Overview

iVendNext’s Accounting Dimensions let you tag transactions by Branch, Department, Project, or Cost Center. This improves financial tracking and reporting without cluttering your Chart of Accounts. For example, if your business operates in multiple locations or has different departments, you can use Accounting Dimensions to track income and expenses for each location or department separately. This ensures that your financial reports are more granular and actionable.

How to Create and Manage Accounting Dimensions

Creating Accounting Dimensions in iVendNext is a straightforward process. Here’s how you can do it:

1. Navigate to Accounting Dimensions:

• Go to Home > Accounting > Cost Center and Budgeting > Accounting Dimensions.

2. Create a New Dimension:

• Click on New to create a new Accounting Dimension.

• Select the Reference Document (e.g., Department, Branch, etc.) that you want to use as the basis for your dimension.

• Enter a Name for the dimension (this will appear in transactions and reports).

3. Set Default Dimensions:

• In the Dimension Defaults table, you can set company-specific default dimensions. This ensures that the dimension is automatically applied to transactions for that company.

• Check the Mandatory checkbox if you want the dimension to be required in all relevant transactions.

4. Save and Submit:

• Once you’ve configured the dimension, click Save and Submit to activate it.

Using Accounting Dimensions in Transactions

Once you’ve created Accounting Dimensions, you can start using them in your transactions. Here’s how:

1. Tagging Transactions with Dimensions:

• When creating a transaction (e.g., Sales Invoice, Purchase Invoice, Journal Entry), you’ll see an Accounting Dimensions section.

• Select the appropriate dimension (e.g., Department, Branch) from the dropdown menu.

2. Automatic Defaults:

• If you’ve set default dimensions for a company, they will automatically appear in the transaction. You can modify them if needed.

3. Mandatory Dimensions:

• If a dimension is marked as mandatory, the system will not allow you to submit the transaction until the dimension is filled in.

Filtering Reports Based on Dimensions

One of the key benefits of Accounting Dimensions is the ability to filter financial reports based on specific dimensions. This allows you to analyze your financial data in a more targeted way.

1. Profit and Loss Statement:

• You can filter the Profit and Loss Statement by dimensions like Department or Branch to see how each segment is performing.

2. Balance Sheet:

• Similarly, you can filter the Balance Sheet to view assets and liabilities for specific dimensions.

3. General Ledger:

• The General Ledger report can also be filtered by dimensions, giving you a detailed view of transactions for each segment.

Making Accounting Dimensions Mandatory

If you want to ensure that certain dimensions are always used in specific types of accounts, you can make them mandatory:

1. Mandatory for Profit and Loss Accounts:

• Check the Mandatory for Profit and Loss Account checkbox to ensure that the dimension is always tagged in income and expense transactions.

2. Mandatory for Balance Sheet Accounts:

• Check the Mandatory for Balance Sheet checkbox to ensure that the dimension is always tagged in asset and liability transactions.

Disabling Accounting Dimensions

If an Accounting Dimension is no longer needed, you can disable it without affecting past transactions:

1. Disabling a Dimension:

• Go to the Accounting Dimensions list and select the dimension you want to disable.

• Uncheck the Enabled checkbox and save the changes.

2. Impact on Past Transactions:

• Disabling a dimension will not affect transactions that were already tagged with it. Those transactions will remain intact.