AIMS. General Ledger Version 6.3 May 1, 2006

Transcription

1 AIMS General Ledger Version 6.3 May 1, 2006 Copyright Western Canadian Software, 2006

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3 TABLE OF CONTENTS What About General Ledger?... 1 Module Topics... 2 General Ledger Menu Options... 9 File Maintenance Menu...10 Account Maintenance...11 Branch Maintenance...16 Centre Maintenance...17 Period End Date Maintenance...18 Budget File Maintenance...19 Recurring Journal Maintenance...20 Journal Entry Processing...21 Create Update Journal Entries...22 Create Recurring Entries Batch...25 Create Currency Revaluation Batch...25 Create Batch of Allocation Journal Entries...26 Post Journal Entries to G/L...27 Month End Processing...28 Utilities...30 Delete Transaction History...31 Change Account Number...31 Merge G/L Accounts...32 Account Transactions...33 Financial Statements Inquiry...35 Batch Inquiry...37 History Inquiry...38 Account Inquiry...39 Chart of Accounts List...41 Budget Reports...42 Budget Input Form Month Budget Listing...44 Batch Listings...44 Journal Reports...45 General Ledger List...46 Financial Statements Menu...47 Trial Balance...48 Simple Balance Sheet...49 Simple Income Statement...50 Comparative Income Statement...51 Budgeted Income Statement Month Income Statement...53 Quarterly Income Statement...54 Year End Forecast Report...55

4 - Consolidation Menu...56 Consolidate Companies...57 Consolidation Journal Entries...58 Post Consolidation Journal Entries...59 Financial Statements Inquiry...60 Consolidation Reporting...61 Consolidation Statement Formatter...62 Statement Formatter Menu...62

5 What About General Ledger? The General Ledger module has been designed to: Maintain the G/L chart of accounts Maintain budget amounts Create and post journal entries Accommodate recurring journal entries Accommodate auto-reversing entries Accommodate allocation entries Accommodate currency revaluation entries Print financial reports and statements Provide useful online inquiries Perform multi-company consolidations Files include: Account Master (GL-MSTR) Account Notes (GL-NOTE) Allocation (GL-ALLOC) Department (GL-DEPT) Centre (GL-CTR) Period End Dates (GL-PEND) Budget (GL-BUDG) Batch Header (GL-JOURI) Batch Header History (GL-HISH) Transaction (GL-TRAN) Transaction History (GL-HIST) Recurring Transaction (GL-RECU) Document Link (GL-LINK) Consolidation Master (GL- CONM) Consolidation Budgets (GL-CONB) Consolidation Journal Entries (GL-CONJ) What About General Ledger? 1

6 Module Topics Account Number Structure The account number structure is defined in the System Master file. It can be divided into three sections: main account number, branch and cost centre. The main account number must have between four and eleven digits. The branch can have up to four digits and the cost centre can be up to three. Together the entire account may not exceed sixteen digits. An example of an account number with a three level structure is The 4000 denotes a sales account, the 04 shows the sales account is at branch 04 (e.g. Montreal), and the 030 says the account pertains to cost centre 030 (e.g. parts). Another example could be , where 7200 denotes the travel account, 04 is again the branch and 010 represents a salesperson (e.g. Terry Evans). If you don t have multiple branches, then usually only two levels are required. Account Roll Up Statements can be summarized to the account or branch level. For example, if you select account level, then all branch and centre balances will be rolled up into the main account, and only this account will display. For this roll up feature, always have one main account code with zeros for the branch and centre, this will hold the summarized account description. The First Digit Having a coding structure for your first digit can save time formatting custom statements and searching for accounts. The most popular system is as follows: 1 Assets 2 Liabilities 3 Equity 4 Revenue 5 Cost Of Sales 6 Operating Expenses 7 Marketing and Selling Expenses 8 Administrative Expenses 9 Other Revenue and Expenses Assuming you have a four digit main account code, number current assets in the series and fixed assets from ; do likewise with current and long-term liabilities. Accounts starting with 9 include Gain/Loss on Foreign Exchange, Gain/Loss on Disposals, Extraordinary Income, Provision for Taxes, Shareholder Bonuses, Mafia Surcharges, etc. Module Topics 2

7 Formatting the Chart of Accounts Financial statements can be formatted by adding special heading and total accounts to the chart of accounts. The system has separate level codes to facilitate headings and totals. Make sure you format the chart of accounts even if you use the Statement Formatter. This way you can balance your statements from the Statement Formatter with those made from the chart of accounts. Deleting an Account The system does not let you delete an account that has transactions. Before deleting, the system checks the Transaction file (GL-TRAN) and the Transaction History file (GL-HIST) for entries. The Account Master file (GL-MSTR) is also checked for balances in the current year, prior year, and prior year 2 buckets. Journal Entries and Posting Journal entries are entered in batches. Batches can be created from another module interfaced to the G/L, or from within the G/L module itself. The Journal Entry program (option #13-10) allows you to create or change journal entry batches. Monthly recurring journal entries can be maintained through option #12. A G/L batch is created from these entries every month using option # All journal entries are posted through option # The date stored with each batch is used as the posting date. Only batches with a batch date equal to the current month or before will post. Batches with a batch date in the future remain unposted. Out-of-balance entries do not post, regardless of batch date. Allocations You may create an allocation table for any G/L account. This lets you make journal entries to one account throughout the month, then allocate the balance in the account to other accounts at month-end. The allocation table created in Account File Maintenance specifies each account and the associated percentage of the balance to allocate to it. Once all entries are posted for the month, run option # It uses each account s allocation table to create a batch of entries to allocate the original account s balance to other accounts. Option #20 has a Set Next Key option to view only allocated accounts and the Chart Of Accounts listing has an option to show allocation details. Module Topics 3

