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Use an AP Voucher in Conjunction with Revenue Share

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AP Vouchers should only be used with revenue share in very specific situations. Confirm with the Client Success Team if you are unsure about when to use an AP voucher with revenue share. If you use AP vouchers with revenue share, there are no audit details in the AP voucher. The audit details are housed in the standard revenue share.

In addition, both the voucher and the payment must be dated in the exact same month regardless of the allocation timeline. The system will display an error when you attempt to close the books stating that there is outstanding revenues share that needs to be allocated.

For your typical revenue share activities, refer to the practices and resources housed in Revenue Share Overview. Regardless of any situations where AP vouchers and revenue share are used in conjunction, they cannot be posted in bulk. Any steps describing the posting process below are specified on posting and paying the individual voucher before performing the revenue share. 

 

This situation occurs when something like a certificate of deposit (CD) is accruing interest and needs to be allocated across the funds the CD holds rather than into the checking account. 

Create, Post, and Pay the Voucher

  1. Navigate to the Vouchers page and click Create in the left-side menu.
  2. Enter the vendor name in the Choose Vendor field and select the vendor from the drop-down list. 
    vendor selection field
  3. Add the applicable Create Voucher information.
    • Fund - Set the fund to the Revenue Share fund.
      voucher fields

  4. Add the applicable Items information for the voucher, and then click Save.
    • Expense Account - Set the Revenue Account to the corresponding Income Account for the CD interest.
    • Quantity - Set to 1.
    • Unit Cost - Enter a negative amount equaling the total interest amount being allocated away from Checking. 
      save button

  5. Click Post in the left-side menu.
  6. Click Pay in the left-side menu.
  7. Add the applicable Pay Voucher information, and then click Create Check.
    • Account - Set to the checking account used for the voucher, and the check type should be set to electronic. 
    • Check Type - Select Electronic from the drop-down.
      payment page

  8. Click Post in the left-side menu.

The transaction detail will now display that the Checking account has been debited for the amount, and the income has been credited. 

Run the Revenue Share

  1. Navigate to the Revenue Share page and click Create in the left-side menu. 
  2. Click the Date Range that corresponds with the voucher that was created. 
  3. Click Next.
    next button
  4. Click the Revenue Share ID.
    revenue share IDs

  5. Click Set Share Details in the left-side menu. 
    • If Set Share Details needs to be changed, the previous Revenue Share entry must be unposted and deleted first. 
  6. Check the boxes next to the Investment Asset accounts to set the allocation percentages across the funds, and then click Next. 
    investment accounts

  7. Click Post in the left-side menu.

AP Vouchers can also be used with revenue share when a physical check needs to be paid for investment fees, and it needs to be allocated across an investment pool.

Create, Post, and Pay the Voucher

  1. Navigate to the Vouchers page and click Create in the left-side menu.
  2. Enter the vendor name in the Choose Vendor field and select the vendor from the drop-down list. 
    vendor selection field
  3. Add the applicable Create Voucher information.
    • Fund - Set the fund to the Revenue Share fund.
      voucher fields

  4. Add the applicable Items information for the voucher, and then click Save.
    • Expense Account - Set the Expense Account to the corresponding Expense Account for the investment fees.
    • Quantity - Set the quantity to 1.
    • Unit Cost - Enter a positive amount equaling the total interest amount being allocated.
      voucher item

  5. Click Post in the left-side menu.
  6. Click Pay in the left-side menu.
  7. Add the applicable Pay Voucher information, and then click Create Check.
    • Account - Set to the checking account used for the voucher, and the check type should be set to electronic. 
    • Check Type - Select Electronic from the drop-down.
      check page

  8. Click Post in the left-side menu.

Run the Revenue Share

  1. Navigate to the Revenue Share page and click Create in the left-side menu. 
  2. Click the Date Range that corresponds with the voucher that was created. 
  3. Click Next.
    next button
  4. Click the Revenue Share ID.
    revenue share IDs

  5. Click Set Share Details in the left-side menu. 
    • If Set Share Details needs to be changed, the previous Revenue Share entry must be unposted and deleted first. 
  6. Check the boxes next to the Investment Asset accounts to set the allocation percentages across the funds, and then click Next. 
    investment accounts

  7. Click Post in the left-side menu.

 

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