PACS Financials Training Activity Guide
Tribal SchoolEdge Level 1, 17 Madden Grove RICHMOND VIC 3121 Support Centre: Web: https://support.schooledge.com.au/ Email: support.schooledge@tribalgroup.com Tel: 1300 301 931 (calls from Australia) or +61 3 9690 5044 Human Edge Software Corporation Pty Ltd, Melbourne 2016 SchoolEdge is a registered Business Name of Human Edge Software Corportation Pty. Ltd. Human Edge Software is a member of the Tribal Group Date: 26 April 2016
Table of Contents PACS Training... 4 Overview... 4 The Training... 5 Intended Audience... 6 The Training Manual... 7 Software Support... 8 Overview... 8 How to Contact Support... 9 Screen Capture... 10 Financial Concepts... 12 Overview... 12 Reminder List... 13 Posting Transactions... 14 Chart of Accounts... 15 Overview... 15 Editing Chart of Account Codes... 16 New Chart of Account Codes... 17 Receipts... 18 Overview... 18 Sundry Receipts... 19 Posting Receipts... 20 Posting and Unposting Giving... 21 Bank Deposit Slips... 24 Receipt Reports... 25 Payments... 26 Overview... 26 Write Cheques... 27 Make Withdrawals... 28 General Journal Entries... 30 Overview... 30 Adding a General Journal Entry... 31 Recurring Transactions... 32 Create a Recurring Transaction... 32 Voiding Transactions... 34 Overview... 34 Voiding a Giving Receipt... 35 Voiding a Sundry Receipt... 36 Voiding a Cheque... 37 Bank Reconciliation... 38 Monthly Bank Reconciliation... 38 Bank Reconciliation Reports... 40 Bank Reconciliation Activity 2... 41 Unpost a Write Cheque or Make Withdrawal... 43 Business Activity Statement... 44 Overview... 44 Adding a New BAS... 45 BAS Reports... 46 General Journals to correct the BAS... 47 Recalculating a BAS... 49 Submit the BAS to the ATO... 51 Asset Register... 54 Overview... 54 Adding Assets... 55 PACS Financial Training Activity Guide Page 3
PACS Training Overview Introduction This training session is a hands-on experience of learning how to use PACS to manage daily and monthly financial tasks. This covers processing receipts from sources other than giving, entering the monthly bank reconciliation, and Business Activity Statement. You will learn to enter cheques and withdrawals and manage your Chart of Accounts. To ensure you gain the maximum benefits from today s training ask lots of questions, participate, write notes down and enjoy yourself! PACS Financial Training Activity Guide Page 4
The Training Duration This training is run from 9:00am to 4:00pm. Topics Topics covered in this training are: Posting Transactions Sundry Receipts Bank Deposit Slip Receipt Reports Write Cheques Make Withdrawals Business Activity Statement General Journal Bank Reconciliation Chart of Accounts Recurring Transactions Asset Register Voiding Transactions Training Outcomes At the end of this training you should be able to: Enter Sundry Receipts. Produce a Bank Deposit Slip. Enter cheques and bank withdrawals. Do your Bank Reconciliation and BAS. Produce required reports. PACS Financial Training Activity Guide Page 5
Intended Audience Audience This course is intended for Users who are have been using PACS to manage Member and Giving records and use or will be using PACS for Financial Management. Prerequisites It is recommended that the PACS People, Giving and Registers course has been completed. PACS Financial Training Activity Guide Page 6
The Training Manual The Manual This Training Manual is a Guide to steer you through the training process. It is a series of activities to be followed during the training which is meant to be accompanied by the PACS Financial User Guide. Make notes and highlight key areas to help yourself retain information, or remember where to refer back to for information. Format This Training Manual is broken into chapters. Each chapter gives an overview and training activity to practice on. Use of Guide This manual is designed to give activities that will be completed during the training. Your trainer may not follow this manual step by step, but will always let you know where the topics can be located so you can take notes and become familiar with the steps. Please refer to the PACS Financial User Guide for step by step instructions. Conventions In this Training Guide, you will find some of the following conventions: BLUE TEXT This text highlights PACS keywords. Text separated by arrows. Example RECEIPTS SUNDRY RECEIPTS. This means, from the RECEIPTS menu, select the SUNDRY RECEIPTS item. PACS Financial Training Activity Guide Page 7