8 Automatic Reversing Journal Entries The system can create auto-reversing journal entries for any batch. If the auto-reversing flag for the batch is set to Y when the original batch is posted, the system creates a corresponding reversing journal entry batch with a batch date equal to the first day of the following month. This feature allows you to enter batches that must be reversed, without having to create the reversing batch as well. Entering Opening Balances If your system is installed in the middle of the fiscal year, enter opening balances one of two ways. The first is to enter year-to-date balances for each account through journal entries into the previous month, then close the month. The current month s transactions can then be entered. The second method is to begin the system at the first month of the current year. Enter the closing balances for the first month (via Journal Entry Processing), then perform month-end. Next, enter the second month closing balances, do the month-end procedures, and continue until you reach the current month. This procedure is preferable as the comparative inquiries and reports are more meaningful with monthly balances. How Information is Stored The system stores balances for G/L accounts in the Account Master file. Balances for revenue and expense accounts (i.e. income statement accounts) are stored for each month. For asset and liability accounts (i.e. balance sheet accounts), only the closing balance is kept. Retained Earnings Accounts You must specify two retained earnings account in the System Master file. Current Year Earnings, which equals the current year s net profit on the Income Statement, and Opening Retained Earnings, which gets posted to at year-end with the calculated profit or loss for the year. The system calculates Current Year Earnings by determining the difference between revenues and expenses for the current year and adding this amount to the values posted in this account. As a result, typically no entry should ever be posted to the Current Year Earnings account. If you wish to have only one retained earnings account, simply specify the same account in the System Master file for both current and opening. Module Topics 4

9 Brackets Brackets print on all reports and inquiries if the account balance is opposite its normal sign. In other words, if an asset or expense has a credit balance and if a liability or revenue account has a debit balance. Batch Source Codes All batches are assigned a source code and user name to indicate where the batch originated. Source codes are almost always in the format of XX-XX, where the first two characters indicate the module (e.g. AP ) and the last two signify the option (e.g. PB for post bills). Batch listings can be selected for any source through option #32. Forcing Job Costing and Fixed Assets Disbursements If using the Job Costing or Fixed Asset modules, the A/R Direct Entry program and the A/P Invoice Entry program calculate the amount to disburse to Job Costing or Fixed Assets based on the G/L disbursement. Define G/L accounts as having J/C or F/A links. Link questions appear in Account Maintenance only if the G/L flag in the Job Costing and Fixed Asset sections of the System Master file are set to Y. The amount disbursed to each of these linked accounts for the G/L journal entry is accumulated in the J/C or F/A proof amounts. You can then disburse this proof amount to any number of jobs or assets. Consolidations The consolidation feature simply combines the general ledgers of companies selected into one new Consolidation Master file. It also creates a Consolidation Budgets file. You may choose specific companies to consolidate, or consolidate all companies. To establish the format for the consolidated financial statement, the system takes the nonposting accounts from company number 01 if ALL companies is chosen, or from the first company in a specified list. Consolidation journal entries to eliminate inter-company accounts are entered and posted to the Consolidated Master file. Consolidated financial statements can then be printed. Module Topics 5

10 Sample Month End Procedures A typical month-end procedure is as follows: 1. Check for out-of-balance batches using option #22 and correct them. 2. View the Trial Balance (#21) to ensure ending proof totals are zero. 3. Balance the cash account to bank reconciliation and balance all subledgers to their listings. 4. Perform a reasonabilty check of financial statements using option #21. Make and post all corrections. 5. Print all desired financial statements. 6. Run Month End Processing (option #14). Discuss your specific month-end procedures with your WCS account manager and include them as part of your System Doctor. Sample Year End Procedures After running month end for the final month of the year, the system automatically runs year-end processing. A typical year-end procedure is as follows: 1. Run the General Ledger List (option #34) for the entire year. 2. Check the Period End Date Table to ensure the period end dates are correct. If your period end dates equal the last day of the month, check February for a leap year. Discuss your specific year-end procedures with your WCS account manager and include them as part of your System Doctor. Year End Journal Entries There are two ways to deal with year-end entries from your outside accountants. Either run your last month-end of the year (thereby evoking year-end) and make any adjusting entries to Retained Earnings in the new year; or leave your year open until year-end entries can be made into your final month. In the second case, continue with your normal month-end routine (i.e. balancing and printing statements) but don t run the month-end program. When inquiring or reporting, use the option of Next Year. Module Topics 6

