Entity Codes User Guide

Transcription

1 Entity Codes User Guide Created in version /16

2 Table of Contents Entity Codes... 2 Overview... 3 Create a New Entity... 4 Set up Periods... 5 Ledger End of Period... 6 Backup... 6 Print Reports... 7 End of Period... 8 End of Month... 8 End of Year... 9 Entity Codes Within Entity Codes you can view the default details currently in place for the Finance Module of PCSchool. Entity Codes also give access to the Ledger End of Period for both the monthly and annual rollover. Created in version /16

3 Overview DO NOT DELETE the Entity, College that is shipped with PCSchool, this entity is attached to a default chart and period identifiers. You can change the description to the school/college name for this Entity but you must not change the Code. 1. DO NOT DELETE OR CHANGE the default Entity Code of COLLEGE. 2. You can change the Description to the name of your school. 3. Once entered the Initial Calendar Month and Current Period should not be altered. 4. The default accounts can be changed. 5. The GST Acct Method should only be changed with help from PCSchool. 6. Consolidate Receipts and Payroll Transactions can be checked to have the Batches show as one amount instead of single entries, this is mainly for reports. 7. Ledger End of Period; read further. 8. Once entered the Period descriptions would not normally be changed. 9. Click Save after any changes. Only use with CAUTION. This will automatically update posting accounts with GST coding matching the Model Accounts; 10. This routine will automatically overwrite any manually modified GST coding previously attached to the posting accounts 11. Only use with CAUTION. This will Delete the Chart. 12. Only use with CAUTION. You have the option of zeroing all data from a Chart; Creditor, Debtor and Payroll modules may be integrated with the General Ledger, any open batches in these subsidiary ledgers must be finalised before performing this routine Failure to follow this procedure will result in an inability to finalise any previously opened batches. Created in version /16

4 Create a New Entity You can create multiple Entities and attach them to their own Chart of Accounts for the different streams of financial administration within the private school system. Each Entity must have an established bank account. An entity cannot interact with another entity, for example, journals are not allowed between a bank account attached to Entity No 1 and the bank account attached to Entity No 2 even if the Bank accounts are the same as these are in separate charts. Separate entities could be, one chart for the financial administration of the school and a separate chart for the church financial administration. Enter the Header information. 1. Click Clear Screen or F5 to clear the window. 2. Enter a meaningful unique Code, this can be alphanumeric. 3. Enter a Description for this entity. 4. Enter an number from 1 to 12 for the first month of the Financial Year; January = 1, February = 2, July = 7 etc. 5. Enter the Current period of the Financial year. 6. Enter the general ledger default Bank Account Code on which funds will be drawn. 7. Enter the general ledger default Sundry Creditor Account Code. 8. Enter the general ledger default Discount Creditor Account Code. 9. Select the GST Accounting method; A = Non Cash (Accrual), C Cash. 10. For Second or multiple Entities enter the Payroll Group/ Supplier Number. Consolidate Receipts and Payroll Transactions can be checked to have the Batches show 11. as one amount instead of single entries, this is mainly for reports. 12. When prompted to save click Yes. Created in version /16

5 Set up Periods Enter the details for the Periods you will be using with this Entity and Chart of Accounts. 1. Period Enter 1 as the first Period, this does not change. 2. Period Desc Enter the first Calendar Month of your financial year; January, February and so on. 3. Month This is the Calendar month; January = 1, April = 4 and so on. 4. Year Range Enter the Year this is appertaining to. 5. EOY Place a tick in the last Period for your Financial year; This tick will trigger a Roll Over into the next financial year. Enter the Previous Year; 6. Previous Year Although you may be starting in the Current Year still enter a Description Previous Year as you may wish to finalise batches to a previous period to change year opening balances. 7. Create Chart Once the Period details are entered click Create Chart. You will now be able to select the new Entity. Created in version /16

6 Ledger End of Period Prior to running either the End of Month or End of Year procedure make sure you have a current backup, have printed any necessary reports and that All Batches are finalised. Backup Path: Finance Utilities Backup If this is an End of Month rollover it is recommended you have a current backup of data and stop all processing to Debtors Receipting and the Finance Module, the Backup can be completed while PCSchool is being used. If this is an End of Year rollover you must have everyone out of PCSchool, and then create a current Backup. 1. Click Select All. 2. All the boxes should be ticked. 3. Click Backup Data. Created in version /16