Software Support Overview Introduction Software support queries can be logged via our website, emailed to us or you can call our support centre. PACS Financial Training Activity Guide Page 8
How to Contact Support Web Support requests can be made online using our internet based logging system. Your request will be recorded in real time and our product specialists will be notified immediately. You will receive a confirmation email which will include a reference number. The web logging system is available at: https://support.schooledge.com.au Email Technical support requests can also be emailed to: support.schooledge@tribalgroup.com Telephone Support The technical support contact number is: 1300 301 931 (calls from Australia) Or +61 3 9690 5044 There will be times when your phone call will go through to voice mail. Leave a message with your name, the Parish name, your contact numbers and name of the product you require support with and the support centre will call you back. PACS Financial Training Activity Guide Page 9
Screen Capture Introduction There may be times when you want to print a screen from PACS. This may be to: File as a member record Email to Customer Support Attach to a support request logged online Follow the steps in the table below to do a screen or window capture. Step Action 1 Open the form that you want to print so you can see it on the screen. 2 To print the full screen, either: In PACS select FILE PRINT SCREEN and select the printer to print to, or Press the PRTSCN key on the keyboard (to the right of F12). To only print the window, press the ALT and PRTSCN keys together. The PRTSCN or the ALT and PRTSCN options copy the screen to the clipboard as an image. The image can now be pasted into Microsoft Word or an email. 3 To paste the image into Microsoft Word. Open Microsoft Word Click on the Edit menu and Paste OR Press CTRL and V. Continued on next page PACS Financial Training Activity Guide Page 10
Screen Capture, Continued Introduction (continued) Step Action 4 The screen is now pasted in Microsoft Word and can be printed or emailed. PACS Financial Training Activity Guide Page 11
Financial Concepts Overview Introduction There are some basic concepts in PACS that relate to financial transactions. Contents This chapter contains the following topics: Topic See Page Reminder List 13 Posting Transactions 14 PACS Financial Training Activity Guide Page 12
Reminder List Document Reference Document: Financial User Guide Pages: Reminder List Activity Open the REMINDER LIST. From which menu do we access the REMINDER LIST? What sort of transactions can be added to the Reminder List? Reminder Dates Activity Page number in Financial User Guide: Add a Reminder Date item of Members Birthdays to the Reminder List. PACS Financial Training Activity Guide Page 13
Posting Transactions Document Reference Document: Financial User Guide Pages: Activity What does it mean to POST a transaction? What transactions do we POST? Where do we access BATCH POST? PACS Financial Training Activity Guide Page 14
Chart of Accounts Overview Introduction PACS comes with a sample Chart Of Accounts (COA), but there will be times when you will need to change or add various codes to this. Document Reference Document: Financial User Guide Pages: PACS Financial Training Activity Guide Page 15
