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Accounts

Accounts in TeamConnect let you electronically track posted transactions, such as expenses, tasks, and invoices.

By default, TeamConnect accounts are not tied to actual monetary accounts or billing systems and are provided for record-keeping purposes. There are two types of accounts:

  • Budget—An amount of money set aside by the organization or its individual departments to do business for a specific period of time, such as the fiscal year.
  • Reserve—Money allocated from the budget for the settlement of matters, such as paying outside counsel fees and other costs.

All transactions (tasks, expenses, invoices) can be posted to their designated accounts. Each account can be set to track transactions according to the desired posting criteria, such as a combination of projects, vendors, involved contacts, or types of transactions. If an invoice posts to an account, the Transactions page of both the account and invoice displays the monetary amounts that are debited or credited to the account as a result.

The following flowchart illustrates how you can use accounts.

image

Account Record Pages

There are four account-specific pages:

  • The General page lets you enter information about the account. In addition, you can deposit funds, withdraw funds, or transfer funds.
  • The Transactions page displays a history of the account's posting and voiding status.
  • The Posting Criteria page lets you set criteria for transactions that can post to the account, such as expenses, tasks, invoice expenses, or invoice tasks.
  • The Child Accounts page displays an account's related child accounts.

Viewing Accounts

You can view accounts by browsing Account collections or using the search feature to locate an account.

See Viewing Collections of Records and Searching for Specific Records.

To view accounts

  1. Click the All button.
  2. Click the Accounts link in the left tab bar.
    The recently viewed accounts are listed in the right pane. To open an account record, click an account link in the Name column.

    For information about the areas in the Accounts List page, see User Interface.

Creating or Editing an Account

You can create an account manually using a blank account record or a wizard that guides you through the process step-by-step. You can also create an account record by using an existing account record as a template.

There are several locations where you can add new Account records:

  • From the Accounts list by clicking the New button.
  • From an existing account's Child Accounts page.

After creating an account you must activate the account. Afterward, you can deposit funds, transfer funds, and set transaction posting criteria.

Using a Wizard

Your system administrator may provide one or more wizards to help you create new accounts. A wizard may be one of the available options or the only option.

If a wizard is your only option, when you click New the wizard opens. Complete the required fields on each page, and then click Next to progress to the end of the wizard. When you click Finish at the end of the wizard, the record is available in the appropriate list view and collection. See Viewing Accounts for more information.

NoteIf a wizard is your only option, and you want to use an existing account record to create a new account record, a wizard will not open. A blank account record opens and you can complete the fields manually. See Copying a Record and Creating or Editing an Account Manually for more information.

Creating or Editing an Account Manually

Use the account General page to begin manually creating an account record. Once you save the record, you can edit it at any time.

NoteYour company may allow you to create an account using a wizard only, so the option to create an account manually may not be available. See Using a Wizard for more information.

To create or edit an account manually

  1. Click the Finance tab.
  2. Click the Accounts link on the left tab bar.
  3. Select one of the following options:
    • To create an account, click New.
    • To edit an account, click the Edit Record icon image to the left of an account.
  4. From the General page, the following fields in the Account Information section are required:
    • Name—Enter a name for the account.
    • Account Period Begins—Click the Calendar icon to select the start date.
    • Account Period Ends—Click the Calendar icon to select the end date.

      Transactions can post to the account only between the Account Period start and end dates.
    • Allocation Limit—Enter the maximum amount of money that can be allocated (deposited or transferred) to the account. If you do not want an account to have an allocation limit, set the Allocation Limit to zero ($0.00).
  5. (optional) To enter information in fields that have been created for your company:
    • Click the Categories link in the left pane.
      The Categories page opens. Select the category to add (enable).
    • Click the General link in the left pane.
      A section displays below Notes. Enter the appropriate information in the corresponding fields.
  6. For additional field descriptions, see Account General Page Field Descriptions.
  7. For information about adding categories and details, see Adding or Removing Categories from an Account.
  8. For information about setting posting criteria, see Setting Transaction Posting Criteria.
  9. For information about adding child accounts, see Viewing or Creating Child Accounts.
  10. Select a save option.
    After saving an account, click Activate to add funds to the account.

Account General Page Field Descriptions

Some field descriptions that follow may not display based on system settings and your assigned rights. Field descriptions are listed in alphabetical order and may display in a different order in the application.

