Red Wing Windows Accounting Series
General Ledger
by
Red Wing Business Systems, Inc.
All rights reserved. No part of this book or system may be reproduced or transmitted in
any form or by any means, electronic or mechanical, including photocopying, recording, or
by information storage retrieval system, without permission in writing from the publisher.
Changes in tax law, business practice, or your operating environment may cause your system
to require changing. Red Wing cannot guarantee these changes will be reflected in future
releases of software.
This system is sold with the understanding the publisher is not engaged in rendering
legal, accounting, or other professional service. If legal advice or other expert
assistance is required, the services of a competent professional should be sought.
Microsoft, Microsoft Access, Microsoft Word and Microsoft Excel are all registered
trademarks of Microsoft Corporation. Windows is a trademark of Microsoft Corporation.
Portions copyrighted by Open Systems, Inc.
Copyright Red Wing Business Systems, Inc. May 1999, Revised October 2000
ISBN 0-87265-256-4
Important
Please complete the software licensing agreement and return the white copy
to Red Wing Business Systems. Returning the licensing agreement benefits
you in the following ways:
Upon receipt of your agreement, we check your serial numbers to make sure
you have a current version of our product. If you do not have a current
version, we send you one at no charge.
We keep you informed of improvements to our software, including releases
of new versions. We also send any seminar information to you.
Complete the licensing agreement and
mail the white copy today!
Table of Contents
Chapter One
Introduction
Chapter Two
Getting Started
Chapter Three
Practice System
Chapter Four
Helpful Procedures
Introduction ................................................................................... 1- 2
General Ledger Flexibility............................................................... 1- 2
Windows Compatible ..................................................................... 1- 3
How to Get Help ............................................................................ 1- 3
General Ledger Features ............................................................... 1- 4
How This Manual is Organized....................................................... 1- 7
General Ledger User’s Guide Formatting Standards ...................... 1- 8
How to Set Up the General Ledger .................................................
Before You Begin...........................................................................
Defining IDs, Codes and Accounts .................................................
1. Complete Setup in System Manager ..........................................
2. Set Up Customization ................................................................
3. Set Up Accounts ........................................................................
4. Optional Information ..................................................................
5. Set Up Financial Statements......................................................
6. Make Opening Entries................................................................
7. Budget and Forecast Balances...................................................
8. Set Up a Backup Schedule.........................................................
2- 2
2- 2
2- 3
2- 4
2- 4
2- 4
2- 7
2- 8
2- 9
2-10
2-10
Exercise 1: Set Up New Company ................................................
Exercise 2: Add A New Profit Center .............................................
Exercise 3: Enter Beginning Balance Transactions ........................
Exercise 4: Print Financial Statements ..........................................
3- 2
3- 8
3-14
3-19
How to Set Up Autosplit Accounts ................................................. 4- 2
How to Enter Beginning Balances ................................................. 4- 2
How to Process Transactions ........................................................ 4- 4
How to Set Up Financial Statements ............................................. 4- 5
How to Change the Fiscal Year ..................................................... 4- 6
Year-End Processing ..................................................................... 4- 6
Table of Contents
iii
Chapter Five
Transactions
Chapter Six
Red Wing DOS
Interface
Chapter Seven
Transaction
Reports/Post
Chapter Eight
Management Reports
Chapter Nine
End-of-Year
iv
Transaction Entry — Overview .....................................................
Transaction Entry.........................................................................
Transaction Options................................................................
Out of Balance........................................................................
Copy Recurring Transactions .......................................................
Copy Recurring Transactions Report ......................................
Copy Recurring Transactions Error Listing ..............................
Copy Recurring Transactions Copy Listing ..............................
Edit Transactions .........................................................................
Edit Transactions Options .......................................................
Edit Transactions Out of Balance ............................................
5- 2
5- 5
5- 8
5-10
5-12
5-14
5-16
5-17
5-18
5-21
5-22
Retrieve Transactions .................................................................. 6- 2
Edit Transactions (Accounts) ....................................................... 6- 5
Edit Transactions (Periods) .......................................................... 6- 6
Create Chart of Accounts ............................................................. 6- 8
Transaction Journal .....................................................................
Account Activity ...........................................................................
Post Transactions ........................................................................
Review Transactions ....................................................................
Account Inquiry ............................................................................
Check Register ............................................................................
7- 2
7- 5
7- 8
7-12
7-14
7-16
Report Command and Toolbar Buttons ........................................
Working Trial Balance..................................................................
Trial Balance................................................................................
Financial Statements ...................................................................
Cash Flow Report ........................................................................
Graphical Report..........................................................................
Budget/Actual Report ...................................................................
8- 2
8- 5
8- 7
8- 9
8-20
8-23
8-28
End-of-Year .................................................................................
Change Current Fiscal Year .........................................................
Add Prior Fiscal Year ...................................................................
Remove Fiscal Year.....................................................................
9999-
Table of Contents
2
3
4
5
Chapter Ten
Utilities
Chapter Eleven
Special Options
Chapter Twelve
Setup and
Maintenance
Chapter Thirteen
Management Reports
Setup
Recalculate Account Balances .....................................................
Zero Account Balances ................................................................
Summarize Transactions .............................................................
Copy Account Balances ...............................................................
Copy Chart of Accounts ...............................................................
Copy Sample Chart of Accounts...................................................
10- 2
10- 3
10- 5
10- 7
10- 9
10-12
Change Posted Transactions .......................................................
Report Designer ...........................................................................
Change Account Number .............................................................
Change Account Structure ...........................................................
Consolidated Statements .............................................................
ASCII Input ..................................................................................
111111111111-
Customization..............................................................................
Account Structure ........................................................................
Account Classes ..........................................................................
Account Types .............................................................................
Account Segments/Profit Centers.................................................
Chart of Accounts ........................................................................
Account Autosplits .......................................................................
Recurring Transactions ................................................................
Account Budgets..........................................................................
Account Balances ........................................................................
12- 2
12- 4
12- 7
12- 8
12-10
12-12
12-16
12-18
12-21
12-25
Define Statement Contents...........................................................
Maintain Statement Contents ..................................................
Add New/Insert/Edit ...........................................................
Copy Statement Content .........................................................
Delete Statement Content .......................................................
Build Statements..........................................................................
Maintain Statement .................................................................
Copy Statement ......................................................................
Delete Statement ....................................................................
Define Cash Flow Contents ..........................................................
Build Report Queues ....................................................................
Maintain Queues.....................................................................
Add/Insert/Edit ...................................................................
Copy Queues..........................................................................
Delete Queues ........................................................................
Pretest Queues .......................................................................
13- 2
13- 4
13- 7
13-10
13-11
13-12
13-13
13-16
13-17
13-18
13-21
13-22
13-24
13-26
13-27
13-28
Table of Contents
2
3
4
5
6
7
v
Chapter Fourteen
Setup and
Maintenance Lists
Chapter Fifteen
Basic Accounting
Concepts
Appendix
vi
Account Classes List....................................................................
Account Types List.......................................................................
Account Segments/Profit Centers List ..........................................
Chart of Accounts List ..................................................................
Account Autosplits List .................................................................
Recurring Transactions List..........................................................
Statement Contents List ...............................................................
Statement Definitions List ............................................................
Cash Flow Contents List ..............................................................
Report Queues List ......................................................................
14- 2
14- 4
14- 6
14- 8
14-11
14-13
14-15
14-17
14-19
14-21
Introduction ...................................................................................
Key Accounting Terms and Concepts.............................................
Understanding and Using Double Entry Accounting........................
Using Financial Statements in Decision Making .............................
Balance Sheet — Example and Analysis..............................
Income Statement — Example and Analysis ........................
Combining the Income Statement and Balance
Sheet to Make Decisions .....................................................
How You Can Learn More ..............................................................
Chart — Relationships Between Debits, Credits and the Basic
Accounting Equation......................................................................
15- 2
15- 3
15- 9
15-12
15-12
15-13
15-14
15-15
15-16
How to Order Checks and Forms ................................................... 16- 2
How to Sign Up for Red Wing Customer Support ........................... 16- 2
Glossary ........................................................................................ 16- 3
Table of Contents
Chapter One — Introduction to the General Ledger
This chapter introduces the General Ledger, its features and
the organization of the User Guide.