7 At the next window accept the defaults, this file will be saved under PCSchool/ Backup with the file name including the date and time. 1. Click Create Backup. 2. When the Backup is complete click OK. Print Reports Print monthly reports for auditing purposes, e.g. Trial Balance, Income & Expenditure Statement, Balance Sheet and Transactions Listings if required before proceeding. Note: It is, however, possible to print these reports for any period within the current and prior year at any given time. Finalise All Batches. And print the Trial Balance Created in version /16

8 End of Period Path: Path: Finance General Ledger Ledger End of Month Finance System Entity Codes The Ledger End of Month and Ledger End of Year are both run from the same place. End of Month Go straight to Ledger End of Period, the other details in the view are appertaining to the Entity. 1. Select the Entity you are Rolling. 2. Click Ledger End of Period. 3. The Current Period is View only. 4. The Next Period will default to the Period ID s in the General Ledger. 5. Click Perform End of Period. Created in version /16

9 Once the Rollover is completed you will be informed the system will look for Pending Batches, normally you will only have pending batches with an End of Year rollover. Click OK for the End of Month process. End of Year The End of Year Procedure is processed in the same manner as an End of Month except for; Pending batches may need to be finalised A snapshot is created. Budgets can be created The next year s description needs to be entered A Trial Balance should be printed immediately before and after the Rollover. This comparison of reports enables early detection of any problems, the backup can be re-installed and the End of Period process re-done. All income and expenditure transactions for the year, such as Non Balance Sheet items will be totalled and automatically journalled to the Default End of Year Clearing Account with consolidation of the figures to the Accumulated Funds (Default Capital) Account. The End of Year Clearing account is set up as an Expense Account in the standard Chart to enable clearance to the Accumulated Funds (Default Capital) Account. Details of these two end-of-year control accounts are recorded under Utilities/ System File Maintenance/ Financial System Details; Default Capital Account Default End of Year Clearing Acc Created in version /16

10 1. The last Period of the Financial Year will have a tick in it. 2. Click Ledger End of Period. 3. The Current Period and the Next Period will both have the same Year showing as the next Year has not yet been created in the system. 4. This will display the Next Period but the Year will not yet reflect it. 5. Tick, This is a Year End. 6. Enter the Following Year numeric value. 7. Optional; Only select Budget details if you are certain they are required; Budgets can be created at a later time. 8. Click Perform End of Period. At the next Window click Yes. Created in version /16

11 You will be asked if you wish to create a Snapshot, if this is the first time you are running this answer Yes. This will create a full working copy of PCSchool at this point in time. Once you answer OK to this step PCSchool will close. You will need to reopen PCSchool and repeat the process but omit the step to create a Snapshot, once this has been completed check the Ledger has Rolled. Created in version /16

12 When you rerun the Rollover you will say no to the Snapshot, the Rollover will take place. If any unfinalised batches are located in Debtors or the General Ledger the system will offer you the option of finalising the batch. If any debtor receipt batches have not been finalised the rollover will be cancelled and you will be prompted to finalise these types of batches within the Debtors module before proceeding further You will be asked if you want the System to search for Pending Batches, you must answer OK. All the Pending batches will come up one at a Time displaying the Period they are to be finalised into. It is your choice to say OK and finalise the Batches or to Cane and leave them in Pending to be finalised at a later date. You can check the Rollover has been completed by re-entering Entity Codes or Ledger End of Month and checking the Year Range and Previous Year Description are updated. Created in version /16

13 The previous Workarea will now be available for selection upon entry to PCSchool. Created in version /16

14 OPTIONAL It is optional to create the.ws file and register the workspace. Create the.ws file. 1. Log into PCSchool s Main Menu. 2. Highlight the Work Area. 3. Click Tools. 4. Select File Maintenance and click OK. If File Maintenance is not available you do not have the security to go further. 5. Click OK to create the.ws file. Created in version /16

15 At the next window click Yes. 1. Click on File/ Select Workspace. 2. Click the Browse button. 3. Browse and select the newly created.ws file. 4. Click Open. Created in version /16

16 Register the Workspace. At the next window click OK. Then click OK again to finish the registration. Created in version /16