Account Information Section Field Descriptions

Field (*=required)

Description

*Account Period Begins

The start of the date range during which transactions can be posted against the account.

NoteTransactions can only post to the account between the Account Period Begins and Account Period Ends date range.

*Account Period Ends

The end of the date range during which transactions can be posted against the account.

NoteTransactions can only post to the account between the Account Period Begins and Account Period Ends date range.

Account Type

Can be one of the following:

  • Budget—An amount of money set aside by the organization or its individual departments to do business for a specific period of time, such as the fiscal year.
  • Reserve—Money allocated from the budget for the settlement of matters, such as paying the outside counsel fees and other costs.

Active

Can be one of the following:

  • Yes—Indicates that the account has been activated. An account must be activated before you can add funds to, subtract funds from, or transfer funds between this account and another account.
  • No—Indicates that the account has not been activated or has been inactivated.

*Allocation Limit

The maximum amount of money that can be allocated (deposited or transferred) to the account. The amount sets a cap for the Total Allocated. If you do not want an account to have a limit, set the Allocation Limit to zero ($0.00).

Allow Posting

If checked, expenses, tasks, or invoices can post against the account record according to the criteria specified on the Posting Criteria tab. See Setting Transaction Posting Criteria.

*Name

The account name.

Notes

Comments for the account.

Overdraft Type

One of the following:

  • Do not allow negative account—No transactions will be posted if the account balance will be negative.
    If you select this option, make sure to deposit enough funds to the account to post transactions. Keep in mind, you can only deposit funds up to your Allocation Limit.
  • Allow negative account—Transactions can still be posted even if the account balance is or will be in the negative.
  • Automatic overdraft protection—Available only when you have a parent account.
    The necessary funds will be automatically transferred from the parent account to the child account so that transactions continue to be posted.

 NoteThe action selected in the Overdraft Type takes effect based on the amount in the Balance field.

Parent Account

The parent account.

NoteRequired when the Automatic overdraft protection option is selected for the Overdraft Type. See also Parent and Child Accounts.

Total Accruals

The sum of all of the transaction amounts created when you post an Accrual invoice.

Account Summary Section Field Descriptions

Field

Description

Add

Click to deposit funds to the account. See Account Add Funds Screen Field Descriptions for field descriptions on the resulting screen.

Balance

The difference between the Total Allocated amount and the Total Used amount:

Balance = Total Allocated - Total Used

Subtract

Click to withdraw funds from the account. See Account Subtract Funds Screen Field Descriptions for field descriptions on the resulting screen.

Total Allocated

The sum of all deposited, transferred funds, and automatic overdrafts from the parent account. The respective activity details are displayed on the Transactions tab.

ImportantThe Total Allocated cannot exceed the Allocation Limit.

Total Used

The total amount of transactions posted, withdrawn, or transferred from the account record.

Transfer From

Click to transfer funds from another account to the current account.

NoteYou can transfer between parent and child accounts only.

Transfer To

Click to transfer funds from the current account to another account.

NoteYou can transfer between parent and child accounts only.

Account Add Funds Screen Field Descriptions

Field (*=required)

Description

*Amount

The numeric Amount to deposit.

Balance

The difference between the Total Allocated amount and the Total Used amount:

Balance = Total Allocated - Total Used

Description

Notes about the transaction.

Account Subtract Funds Screen Field Descriptions

Field (*=required)

Description

*Amount (-)

The numeric Amount to withdraw.

Balance

The difference between the Total Allocated amount and the Total Used amount:

Balance = Total Allocated - Total Used

Description

Notes about the transaction.

Account Notes Section Field Description

Field

Description

Notes

Comments for the account.

NoteIf you enter more than 250 characters without any spaces, you will need to scroll horizontally on the record to view all sections.

 

Account Access Information Section Field Descriptions

Field

Description

Created By

The name of the user who created the account.

Created On

The date that the account was added to TeamConnect.

Modified By

The name of the user who last modified the account.

Modified On

The date on which the account was modified.

Creating a Shadow Invoice Account

A shadow invoice is an invoice that tracks all fees but does not reflect what you actually pay. In order to post shadow invoices to an account, another account must already exist with the same category and posting criteria as the shadow invoice. Most of the time, this account already exists and you do not need to create one.