Contents
Introduction..............................................................................
General Ledger Flexibility .........................................................
Windows Compatible ...............................................................
How to Get Help.......................................................................
General Ledger Features..........................................................
How This Manual is Organized .................................................
User Guide Formatting Standards ............................................
Introduction to the General Ledger
1111111-
2
2
3
3
4
7
8
1-1
Introduction
'
'
'
The Red Wing General Ledger organizes the information you need to
make sound financial decisions, making financial planning more efficient,
accurate and faster.
It is a double entry accounting system, following Generally Accepted
Accounting Principles (GAAP) suggested by the Financial Accounting
Standards Board, giving you accurate, up-to-date financial information
that is extremely useful to you, your banker and your accountant.
For Help on Red Wing standard key commands, the menu bar, the toolbar,
and other general definitions, see your Windows Accounting Series
Getting Started Guide.
General Ledger Flexibility
'
'
'
1-2
Customize the General Ledger to accommodate your business, regardless
of size or complexity. Set up your own Chart of Accounts, using the
sample data as a template or design a new Chart of Accounts perfectly
suited to your operation. Also, define reports and profit centers according
to your specifications.
When setting up the General Ledger you can determine your account
number size, its format, and how it will be entered. You can also control
period ending dates and the length of periods (months, quarters, etc.).
As you begin, design the General Ledger as a simple financial
management system. Later, add options as you become comfortable with
them — without changing software or affecting your data.
Introduction to the General Ledger
Windows Compatible
'
'
'
The General Ledger is a Windows-based system with all the windows
versatility and power. The system follows normal windows standards and
utilizes many windows features, including easily accessed online help and
access to powerful printing and e-mail capabilities.
Developed using Microsoft Access 97, the system lets you use Object,
Linking and Embedding (OLE) to send reports to Microsoft Word and to
Microsoft Excel.
You can also quickly switch from your General Ledger to other windows
software, such as spreadsheets and word processing programs.
How to Get Help
'
'
'
'
'
'
Online Help — Anytime you need help while working in the General
Ledger, press F1 to display online help. You can also click on the Help
icons to get help, or choose from the help selection on the Help Menu.
Sample Data — Use Red Wing’s sample data (with SAM as the
company code) to practice new activities or to refresh your memory on
infrequently used activities.
Cue Cards — Handy Cue Cards stay on top of your screen, giving you
step-by-step directions for many procedures.
User Guide — The User Guide is another useful source of help. Use the
comprehensive table of contents, glossary and index to search for terms
and activities.
Custom Help — Press Shift F1 to create your own online help notes for
any screen.
Customer Support — And remember, Red Wing’s Customer Support
team is available to subscribers, ready to answer any of your questions,
quickly and competently. For more information call 1-800-732-9464.
Introduction to the General Ledger
1-3
General Ledger Features
Profit Center
(Enterprise)
Accounting
'
'
Comprehensive
Reports
'
'
'
'
Graphs
1-4
'
Good management requires your knowledge of the profitability of each
profit center (or division, department, etc.) in your business. With the Red
Wing General Ledger, handle an unlimited number of profit centers. Also,
split overhead expenses among profit centers.
Define one of the account segments as a profit center and make the
segment as large as necessary. For example, a two-character segment can
handle 100 profit centers, while a three-character segment can handle
1,000.
Set up General Ledger Reports quickly and easily and customize them to
show the information you want.
The standard report formats work for most businesses, but you can change
key financial statements (Income Statement, Balance Sheet, Cash Flow) to
print exactly how you want them. You can change how the reports look
(where totals are printed, what order accounts are listed in, what type of
subtotals are included, etc.) so they fit your specific requirements.
All reports have a variety of selection criteria you can use to change the
amount of information included on the report. For example, you could
restrict the report to a specific profit center.
Send reports directly to Microsoft Word or Excel for special formatting
when you want to make them look especially good for a presentation. For
example, make the report headings big and bold, add color, or add your
logo to the report. You can even add graphs to your report. The possibilities are endless when you tap into the power of Microsoft Word or Excel.
Use these exciting, visual representations to show trends and comparisons
by account. There are five different graph types:
• vertical bar
• line graph
• vertical bar 3-D
• line graph 3-D
• pie chart
Introduction to the General Ledger
Transaction
Entry
'
'
'
Additional
Features
Enter transactions into prior years as well as the current year. This makes
it very easy to close the current year and to go on with a new year while
waiting for end-of-year adjustments. You no longer have to accumulate
several weeks of entries for the new year while waiting for some final
checks or bills from last year.
Enter recurring transactions. It is very easy to set up your common
monthly bills and then select them at the end of each month.
Enter reversing transactions to easily record accruals in one period and
automatically reverse them in the next.
Split Expenses — The handy autosplit feature lets you split expenses among
profit centers. You can define accounts so that transactions entered to those
accounts are automatically split into several other accounts. This is useful, for
example, when you have multiple profit centers and you want to split a
percentage of each bill to those profit centers.
Network Compatible —Use multiple menu level passwords to restrict
access.
Flexible, Expanded Account Number — When you set up your accounting
system in the System Manager you can have an account number with up to 10
numeric or alphanumeric characters, separated into as many as three segments,
such as “main,” “subaccount,” and “profit center.” You decide how many
sections and how long each is. For example, you could use any of the following
account formats: 1030-00, 5310-16-170, 1014171.A10, or CHECKING.
Flexible Periods — You can keep multiple years open at one time, with up
to 13 periods active in the current and all past years. You can use quarters,
months or four-week periods.
History — History is maintained for an unlimited number of years. You
decide when to remove the past years’ history.
Post from other Red Wing Modules — You can post to the General
Ledger system from the other Windows Accounting Series modules, from Red
Wing’s popular Windows Payroll, and from Red Wing DOS systems.
Introduction to the General Ledger
1-5
Quantities — Track both primary and alternate quantities and units of
measure.
Projects — Enter project codes during transaction entry.
Error Recovery — If your data files are damaged or become unusable, and
your backup is not recent, the system lets you attempt to correct and recover
damaged files.
Utilities — Use these miscellaneous selections to recalculate account balances,
zero account balances, summarize transactions and copy a sample chart of
accounts.
Multiple Budgets — You can continue using the current year budget while
working on next year’s. Budgets can be set up for all accounts based on prior
budget or prior actual amounts. They can also be adjusted by a percentage of
the prior values.
Queue Processing — A queue lets you process reports while you are away
from your computer. You can set up several queues, each with its own unique
name. Set up queues to make sure you print all end-of-month reports.
Special Options
Special Options are handy add-on programs you can purchase to add even more
power to your Red Wing Windows General Ledger. Special Options interface
seamlessly with the General Ledger and are designed to meet unique needs.
Special Options include:
•
Change Posted Transactions
•
Report Designer
•
Change Account Numbers
•
Change Account Structure
•
Consolidated Statements
•
ASCII Input
Contact Red Wing Business Systems, Inc. at 1-800-732-9464 or e-mail
[email protected] for more information about Special Options.
1-6
Introduction to the General Ledger
How This User Guide is Organized
The General Ledger User Guide is divided into the following sections.
Chapter 1
Introduction — General Ledger features are listed, along with standards used
in this manual. Also, a list of common toolbar buttons and keyboard commands
provides a handy reference.
Chapter 2
Getting Started — Step-by-step procedures to follow when first setting up
your General Ledger.
Chapter 3
Practice System —Gives an easy introduction and tutorial on some of the
more important features of the Windows General Ledger.
Chapter 4
Helpful Procedures — Frequently used procedures, as well as less frequent,
but important procedures are explained in detail.
Chapters
5 through 14
Reference Guide — The General Ledger Menus are explained, detailing
every menu selection.
Chapter 15
Basic Accounting Concepts — An introduction to double entry
accounting covers basic accounting terms and using and understanding
financial statements.
Appendix
Special helps, including a glossary.
Index
Search by topic for the information you need.
Introduction to the General Ledger
1-7
User Guide Formatting Standards
Notes and hints are identified by a push pin and are printed in italics. These
are important messages and suggestions that can save you time and help you
avoid potential problems.
Extremely important information is printed in boldface type.
Not reading this information or following the suggestions
offered can lead to serious problems.