11 Training Guide 1. Module Overview a. Understand the current system, including financial statements. b. Review the module discussing every menu option and show the data flow. c. Discuss the length and structure of the G/L account code. Discuss the formatting structure for the chart of accounts. Discuss and update the G/L section of the System Master file. 2. Master File Entry a. Set up branch and centre descriptions, and the Period End Table. b. Show how to add, change and delete accounts through Account Maintenance (#10-10). Discuss allocations. c. Show the Financial Statements Inquiry (#21) and the Account Inquiry (#24), and print the Chart of Accounts List (#30). d. Print the Simple Income Statement and Simple Balance Sheet to ensure they are formatted correctly. e. Set up the TEST System. 3. Transaction Entry (in TEST System) a. Train on the Journal Entry program (#13-10). Explain batches and how only batches with a batch date in the current month are posted. Show how to enter journal entries, change them, add an entry to an existing batch, delete an entry and delete an entire batch. Show the batch inquiry in change and delete mode. Discuss unbalanced batches, create one, show how it looks in the Batch Inquiry (#22), then make an entry to balance it. Show the Journal Entry Edit List. Discuss how unposted entries can be included in statements and inquiries (use option #20 as the example). b. Post transactions through option # Show how the status in the Transaction file changes from U to P and show how the Account file is updated. Show how to file the posting report. c. Show the Batch Inquiry (#22) highlighting the option to view the posting report and source documents. d. Discuss auto-reversing batches. e. Discuss recurring journal entries, maintain the Recurring Journal Entry file (#12), and create a batch of recurring entries (#13-11). Print the Recurring Entries List. f. Discuss currency revaluation entries (#13-12). g. Discuss creating a batch of allocation entries (#13-13). Module Topics 7

12 4. Reports (in TEST System) a. Explain and print the Batch Listings (#32). Show how to list them by source code. Overview the Journal Reports (#33) and explain why they are rarely used. b. Print the General Ledger List (#34) and explain that this report could be printed as part of month-end, and definitely as part of year-end. c. Print and discuss the Financial Statements (#35). 5. Budgets (in TEST System) a. Enter budgets using Budget File Maintenance (option #11). b. Discuss the Budget Input Form (#33-10) and the 12-Month Budget Listing (#33-11). c. Print and discuss the Budgeted Income Statement (#35-14). 6. Month End (in TEST System) a. Explain then run Month End Processing (#14). Using the History Inquiry (#23), show how the posted transactions are transferred to the Transaction History file, and using Account Transactions Inquiry (#20) show how unposted transactions are left in the current Transaction file. b. Discuss and set up a month-end routine in the System Doctor for printing and filing reports. c. Explain the additional year-end processing that happens when the final month of the year is closed. Run it, and set up a year-end routine in the System Doctor. 7. Consolidation (in TEST System) a. Explain Consolidation (#66). Select #66-10 to Consolidate Companies. b. Enter sample consolidation journal entries through #66-11 and post them (#66-12). c. Display the new consolidation files using # d. Print consolidated financial statements using functions #66-30 through # e. Explain how the Statement Formatter uses the consolidation files (option #66-77). 8. Utilities (in TEST System) a. Explain and execute Utility functions (#19). Module Topics 8

13 General Ledger Menu Options The full General Ledger Menu below shows all available functions. This manual deals with topics in order of menu option. General Ledger Menu Options 9

14 File Maintenance Menu Menu General Ledger - Option #10 Files Affected: This function allows you to select from four file maintenance options. File Maintenance Menu 10

15 Account Maintenance Menu File Maintenance - Option #10-10 Files Affected: GL-MSTR, GL-ALLOC, GL-BUDG, GL-NOTE This function lets you add, change or delete G/L accounts stored in the Account Master file. The account number, description, account type and level are all maintained here. When adding a new income or expense account, the system automatically creates a budget record for it. Financial Statement Formatting To format the chart of accounts you must add special accounts to define headings and totals. Each account is assigned a level code to define its role within the format. Valid level codes are: Level Explanation 0 Defines a detail posting account 1 thru 6 Group totals 7 Account type totals (total assets, total liabilities and total income) 8 Gross margin and income statement final total 9 Headings As each detail posting account (level 0) is printed, the posted amount is accumulated in levels 1 through 7 total buckets. As each total account (level 1 through 7) is printed, it is reset to zero along with all total accounts having a lower level code. The level controls indentation. The higher the level, the further the indentation. Notes for each account can also be maintained here. Notes are an excellent way to detail how the account is used. Use account notes to detail balances (e.g. what makes up prepaid expenses) and to explain how the account is used (e.g. COGS Freight-In is debited by A/P and credited by P/O Receipts Posting). Account Maintenance 11