To find out if a shadow invoice account already exists for this fiscal period, run a custom search from the Accounts page. Under the Filter Criteria, select Account Category as the FieldIs as the Operator, and Shadow Invoice as the Value. Include Account Period Begins and Account Period Ends as the Results Display fields to determine the fiscal periods of any existing records.

If there is no shadow invoice account for the appropriate fiscal period, you can create the account manually using the Accounts pages.

To create a shadow invoice account manually

  1. From the Finance tab, click Accounts.
  2. Click the New button to create an account record.
  3. From the General page, enter or select the following values:
    • Name: Shadow Invoice
    • Account Type: Budget
    • Account Period Begins/Ends: [your fiscal period start date] and [your fiscal period end date]
    • Overdraft Type: Allow negative account
    • Allow Posting: checkbox selected
  4. From the Posting Criteria page, scroll down to the Invoice field and select Shadow Invoice as the primary category.
  5. Save the account.
  6. From the open account click the Activate button at the top of the page.
  7. From the Posting Criteria page, click Edit, scroll down to the Invoices field, and enter or select the following values:
    • Post Invoice Tasks to this Account: checkbox selected
    • Post Invoice Tasks of Type: (ANY)
    • Invoice Task Percent: 100%
    • Post Invoice Expenses to this Account: checkbox selected
    • Post Invoice Expenses of Type: (ANY)
    • Invoice Expense Percent: 100%
  8. Save the account.

NoteIf you change your preferences from budgeting by fiscal period to budgeting without a fiscal period, a shadow invoice might post to two accounts rather than one. In this case, manually deactivate the original shadow invoice account (the one that budgets by fiscal period).

Screen Shot 2017-09-18 at 8.50.19 AM.png

Adding or Removing Categories from an Account

Categories organize similar types of accounts or act like filters that display or hide custom fields related to an account.

Depending on the type of account you are creating or editing, you might add a category that results in the display of related custom fields. Afterward, you can enter information in those custom fields.

After you add a category on an account's Categories page, you can click the General link in the left pane and find a Details section for that category's custom fields. For example, if you added a category called Department, then the General page would be updated to include a Department Details section with related custom fields.

Similarly, if you remove a category from an account, the related custom field(s) will no longer display. For more information, see Setting Category Details.

Parent and Child Accounts

Accounts can be independent or related through a parent-child relationship. Each parent account can have several child accounts, but each child account can have only one parent account. A child account can also be a parent for other accounts. The following flowchart illustrates the parent-child relationship.

2017-09-18_0853.png

Parent accounts are often set to protect their child accounts when there are insufficient funds in the child accounts to cover transactions. You can set up child accounts with Automatic overdraft protection, enabling automatic withdrawal of funds from its parent account to avoid a negative balance.

Take into consideration the following when working with parent and child accounts:

  • You cannot deposit funds directly to child accounts.
  • You can transfer funds from a parent account to a child account, or transfer funds from a child account to a parent account.
  • If you deactivate a parent account, make sure to change the Overdraft Type of the child accounts' General page.
  • The parent account must be able to support its child (children), by either having enough funds (Total Allocated), high or unlimited Allocation Limit, or it must be set up to allow for a negative balance (Overdraft Type Allow negative account).
  • From a parent account, you can only create new accounts from the Child Accounts page. To add child accounts that are already existing, open the child account and select the desired parent account.

Assigning Parent Accounts

On the General page, you can assign a parent account to an existing account. For more information, see Parent and Child Accounts.

To assign a parent account to an existing account

  1. Search for an account that will be the child account and open it.
  2. On the General page, Parent Account field, click the Search Accounts icon. Search and select a parent account.
  3. Select a save option.

Screen Shot 2017-09-18 at 8.57.00 AM.png

Viewing or Creating Child Accounts

On an account's Child Accounts page, you can view its existing child accounts or create a new account and set it as a child account of the original account. For more information, see Parent and Child Accounts.

To view or create a child account

  1. Search for an account that will be the parent account and open it.
  2. Click Child Accounts in the left pane.
  3. Select one of the following options:
    • To view existing child accounts either browse the table or click an account name link to open the child account record.
    • To create a child account, click New Child Account.
      A new Account record is displayed with the original account's name displayed in the Parent Account field.
  4. Enter account information as described in Creating or Editing an Account.
  5. Select a save option.