1-8
Introduction to the General Ledger
Chapter Two — Getting Started
This chapter gives you a step-by-step procedure to follow
when first setting up your General Ledger.
Contents
How to Set Up the General Ledger ...........................................
Before You Begin .....................................................................
Defining IDs, Codes and Accounts ...........................................
1. Complete Setup in System Manager.....................................
2. Set Up Customization...........................................................
3. Set Up Accounts ..................................................................
4. Optional Information.............................................................
5. Set Up Financial Statements ................................................
6. Make Opening Entries ..........................................................
7. Budget and Forecast Balances .............................................
8. Set Up a Backup Schedule ...................................................
Topics
Covered
What steps to take before turning on your computer (page 2-2)
2- 2
2- 2
2- 3
2- 4
2- 4
2- 4
2- 7
2- 8
2- 9
2-10
2-10
How to format IDs, codes, and accounts (page 2-3)
How to determine the account structure (page 2-4)
How to use account classes and account types (page 2-5)
How to use account segments for profit centers and other account divisions
(page 2-6)
Suggestions for setting up a chart of accounts (page 2-7)
How to use autosplits (page 2-8)
How to use recurring transactions (page 2-8)
Recommended procedure for entering beginning balances (page 2-9)
Getting Started
2-1
How to Set Up the General Ledger
Overview
Follow this procedure to set up your General Ledger, from planning the system to
creating profit centers and accounts and making opening entries. The choices
you make during setup determine how your General Ledger system operates.
If you are unfamiliar with double entry accounting, see Accounting Concepts,
Chapter 15.
Before you
begin
1. What decisions do you make from your financial statements?
Write down the kinds of questions your financial statements should answer
— for your banker, for the IRS, and for your own management purposes.
Talk with your loan officer, accountant, or tax consultant to determine what
kind of information they need from you. They may even give you sample
financial statements.
2. Determine the number of profit centers
Write down the names and numbers of your profit center (enterprises) and
departments or divisions (sub-accounts), if you use them.
You can produce financial reports for each profit center you set up or you
can run combined reports for all profit centers.
Start with a minimum number of profit centers. You can easily add profit
centers later.
3. Assign names and numbers to accounts
Use the information from step 1 to decide which accounts to include on the
financial statement.
Use your current Accounts List, Balance Sheet, and Income Statement or
print an Account List from your sample data (Company = SAM) to use as an
example.
There are also Sample Charts of Accounts, for different types of
businesses, included with the system, that can be selected when creating
your data files.
2-2
Getting Started
Balance Sheet — Write down the major section names (example: Assets,
Liabilities, Capital) and subsection names (example: Current Liabilities,
Long-term Liabilities) you want included on the Balance Sheet.
Write down your Balance Sheet account (and subaccounts, if you use them)
names and numbers. This step takes the most time and effort.
Income Statement — Write down the major section names (example:
Income, Expense) and subsection names (example: Cost of Goods Sold,
Operating Expenses) you want to include on the Income Statement.
Write down your Income Statement account (and subaccounts, if you use
them) names and numbers.
A well-planned chart of accounts makes the General Ledger easy to use,
requires little maintenance, and can be easily expanded as a business
grows.
Defining IDs
and Codes and
Accounts
Before you begin assigning IDs, codes or accounts, decide on general naming
conventions to make it easy for users to find them. Establish a format that makes
sense for your business and use it consistently. A few suggestions are listed
below:
•
You cannot use the following characters in an ID, code or account:
|
“
‘
&
#
(reserved for system use)
•
Use zeros to make all IDs the same length to prevent sorting problems. If
they are divided into more than one part, the parts should be the same length
in every ID. Also, do not use spaces to divide IDs into more than one part.
For example, use ACE-01 and ACE-11 or ACE01 and ACE11, instead of
ACE-1 and ACE-11.
•
Use descriptive IDs. For example, WIN001 and WIN002 are more
descriptive than 000001 and 000002.
To sort items by a particular attribute (name or group), put the attribute in the
ID. For example, to organize vendors by name, put the first characters of the
name of the vendor in the vendor ID, such as ACMEFR (Acme Freight
Company) and JOHNSO (Johnson Bros. Freight Company).
Getting Started
2-3
Step 1
Make sure you have completed set-up in the System
Manager.
Steps 2 through 4 and step 7 reference page numbers where you can
find detailed explanations of each setup procedure.
Step 2
Page 12-2
Step 3
Set up Customization in General Ledger
You can set up a forced-balance password for transaction entry, as well as
determine whether or not to use period 13 for normal processing.
Set Up Accounts
General Ledger Account Names/Numbers — A General Ledger
account can consist of 10 alphanumeric characters that can be
grouped into up to three segments. You can separate the segments by
any of several characters.
As you set up accounts, you must define the following items:
Account
Structure
Page 12-4
The account structure specifies the number and type of characters used in
each account segment and the special character used to separate segments (if
desired). Account segments can be separated by hyphens, periods, commas,
slashes, or not separated at all. For example, you could set up your account
structure to accommodate any of the following account names/numbers:
1030-000-1234, Checking, 1234/ABC.
Use any combination of alphanumeric characters to create your accounts.
However, the account must conform to the account structure (format and
length). For example, you cannot have account number 1030-00 and 251.A3
for the same company.
Account Structure is a selection on the Setup and Maintenance Menu. See
page 12-4.
2-4
Getting Started
You CANNOT change the account number format or length after account
numbers have been entered. Be sure you allow for growth and change
when setting the length. The Red Wing default account length is six
numeric characters: account number = 4; profit center = 2. For example,
checking account number 1030-00.
If you interface with the DOS versions of the Red Wing software, check the
allowable size of the account number in the DOS modules and set the
Windows size the same.
Account
Classes
Page 12-7
An account class is the general category an account fits into; for example,
long-term asset, current asset, or long-term liability. Red Wing has several
predefined classes already set up. You can easily change the account class
descriptions to fit your business.
Account classes are used to simplify financial statement setup.
When you are finished, print the Account Classes List, page 14-3.
Account
Types
Page 12-8
Account types are a further classification of accounts. They are predefined by
Red Wing and contain more detailed information than account classes. For
example the Current Asset account class may have account types of Cash on
Hand, Cash in Bank, and Accounts Receivable.
Account types are used to group accounts together to produce statements,
such as the Income Statement and Cash Flow. Each account type has an
account class and account code associated with it. The account code indicates
whether it is a debit, credit or memo account.
You can view account types and change account type descriptions.
When you are finished, print the Account Types List, page 14-5.
Getting Started
2-5
Account
Segments /
Profit Centers
Page 12-10
Account segments simplify financial reporting and statement setup. For
example, you can use segments to show information in financial statements
for whatever the segments represent — profit centers, divisions, departments
or subaccounts. Segments allow you to produce a financial statement for only
one profit center or for the whole company.
For several General Ledger reports you can select ranges of segments and
you can specify the order of the segments. The descriptions you assign to
each segment appear in the report title.
Example — In a typical account numbering system, segment 1
numbers are used to indicate significant groups (assets, liabilities,
equity, income, and expenses). For example, segment 1 numbers 10001999 are assets, 2000-2999 are liabilities, etc. You could identify
segment 1 as MAIN.
You could set up segment 2 for subaccounts, described as SUB. You
might enter these descriptions:
001
002
003
Minnesota
Wisconsin
Illinois
Segment 3 could be profit centers or divisions, described as
Individual descriptions could be:
or:
10
20
30
40
Accounting
Administration
Sales and Marketing
Shipping and Receiving
10
20
30
Hardware Sales
Rental Equipment
Repairs
PCTR
or DIV.
Remember, you cannot use the characters | “ ‘ & # in an
account code, since they are reserved for system use.
When you are finished, print the Account Segments List to make sure
the segments are correct and to use as a reference. See page 14-6 to print
the list and page 14-7 for an example of an Account Segments/Profit
Centers List.
2-6
Getting Started
Chart of
Accounts
After setting up all the account “pieces,” it is time to set up your chart of
accounts.
Page 12-12
If you interface the General Ledger with other Red Wing applications, see
the appropriate user manuals for information about the accounts you need to
post entries from.
Here are some suggestions for setting up your chart of accounts:
•
Use the main account numbers and account types to divide accounts into
significant groups — assets, liabilities, equity, income, and expenses.