Editing Chart of Account Codes Activity Page number in Financial User Guide: Where do we find the CHART OF ACCOUNTS? In which category is Telephone and Postage? Locate the Telephone and Postage account, and we will change the description to include Internet. How do we open an account to edit it? Tip: Double click on the account, or Click once on the yellow folder to the left of the account. Change the description to be Telephone, Internet and Postage. PACS Financial Training Activity Guide Page 16
New Chart of Account Codes Activity 1 Page number in Financial User Guide: We want to create a new Income account code to sit between: 4.342 Other 4.350 Profit on Sale of Assets What number can we give to it so it sits between to the 2 accounts? Look at each of the above codes in Edit mode. What HEADER TYPE and LEVEL are they? This COA Code will be called Funeral Hire. What would the DEFAULT TAX CODE be? Follow the steps from the Financials User Guide to create a new GENERAL ACCOUNT called Funeral Hire with the account code 4.343 Activity 2 The Parish has a separate Payroll bank account. Create the account with the following details: Type: Bank Account Cheque G/L Number: 7.6200 Level: 2 Account Name: Payroll Account Default Tax Code: Blank Bank Account Details Bank Name: Commonwealth BSB: 123-123 Account Number: 1234567 Creditors EFT Account Name: St Mary s Parish Account Debtors EFT Account Name: St Mary s Parish Account PACS Financial Training Activity Guide Page 17
Receipts Overview Document Reference Document: Financial User Guide Pages: Activity In PACS there are 2 types of receipts. What are they? What sorts of items are receipted as a Sundry Receipt? PACS Financial Training Activity Guide Page 18
Sundry Receipts Enter a Sundry Receipt Activity 1 Page number in Financial User Guide: Where do we locate SUNDRY RECEIPTS: Enter the following Sundry Receipt: Received from: Karen Everton Receipt Date: 27/06/2014 Amount: $120 Comment: Hall Hire Payment Method: Cash Sundry Income Details: 4.341 Rents Activity 2 Susan Hoffman, a member of the Parish, paid $40 by cheque on 27/06/2014. Term 3 Playgroup for her child. Bank: ANZ Branch: Melbourne Cheque Number: 1234 How can we link in Susan s Details? How can we search for a G/L Code? Tip: Right Click on the G/L ACCOUNT field Select FIND Enter text that could be in the code description PACS Financial Training Activity Guide Page 19
Posting Receipts Document Reference Document: Financial User Guide Pages: Batch Posting Page number in Financial User Guide: Where is Batch Post located? Batch Post the 2 receipts we did earlier. PACS Financial Training Activity Guide Page 20
Posting and Unposting Giving Document Reference Document: Financial User Guide Pages: Activity Why do we need to POST Giving? We need to process some giving in order to POST it. What do we need to do before we record Giving? Record Giving Record the giving for the date specified in Balance Forward. Process the following Giving amounts. Envelope Giving Amount 1 $20.00 2 $5.00 3 $4.00 6 $2.00 9 $1.00 26 $5.00 28 $0.00 48 $2.00 52 $20.00 53 $25.00 55 $15.00 57 $8.00 Save the Giving Continued on next page PACS Financial Training Activity Guide Page 21
Posting and Unposting Giving, Continued Post the Giving Where do we POST the Giving from? Can we BATCH POST giving? What is affected by posting the giving? POST the Giving. Unposting Giving When would we need to UNPOST Giving? Continued on next page PACS Financial Training Activity Guide Page 22
Posting and Unposting Giving, Continued Activity 1 An amount of $5 was recorded for Harold Adams (envelope 26). He didn t actually give this week as he was away, so it was processed in error. This amount was actually received from Molly Innes (envelop 28). We want to UNPOST and DELETE this payment. Tip: We will Unpost by Giver. Click in POST/UNPOST BY: GIVER. Ensure the correct payment is selected and highlighted in blue. Click on UNPOST. To DELETE the payment, ensure the correct payment is selected and highlighted in blue. Click on the DELETE button at the bottom of the form. Add the $5 payment to the correct Giver (Molly Innes Env 28). Enter the payment on the correct envelop and click on SAVE. POST the new transaction. Delete Vs Void What is the difference between DELETE and VOID? What are some occasions where you would VOID a receipt? PACS Financial Training Activity Guide Page 23