The newly created account is displayed as a child account on the Child Accounts screen of the originally selected account. The original account is set as the parent account for the newly created child account.

Activating or Deactivating Accounts

Use the General page to activate an existing account. If you are creating an account, you need to save and then activate the account before any transactions can be posted to the account. You must also activate the account before depositing funds or transferring funds between this account and another account. You can also deactivate an account, preventing future transactions from posting to the account.

To activate an account

  1. Search for an account and open it.
  2. From the General page, click Activate.

To deactivate an account

  1. Search for an account and open it.
  2. From the General page, click Deactivate.

Activation for Budget Requests

If you are using the Budget Request feature in Collaborati Spend Management, you must pay special attention to the sequence of activating accounts. The specific event that generates an automatic budget request is the activation of child accounts within a matter. For this reason, you must insure that all other conditions for budget requests have been met before you activate a child account.

The full set of conditions required for automatic generation of budget requests is described in the CSM Administration Guide.

Adding and Subtracting Funds

The ability to add and subtract funds from an account depends on:

  • Whether the account is independent or has a parent-child relationship--You can add funds to a parent account but not to a child account. You can transfer funds from the parent account to its child accounts. You can also transfer funds between child accounts that share the same parent account.
  • The account's Overdraft Type setting on the General page:
    • If Do not allow negative account is selected--Prevents subtracting an amount greater than the current balance.
    • If Allow negative account is selected--No restriction on subtracting from the account.
    • If Automatic overdraft protection is selected--Allows subtracting an amount covered by the parent account's balance.

To add or subtract funds to an account

  1. Search for an account and open it.
  2. Verify that the account has been activated. If an Activate button appears, click Activate. If a Deactivate button appears, the account is already active.
  3. Select one of the following options:
    • Add funds to the account:
    1. In the Account Summary section, click the Add link.
    2. On the Add Funds screen, enter the numeric Amount to amount.
    3. Click Add.
    • Subtract funds from the account:
    1. In the Account Summary section, click the Subtract link.
    2. On the Subtract Funds screen, enter the numeric Amount to subtract. For example, to subtract $2,500, enter 2500.
    3. Click Subtract.

Transferring Funds Between Accounts

You can only transfer funds between accounts that have parent-child relationships. For example, you can transfer funds from a parent account to its child accounts. You can also transfer funds from a child account to its parent account.

To transfer funds between accounts

  1. Search for an account and open it.
  2. Click the Account Summary page.
  3. Complete the following steps, depending on whether you are transferring funds to or from accounts:
    • To transfer funds from the current account to another account
      1. Click Transfer To.
      2. On the Transfer Funds page, click the Search Accounts icon Screen Shot 2017-09-18 at 9.11.12 AM.png next to the To field to search and select an account.
  4. To transfer funds from another account to the current account
    1. Click Transfer From.
    2. On the Transfer Funds page, click the Search Accounts icon Screen Shot 2017-09-18 at 9.11.12 AM.png next to the From field to search for, and then select an account.
  5. Enter the numeric value to transfer in the Amount field.
  6. Click Transfer.

Account Transfer Funds Screens Field Descriptions

Some field descriptions that follow may not display based on system settings and your assigned rights. Field descriptions are listed in alphabetical order and may display in a different order in the application.

Account - Transfer Funds To Screen Field Descriptions

Field (*=required)

Description

*Amount

The numeric value to transfer.

Description

Notes about the transaction.

From

The current account name.

*To

The account to which to transfer funds.

Click the Find icon to search and select an account to transfer funds to.

 

Account - Transfer Funds From Screen Field Descriptions

Field (*=required)

Description

*Amount

The numeric value to transfer.

Description

Notes about the transaction.

*From

The account to transfer funds from.

To

The current account name.

Setting Transaction Posting Criteria

Use the Posting Criteria page to define conditions under which transactions (expenses, tasks, invoice line items) can be posted to the account. Before a transaction is posted to an account, it is compared to the Posting Criteria. You must enable posting tasks, expenses, or invoices to an account on thePosting Criteria page before you can post a transaction.

The following procedures are described below:

You can perform one or more of the following procedures per account.

The following screenshot shows general groupings of transaction posting criteria for posting tasks or expenses.