These groups make it easy to select account categories when printing
reports and statements by selecting the appropriate range.
•
If you use the same account numbering structure for several companies,
you can save time by building one company’s chart of accounts and then
copying it to each of the other companies. You can also copy budget,
last-year balances, forecast amounts, and the account structure from one
company to another, one division to another, one profit center to
another, etc. within the same company.
•
Use the same segment ranges for all companies to simplify setting up
the system. You can use the same sets of statement contents for all
companies when you print financial statements.
•
Use memo accounts to record miscellaneous figures that may be useful
in preparing statements; for example, to list the number of shares of
stock outstanding.
When you are finished, print the Chart of Accounts List, page 14-8.
Step 4
Optional Information
Set up this information anytime! You can run the General Ledger without
setting up the following information. However, you will find you can work
more efficiently if you take advantage of these features.
Getting Started
2-7
Account
Autosplits
Page 12-16
If you enter transactions against one major account and then distribute them
to several other accounts and/or profit centers, you can set up an autosplit
record for the major account, specify each account to which transactions are
distributed and the percentage that each receives. The sum of the percentages
must equal 100 percent.
Once autosplit records are set up, you can enter transactions against the
major account and indicate that the transactions should be autosplit by
checking the box in the autosplit field. When you post, the system creates
entries as specified in the autosplit record.
When you are finished, print the Autosplits List, page 14-11.
Recurring
Transactions
Page 12-18
Journal entries made regularly, every week or every month, are called
recurring transactions. When you want to copy the recurring transactions
(set up on the Setup and Maintenance Menu), use the Copy Recurring
Transactions selection on the Transactions Menu.
Depending on how you set up Customization (page 12-2), recurring transactions
are either copied directly to the Transaction Journal or to Edit Transactions,
where they can be changed before posting to the Transaction Journal.
You can set up both reversing entries and recurring entries as recurring
transactions. Reversing entries are entered in one month and automatically
reversed the next.
If the General Ledger is interfaced with other Red Wing applications, some
recurring transactions may be better tracked through those applications. For
example, you can use Accounts Payable to print monthly rent checks and
create the proper General Ledger entry.
Step 5
Set up Financial Statements
Red Wing comes with default financial statement formats. However, if you
want to set up your own, see “How to Set Up Financial Statements” in
Chapter Three for a detailed explanation of the process to follow when
setting up your Balance Sheet, Income Statement and Cash Flow Reports.
RECOMMENDATION: Start with Red Wing’s default report
formats and wait to make changes until you become more
familiar with the system.
2-8
Getting Started
Step 6
Make Opening Entries
Opening entries are made only one time, when you first begin using your
General Ledger.
This procedure is normally used to enter the actual beginning balances for each
past period in the current fiscal year. You have several options, as follows:
Recommended
Procedure for
Opening
Entries
1.
RECOMMENDED. To produce an audit trail of all the entries in the
current fiscal year, enter the individual transactions in the Transaction
Journal and post them to the appropriate periods.
2.
You can produce a less detailed audit trail by entering one transaction
representing the total period activity for each account that has activity in
each period (except the current one). Then post the entries to the appropriate
periods. For the current period, enter and post individual transactions.
3.
If you do not need an audit trail (NOT RECOMMENDED), enter the
beginning balances and the net change in each period for each account when
setting up a company’s chart of accounts.
1.
Enter all the transactions (or the total period activity) for each account for
period 1. See Transaction Entry, page 5-2.
2.
Use Copy Recurring Transactions (page 5-12) to copy any recurring
transactions for period 1. Then use Edit Transactions (page 5-18) to edit
them and write them to the Transaction Journal (or write them directly to
the Transaction Journal).
3.
Print the Transaction Journal (page 7-2) for period 1 and check it for errors.
4.
Use Edit Transactions (page 5-18) to correct any errors and reprint the
Transaction Journal.
5.
Post the period 1 transactions (page 7-8).
6.
Print a Trial Balance for period 1 to check for errors (page 8-7).
Getting Started
2-9
7.
If there are any errors in the Trial Balance, use Transaction Entry to make
correcting entries. Then post the entries and reprint the Trial Balance.
8.
Print Financial Statements for period 1 (page 8-9).
9.
Repeat these steps for each past period in the current fiscal year.
When you finish entering the activity for the past periods, you can begin entering
the transactions for the current period.
Step 7
Page 12-21
Step 8
Budget and Forecast Balances
You can set up this information anytime. If you want to use past years’
actual balances as a starting point, wait until you have entered your
beginning balances.
Set up a Backup Schedule
It is important to set up a daily or weekly routine for making backups of your
data. This can protect you from unexpected loss of information due to hardware
problems or such unexpected events as power outages, storm damages or
vandalism.
See the Getting Started Guide for more information on making backups.
2-10
Getting Started
Chapter Three — Practice System
This chapter takes you step-by-step through basic
procedures you will use when setting up your General
Ledger. It is an excellent learning tool, designed to make
setting up your system much easier.
Contents
Exercise 1: Set Up New Company ..........................................
3- 2
Set up a new company named "My Own Company"
with client code ABC. Use one of the Sample
Charts of Accounts that ship with the General
Ledger.
Exercise 2: Add A New Profit Center ........................................
3- 8
Expand the company data files to handle an
additional profit center—Lawn and Garden. The
new profit center will be used to measure the
profitability of your Lawn and Garden department
separately from the rest of the company. Also,
remove an account you do not need and add a
new account for the Lawn and Garden profit
center.
Exercise 3: Enter Beginning Balance Transactions ..................
3-14
Enter beginning balances for some of the Balance
Sheet accounts and post the transactions.
Exercise 4: Print Management Reports ....................................
3-19
Print several financial statements to verify that
beginning balances were entered correctly.
Before You
Begin
See your System Manager User's Guide for directions on setting up
your company and bank account information.
See Chapter Five in the Getting Started Guide for a short tutorial on
navigating Red Wing Windows Accounting without using a mouse.
Practice System
3-1
Exercise 1: Set Up A New Company
Overview
When you are ready to enter your own data in the General Ledger, you need
to set up a new company, creating empty data files for your use. This
exercise takes you through the steps necessary to set up a new company. It
also introduces the use of Cue Cards.
The Red Wing Setup Wizard is your BEST choice for setting up
a new company after going through the Practice System.
Although you will be working with the sample data in the practice
system, these same steps will be necessary when you set up your own
files.
Remember, if you are interested in using keystrokes to navigate the
Red Wing General Ledger system, see the Getting Started Guide,
Chapter Five, for more information.
Step One
1.
From the menu bar, click
on the Help menu
selection and select Cue
Cards to display the Cue
Cards table of contents.
You can also access
Cue Cards from online
help “Contents” or by
using the Cue Card
button.
3-2
Practice System
3.
Select General Ledger Cue
Cards. And then select Setup
Company Files (Using Sample
Chart of Accounts).
Step Two
1.
Following the directions on
the first Set Up Company
Files Cue Card, open Add
Company to create empty
data files.
2.
Enter ABC as the New
Company ID and My Own
Company as the New
Company Name.
Return to General
Ledger Cue Cards
Table of Contents
The Cue Card will always
stay on top of all other
Windows and will need to be
moved out of the way or
minimized to see all of the
underlying window.
Go to next step
Practice System
3-3
3.
Your screen should look like
the one shown here.
4.
Click on the Create button to
start the process. This may
take several minutes.
5.
Next, to start working in your
new company, click on the
Change Company button on
your Main Menu box and
change to company ID ABC.
Step Three
1.
Continue with the second
page of the Create Your
Company Files Cue Card.
2.
Enter name and address
information, then click on the
Options tab.
3-4
Practice System
3.
Put a check in the Interface to
General Ledger checkbox (by
clicking on it) to indicate the
option is selected.
4.
Make sure the GL Periods
Per Year is 13.
By setting the number of
periods to 13 you can use
12 periods for your normal
monthly entries and use
period 13 for any end-ofyear adjustments.
5.
Close the Company
Information window.
You can usually choose
from several options to
close a window and save
the information:
• Click on the Close button,
when available (or type
Alt C).
• Click on the Close
Window icon on the
toolbar.
• Press the F7 function key.
Practice System
3-5
Step Four
1.
Continue with the third page
of the Set Up Company Files
Cue Card (Period Ending
Dates).