Bank Deposit Slips Document Reference Document: Financial User Guide Pages: Activity Where is Bank Deposit Slip located? Multi-select: When could you use the Multi-select feature: Create a Bank Deposit slip for the 30/06/2014. Select all cash and cheque Giving and Sundry Receipts. PACS Financial Training Activity Guide Page 24
Receipt Reports Activity What receipt reports are available? Page number in Financial User Guide: PACS Financial Training Activity Guide Page 25
Payments Overview Document Reference Document: Financial User Guide Pages: Introduction Payments records money coming OUT of the Parish bank account. There are 2 methods of money leaving the bank account: 1. Write Cheques 2. Make Withdrawals PACS Financial Training Activity Guide Page 26
Write Cheques Introduction In WRITE CHEQUES you can issue a Cheque from one of your bank accounts, whether you hand write it or print it. Page number in Financial User Guide: Activity 1 Enter the following WRITE CHEQUE: Date: 27/06/2014 Amount: $100 Pay to the Order of: The Leader Memo: Newspaper ad for Car Boot sale. G/L Account: Search for the Advertising expense account code. TAX: NCG What does NCG stand for: Activity 2 Date: 27/06/2014 Amount: $400 Pay to the Order of: Power Corp Memo: Electricity G/L Account: 5.541 Light, Heat and Power TAX: NCG Activity 3 What does the tax code XBAS mean? Would your Parish use XBAS? PACS Financial Training Activity Guide Page 27
Make Withdrawals Document Reference Document: Financial User Guide Pages: Write Cheques Vs Make Withdrawals What is the difference between WRITE CHEQUES and MAKE WITHDRAWALS? Activity 1 Where is MAKE WITHDRAWALS located? Enter the following MAKE WITHDRAWAL: Date: 27/06/2014 Amount: $60 Pay to the Order of: Bigpond Memo: Monthly Internet Direct Debit G/L Account: 5.503 Telephone, Internet and Postage TAX: NCG Continued on next page PACS Financial Training Activity Guide Page 28
Make Withdrawals, Continued Activity 2 Date: 27/06/2014 Amount: $400 Pay to the Order of: CDF Memo: Monthly Loan Repayment G/L Account: 5.583 TAX: XBAS Posting Payments Write Cheque and Make Withdrawals are required to be posted. BATCH POST Write Cheques, and Make Withdrawals. PACS Financial Training Activity Guide Page 29
General Journal Entries Overview Document Reference Document: Financial User Guide Pages: Introduction General Journal transactions can be used to move money between General Ledger accounts, correct errors, and enter other transactions that are not specific to debtors and creditors. PACS Financial Training Activity Guide Page 30
Adding a General Journal Entry Activity Page number in Financial User Guide: Create the following General Journal for your Payroll: Date: 27/06/2014 Reference: Payroll June 2014 G/L Description Debit Credit Account 5.501 Secretarial Salaries 754.50 5.540 Cleaning & Gardening Salaries 452.70 5.513 Superannuation Guarantee Levies 60.36 8.9991 Salary and Wages Clearing 1079.20 8.9992 PAYG Clearing 128.00 8.9993 Superannuation Clearing 60.36 POST and SAVE the transaction PACS Financial Training Activity Guide Page 31
Recurring Transactions Create a Recurring Transaction Document Reference Document: Financial User Guide Pages: Discussion What is a RECURRING TRANSACTION? What types of transactions can be used as RECURRING TRANSACTIONS? Does your Parish have any transactions that could be used as a RECURRING TRANSACTION? Continued on next page PACS Financial Training Activity Guide Page 32