Screen Shot 2017-09-18 at 9.22.21 AM.png

The following screenshot shows general groupings of transaction posting criteria for posting invoice line items (expense or task type). Although the Projects section is not shown below, you can also add additional posting criteria for an invoice line item's associated project.

Screen Shot 2017-09-18 at 9.23.27 AM.png

Tips

  • If you allow tasks and/or expenses to post to an account, you can also specify additional posting criteria by the associated project and/or task contact or expense contact.
  • If you allow invoice tasks and/or invoice expenses to post to an account, you also can specify additional posting criteria by the associated project and by vendor contact. For invoice line items, you can also restrict posting by line item task type (category), line item expense type (category), and by timekeeper.
  • If you allow posting by more than one transaction type (for example, if you select Post Tasks to this Account and also select Post Expenses to this Account), then any posting criteria you specify under the Project section or This Involved section will apply to all allowed transactions. For example, if you specify posting criteria to transactions associated with a specific project, then only tasks associated with that project or expenses associated with the same project will be able to post.

To set transaction posting criteria for tasks

  1. Search for an account and open it.
  2. Click Edit on the toolbar or click the Edit link in the section that you want to update.
  3. Click Posting Criteria in the left pane.
  4. To allow Tasks to post to this account, in the Task section, select the Post Tasks to this Account check-box.
    This allows all tasks to post to the current account.
  5. Specify how tasks can post to the account in one or more of the following ways:
    • By a task category—In the Task section, select a category from the Post Tasks of Type drop-down list.
    • By a percent amount of the task—Type a numeric percent value in the Task Percent field. For example, if you enter 10 and the task total is $70, then 10% of $70 (or $7) will post to the account.
    • By a task contact—In the Involved section, for the Post Account to this Involved drop-down list, select One. Click the Search Contacts icon next to the This Involved field to search and select a contact.
    • By an associated project—In the Project section, for the Post Project to this Account drop-down list, select One. Click the Search Projects icon next to the This Project field to search and select a project.
    • By an associated project category—In the Project section, for the Post Project to this Account drop-down list, select By Type. In the Post Projects of Type field, select the custom record type (for example, Project). Also select the project category to restrict transactions to.
  6. Select a save option.
    Any posting criteria selected under the Project or Involved sections would also apply to posting expenses or invoice line items.

To set transaction posting criteria for expenses

  1. Search for an account and open it.
  2. Click Edit on the toolbar or click the Edit link in the section that you want to update.
  3. Click Posting Criteria in the left pane.
  4. To allow expenses to post to this account, in the Expense section, select the Post Expenses to this Account check-box.
    This allows all expenses to post to the current account.
  5. Specify how expenses can post to the account in one or more of the following ways:
    • By an expense category—Select a category in the Post Expenses of Category drop- down list.
    • By a percent amount of an expense—Type a numeric percent value in the Expense Percent field. For example, if you enter 10 and the expense total is $70, then 10% of $70 (or $7) will post to the account.
    • By an expense contact—In the Involved section, for the Post Account to this Involved drop-down list, select One. Click the Search Contacts icon next to the This Involved field to search and select a contact.
    • By an associated project—In the Project section, for the Post Project to this Account drop-down list, select One. Click the Search Contacts icon next to the This Project field to search and select a project.
    • By an associated project category—In the Project section, for the Post Project to this Account drop-down list, select Type. In the Post Projects of Type field, select the custom record type (for example, Project). Also select the project category to restrict transactions to.
  6. Select a save option.
    Any posting criteria selected under the Project or Involved sections would also apply to posting tasks or invoice line items.

To set transaction posting criteria for invoice line items

  1. Search for an account and open it.
  2. Click Edit on the toolbar or click the Edit link in the section that you want to update.
  3. Click Posting Criteria in the left pane.
  4. To specify the types of invoices that can post to the account, in the Invoice section, select one or more checkboxes in the Post Invoice Type fields. The options that you select are the only type(s) of invoices that will post to this account. Options are StandardAccrualShadow, or Credit Note. See Account Invoice Section Field Descriptions for more information.

    ImportantIf you do not select an option in the Post Invoice Type area, nothing will post to this account, regardless of the other options that you select on this page.

