General Accounting Processes

Overview of the steps taken in Function Point to integrate completed invoices and external expenses into your accounting cycle.

Preliminaries

  1. Ensure your Chart of Accounts is set up properly (access is permission based and in the ADMIN area).
  2. Assign Income Accounts to all services and expenses (access is permission based and in the ADMIN area).

External Expenses/PO Process

  1. Create PO for Vendor/Supplier (if necessary).
  2. Enter information from your Vendor's invoice in the Expense form.
  3. Manually mark expenses as "Posted" in preparation to export to Accounting system (either through fp.Accountant for QuickBooks or using an .iif or .txt file).
  4. Export (Sync) external expenses. fp. will mark them as Exported.

Invoice Process

  1. Make sure Rates are set up (access is permission based and in the ADMIN area)..
  2. Create Invoices & send to client.
  3. Manually mark invoices as "Posted" in preparation to export to Accounting system (either through fp.Accountant or using an .iif or .txt file).
  4. Export (Sync) invoices. fp will mark them as Exported.

Individually Marking Invoices or External Expenses as “Posted”

Once the invoice or expense has been completed, in the respective Details page, find the yellow text that says “Unposted”.

Mouse over the text and click ONCE.

The text colour will change to orange and the word will change to “Posted”. Invoices and external expenses must be marked as posted for them to be exported to your accounting software.

Once the invoice or expense has been exported, the text will change to green and read “Exported”. (You can also manually mark an invoice or expenses as Exported, but the data will not be synced/exported.)

Instructions for syncing data using fp.Accountant for QuickBooks are HERE (near the bottom of the page).

Instructions for exporting .iif files (QuickBooks, manual export/import) re HERE. This same process can be used to export other file types based on your Accounting software. (Import procedures may vary.)

If, after you have exported an invoice or expense, you realize that you need to change something, you can also manually change “Exported” to “Repost”. You can also change “Repost” back to “Unposted” to start over.

** Use “Repost” if you need to update a record you have already exported.

** Mark as “Unposted” then “Posted” if you are re-doing a record you have already posted.

Changing the Exported Status of Invoices and External Expenses in a Batch

You may find yourself in a situation where you need to mark multiple invoices or expenses as Posted at a time. To bring up a list of all the Invoices or expenses you need to change to posted follow these steps:

  1. Start by using the Find feature for Invoices or Expenses (the steps are the same for each).
  2. Set the parameter in Exported Status to Unposted.
  3. Set any other parameters you need to (date range, company, etc.) and click "Find" on the bottom right.

In the Find list that follows, locate the button on the top right that looks like a white circle with a green right-facing arrow in it. Click on this button.

This produces the External Expense report (also used as part of the export process for accounting programs other than QuickBooks for PC).

The far right column shows the Export status. Simply click once on the yellow text to change it to orange/"Posted".

Continue doing this all the way down the column.

When you are done, simply close this tab or window. Do not click on “Export by Batch” unless you want to create an export file for a program other than QuickBooks. (Doing so will mark the Posted items as Exported.)

Instructions for syncing data using fp.Accountant for QuickBooks are HERE (near the bottom of the page).

Instructions for exporting .iif files (QuickBooks, manual export/import) re HERE. This same process can be used to export other file types based on your Accounting software. (Import procedures may vary.)

Once the invoices and external expenses have been exported from fp, the rest of the accounting cycle (ie. billing, payments, payroll) are all done through your accounting software.

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