Create a Recurring Transaction, Continued Activity Let s create a RECURRING TRANSACTION based on the MAKE WITHDRAWAL for Internet Usage that we created earlier. Where do we find Recurring Transactions? What will the TRANSACTION TYPE be? Enter the following details for the Recurring Transaction: Reference: Monthly Internet Fee Transaction Number: Select the Make Withdrawal entered for Internet Usage earlier. Frequency: Monthly LastProcess Date: 27/06/2014 Reminder List The REMINDER LIST needs to have RECURRING TRANSACTIONS added as a REMINDER DATE. This means that when the recurring transaction is due, it will appear on your reminder list. Page number in Financial User Guide: Where do we access the Reminder List? Add RECURRING TRANSACTION to the REMINDER DATES. Processing Recurring Transaction Page number in Financial User Guide: Let s process the RECURRING TRANSACTION. Tips: GENERAL LEDGER RECURRING TRANSACTIONS Select the TRANSACTION TYPE Select the transaction PROCESS Note: The recurring transaction is entered as today s date. EDIT the make withdrawal to change the date to the 27/07/2014. Posting Don t forget to POST the transaction! PACS Financial Training Activity Guide Page 33
Voiding Transactions Overview Document Reference Document: Financial User Guide Pages: Introduction Voiding a transaction, is cancelling, or reversing a transaction. Which transactions can be voided? When would we need to VOID a transaction? Note: Transactions must be saved and posted in order to be voided. PACS Financial Training Activity Guide Page 34
Voiding a Giving Receipt Activity Page number in Financial User Guide: Ensure any EFT Schedules have been processed for the last Giving Date. Where can we check this? Ensure all GIVING RECEIPTS have been posted. Where can we check this? Go to the GIVING RECORDING form, and locate the Giving processed on 01/06/2014. The Credit Card payment for envelope 404 - Samantha Sheen has been declined on the 3/06/2014. We need to VOID this Giving Receipt. Select the receipt for the above envelope. Click on VOID at the bottom of the form. The VOID DATE is the 3/06/2014 The VOID REASON is Returned Payment. How is this receipt displayed in the Recording form? Tip: The Void date should match the bank statement date for a returned payment. This date cannot be changed at a later stage. PACS Financial Training Activity Guide Page 35
Voiding a Sundry Receipt Activity Page number in Financial User Guide: A receipt was processed for tickets to the Social Night Fundraiser, but the cheque has been declined. We need to VOID the receipt. Locate the receipt with the following details. RECEIVED FROM: Mr and Mrs Petrie DATE: 18/05/2014 AMOUNT: $120 PAYMENT METHOD: Cheque Check that the receipt is posted. VOID the Receipt, with a VOID DATE of 29/05/2014. The VOID REASON is Returned Payment PACS Financial Training Activity Guide Page 36
Voiding a Cheque Activity Page number in Financial User Guide: A cheque was written to the Primary School for a donation. The school notified us on the 18/06/2014 that the cheque has been misplaced. We need to VOID the cheque. Locate the cheque with the following details. CHEQUE DATE: 04/06/2014 CHEQUE NUMBER: 100360 TO: St Patrick s Primary School AMOUNT: $100 Check that the cheque is posted. VOID the cheque, with a VOID DATE of 18/06/2014. PACS Financial Training Activity Guide Page 37
Monthly Bank Reconciliation Bank Reconciliation Document Reference Document: Financial User Guide Pages: Bank Reconciliation What is the purpose of a BANK RECONCILIATION? Where is Bank Reconciliation located? Key pieces of Information: Bank Account Date (end of the month) Begin Balance (this is automatically entered as the same as the end balance on the previous bank reconciliation). End Balance Note: Though bank reconciliations are generally completed on a monthly basis, there are some accounts that issue statement only each quarter or half year. Reconciliations can be created for the appropriate time frame. Continued on next page PACS Financial Training Activity Guide Page 38