    There are special considerations for posting Shadow Invoices:
    • An account that allows Shadow Invoices to post cannot have a parent account, or child account, that does not allow Shadow Invoices to post. In other words, the treatment of Shadow Invoices must be consistent throughout a parent-child hierarchy.
    • An account that has not had any invoices posted to it is eligible to have Shadow Invoices posted to it. However, once an invoice that is not a Shadow Invoice has been posted to that account, Shadow Invoices can no longer be posted to it. Conversely, if a Shadow Invoice is the first invoice posted to an account, thereafter no other invoice type will be allowed to post to that account.
  5. To allow invoice task/fee line items to post to this account, in the Invoice section, select the Post Invoice Tasks to this Account check-box.
    This allows all invoice task/fee line items to post to the current account.
  6. Specify how invoice task/fee line items can post to the account in one or more of the following ways:
    • By a task category—Select a category in the Post Invoice Task of Type drop-down list.
    • By a percent amount of an invoice task line item—Type a numeric percent value in the Invoice Task Percent field. For example, if you enter 10 and the task total is $70, then 10% of $70 ($7) will post to the account.
    • By an associated project—In the Project section, for the Posting Project to this Account drop-down list, select One. Click the Search Projects icon next to the This Project field to search and select a project.
    • By an invoice vendor—In the Vendor section, for the Post Account to this Vendor drop- down list, select One. Click the Search Contacts icon next to the This Vendor field to search and select a contact.
    • By an invoice line item timekeeper—In the Involved section, for the Post Account to this Involved drop-down list, select One. Click the Search Contacts icon next to the This Involved field to search and select a contact.
  7. To allow Invoice expense line items to post to this account, in the Invoice section, select the Post Invoice Expenses to this Account check-box.
    This allows all expense line items to post to the current account.
  8. Specify how invoice expense line items can post to the account in one or more of the following ways:
    • By an expense category—Select a category in the Post Invoice Expense of Category drop-down list.
    • By a percent amount of an invoice expense line item—Type a numeric percent value in the Invoice Expense Percent field. For example, if you enter 10 and the expense total is $70, then 10% of $70 (or $7) will post to the account.
    • By an associated project—In the Project section, for the Posting Project to this Account drop-down list, select One. Click the Search Projects icon next to the This Project field to search and select a project.
    • By an invoice vendor—In the Vendor section, for the Post Account to this Vendor drop- down list, select One. Click the Search Contacts icon next to the This Vendor field to search and select a contact.
    • By an invoice line item timekeeper—In the Involved section, Post Account to this Involved drop-down list, select One. Click the Search Contacts icon next to the This Involved field to search and select a contact.
  9. Select a save option.
    Any posting criteria selected under the Project or Involved sections would also apply to posting tasks or expenses.

To set transaction posting criteria for non-US tax accounts

  1. Search for an account and open it.
  2. Click Edit from the toolbar or click the Edit link for the section to update.
  3. Click Posting Criteria from the left pane.
  4. Click the Post Non-US Tax to this Account to allow non-US Tax categories to post to the account.
  5. In the Post Non-US Tax of Type field, select the non-US Tax categories that are allowed to post to this account. Once you select a category, the category and all of its child categories are allowed for this account.
  6. In the Non-US Tax Percent field, enter the percentage of the tax amount that will post to the account.
  7. Select a save option.

To post matter-level taxes to accounts

NoteIf an invoice uploaded from Collaborati has matter-level taxes, you must use these steps to post the invoice to an account.

  1. Search for an account and open it.
  2. Click Edit on the toolbar.
  3. Click Posting Criteria on the left pane.
  4. Depending on whether you need to post fee or expense taxes, place a checkmark in the Post total matter fee tax to this account or the Post total matter expense tax to this account check-boxes.
  5. Select a save option.

To allow accounts to be associated with budget requests

  1. Search for an account and open it.
  2. Click Edit on the toolbar.
  3. Click Posting Criteria on the left pane.
  4. From Posting Project to this Account, select One.
  5. From This Project, select the matter or project you want to associate with this account.
  6. From This Vendor, select the vendor you want to associate with this account. The vendor you select must be an involved party of the project you select in the previous step.
    When you create the budget request, you must specify the same project and vendor for the budget request that you specified for the account. See Creating a Budget Request for more information.
  7. Specify whether you want to post invoice tasks or expenses to this account by placing a check-mark in one or both of the following check-boxes:
    • Post Invoice Tasks to this Account
    • Post Invoice Expenses to this Account
  8. Save the account.

