MSI-Accounts Payable (with Accrual Based Accounting) Accrual Distribution Journal

Transcription

1 MSI-Accounts Payable (with Accrual Based Accounting) Accrual Distribution Journal The Accrual Distribution Journal (see Figure 0) will sort the invoices by their GL Account #. Positive amounts on an invoice will be debited while any negative amounts will be credited. When a fund break occurs, the system will generate offsetting entries (Items 5, 11, and 14) to keep the funds in balance. The offsetting account number is taken from the AP System Defaults (Accounts Payable System Main Menu > Support > Syst em Defaults) AP Liability Account number. Notice that the Fund portion of the account number is wildcards (pluses): HELP (Interfund Help Text).doc 1

2 (Figure 0) HELP (Interfund Help Text).doc 2

3 Pre-Check Run Edit The Pre-Check Run Edit (see Figure 1) will select all invoices due on or before the user specified d ue date, with an invoice status of AP, and place them in a check run work file. These invoices will be sorted by vendor, assigned check numbers, and consolidate all invoices for a vendor on a single check. (Figure 1) HELP (Interfund Help Text).doc 3

4 HELP (Interfund Help Text).doc 4

5 Distribution Journal The Distribution Journal (see Figure 2) will debit the AP Liability Account, that was previously credited when the invoices were accrued to the General ledger and when a fund break occurs, the system will generate offsetting entries (Items 2, 4, and 6) to keep the funds in balance. ITEM 2 - The system will go to Figure 6 and look at Item B, General Fund Disbursement Account #. Since this account is located in Fund 01, the system generates a credit Accounts Payable Offset entry to this account. ITEM 4 - The system will go to Figure 7 and look at Item G, Water and Sewer Fund Disbursement Account #. Since this account IS NOT located in Fund 02, the system drops down to ITEM H, Due To/From Summary Account # and posts an Accounts Payable Offset credit entry to this account. ITEM 6 - The system will go to Figure 8 and look at Item L, MFT Fund Disbursement Account #. Since this account I S NOT located in Fund 03, the system drops down to ITEM M, Due To/From Summary Account # and posts an Accounts Payable Offset credit entry to this account. (Figure 2) At this point all funds are currently in balance. However, the system recognizes that the total amount of credits to cash accounts, do not equal the total dollar amount of checks listed on the Pre -Check Run Edit. The system now reconciles this as offsets to the Due To entries in ITEMs 7 and 8. The following system generated entries are made to balance the transactions: ITEM 7 - The system goes to Figure 7 and looks at Item I, Due To/From Detail Acct# and debits Accounts Payable Interfund Offset entry to this account. ITEM 8 - The system goes to Figure 8 and looks at Item N, Due To/From Detail Acct# and debits Accounts Payable Interfund Offset entry to this account. ITEM 9 - The system goes to Figure 6 and looks at Ite m B, Disbursement Account # and credits Accounts Payable Interfund Offset entry to this account. HELP (Interfund Help Text).doc 5

6 MSI-Accounts Payable (Cash Based Accounting) Pre-Check Run Edit The Pre-Check Run Edit (see Figure 1) will select all invoices due on or before the user spec ified due date, with an invoice status of AP, and place them in a check run work file. These invoices will be sorted by vendor, assigned check numbers, and consolidate all invoices for a vendor on a single check. Distribution Journal The Distribution Journal (see Figure 2a) will sort the invoices listed in the Pre -check Run Edit (see Figure 1) by their GL Account #. Positive amounts on an invoice will be debited while any negative amounts will be credited. When a fund break occurs, the system will generate offsetting entries (Items 5, 11, and 14) to keep the funds in balance. The entries are listed as follows in Figure 2: ITEM 5 - The system will go to Figure 6 and look at Item B, General Fund Disbursement Account #. Since this account is locate d in Fund 01, the system generates a credit Accounts Payable Offset entry to this account. ITEM 11 - The system will go to Figure 7 and look at Item G, Water and Sewer Fund Disbursement Account #. Since this account IS NOT located in Fund 02, the system drops down to ITEM H, Due To/From Summary Account # and posts an Accounts Payable Offset credit entry to this account. ITEM 14 - The system will go to Figure 8 and look at Item L, MFT Fund Disbursement Account #. Since this account I S NOT located in Fund 03, the system drops down to ITEM M, Due To/From Summary Account # and posts an Accounts Payable Offset credit entry to this account. At this point all funds are currently in balance. However, the system recognizes that the total amount of credits to cash accounts, do not equal the total dollar amount of checks listed on the Pre -Check Run Edit. The system now reconciles this as offsets to the Due T o entries in ITEMs 15 and 16. The following system generated entries are made to balance the transactions: ITEM 15 - The system goes to Figure 7 and looks at Item I, Due To/From Detail Acct# and debits Accounts Payable Interfund Offset entry to this account. ITEM 16 - The system goes to Figure 8 and looks at Item N, Due To/From Detail Acct# and debits Accounts Payable Interfund Offset entry to this account. ITEM 17 - The system goes to Figure 6 and looks at Item B, Disbursement Account # and credits Accounts Payable Interfund Offset entry to this account. HELP (Interfund Help Text).doc 6