2.
Enter 01/01 as the Begin
Date for Period 1 and press
Enter.
3.
The General Ledger
automatically fills in an End
Date of 01/31.
4.
Click on the Estimate
Periods button.
The remaining dates are
automatically filled in for
you.
5.
3-6
Click on the Close Window
icon (or press F7) to save the
period ending dates and close
the window.
Practice System
Step Five
1.
Continue with the fourth
page of the Set Up Company
Files Cue Card (Select
Sample Chart of Accounts)
Note that you will now be
“working” in the General
Ledger.
2.
Select the Miscellaneous
Retail chart of accounts.
You can click on the down
arrow or press Alt to show
the list of Business Types.
È
3.
Click on OK to copy the
chart of accounts.
4.
Close the cue card and
continue to Exercise 2, “Add
a New Profit Center.”
Review
In Exercise 1, you did the following:
9
.
9
9
9
Opened Cue Cards and used them as a step-by-step guide to setting up
company files.
Created empty data files for a new company called My Own Company.
Determined that the company will have 13 periods (12 monthly periods
and a 13th adjustment period) and set up the period ending dates.
Copied one of the sample charts of accounts supplied with the General
Ledger to My Own Company.
Practice System
3-7
Exercise 2: Add A New Profit Center
Overview
The Chart of Accounts selected in Exercise 1, Step 5, has a single profit
center. In this exercise, add a second profit center, so you can track the Lawn
and Garden department separately within the ABC Company.
Step One
From the Main Menu, select
General Ledger. Next, select Setup
and Maintenance and double-click
on Account Segments/Profit
Centers.
Or, you can highlight each
menu selection and press
Enter.
If you are not already in
company ABC (My Own
Company), click on the
Change Company button
and select ABC.
Step Two
1.
Click on the Profit Center
button (labeled 2 PROF).
2.
Click on the Add New button
on the toolbar.
Or, you can press Ctrl A
to add a new record.
3-8
Practice System
3.
Type 01 in the Segment ID
column. This will be the ID
for the Lawn and Garden
department.
4.
Type Lawn and Garden in
the Description column.
5.
Click on the Close Window
icon (or press F7) to return to
the Main Menu.
Step Three
Next, you need to add new
account numbers for the profit
center that was just added to the
system.
From the Main Menu, select
General Ledger. Next, select
Setup and Maintenance and
double-click on Chart of
Accounts.
Practice System
3-9
1.
To add new accounts, click
on the New Acct button.
You are going to add an
Inventory account, an
Income account, and a
Cost of Goods Sold
(COGS) account for the
new profit center
(01=Lawn and Garden).
2.
Select 1160 from the Main
Account list of valid
accounts.
To display a selection list,
such as the valid accounts
list, click on the combo box
(underlined down arrow) or
press Alt .
È
You can use your arrow keys
to highlight an account (or
other listed item) and select
it or, as in this case where
you know what you are
looking for, start typing the
account (or code, ID, etc.).
The system will jump to the
matching number (code, ID,
etc.)
.
3-10
Practice System
3.
Enter 01 as the Profit Center
(or select it from the list).
4.
Select 1160-00 as the account
to Copy From. This
automatically fills in the
remaining fields, including
Account Type, and Clear To
account (when needed).
5.
Enter a description of
Inventory-Lawn & Garden.
6.
The Account Type entry
reflects the type of account
you are adding. Account
types are used to determine
where to include the account
on the Financial Statements
and the type of balance (debit
or credit) it has.
7.
The Clear To account is used
only for Income and Expense
accounts. It is used to specify the
account used at end-of-year
when summarizing Income and
Expense to Retained Earnings.
8.
Click on the Save button to
record this new account
number (1160-01).
9.
Repeat steps 2 through 8 for
the following accounts:
2999-01
3010-01
5010-01
Ret. Earn - Lawn & Garden
Sales - Lawn & Garden
COGS - Lawn & Garden
Type=440
Type=500
Type=600
Clear To=blank
Clear To=2999-01
Clear To=2999-01
10. When you are finished, leave
the Chart of Accounts screen
open and continue to Step Four.
Practice System
3-11
Step Four
1.
The ABC Company (My
Own Company) does not
need all of the accounts on
the sample Chart of
Accounts. Therefore, you
need to remove several
accounts.
2.
Click on the Edit Acct button
(if available). If it is not
available (is light grey), then
you are already in edit mode.
Instead of clicking on a
button, you can type Alt +
the underlined letter. For
example, to select Edit Acct,
you can type Alt D.
3.
Select account 1110-00
(Employee Advances) and
click on the Delete Acct
button to remove the account.
4.
Also select and remove:
1320-00
1330-00
5.
Vehicles
Accumulated Depr.-Vehicles
When you are finished, close
the window (click the Close
Window button or press F7.)
3-12
Practice System
Review
In Exercise 2, you did the following:
9
.
9
9
9
Made sure you were still working in the Practice System company (My
Own Company).
Added a new profit center (Lawn and Garden).
Added new accounts for the Lawn and Garden profit center.
Deleted several accounts you do not need.
Practice System
3-13
Exercise 3: Enter Beginning Balance
Transactions
Overview
Beginning balances are best entered as a batch of transactions through the
normal transaction entry process. You will enter just a few transactions to
get a feel for the process.
Step One
1.
From the Main Menu, select
General Ledger, then
Transactions. Double-click on
Transaction Entry.
Remember, if you are not
already in company ABC
(My Own Company), click
on the Change Company
button and select ABC.
Step Two
1.
Enter the transactions listed to
the right. Press Tab (or Enter)
to move from field to field.
The Period default is based
on the date that you enter.
For example, a date of
01/01/00 is in period 1
(based on period ending
dates set up in System
Manager), while a date of
03/15/00 is in period 3.
3-14
Practice System
Reference
BegBal
Date
Default
Period Description
Default Beginning
Balances
Account
1020-00
Debit
1,500.00
1160-00
1160-01
1220-00
1230-00
2010-00
2420-00
2999-00
1,650.00
8,500.00
110,000.00
Credit
53,000.00
5,500.00
40,000.00
23,150.00
2.
A new line is automatically
added after each transaction.
Defaults from the previous
line are displayed. Because
you are entering the same
reference, date, period and
description for each
transaction, this works
extremely well for entering
beginning balances.
For even faster entry, click
on the Options button and set
up Transaction Entry to skip
the fields that will remain the
same after the first line
(Description, Date and
Period).
3.
When all transactions are
entered, the Total Debits and
Total Credits should equal
$121,650.00.
4.
When the totals are correct,
click on the Write button to
save the transactions.
5.
A message tells you when they
have been successfully saved
to the Transaction Journal.
Click on OK. You are
returned to the Main Menu.
Generally you would enter beginning balances at the
beginning of the year (i.e. 01/01/99). However, for this
exercise, we are using your current system date. If you want to
change the system date, press Ctrl W from the Main Menu.
Practice System
3-15
Step Three
Next, print a Transaction Journal
to verify the transactions were
entered correctly.
1.
From the Main Menu, select
General Ledger, then
Transaction Reports/Post.
Double-click on Transaction
Journal.
2.
Select GL Periods 1 to 13 and
restrict to today’s date for the
Trans. Dates (i.e. 04/26/99 to
04/26/99.
3.
Print the report and verify that
you entered the transactions
correctly.
4.
If the transactions are not
correct, use Edit Transactions
on the Transactions Menu to
correct any mistakes.
3-16
Practice System
Step Four
Once the transactions are correct,
you need to post the beginning
balance transactions.
1.
From the Main Menu, select
General Ledger, then
Transaction Reports/Post.
Double-click on Post
Transactions.
2.
Select the Beginning Balance
batch of transactions.
(Current Year and Period).
To select a batch of
transactions, click anywhere
on the line to highlight that
batch and click on the Select
button. An X appears in the
Post column.
3.
Click on the Post button to
post the transactions and
update the balances.
Practice System
3-17
4.
A Post Status
window shows
the status of the
posting process.
When it is
complete, a
Posting Log is
printed.
5.
Click on Close to
close the Post
Status screen and
return to the Main
Menu.
Review
In Exercise 3, you did the following:
9
.
3-18
9
9
9
Entered eight beginning balance transactions and saved them to the
Transaction Journal using the Write button.