16 Here is a sample Chart of Accounts for a simple balance sheet. Account Description Type Level Action 0998 *** Assets *** Asset 9 Prints account description Current Assets Asset 9 Prints account description Actual account descriptions Asset 0 Prints current asset accounts and adds the amounts to total levels 1 through Total Current Assets Asset 1 Prints account description, prints and clears level total 1 (level totals 2 through 7 remain unchanged) Fixed Assets Asset 9 Prints account description Actual account descriptions Asset 0 Prints fixed asset accounts and adds the amounts to total levels 1 through Total Fixed Assets Asset 1 Prints account description, prints and clears level total 1 (level totals 2 through 7 remain unchanged) Total Assets Asset 7 Prints account description, prints and clears level 7 total and clears level 1 through 6 totals. Starts a new page *** Liabilities *** Liab 9 Prints account description Current Liabilities Liab 9 Prints account description Actual account descriptions Liab 0 Prints short term liability accounts and adds amounts to level totals 1 through Total Current Liabilities Liab 1 Prints account description, prints and clears level total 1 (level totals 2 through 7 remain unchanged) Long Term Liabilities Liab 9 Prints account description Actual account descriptions 2997 Total Long Term Liabilities Liab 0 Prints long term liability accounts and adds amounts to level totals 1 through 7. Liab 1 Prints account description, prints and clears level total 1 (level totals 2 through 7 remain unchanged) Total Liabilities Liab 2 Prints account description, prints and clears level totals 1 and Equity Liab 9 Prints account description Actual account descriptions Liab 0 Prints equity accounts and adds amounts to total levels 1 through Total Equity Liab 1 Prints account description, prints and clears level total 1 (level totals 2 through 7 remain unchanged) Total Liabilities & Equity Liab 7 Prints account description, prints and clears level 7 and clears levels 1 through 6. In this simple example, the statement does not use levels 3 through 6. Your organization can use additional levels to create a multi-totalling scheme if required. Account Maintenance 12

17 The income statement is formatted similarly. However, level 8 totals are used for printing Gross Margin, Profit before Taxes and Net Profit values. Level 8 totals do not clear after printing like level 1 through 7 totals do. Also, the first level 7 total (usually Total Sales ) is used as the 100% total income amount, defining the denominator for percentage calculations. When creating your chart of accounts, enter all your detail posting accounts first (level 0), then the formatting accounts (levels 1-9). You will see this screen: Here is an explanation of each field: Field Valid Entries A=Alphanumeric N=Numeric G/L Acct No N Description A - 30 Explanation Account number includes the account, branch and centre codes. The account structure set up in the System Master file dictates the size of this field. Describes the account and is printed or displayed throughout the system. Account Maintenance 13

18 Field Type A - (A, L, I, E) Explanation Type of account, using one of these codes: Type determines whether the account usually has a debit or credit balance. Level N - 1 (0 9) Level code defines how the account is printed on statements (see Financial Statement Formatting). The levels are: First enter all posting accounts, then enter formatting accounts. Job Cost A - 1 (Y, N) Job Cost flag indicates whether the account is linked to the Job Costing module: This field is displayed only if the G/L flag is set to Y in the J/C section of the System Master file. Fixed Assets A - 1 (Y, N) Fixed Assets flag, which indicates whether the account is linked to the Fixed Assets module: The field is displayed only if the G/L flag is set to Y in the F/A section of the System Master file. Account Maintenance 14

19 Once you confirm the data press F1, F4 or Enter. F1 (Allocation Maintenance) opens the following window. Here you can enter account numbers to which allocations should be made (see Allocations under Module Topics). The total allocation percentage does not have to equal 100. In other words, you don t have to allocate the entire account balance. F4 (Notes) lets you maintain notes on each account. Use notes to detail balances (e.g. what makes up Prepaid Expenses) and to explain how the account is used (e.g. COGS Freight In is debited by A/P and credited by P/O Receipts Posting). Account Maintenance 15

20 Branch Maintenance Menu File Maintenance - Option #10-11 Files Affected: GL-DEPT This option allows you to add, change, delete or list branches used in the account number structure. This separate file stores a description for each branch. These descriptions then print on financial statements. After you select this option, the Branch Maintenance screen appears. Branch Maintenance 16

21 Centre Maintenance Menu File Maintenance - Option #10-12 Files Affected: GL-CTR This function allows you to add, change, delete or list centres used in the account number structure. This separate file stores a description for each centre. These descriptions then print on financial statements. After you select this option, the Centre Maintenance screen appears. Centre Maintenance 17

22 Period End Date Maintenance Menu File Maintenance - Option #10-13 Files Affected: GL-PEND Here you can maintain period end dates for the current month and all months in the future (both current year and next year). The screen displays period end dates for prior months in the current year, the previous year, and the second previous year (i.e. two years prior) but they cannot be modified. The system determines the posting month for each batch by comparing the batch date to the dates in this file. Press F1 to edit month-end dates for the current year. Press F2 to edit month-end dates for the next year. Year-end updates this file by automatically creating next year s fields by adding 1 to the year. It leaves the month and day fields the same. Check this file after year-end since no consideration is given for a leap year (i.e. the system does not automatically change the day field for February). Period End Date Maintenance 18