NoteThe account must be current for you to associate a budget request with the account. You must also activate the account after you create the budget request. See Activating or Deactivating Accounts for more information.

Account Posting Criteria Page Field Descriptions

Some field descriptions that follow may or may not display based on system settings and your assigned rights. The following tables provide field descriptions for the Posting Criteria page. The field descriptions are in the order that they appear on the screen. The field descriptions for the Projects, Involved, and Vendor sections are at the bottom of the topic because they are used as secondary filters to the posting criteria for expenses, tasks, and invoice line items (expense and fee).

Account Task Section Field Descriptions

Field

Description

Post Tasks to this Account

If this check-box is selected, tasks will automatically post against the account.

NoteIf the check-box is cleared, disregard the other two fields in this section.

Post Tasks of Type

The task category used as criteria for posting a task to this account. You can select a specific category or select Any.

Once you select a category, the category and all of its child categories are allowed for this account.

Task Percent

The percent amount of a task that can post to this account.

Account Expense Section Field Descriptions

Field

Description

Post Expenses to this Account

If this check-box is selected, expenses will automatically post against the account.

NoteIf the check-box is cleared, disregard the other fields in this section.

Post Expenses of Category

The expense category used as criteria for posting an expense to this account.

Expense Percent

The percent amount of an expense that can post to this account.

Account Project Section Field Descriptions

Field

Description

Post Project to this Account

Can be one of the following:

  • Any—(default) Indicates that there is no restriction for transactions posting to the account based on the associated project. If you select this option, you can leave the other two fields in this section blank.
  • One—Allows you to specify a single project whose associated transactions can be posted against the account. If you select this option, specify This Project field value below.
  • By Type—Allows you to specify the project type (category) whose associated transactions can be posted against the account. If you select this option, specify the Post Projects of Type field value below.

This Project

ImportantRequired if the Post Project to this Account drop-down lists's option, One, is selected.

The project used as criteria for posting a transaction to this account.

Only transactions associated with the project can post against the account. Also the project's Accounts page displays a link to the account.

Post Projects of Type

ImportantRequired if the Post Project to this Account drop-down lists's option, By Type, is selected.

The project category used as criteria for posting a transaction to this account.

Only transactions associated with projects that have this category type enabled can post against the account.

You can select a specific category or select Any.

Once you select a category, the category and all of its child categories are allowed for this project.

Account Involved Section Field Descriptions

Field

Description

Post Account to

Can be one of the following:

  • Any—(default) Indicates that there is no restriction for tasks or expenses posting to the account based on the associated Contact. If you select this option, you can leave the other field in this section blank.
  • One—Allows you to specify the contact associated with tasks or expenses that can post against the account. If you select this option, specify the This Involved field value below.

This Involved

ImportantRequired if the Post Account to drop-down lists's option, One, is selected.

Find and select the desired contact.

Afterward, only tasks or expenses where this contact is specified in the General page, Contact field, can post against the account.

Account Vendor Section Field Descriptions

Field

Description

Post Account to

Can be one of the following:

  • Any—(default) Indicates that there is no restriction for invoice tasks or invoice expenses posting to the account based on the associated Vendor contact. If you select this option, you can leave the other field in this section blank.
  • One—Allows you to specify the Vendor contact associated with invoice tasks or invoice expenses that can post against the account. If you select this option, specify the This Vendor field value below.

This Vendor

ImportantRequired if the Post Account to drop-down list's option, One, is selected.

Find and select the desired vendor contact.

Afterward, only invoice tasks or invoice expenses where this vendor is specified in the General page, Vendor field, can post against the account.

Account Invoice Section Field Descriptions

Field

Description

Post Invoice Type

The type of invoices that can post to this account.

In addition to the typical Standard invoice, additional options are as follows:

  • Credit Note—A legal instrument that corrects a Non-US Tax invoice.
  • Accrual—An estimate of an upcoming bill.
  • Shadow Invoice—A detailed invoice of work performed that is not intended to be actually paid, because an alternate fee arrangement exists between client and vendor. The invoice is posted to allow the client to do financial analysis.

If you do not select an option, no invoices will post to this account.

Post Invoice Tasks to this Account

If this check-box is selected, invoice task line items will automatically post against the account.

NoteIf the check-box is cleared, disregard the following two fields in this section.