Printed a Transaction Journal to verify that your entries were correct.
Edited transactions, if necessary.
Posted the beginning balance transactions.
Practice System
Exercise 4: Print Management Reports
Overview
This final exercise has you print Financial Statements to verify that the
beginning balances were entered properly.
Step One
1.
From the Main Menu, select
General Ledger, then
Management Reports.
Double-click on Trial
Balance.
2.
Set the Period to 1.
3.
Click on the Print Actual
Amounts selection button.
4.
Print the report.
5.
Check the Trial Balance to
make sure total debits equal
total credits.
6.
When the report has been
printed, click on the Close
button to return to the Main
Menu.
Practice System
3-19
Step Two
1.
From the Main Menu, select
General Ledger, then
Management Reports.
Double-click on Financial
Statements.
2.
Make the following selections
to print a Current Year-to-Date
Income Statement:
Statement or Queue: Statement
Statement ID: RW01_IncSt
GL Period: Current Period
(generally, the default)
3.
Print the Income Statement. All
amounts should be zero, since
no transactions have been
entered yet for Income or
Expense accounts.
3-20
Practice System
Step Three
1.
Make the following selections
to print a Current Year-to-Date
Balance Sheet:
Statement or Queue: Statement
Statement ID: RW04_BalSt
GL Period: Current Period
2.
Print the Balance Sheet. All
amounts should agree with
the Trial Balance.
.
Practice System
3-21
Step Four
1.
Make the following selections
to print a Summary Ratios
Report:
Statement or Queue: Statement
Statement ID: RW07_Ratio
GL Period: Current Period
(generally, the default)
2.
Print the Ratios Report.
Review
In Exercise 4, you did the following:
9
9
3-22
Printed a Trial Balance showing Actual Amounts.
Printed three Financial Statements: Current Year-to-Date Income
Statement, Current Year-to-Date Balance Sheet, and Summary Ratios
Report.
Practice System
Chapter Four — Helpful Procedures
This chapter gives you step by step procedures to use in
your day-to-day, month-to-month, and year-end operations.
Contents
How to Set Up Autosplit Accounts ................................................
How to Enter Beginning Balances .................................................
How to Process Transactions .......................................................
How to Set Up Financial Statements .............................................
How to Change the Fiscal Year .....................................................
Year-End Processing ....................................................................
444444-
2
2
4
5
6
6
For many more step-by-step procedures see online Cue Cards.
Helpful Procedures
4-1
How to Set Up Autosplit Accounts
On the Account Autosplits screen (page 12-16), select the account that you
want autosplit. Next, select an account that you want to split to and enter
the percentage of the transaction amount you want allocated to that
account. Select additional accounts. The total percentage must equal
100%. You must enter valid account numbers.
To edit previous entries, click on the entry you want to change (or use the
up and down arrow keys to select the entry) and press Enter. Press Enter
to move to the next cell on the entry table. To add autosplit accounts, press
the down arrow key ( ) until the end of the list is reached. Press it one
more time to start the entry process.
Once autosplits are entered, they are sorted by account number. Therefore,
if you enter accounts 5110-07, 5110-06, and 5110-01; they are listed as
5110-01, 5110-06, and 5110-07.
How to Enter Beginning Balances
Overview
This procedure is normally used to enter the actual beginning balances for each
past period in the current fiscal year. You have several options, as follows:
1.
You can produce a less detailed audit trail by entering one transaction,
representing the total period activity, for each account that has
activity. Then post the entries to the appropriate periods. For the
current period, enter and post individual transactions.
2.
To produce an audit trail of all the entries in the current fiscal year,
enter the individual transactions in the Transaction Journal and post
them to the appropriate periods.
3. If you do not need an audit trail (NOT RECOMMENDED), enter the
beginning balances and the net change in each period for each account
when setting up a company's chart of accounts.
4-2
Helpful Procedures
IMPORTANT! Be very careful if you use option 3. If you ever need to
use Recalculate Account Balances, it will wipe out anything entered
directly into Account Balances (on the Setup Menu). Also, when
beginning balances are entered in Account Balances, transaction
lists are incorrect. They do NOT include any entries made in
Account Balances.
Procedure
Use this procedure to follow the RECOMMENDED method of entering
beginning balances.
1.
Enter all the transactions (or the total period activity) for each account
for period 1. See Transaction Entry (page 5-5).
2.
Print the Transaction Journal for period 1 and check it for errors.
3.
Use Edit Transactions to correct any errors and reprint the Transaction
Journal.
4.
Post the period 1 transactions.
5.
Print a Trial Balance (page 8-7) for period 1 to check for errors.
6.
If there are any errors in the Trial Balance, use Transaction Entry to
make correcting entries. Then post the entries and reprint the Trial
Balance.
7.
Print Financial Statements (page 8-9) for period 1.
8.
Repeat these steps for each past period in the current fiscal year.
When you finish entering the activity for the past periods, you can begin entering
the transactions for the current period.
Helpful Procedures
4-3
Process Transactions
Overview
To record and report the financial activity (transactions) for a company, follow
this procedure:
1.
Enter transactions on the Transaction Entry screen (page 5-5) and
copy the applicable recurring transactions (using Copy Recurring
Transactions, page 5-12) to the Transactions work file. Use the Write
option to move the transactions to the Transaction Journal file.
If you set "Copy Recurring Transactions Directly to the Transaction
Journal" in Customization (page 12-2) to yes, you do not have to
write the recurring transactions to the Journal file.
2.
Print the Transaction Journal (page 7-2) and, optionally, the Account
Activity Report (page 7-5) to make sure the entries are correct. Use
Edit Transactions (page 5-18) to correct any transactions that were
entered incorrectly. Print the adjusted Transaction Journal and
Account Activity Report as part of your audit trail.
3.
When you are sure your entries are correct, go to Post Transactions
(page 7-8).
4.
Print a Trial Balance to make sure everything was posted correctly and
that the debits and credits balance.
5.
When you are sure everything is correct, print your financial
statements.
To look at general ledger accounts and their history of posted and unposted
transactions, use the Account Activity selection from the Transaction
Reports/Post menu. If you need to make minor changes to transactions, such as
changing the project code or reference number, you can use the Review
Transactions menu selection.
4-4
Helpful Procedures
Set Up Financial Statements
Plan Financial
Statements
Before setting up a financial statement, decide what to include—the kind of
balance information, calculations, and so on.
Define Statement A variety of statement columns are predefined for you and saved as layout ID’s.
These layout ID’s define the number of columns and type of information that
Columns
appears in each column. An extra cost Special Option, Report Designer is
available if you need to define additional layout ID’s.
Define
Statement
Rows
Use Define Statement Contents (page 13-2) to specify the financial statement
rows and the accounts to include in these rows. Set up the following
information
•
rows of the financial statement
•
accounts to include
•
an account structure for each statement content—only companies with a
matching account structure can use this definition
When you are finished, print a Statement Contents List (page 14-15) to review
the report contents.
Define
Statements
Use Build Statements (page 13-12) to build several types of financial statements
by pairing different layout IDs with content IDs. Set up the following
information:
•
select a statement layout ID which defines the financial statement
columns.
•
select a statement content ID which defines the financial statement rows
•
enter a header and footer for the financial statement
•
select the paper size and orientation
•
identify the financial statement by giving it a unique statement ID
Helpful Procedures
4-5
Print Financial
Statements
Use Financial Statements (page 8-9) to print the type of report. Specify the
following information:
•
•
•
•
•
statement ID to print
period
range of dates and accounts
segment sort order
if zero balance accounts should be printed.
If some financial statements are routinely produced for the same companies, you
can group them in a queue. Then, instead of entering printing parameters for
each individual financial statement, enter the queue ID for the group of
statements and print the group of statements in a batch. Use Report Queues (page
13-21) from the Management Reports Setup Menu.
How to Change the Fiscal Year
Overview
If you need to enter transactions in the next fiscal year or if you need to work in
a previous year, you need to change to that year.
1.
Select Change Current Fiscal Year (page 9-3) from the End-of-Year Menu
and enter the desired year or click on the combo box and select the year.
2.
Click on OK to change the year or Cancel to exit the screen without
changing the year.
Year-End Processing
Use this procedure to close the year and start a new one.
