the stubs contain accounting information (be sure to range on check number or electronic number; and select cleared and not cleared).
Steps to Reclassify Voucher
- Procurement → Vendor Payments → Vendor Master → Vouchers (see additional information for alternative menu path)
- Select the voucher that you want to reclassify.
- From the Accounting Tab, click on the Reclassify Voucher button to the right of the Amount Reclassified field.
- The table below describes the various fields on each tab.
Defaults/Invoice
FIELDS | Opt. | Rec. | Req. | Description |
|---|---|---|---|---|
Override Values | ♦ | — | — | Set to TRUE to override values |
Calendar Year | — | — | ♦ | Calendar Year of Vendor Voucher |
Calendar Month | — | — | ♦ | Calendar Month of Vendor Voucher |
Fiscal Year | — | — | ♦ | Fiscal Year of voucher |
Fiscal Month | — | — | ♦ | Fiscal Month of voucher |
Vendor ID | — | — | ♦ | Unique ID of Vendor |
Vendor Name | — | — | ♦ | Name of vendor; prints on Checks |
Invoice ID | — | — | ♦ | Unique ID assigned to voucher |
Voucher Amount | — | — | ♦ | Dollar amount of Vendor Voucher |
Transaction # | — | — | ♦ | Unique number assigned when voucher created |
Voucher Description | — | ♦ | — | Unique description used for Vendor Voucher |
Reclassify Tab
FIELDS | Opt. | Rec. | Req. | Description |
|---|---|---|---|---|
Expenditures | — | — | — | Display Only Expenditure Totals for Reclassify Spreadsheet |
Revenues | — | — | — | Display Only Revenue Totals for Reclassify Spreadsheet |
Account Code Browse | — | — | ♦ | Select the magnifying glass to get a browse list of Account Codes |
Reclassify Amount | — | — | ♦ | Dollar amount of original voucher to be reclassified |
Account Type | — | — | ♦ | Usually expenditure, but may be Revenue or Balance Sheet |
Account Code | — | — | ♦ | Account Code Vendor Voucher is being reclassified to |
Amount | — | — | ♦ | Dollar amount of line item |
G/L Tab
FIELDS | Opt. | Rec. | Req. | Description |
|---|---|---|---|---|
Use Clearing Fund | ♦ | — | — | If a clearing fund is being used, this boolean will be flagged |
Use Vendor Default Codes | — | ♦ | — | If default account codes were established in the Vendor Master, set to true to use those accounts |
Debit Code | — | — | ♦ | Debit Code of Vendor Voucher |
Payable Code | — | — | ♦ | Payable Code of Vendor Voucher |
Credit Code | — | — | ♦ | Credit Code of Vendor Voucher |
Cash Code | ♦ | — | — | Required if clearing fund is being used, otherwise it will be grayed out |
Due From Code | ♦ | — | — | Required if clearing fund is being used, otherwise it will be grayed out |
Previous Tab
FIELDS | Opt. | Rec. | Req. | Description |
|---|---|---|---|---|
Expenditures | — | — | ♦ | Expenditure Total for vouchers added in current session |
Vendor Total | — | — | ♦ | Vendor Total for vouchers added in current session |
Revenues | — | — | ♦ | Revenue Total for vouchers added in current session |
Invoice Total | — | — | ♦ | Invoice Total for vouchers added in current session |
Debits | — | — | ♦ | Debit Total for vouchers added in current session |
Credits | — | — | ♦ | Credit Total for vouchers added in current session |
Previous Adds List | — | — | ♦ | List of previous vouchers added in current session |
View Voucher | ♦ | — | — | Click to view the current voucher |
Opt. = Optional Rec. = Recommended Req. = Required | ||||