23 Budget File Maintenance Menu File Maintenance - Option #11 Files Affected: GL-BUDG, GL-SYSM This function lets you change information for each budgeted account in the Budget file. When income and expense accounts are first set up, the system automatically adds a budget record for them. Only income and expense accounts can be budgeted. Budget figures are compared against actuals in various reports (e.g. the Budgeted Income Statement). The system prompts you for an account. F4 allows a search. Once you enter an account number, this screen will appear, beginning with the first month of the fiscal year. Use F5, F6 and F7 to select the budget to be maintained: Original, Revised (for the current year) or Next Year s. The first time you enter values into Original Budget you will be asked whether you wish to copy this data to the Revised Budget. F4 accesses the account s notes. Once you have selected a column, F1 becomes a fill-down key. It replicates the amount you enter into each remaining month in the column. Budget File Maintenance 19

24 Here is an explanation of each field within the Budget file. Field Valid Entries A=Alphanumeric N=Numeric Acct # N Prior-Yr N Original N Revised N Next-Yr N Explanation Account number to be budgeted, including the branch and centre. The account description from the G/L Master file appears. Budget amounts for the previous year. You cannot edit these fields. Original budget amounts for the current year. You may edit these amounts. Revised budget amounts for the current year. You may edit these amounts. Budget amounts for next year. You may also edit these amounts. During year-end processing, Next Year s budgets roll into the Original and Revised Budgets for the new current year. The Revised Budget of the current year rolls into Prior Year Budget. Recurring Journal Maintenance Recurring Journal Maintenance 20

25 Menu General Ledger - Option #12 Files Affected: GL-RECU, GL-MSTR, GL-SYSM This option lets you add, change or delete journal entries in the Recurring Journal Entry file. Recurring journal entries are those you wish to make on a monthly basis, but don t want to enter each time. These transactions are stored in the Recurring Journal Entry file. A G/L batch is created for these entries through option #13-11 (which should be executed every month). If the recurring journal entries balance does not equal zero, #13-11 will not allow you to create a batch. This screen will list the existing Recurring Journal Entry file. A description of each field can be found under Create/Update Journal Entries (option #13-10) with the exception of the active / inactive field. The Active / Inactive field controls whether the entry posts. If it is I, the line will be ignored when creating the recurring entry batch. This field is used to manage recurring entries that do not occur monthly. In this case, the file needs to be reviewed before posting. Journal Entry Processing Journal Entry Processing 21

26 Menu General Ledger - Option #13 Files Affected: This option displays the following menu: Option #10 lets you enter and modify journal entries. Use option #11 to create a batch of recurring journal entries from the Recurring Journal Entry file. Option #12 creates a batch to automatically revalue foreign currency accounts. Option #13 creates a batch of allocation entries based on the allocations entered through option #10-10 Account Maintenance. Option #14 lets you post all applicable journal entry batches. Create Update Journal Entries Menu Journal Entry Processing - Option #13-10 Create Update Journal Entries 22

27 Files Affected: GL-JOURI, GL-TRAN This function allows you to add, change or delete journal entries from the Transaction file. You may enter an out-of-balance batch but you cannot post it. Out-of balance batches remain in the Transaction file with a status of O for out-of-balance. All other batches have a status of U for unposted or P for posted. You have the option to print a Journal Entry Edit List after creating or modifying a batch. After choosing this option, the following screen will appear. An explanation of each field follows: Create Update Journal Entries 23

28 Batch Header Fields Field Explanation Batch # System-assigned number when in Add mode. In Change or Delete, N - 7 the system prompts for it. Press F4 to search. Batch numbers are always printed on the Journal Entry Edit List. Batch Date N - 6 (MMDDYY) Batch Bal N Auto Rev A - 1 (Y, N) Posting date for the batch. In Add mode, the system prompts for it. The date must fall within the current posting period or be in the future. In Change mode, the date is only available if the user has special security access to change it. Total of debits and credits in the current batch. The system calculates this amount after each transaction is added or changed. If the batch balance is not zero, the batch cannot be posted. Tells the system whether to create a reversing batch for this batch. See Module Topics for more information on Automatic Reversing Journal Entries. Batch Detail Fields Field Acct # N JR A - 2 Posting Memo A 30 Srce A 5 D/C A - (D, C) Amount N Explanation Account number for the journal entry. Its description is displayed. Press F4 to search. Journal where the transaction should be recorded. GJ for General Journal is defaulted. Description of the journal entry. Source of the transaction. It defaults to GL-JE. Whether the account is to be debited or credited. This field defaults based on the account type. Assets and expense accounts default D ; liabilities and income accounts default to C. Amount of the debit or credit (do not enter a minus sign). Create Update Journal Entries 24

29 Create Recurring Entries Batch Menu Journal Entry Processing - Option #13-11 Files Affected: GL-RECUR, GL-TRAN, GL-SYSM This function creates a new batch using the entries stored in the Recurring Journal Entry file. The batch s source code is GL-RE. The system only allows you to run this function once per month. Make required changes to the Recurring Journal Entry file before running. The system prompts you to enter the batch date. A Journal Entry Edit List will print. Create Currency Revaluation Batch Menu Journal Entry Processing - Option #13-12 Files Affected: AP-CURR, GL-MSTR, GL-TRAN, GL-JOURI This function creates a new batch of journal entries to revalue the foreign currency accounts. These entries reset balances in the foreign currency exchange accounts to the current value, according to exchange rates in the A/P and A/R currency files. Adjusting entries are offset to the Currency Gain / Loss Account also found in the respective currency files. The source code for the batch is GL-CR. The system only lets you run this function once per month. Make required changes to the exchange rate in the currency files before running. The system prompts you to enter the batch date. A Journal Entry Edit List will print. Create Recurring Entries Batch 25