1.
Back up all data files. See your Getting Started Guide for help in
backing up data files.
2. Select End-of-Year from the End-of-Year Menu.
4-6
Helpful Procedures
Chapter Five — Transactions
This chapter explains the procedures used to enter and edit
transactions and to copy recurring transactions.
Contents
Topics
Covered
Transaction Entry — Overview .................................................
Transaction Entry.....................................................................
Transaction Options............................................................
Out of Balance ....................................................................
Copy Recurring Transactions ...................................................
Copy Recurring Transactions Report ..................................
Copy Recurring Transactions Error Listing ..........................
Copy Recurring Transactions Copy Listing n .......................
Edit Transactions .....................................................................
Edit Transactions Options ...................................................
Edit Transactions Out of Balance ........................................
5- 2
5- 5
5- 8
5-10
5-12
5-14
5-16
5-17
5-18
5-21
5-22
Before you begin (page 5-2)
Using source codes (page 5-3)
Reversing accrual entries automatically (page 5-4)
Setting up autosplits (page 5-4)
Double-entry bookkeeping (page 5-4)
Reversing incorrect entries (page 5-4)
How to edit vs. reverse transactions (page 5-18)
Transactions
5-1
Transaction Entry — Overview
This overview gives an introduction to Transaction Entry, as
well as listing important "How to" information.
For a brief overview on processing transactions, see “How to
Process Transactions,” page 4-4.
To speed up transaction entry, select the Options button on the
Transaction Entry screen and select only those entries you
need.
Overview
'
'
'
Use Transaction Entry to enter transactions such as income, expense, and
asset acquisitions. You can enter transactions to any period in the fiscal
year.
You do not need to use Transaction Entry to enter all transactions. Other
Red Wing applications such as Accounts Payable and Accounts Receivable
update the Transaction Journal with the proper entries if they are
interfaced with the General Ledger. You can also use Copy Recurring
Transactions (page 5-12) to copy entries made on a regular schedule to the
transaction records.
If you use other applications or selections to update the Transaction
Journal, you must still use Transaction Entry for miscellaneous entries and
adjustments.
As an important part of your audit trail, print the Transaction
Journal (page 7-2) to list transactions for specific periods and
source codes.
Before you
begin
'
'
5-2
Before entering transactions, print a copy of the chart of accounts for each
company and have ready all the entries you need for each company. You can
use original documents (check register, invoices, books of original entry),
but make sure you have all of them; each company's entries must balance.
You can enter transactions for only one company at a time. Before you select
Transaction Entry, make sure the Main Menu screen displays the correct
company and date.
Transactions
Using source
codes
'
'
'
'
Each transaction is assigned a two-character source code indicating the
origin of the transaction. You can use the source code to select the types of
entries to include in the Transaction Journal and the Account Activity
Report.
The default source code in Transaction Entry is M1. You can change the
second character to any other character to distinguish the entry, but keep M
(miscellaneous entry) as the first character.
You can enter an accrual transaction with source code R1 if you want the
system to reverse the transaction automatically. (The system assigns source
code R2 to transactions that automatically reverse R1 transactions.)
Listed below are suggestions for assigning source codes:
•
Assign special source codes for special entries; for example, use
MY for year-end audit adjustments.
•
Assign a character to each week in the period. When you print a
Transaction Journal with transactions having the same source code,
you can see the entries for a specific week.
•
Assign a different character to each person who makes entries, so
you know who entered each transaction.
Source codes include:
PC
Project Cost
(includes all transactions imported from any non-Red
Wing software application)
PR
Payroll
AP
Accounts Payable
AR
Accounts Receivable
IN
Inventory
Transactions
5-3
Reversing
accrual entries
automatically
If you want the General Ledger to reverse accrual entries automatically, enter the
accrual transaction with source code R1. When the transactions are saved using
the “Write” button, the system automatically generates reversing entries for the
following period. R2 is used as the source code for the reversing entries.
Example — Your company usually has accrued wages at the end of the month.
Enter R1 transactions to account for the accrued wages expense. The system
automatically generates R2 transactions for the following period that reverse the
accrual entries. When the wages are paid, enter transactions for the full amount.
Reversing entries, when used with a 13 period year, are affected
by the "Use Last Period for Normal Processing" option in
Customization. If you are using normal monthly processing and
use the 13th period for adjustments only, answer No to "Use Last
Period for Normal Processing." Reversing accrual entries posted
to period 12 will be reversed in period 1 of the following year. If
you answer Yes, the entries are reversed in period 13.
Setting up
autosplits
To automatically split transaction amounts, enter the account number (set up in
Account Autosplits, page 12-16) and click on the Autosplit field. When you post
transactions to account numbers that have checked autosplit boxes, they are
distributed to the accounts specified in the autosplit record.
Double entry
bookkeeping
Double entry bookkeeping requires an offsetting credit for each debit and vice
versa. You must continue entering transactions until the balance of the entries is
zero.
If you need to leave the screen out-of-balance, you can enter the forcedbalance password (set up in Customization, page 12-2) in the Out of Balance
dialog box, page 5-10.
Reversing
incorrect
entries
If you save an incorrect transaction, use Edit Transactions (page 5-18) to correct
the problem or enter a reversing transaction and then re-enter the transaction
correctly.
Each time you enter journal transactions for a company, print the Transaction
Journal (page 7-2) for that period so that you have an audit trail of the
transactions.
Continue to the Transaction Entry screen, page 5-5.
5-4
Transactions
Transaction Entry
¼ Transactions ¼ Transaction Entry
Transaction Entry Dialogs
Transactions Options (page 5-8)
Out of Balance (page 5-10)
Overview
Use this screen to enter transactions. If you are entering any detail information,
you must use Detail button to display the Detail Entry Screen.
Summary view
Screen options
1. Reference — Identify the type of transaction. For example, you might use
the invoice number from the document to identify an expense entry.
2. Date — Enter the transaction date.
3.
Period — The fiscal period that corresponds to the transaction date is
displayed. Use the displayed period, or enter a different period.
4. Year — The current fiscal year is displayed.
Transactions
5-5
5. Description — Enter a description of the transaction; for example, gas and
oil expense.
6. Account — Select the account for the transaction. If the account does not
exist, press the F6 key to add it or select another account.
Remember, you can either click on the combo box to display your
accounts or press Alt plus the down arrow.
7. Debit — For a debit transaction, enter the dollar amount. For a credit
transaction, skip this field.
Credit — For a credit transaction, enter the dollar amount. For a debit
transaction, skip this field.
The remaining entries are only available on the Detail Entry screen. (Click on
the Detail button.)
Detail Entry Screen
If you have questions about whether a transaction is a debit or credit
entry, see “Debit or Credit?” a handy chart that shows when to debit and
when to credit a transaction on page 15-16.
8.
5-6
Primary Qty / Alternate Qty — Enter the primary (and/or alternate)
quantity. The unit of measure (if any) is displayed.
Transactions
9. Source — Accept the M1 default or enter a different source code.
The first character should be M, except for automatically reversing accrual
entries, which must have source code R1. For more information, see Using
Source Codes in Transaction Entry (page 5-3).
10. Project — If desired, enter a project code (up to 10 characters). If you have
the Project Cost application, you can select a project or press F6 to add a new
one.
11. Autosplit — If you want the transaction autosplit when it is posted, select
the check box. You can only split transactions for accounts that have had
autosplit percentages entered in Account Autosplits.
12. Balance — Continue entering transactions until Total Debits equal Total
Credits. Totals are displayed at the bottom of the screen, so you can easily
see when the difference (between total debits and total credits) is zero.
13. Write — Transactions are not immediately written (moved) to the
Transaction Journal. They are held in a transaction work file associated with
the workstation where the transaction was entered. To save the transactions
to the Transaction Journal, use this command button.
14. When you are finished and have successfully written transactions to the
Transaction Journal (using the Write command button), close the screen to
save your changes and return to the Main Menu. Transactions that have not
yet been written to the Transaction Journal are saved on the Transaction
Entry screen and can be added to or changed anytime.
Command
buttons
Detail / Summary Press Detail to enter one transaction per screen. (You must
use detail entry if you wish to project quantities or project
information.) Press Summary to return to normal entry
(enter multiple transactions per screen).
Options
Customize transaction entry to match your needs.