Monthly Bank Reconciliation, Continued Activity 1 Carry out the following Bank Reconciliation: St Mary's Parish Bank Statement Period Ending 31/05/2014 Opening Balance $ 102672.50 Date Description Payment Deposit 28/04/2014 Deposit Cash $ 88.00 28/04/2014 Cheque 100354 $ 88.00 5/05/2014 Deposit Cash $ 159.00 5/05/2014 Cheque 100357 $ 100.00 5/05/2014 Cheque 100358 $ 180.00 12/05/2014 Deposit Cash $ 241.00 11/05/2014 Cheque 100355 $ 76.50 19/05/2014 Deposit Cash & Cheque $ 230.00 25/05/2014 Deposit CC $ 259.00 26/05/2014 Deposit Cash $ 76.00 29/05/2014 Cheque declined $ -120.00 Total $ 444.50 $ 933.00 Closing Balance $ 103161.00 A Sundry Receipt has been declined on this bank statement. The receipt transaction needs to be voided in PACS to show that these amounts have been declined by the bank. We voided this transaction during the Void Transactions activities. PACS Financial Training Activity Guide Page 39
Bank Reconciliation Reports Document Reference Document: Financial User Guide Pages: Reconciled Transactions Preview the PRINT STATEMENT report. Unreconciled Transactions Preview the PRINT RECONCILIATION report. PACS Financial Training Activity Guide Page 40
Bank Reconciliation Activity 2 Carry out the following Bank Reconciliation: St Mary's Parish Bank Statement Period Ending 30/06/2014 Opening Balance $ 103161.00 Date Description Payment Deposit 1/06/2014 Bank Charges $ 50.00 1/06/2014 Cheque 100353 $ 50.00 2/06/2014 Cheque 100359 $ 75.00 2/06/2014 Deposit Cash $ 190.00 2/06/2014 Deposit CC $ 125.00 3/06/2014 CC declined:404 $ -39.00 9/06/2014 Deposit Cash $ 99.00 15/06/2014 Deposit DD: 400 $ 40.00 16/06/2014 Cheque 100356 $ 67.00 16/06/2014 Deposit Cash $ 119.00 23/06/2014 Deposit Cash $ 99.00 27/06/2014 Bigpond $ 60.00 27/06/2014 CDF $ 400.00 Total $ 702.00 $ 633.00 Closing Balance $ 103092.00 Continued on next page PACS Financial Training Activity Guide Page 41
Bank Reconciliation Activity 2, Continued Bank Reconciliation Activity 2 - continued Enter a Make Withdrawal for the bank charge from the Commonwealth Bank. Allocate the charges to GL account 5.580 Interest - Bank & Financial Institutions. A Giving Receipt has been declined on this bank statement. The receipt transaction needs to be voided in PACS to show that these amounts have been declined by the bank. We voided this transaction during the Void Transactions activities. Cheque 100353 is incorrectly dated in PACS as 25/07/2014. The cheque date was actually the 27/05/2014. The date needs to be corrected before the cheque is selected on the Bank Reconciliation. Refer to Unpost a Write Cheque or Make Withdrawal for this training activity. If the cheque date is not corrected what is the impact on your PACS Bank Reconciliation reports? PACS Financial Training Activity Guide Page 42
Unpost a Write Cheque or Make Withdrawal Unpost A Write Cheque Write Cheques can be unposted and edited to correct an error in entering your cheque information into PACS. Example: The date entered into PACS for the write cheque is different to the actual date on the cheque. This can occur when you manually write your cheques and enter the details into PACS later. The write cheques are accessed from the GENERAL LEDGER WRITE CHEQUES form. Activity Cheque 100353 for Jeff Jones was incorrectly dated 25/07/2014. The cheque date was actually the 27/05/2014. The date needs to be corrected before the cheque is selected on the Bank Reconciliation. How do you find the cheque? How do you correct the date? Tip: The steps to correct the date are: Click on UNPOST Click on EDIT and change the date Click on SAVE and POST Unpost A Make Withdrawal The process to unpost a Make Withdrawal is the same as to Unpost a Write Cheque. The only difference is the Make Withdrawals are accessed from the GENERAL LEDGER MAKE WITHDRAWALS form. PACS Financial Training Activity Guide Page 43
Business Activity Statement Overview Document Reference Document: Financial User Guide Pages: Introduction BUSINESS ACTIVITY STATEMENT generates your BAS for you to add in any PAYG details. Your BAS will be accurate as the data you enter into PACS. There are a few rules: Transactions must be dated within the BAS period. Transactions must be POSTED to contribute to the BAS. The BAS picks up transactions based on the tax code used. When completed, the BAS MUST be lodged. PACS Financial Training Activity Guide Page 44