30 Create Batch of Allocation Journal Entries Menu Journal Entry Processing - Option #13-13 Files Affected: GL-TRAN, GL-JOURI This function creates a batch of journal entries to allocate posted account balances according to the allocation tables set up through Account File Maintenance. These entries move dollar amounts from one account to another based on the allocation percentages specified. Only posted balances are allocated, so run this option after all entries have been posted. The source code for the batch is GL-AL. The system only lets you run this function once per month. Set up the allocation tables as desired before running. The system prompts you to enter the batch date. A Journal Entry Edit List will print. Create Batch of Allocation Journal Entries 26

31 Post Journal Entries to G/L Menu Journal Entry Processing - Option #13-14 Files Affected: GL-JOURI, GL-TRAN, GL-MSTR, GL-SYSM This function posts unposted batches in the Transaction file to the monthly balances in the Account Master file. All balanced batches with a batch date less than or equal to the current posting month are posted. Out-of-balance batches are not posted. The system prints a posting report after each posting run. Check this list carefully and file it as an audit report. This option may be run numerous times per month. Post Journal Entries to G/L 27

32 Month End Processing Menu General Ledger - Option #14 Files Affected: GL-MSTR, GL-TRAN, GL-JOURI, GL-RECU, GL-HIST, GL-SYSM Month End processing moves all posted entries from the Transaction file to the Transaction History file and increments the G/L posting month in the System Master file by one. See Module Topics for a discussion of what steps should be performed before running this option. This option will not proceed if there are any out-of-balance or unposted batches for the month. Financial statements are usually printed before executing this option but many reports can be printed after. The Quarterly Income Statement is the exception it must be printed before running month end for the final month of the year. The top portion of the screen warns when batches have not yet been created for currency revaluation, recurring journal entries and allocations. If not using these features, ignore the warnings. Month End Processing 28

33 If the month you are closing is the final month of the year, the following screen will appear to indicate that year-end will also run. Year End processing does the following: moves all current-year amounts in the Account Master file to prior-year amounts sets the opening balance of each asset and liability account for the new fiscal year to equal the account s closing balance from the previous year sets revenue and expense opening balances to zero for the new year moves your revised budget to prior-year budget moves next year s budget into current-year original and revised budget rolls over period end dates in the Period File by adding 1 to the year posts year-to-date profit or loss to Retained Earnings and prints a report showing this onesided journal entry After running year-end, check your Period End Table. The system only increments the year by 1, leaving the month and days fields as they were (check February if a leap year). Month End Processing 29

34 Utilities Menu General Ledger - Option #19 Files Affected: Use utility functions to reorganize the G/L Master files, delete transaction history, change G/L account numbers and merge two G/L accounts together. You have four options: Utilities 30

35 Delete Transaction History Menu Utilities - Option #19-10 Files Affected: GL-HIST This function physically removes transactions from the Transaction History file. The system prompts you for a cut-off date and deletes all transaction history on or before this date. Change Account Number Menu Utilities - Option #19-11 Files Affected: All applicable files This function changes a selected G/L account to a new number. It goes through all applicable files and rewrites the old account number with the new one. The system prompts you for the old account number then the new one. This option also updates the Statement Formatter if the account is uniquely identified. You are responsible to ensure all wildcard definitions still work properly. Delete Transaction History 31

36 Merge G/L Accounts Menu Utilities Menu - Option #19-12 Files Affected: All applicable files This function merges two G/L accounts into one. It goes through all applicable files and rewrites the from account to the to account and combines their balances in the Account Master file. The system prompts you for the accounts. Merge G/L Accounts 32

37 Account Transactions Menu General Ledger - Option #20 Files Affected: GL-MSTR, GL-TRAN, GL-JOURI, GL-ALLOC This function displays all journal entries currently in the Transaction file. They are sorted by posting date and then subtotal by posting month. A blank screen appears with the cursor at account number. Enter a G/L account or press F4 to search. Set Next Key options are available using the F2 key. Press F5 to change options. This lets you enter a start date for the inquiry and select whether to include or exclude unposted entries. The default is to include them. Exclude transactions when working only with posted transaction for the current month. Account Transactions 33

38 Here is an explanation of unique fields on the Account Transactions screen. Field St A - (U, P, O) Amount N Month N Close N Explanation Status of the transaction. Valid status codes are: U: Unposted transactions P: Posted transactions O: Out-of-balance transactions Transaction amount. Total amount of transactions for the month. Closing balance of the account. Press ENTER on any line to display all journal entries in this batch. This screen is further described within option #22 (Batch Inquiry). Account Transactions 34