7 (Figure 2a) HELP (Interfund Help Text).doc 7

8 MSI-Payroll Deductions Register The Deductions Register (see Figure 3) will print all employees who have been included in the current check run work file, sorted by department, with department and grand totals. Detailed hours records will be summarized into GROSS PAY and detailed deductions will print, along net pay. (Figure 3) HELP (Interfund Help Text).doc 8

9 HELP (Interfund Help Text).doc 9

10 Distribution Journal The Distribution Journal (see Figure 4) will sort the pay and deduction records Deductions Register (see Figure 3) by their GL Account #. When a fund break occurs, the system will generate offsetting entries (Items 10, 12, and 16) to keep the funds in balance. The entries are listed as follows in Figure 4: ITEM 10 - The system will go to Figure 9 and look at Item P, General Ledger Cash Disbursement Account. Since this account is blan k, the system will go to Figure 6 and look at Item B, General Fund Disbursement Account #. Since this account is located in Fund 01, the system generates a credit Payroll Offset entry to this account. ITEM 12 - The system will go to Figure 9 and look at Item P, General Ledger Cash Disbursement Account. Since this account is blank, the system will go to Figure 7 and look at Item G, Water and Sewer Fund Disbursement Account #. Since this account IS NOT located in Fund 02, the system drops down to ITEM H, Due To/From Summary Account # and posts a Payroll Offset credit entry to this account. ITEM 16 - The system will go to Figure 9 and look at Item P, General Ledger Cash Disbursement Acc ount. Since this account is blank, the system will go to Figure 8 and look at Item L, MFT Fund Disbursement Account #. Since this account IS NOT located in Fund 03, the system drops down to ITEM M, Due To/From Summary Account # and posts a Payroll Offset credit entry to this account. At this point all funds are currently in balance. However, the system recognizes that the total amount of credits to cash accounts, do not equal the total dollar amount of checks listed on the Deductions Register. The system now reconciles this as offsets to the Due To entries in ITEMs 1 2 and 16. The following system generated entries are made to balance the transactions: ITEM 17 - The system goes to Figure 7 and looks at Item I, Due T o/from Detail Acct.# and debits Payroll Interfund Offset entry to this account. ITEM 18 - The system goes to Figure 8 and looks at Item N, Due To/From Detail Acct.# and debits Payroll Interfund Offset entry to this account. ITEM 19 - The system goes to Figure 6 and looks at Item B, Disbursement Account # and credits Payroll Interfund Offset entry to this account. (Figure 4) HELP (Interfund Help Text).doc 10

11 HELP (Interfund Help Text).doc 11

12 HELP (Interfund Help Text).doc 12

13 MSI-General Ledger Fund Code Maintenance During the posting from the MSI modules to the General Ledger, various of f-set account numbers are required to balance the journal entries. The distribution journals have been programmed to locate these account numbers in the Fund Code Maintenance file. This saves the operator from having to key these in by hand for each journal processed. The Account # listed in the Fund Code Maintenance are used as follows: Depository Account # - This is used during the MSI-GL Cash Receipts Distribution Journal processing Disbursement Account # - This is used during the MSI-AP Manual and Standard Check Processing Distribution Journals and MSI -PR Distribution Journals Due To/From Summary Acct # - This is used during the MSI-GL Cash Receipts Distribution Journal processing, MSI -AP Manual and Standard Check Processing Distribution Journals and MSI-PR Distribution Journals Due To/From Detail Acct # - This is used during the MSI-GL Cash Receipts Distribution Journal processing, MSI -AP Manual and Standard Check Processing Distribution Journals and MSI-PR Distribution Journals Fund Balance Account # - This is used during the MSI-GL Close Chart of Accounts Processing HELP (Interfund Help Text).doc 13

14 (Figure 6) A B C D E HELP (Interfund Help Text).doc 14

15 (Figure 7) F G H I J HELP (Interfund Help Text).doc 15

16 (Figure 8) K L M N O HELP (Interfund Help Text).doc 16

17 MSI-Payroll General Payroll Information (Figure 9) P Q HELP (Interfund Help Text).doc 17