Adding a New BAS Activity 1 Page number in Financial User Guide: ADD your next BAS. Look at all the details. Do you add PAYG details into your BAS? If so, where are they added? In this example, we will NOT add PAYG details. SAVE the BAS. Lodging the BAS We will not lodge the BAS yet as we will create a GENERAL JOURNAL ENTRY that will change our BAS. PACS Financial Training Activity Guide Page 45
BAS Reports Activity Page number in Financial User Guide: There are 3 reports used for the BAS. Let s PREVIEW these: REPORTS GENERAL LEDGER BAS BUSINESS ACTIVITY STATEMENT DETAILS Lists all transactions that have been included on the selected BAS, this report can be grouped by Tax Type or Tax Group. REPORTS GENERAL LEDGER BAS BUSINESS ACTIVITY STATEMENT EXCLUSION DETAILS Lists all transactions that have not been included on the selected BAS, this report can be sorted by Transaction Date, Account ID or Tax Type. REPORTS GENERAL LEDGER BAS BUSINESS ACTIVITY STATEMENT RECONCILIATION This first section of the report is a summarized version of the Business Activity Statement Details report, grouped by tax type. Note: These reports should be checked immediately after each BAS, but before the BAS has been lodged. PACS Financial Training Activity Guide Page 46
General Journals to correct the BAS Activity 1 Page number in Financial User Guide: On the 1/06/2014 a SUNDRY RECEIPT was processed with the following details: From: Ted Bull Funerals Amount: $80 G/L Account: 4.303 Special Collections Tax Code: GST FREE It should have been processed with the following details: From: Ted Bull Funerals Amount: $80 G/L Account: 4.343 Funeral Hire Tax Code: GST Create the following General Journal: Date: 1/06/2014 Reference: Correction to GL and tax code G/L Account: 4.303 Special Collections Debit - $80 FRE G/L Account: 4.343 Funeral Hire Credit - $80 GST Note: When entering a journal to correct a transaction, or contribute to the BAS, always date it the same date as the original transaction. POST and SAVE the transaction Continued on next page PACS Financial Training Activity Guide Page 47
General Journals to correct the BAS, Continued General Journal Tips If correcting a tax code, the General Journal must be POSTED to contribute to the BAS. If correcting an income account code: DEBIT the incorrect transaction CREDIT the correct transaction If correcting an expense account code: CREDIT the incorrect transaction DEBIT the correct transaction If transferring money between bank accounts: CREDIT the account the money is being transferred OUT of. DEBIT the account that money is being transferred IN to. Activity 2 On the 02/06/2014 a WRITE CHEQUE was processed with the following details: Cheque Number: 100359 Amount: $75 G/L Account: 5.504 Repairs and Maintenance Equipment Tax Code: NCG It should have been processed with the following details: G/L Account: 5.540 Cleaning and Gardening Salaries Tax Code: blank PACS Financial Training Activity Guide Page 48
Recalculating a BAS Introduction When a transaction has been entered and posted within the BAS period the BAS then needs to be recalculated. Note: A BAS can only be recalculated up until it has been lodged in PACS. If a transaction is entered for a BAS period that has been finalized in PACS it will be allocated to the next available BAS. Step by Step Follow the steps in the table below to recalculate the BAS. Step Action 1 Select GENERAL LEDGER BUSINESS ACTIVITY STATEMENT 2 Ensure you are in VIEW mode. 3 Locate the last BAS using the navigation buttons. Note: Take note of the RECALCULATE button. 4 Change to EDIT mode. Result: The RECALCULATE button will become active. Click on the DEBITS & CREDITS tab and take note of cell 3. Continued on next page PACS Financial Training Activity Guide Page 49