39 Financial Statements Inquiry Menu General Ledger - Option #21 Files Affected: GL-MSTR, GL-PEND, GL-TRAN, GL-JOURI, GL-HIST This function displays information for the current year, prior year, two years prior, or next year in the format of a financial statement. From these statements, you may drill down into transaction details for each account. This transaction detail can then be further exploded to show all entries in the applicable G/L batch. Select the type of statement to view, followed by the desired year and month. If you select the current year and the current month, the system prompts you to include or exclude unposted transactions. The final screen prompts you to select the level of information. The centre level gives the most detail. Account level is the most general, combining all branch and centre information into one display line. Financial Statements Inquiry 35

40 Here is a sample income statement. Use PgUp and PgDn to see the rest of the statement. Press Enter to drill down into the transactions that make up the amount shown on the statement line. Press Enter again at this screen to display the entire batch to which the transaction belongs (then all features described on the next page will become available).. Financial Statements Inquiry 36

41 Batch Inquiry Menu General Ledger - Option #22 Files Affected: GL-TRAN, GL-JOURI, GL-MSTR, GL-HIST This function displays all journal entries in a current or historical batch. The name of the user who created the batch along with the batch source code are shown along with the batch date, batch balance and status (U, P, O). The system prompts you to select current or history batches, followed by the specific batch number. Press F4 to search. The following screen displays the detailed journal entries of the batch. Pressing F6 will display source transactions (e.g. A/P invoices, A/P cheques, A/P void cheques, O/E invoices, S/O invoices, R/B invoices, P/O postings, P/O returns, B/M close W/O s) for applicable batches. F11 allows re-printing / viewing the source posting report. And F12 allows re-printing / viewing the original G/L posting report. Batch Inquiry 37

42 History Inquiry Menu Genreal Ledger - Option #23 Files Affected: GL-HIST, GL-MSTR, GL-ALLOC This function displays journal entries in the Transaction History file. Screens are similar to those of option #20, but the transactions are historical rather than for the current month. The system prompts you for the date range of transactions to view. The cursor then prompts for an account number. Press F4 to search. Press F2 to use the Set Next Key. If you request a start date within the current year, prior year, or prior year 2, the system provides an opening balance. For years previous to these, the system only stores transactions, not monthly balances. Press Enter on any line to display all entries in this batch. History Inquiry 38

43 Account Inquiry Menu General Ledger - Option #24 Files Affected: GL-MSTR, GL-BUDG, GL-ALLOC, GL-NOTE This function displays monthly balances for a specified account for the current year, prior year, and prior year 2. If an income or expense account, the system shows totals at the bottom of each column. If an asset or liability account, the system shows averages. The system also shows variance percentages between the current year and both prior years. A second screen displays prior-year budget, current-year budget (both original and revised), and next year s budget by month, with totals. The system prompts you to enter an account number. Press F4 to search. Set Next Key options are also available. F4 displays the account s notes. F5 allows including unposted entries in the balances (the default is to show only posted entries). Account Inquiry 39

44 Press Enter to see a second screen with budget information. This inquiry is very useful when determining budgets for next year. Account Inquiry 40

45 Chart of Accounts List Menu General Ledger - Option #30 Files Affected: GL-MSTR This option lists all accounts on the system. It prints the account number, account description, type and account level plus whether the account is linked to Fixed Assets or Job Costing. The report also shows the total number of accounts and the number of posting accounts. The system prompts you to select all G/L accounts or only posting accounts. The next prompt asks whether you wish to display allocation details. The report indicates allocated accounts with an asterisk (*). Answer whether you wish to print account notes along with the accounts. The last two prompts allows you to specify branch and centre numbers for the accounts. Press Enter to print the report Chart of Accounts List 41

46 Budget Reports Menu General Ledger - Option #31 Files Affected: This function displays the following menu and lets you choose from two reports. Budget Reports 42

47 Budget Input Form Menu General Ledger - Option #31-10 Files Affected: GL-MSTR, GL-BUDG This form is used to create next year s budget. It prints all applicable accounts with space to write next year s figures for each one. This report also shows the prior-year, current-year original and current-year revised budgets. Decide whether you want to print accounts with no activity, and select the form with cents or without cents. Choose without to display larger numerical values. Then specify the branch or centre numbers for the accounts to be printed. Press Enter to print the report. Budget Input Form 43

48 12-Month Budget Listing Menu General Ledger - Option #31-11 Files Affected: GL-MSTR, GL-BUDG The 12-Month Budget Listing is similar in format to the 12-Month Income Statement. This option prints the account number, account description and month-by-month budget amounts. Select whether you want to see accounts with all zero values. Then decide whether you want to print the form with cents or without cents. Select without to display large numerical values. Then specify the branch and centre numbers for the accounts to be printed. A final screen will allow you to choose one of four budgets to display on the report. Press Enter to print the report. Batch Listings 12-Month Budget Listing 44

49 Menu General Ledger - Option #32 Files Affected: GL-TRAN, GL-JOURI This function prints selected batches in batch order (rather than by account). You may enter a date range, whether you wish to print only out-of-balance batches, unposted batches, posted batches or all batches. And you may select to print only those batches for a particular source code as follows: The report shows each transaction s batch number, user name, posting date, account number, posting memo, journal, source, debit amount and credit amount. Totals for each batch are printed along with a proof amount. A batch status code of H denotes a batch from the history file. Journal Reports Journal Reports 45