Post Invoice Tasks of Type

The invoice line item task category used as criteria for posting an expense to this account.

You can select a specific category or select Any.

Once you select a category, the category and all of its child categories are allowed for this invoice.

Invoice Task Percent

The percent amount of an invoice task line item that can post to this account.

Post Invoice Expenses to this Account

If this check-box is selected, invoice expense line items will automatically post against the account.

NoteIf the check-box is cleared, disregard the following two fields in this section.

Post Invoice Expenses of Type

The invoice line item expense category used as criteria for posting an expense to this account.

Invoice Expenses Percent

The percent amount of an invoice task line item that can post to this account.

Account Taxes Section Field Descriptions

Field

Description

Post Non-US Tax to this Account

Check this check-box to automatically post non-US tax amounts against this account.

NoteIf the check-box has no checkmark, disregard the Post Non-US Tax of Type and Non-US Tax Percent fields.

Post Non-US Tax of Type

Select a type of non-US tax amounts to this account. Any indicates no restriction on tax types.

Non-US Tax Percent

Enter the percent of the non-US tax amount that can post to this account.

Post total matter fee tax to this account

Check this check-box to automatically post matter-level fee taxes against this account. The tax amounts come from invoices uploaded from Collaborati.

Post total matter expense tax to this account

Check this check-box to automatically post matter-level expense taxes against this account. The tax amounts come from invoices uploaded from Collaborati.

Line Item Category Required for Detail Level Non-US Tax to Post

Select the desired radio button to refine the types of Non-US taxes that can be posted to the account. For more detail, see the section below on Refining Non-US Tax Posting. Only available in TeamConnect 4.0.9+

Refining Non-US Tax Posting

Beginning in TeamConnect 4.0.9, users are able to refine account posting criteria to ensure Detail-Level Non-US taxes are posting optimally and as intended. The radio buttons in the image below demonstrate the options available for ensuring what type of Non-US taxes are applied to invoices on this account.

Screen Shot 2017-09-18 at 10.06.04 AM.png

Category Detail Option

Result

All Categories

The Non-US tax chosen to be applied will be applied to all categories on the invoice.

Expense Only

The Non-US tax on the invoice will be applied only to the invoice expense category.

Task Only

The Non-US tax on the invoice will be applied only to the invoice fee category.

Either Expense or Task

The Non-US tax on the invoice will be applied to the expense or fee (task) set for the invoice.

NoteBold items in the table above will be most useful to users with Financial Management. The All Categories option is best suited for users without Financial Management that utilize Detail- Level Non-US taxes on line items.

Viewing Transactions History for an Account

Use the Transactions page to view all financial transactions for an account.

Transactions that are internal to the account include fund additions, fund subtractions, and transfer of funds.

Transactions that are triggered outside of the account can include posting and voiding expenses, posting and voiding tasks, and posting and voiding invoices. These externally triggered transactions are dependent on an account's Posting Criteria page settings. For more information, see Setting Transaction Posting Criteria.

Modifying Account Transactions

You cannot delete or modify account transactions from the Transactions page. If you need to change invoice, task, and expense transactions, you have to void each transaction, edit the respective record, and post the record again.

To change fund additions, subtractions, and transfers you must post reverse transactions. For example, if you added $150,000 to an account and then decide that only $75,000 should have been added, you can make the correction by subtracting $75,000 from the account.

To view transactions history for an account

  1. Search for an account and open it.
  2. Click Transactions from the left pane. For more information about fields, see the following table.

Account Transactions Page Field Descriptions

Field

Description

Search Transactions

Click this link to perform a search using multiple transaction field values as search criteria.

Date

Displays the date the transaction occurred.

Name

Displays the type and number of the record that was posted or voided. If applicable, the invoice type is in parenthesis next to the invoice name.

Vendor

Click the link to view the associated vendor's contact record.

Used For

Click the link to view the record that was posted or voided.

Debit

Displays the monetary amount that was debited from (posted against) the account.

Credit

Displays the monetary amount that was credited to (or voided from) the account.

Transactions per page

Determines the number of transactions that appear on each page. Click the drop-down arrow to change the number.

NoteTo change the default number of records that display per list page across all record types, see Defining Search Result Settings.

Viewing or Creating Account History

From the History page, you can add notes about changes made to an account.

For more information, see Working with Record History.

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