Recalculating a BAS, Continued Step by Step (continued) Step Action 5 Click on the RECALCULATE button. What has happened to cell 3? 6 SAVE the BAS and PREVIEW the report. 7 Once you are certain that the information on the BAS is correct click on the LODGE Button. Result: This fixes the information on the BAS. Note: When you have checked and completed the BAS and you are sure it is correct you MUST LODGE the BAS in PACS by clicking on the LODGE button on the BAS form. This stops the information on the BAS being changed, from that used to submit the BAS to the ATO. The BAS has to be lodged in order. Eg December has to be lodged before March can be lodged. Once the BAS has been lodged it can only be unlodged until the next BAS is created. Unlodging the BAS may result in the figures recorded for the BAS being changed. If you have submitted the BAS details to the ATO and then unlodge the BAS any changes to the BAS details will need to be notified to the ATO. PACS Financial Training Activity Guide Page 50
Submit the BAS to the ATO Introduction The BAS details can be submitted to the ATO by transferring the details from the BAS report to the BAS form supplied by the ATO and sending the form to the ATO. electronically via the ATO Business Portal. You need to register with the ATO to use their Business Portal. Step by Step Follow the steps below to lodge the BAS via the ATO Business Portal Step Action 1. Select GENERAL LEDGER BUSINESS ACTIVITY STATEMENT. 2. Locate the BAS you want to submit. 3. Ensure the BAS is ready to be submitted. The details have been checked and finalised and the BAS has been lodged in PACS. 4. Click the SUBMIT TO ATO button. Continued on next page PACS Financial Training Activity Guide Page 51
Submit the BAS to the ATO, Continued Step by Step (continued) Step Action 5. Select the appropriate form in the BAS FORMS drop down list. The OBLIGATIONS for the selected form are set, these cannot be changed. 6. Select the location of the BAS.xslt file in THE SELECT BAS.XSLT FILE field. The BAS.XLST file is located in the folder where the PACS program is installed. 7. Click SUBMIT. 8. The BAS details are displayed on screen. Check the details are as expected. Continued on next page PACS Financial Training Activity Guide Page 52
Submit the BAS to the ATO, Continued Step by Step (continued) Step Action 9. Click CONTINUE IN PORTAL at the bottom of the display to transfer the details to the ATO Business Portal. 10. Enter the details required by the ATO Business Portal. PACS Financial Training Activity Guide Page 53
Asset Register Overview Document Reference Document: Financial User Guide Pages: Introduction The Asset Register records the details of all the assets owned by the Parish. These Assets can then be reported on when required. Discussion Do you have any GL codes that are always used to purchase Assets? How would you flag this GL account so you are asked to enter asset details when you pay for the asset purchase? PACS Financial Training Activity Guide Page 54
Adding Assets Activity 1 Page number in Financial User Guide: Add the following Asset Details: Status In Service Description Photocopier Make Xerox Model BF1425S Serial Number T5269845 Barcode 002500 Category Office Equipment Location Office Responsibility Administration Responsible Staff Mary Hayes Insurer ABC Insurance Company Policy Number SIC008541256 Renewal Date 31/03/2016 Replacement Value $1700 Date Purchased 15/2/2014 Purchase order number D567 Purchased From Xerox Photocopiers Limited Warranty Details 3 years Quantity 1 Purchase Value 1700 Continued on next page PACS Financial Training Activity Guide Page 55
Adding Assets, Continued Activity 2 Add the following Asset Details: Status In Service Description Printer Make HP Model HP321 Serial Number 765578 Barcode 002501 Category Office Equipment Location Office Responsibility Administration Insurer Not Insured Policy Number blank Renewal Date blank Replacement Value $400 Date Purchased 17/05/2014 Purchase order number D568 Purchased From Human Edge Software Warranty Details 2 years Quantity 1 Purchase Value 400 PACS Financial Training Activity Guide Page 56