50 Menu General Ledger - Option #33 Files Affected: GL-TRAN This option gives you a menu to choose to print any or all of seven journal reports. The reports contain the journal reference number, batch number, reference, date, source, posting memo, account number, branch and centre numbers, debit amount and credit amount. Totals are printed at the end of the report. Press Enter to print the report. This report only prints posted data. Unposted entries are not included. General Ledger List Menu General Ledger - Option #34 General Ledger List 46

51 Files Affected: GL-MSTR, GL-TRAN, GL-HIST This function produces a list of G/L accounts, including each opening account balance, all journal entries for the date range (subtotalled by month) and each closing balance. Print and file the General Ledger List as part of the month-end and year-end procedures. The system prompts you to enter a range of accounts or all accounts. Then specify the branch and centre numbers for the accounts. Select a date range for the transactions to be shown. If you select past dates, the program uses the Transaction History file to retrieve the information. This is often used at year-end to print a listing of all transactions for the year. You may select a specific journal, choose whether to include accounts with no activity, and print only those accounts that have been allocated. The system then prompts you to include or exclude unposted entries. Press Enter to print the report. Financial Statements Menu Menu General Ledger - Option #35 Files Affected: Financial Statements Menu 47

52 This function displays the Financial Statements Menu. Each statement lets you include or exclude unposted transactions if printing for the current month. Trial Balance Menu Financial Statements - Option #35-10 Files Affected: GL-MSTR Trial Balance 48

53 The Trial Balance lists G/L accounts, with the account type, and current month-to-date and yearto-date amounts. The accounts may be listed at the detail account level, or summarized to the branch or centre level. Total debit and credit amounts of all accounts are shown. The system prompts you to include or exclude accounts with no activity. Then specify the branch or centres for accounts you wish to print. Select the relevant year and month, choose whether to include or exclude unposted transactions (if the period selected is the current month) and select the level to display. Once these choices are made, press Enter to print the report. Simple Balance Sheet Menu Financial Statements - Option #35-11 Files Affected: GL-MSTR Simple Balance Sheet 49

54 This function produces a simple balance sheet detailing all asset, liabilities and equity accounts. The report lists all heading and individual G/L accounts, account balances and total accounts using the formatting structure defined within the chart of accounts. The retained earnings figure is always a calculated-to-balance amount since it is only posted to at year-end. The system prompts you to include or exclude accounts with no activity. Select the relevant year and month, choose whether to include or exclude unposted transactions (if the period selected is the current month) and select the level to display. Once these choices are made, press Enter to print the report. Simple Income Statement Menu Financial Statements - Option #35-12 Files Affected: GL-MSTR Simple Income Statement 50

55 This function produces a report of all income and expense accounts. The income statement lists current month and year-to-date amounts and the percentage of gross sales each account represents. The system prompts you to include or exclude accounts with no activity. Specify the branch or centre numbers for the accounts you wish to print. Then select the relevant year and month, choose whether to include or exclude unposted transactions (if the period selected is the current month) and select the level to display. Once these choices are made, press Enter to print the report. Comparative Income Statement Menu Financial Statements - Option #35-13 Files Affected: GL-MSTR Comparative Income Statement 51

56 This function produces an income statement that compares values for one year against those from the prior year. The report details the month-to-date amount, gross income percentage, prior year month-to-date amount, gross income percentage for the prior year, current year-to-date amount, gross income percentage for the current year, prior year-to-date amount and gross income percentage for the prior year. You are prompted to include or exclude accounts with no activity. Specify the branch or centre numbers for the accounts you wish to print. Select the relevant year and month, choose whether to include or exclude unposted transactions (if the period selected is the current month) and select the level to display. Once these choices are made, press Enter to print the report. Budgeted Income Statement Menu Financial Statements - Option #35-14 Files Affected: GL-MSTR This function produces an income statement that compares actuals to budgeted information. Budgeted Income Statement 52

57 This report prints actual month-to-date; budgeted month-to-date; MTD actual to budgeted variance amount and percentage; actual year-to-date; budgeted year-to-date; YTD actual to YTD budgeted variance amount and percentage. The system prompts you to include or exclude accounts with no activity. Choose which budget that actuals should be compared against (original or revised). Revised budget is the default. Specify the branch or centre numbers for the accounts you wish to print, then select the relevant year and month. You will then be asked if you want to include unposted transactions and to select the level to display. Press Enter to print the report. 12-Month Income Statement Menu Financial Statements - Option #35-15 Files Affected: GL-MSTR 12-Month Income Statement 53

58 This function prints a twelve month income statement. Actual revenue and expense amounts are displayed for each month since the beginning of the fiscal year. A total line shows accumulated totals for the year. Choose whether to fill in future months with revised budget data. Annual totals for each line of the income statement are also reported. You are first prompted whether to include accounts with no activity. The next prompts allow you to specify the branch and/or centre for the accounts to be printed. You are asked to pick the year and whether future months should be filled with revised budget data. Then select the reporting level (account, branch or centre) and whether to print cents. Press Enter to print the report. Quarterly Income Statement Menu Financial Statements - Option #35-16 Files Affected: GL-MSTR Quarterly Income Statement 54