Add New
Add a new transaction.
A new transaction line is automatically started if you select the Apply
New Entry Defaults option on the Options screen.
Write
Move (save) the transactions to the Transaction Journal. If
the transactions do not balance, the Out of Balance Dialog
Box (page 5-10) is displayed.
Transactions
5-7
Transaction Options
¼ Transactions ¼ Transaction Entry ¼ Options button
Overview
This screen appears when you select Options on the Transaction Entry screen.
Use it to customize (and speed up) your transaction entry process to fit your
needs.
Screen options
1.
Tab Stops — Select the fields you want the cursor to stop in each time
you press Tab (or Enter) during Transaction Entry. Use this selection to
speed up data entry.
2.
New Entry Defaults — Select one of the following options:
•
Offset Last Line: Use the offsetting debit or credit amount from
the previous transaction as a default amount in the next transaction.
•
Offset Remaining Balance: Use the running total balance as a
default amount in the next transaction.
•
Leave Blank: Do not display offset amounts.
Apply New Entry Defaults — If you want to automatically start a
new transaction entry line when you finish entering the current
transaction, check the box.
5-8
Transactions
3.
Default Account — Select a default account. If you want each new
transaction to use the same account, check the Apply Default Account
check box and enter the account in the Account field. This selection is
useful, for example, when you are entering a large batch of checks and
you offset each entry to the checking account. You can change the
default account anytime!
4.
Display Style — Select how you want information displayed on the
screen. The Transaction Entry screen and the Recurring Transactions
screen change to reflect your choice. View each option to see which is
best for you. Options are:
5.
•
Detail
•
Summary
Open Combo Box — If you want the combo boxes for Account and
Source to open when you enter their fields, check the box.
6. Increment Reference — Check this box if you want numeric reference
numbers to increment automatically. This option applies only to numeric
reference numbers.
7. Click on Close and return to the Transaction Entry screen.
Transactions
5-9
Out of Balance
¼ Transactions ¼ Transaction Entry ¼ Write button
Overview
This dialog box appears when you select Write on the Transaction Entry
screen and the transactions, periods, or years are out of balance.
Screen options
1.
Select the appropriate command button(s) to handle the out of balance
entries (see Command buttons on the next page).
2.
When you are finished, close the screen to save your changes and return
to the Transaction Entry screen (page 5-5).
5-10
Transactions
Command
buttons
Cancel
Cancels the write process and returns to the Transaction Entry
screen where you can edit transactions.
Auto Enter
Create an adjusting entry to force the batch into balance and
then return to the Transaction Entry screen to edit it. Adjusting
entries appear with a description of AutoAdjustment.
Override
Ignore the fact that the batch is unbalanced and write the
transactions before returning to the Transaction Entry screen.
You must enter the "out of balance" password to write
unbalanced entries. Use Customization (page 12-2) to set up or
change the out of balance password.
This is not a “normal” situation and is included for those rare cases when
the database has been damaged, causing an out-of-balance situation that
must be corrected.
Transactions
5-11
Copy Recurring Transactions
¼ Transactions ¼ Copy Recurring Transactions
Additional Dialogs
Copy Recurring Transactions Report (page 5-14)
Copy Recurring Transactions Error Listing (page 5-16)
Copy Recurring Transactions Copy Listing (page 5-17)
Overview
Journal entries made regularly (weekly, monthly, etc.) are called recurring
transactions. Use Recurring Transactions (page 12-18) in Setup and
Maintenance to set up groups of recurring entries. Next, use this selection to
copy the recurring entries either to the transactions work file or directly to the
Transaction Journal.
Before you begin, make sure you have set up all the recurring transactions, and
that you have not already copied the current set of recurring transactions. This
avoids ending up with a double set of entries.
5-12
Transactions
Screen options
1.
Recur ID From / To — Select the range of recurring transactions to
copy.
2.
GL Period — Enter the period to which you want to copy the recurring
transactions.
3.
Copy Date — Enter the date to use for the recurring transactions.
4.
OK / Reset / Close — Select OK to copy the recurring transactions,
Reset to return all fields to their default, or Close to return to the Main
Menu.
5.
Command
buttons
•
If you select OK and the recurring transactions are copied
successfully, the Copy Recurring Transactions Report screen
appears (page 5-14).
•
If transactions are not copied successfully, the Copy Recurring
Transactions Error Listing screen appears (page 5-16).
When you are finished, select Close to return to the Main Menu.
OK
Copy the recurring transactions to the Transaction Journal.
Reset
Set all fields to their default values.
Copy Entries
Copy the recurring transactions to the transaction work file.
(You can then edit the transactions before writing them to the
Transaction Journal.)
Show Entries
Show the recurring transactions. If there are any errors, the
Copy Recurring Transactions Copy Listing screen (page 5-17)
is displayed.
Show Errors
Show any errors.
Close
Return to the Main Menu.
Transactions
5-13
Copy Recurring Transactions Report
¼ Transactions ¼ Copy Recurring Transactions ¼ Copy Trans. button
Overview
The Copy Recurring Transactions Report dialog box appears when recurring
transactions are copied successfully. Print this report as part of your complete
audit trail.
Screen options
1.
5-14
Select one of the report command buttons or selections from the toolbar,
explained on page 8-2.
Transactions
Copy Recurring Transactions Report
Transactions
5-15
Copy Recurring Transactions Error Listing
¼ Transactions ¼ Copy Recurring Transactions ¼ Copy Entries button
Overview
This screen appears if errors occur before recurring transactions are copied. All
transactions with errors are shown.
Screen options
1.
To ignore errors and resume processing, select Close to return
to the Copy Recurring Transactions screen, and then select Copy
Transactions. The entries in the error listing are not copied.
To fix the entries in the error listing, select Edit. The Recurring
Transactions screen appears. Edit the recurring transactions, return to
the Error Listing screen, select Close to return to the Copy Recurring
Transactions screen, and select Copy Entries.
2.
Command
buttons
5-16
When you are finished, select Close to save your changes and return to
the Copy Recurring Transactions screen.
Edit
Edit the errors in the recurring transactions.
Skip
Skip the errors in the recurring transactions.
Close
Return to the Copy Recurring Transactions (page 5-12) screen.
Transactions
Copy Recurring Transactions Copy Listing
¼ Transactions ¼ Copy Recurring Transactions ¼ Show Entries button
Overview
This screen appears when you select Show Entries. on the Copy Recurring
Transactions screen. It displays the recurring transactions to be copied. This
screen is available only when there are errors in the recurring
transactions.
Command
buttons
Edit
Edit the errors in the recurring transactions.
Skip
Skip the errors in the recurring transactions.
Close
Return to the Copy Recurring Transactions screen (page 5-12).
Transactions
5-17
Edit Transactions
¼ Transactions ¼ Edit Transactions
Additional Dialogs
Edit Transaction Options (page 5-21)
Out of Balance (page 5-22)
Overview
Use Edit Transactions to change unposted transactions. You can change any
field except source code (SC), year, and entry number. Because you cannot edit
entries that have been posted, only unposted entries are displayed.
To view all posted transactions, select Review Transactions.
If you need to find specific transactions, click on Edit on the menu bar
and click on Find. You can enter your search criteria on the pop-up
window that is displayed. It will work in every field except the Account
field. There is also an advanced sort; select Records, Filter on the menu
bar.
Edit vs. reverse
transactions
To fix an incorrect transaction that has not yet been posted, use Edit
Transactions.
To fix a transaction that has been posted, use Transaction Entry (page 5-5) to
make an adjusting entry that reverses the transaction and then reenter it correctly.
When you edit transactions, the Transaction Journal is the only audit trail
showing the changes. You may prefer to enter reversing transactions, giving you
a permanent record, rather than to edit transactions.
Print the Transaction Journal (page 7-2) before and after you edit transactions to
give you an audit trail of the changed transactions. The Transaction Journal also
lists the entry numbers of the transactions you want to edit. You cannot change
transactions once they are posted.
5-18
Transactions
Detail Entry
Screen options
1. Reference — The reference identifies the origin of the transaction.
•
If it originated in the General Ledger, the reference entered through
Transaction Entry is displayed, such as the check number or invoice
number.
•
If it originated in another application, the reference depends on options
set in that application. For example, if Accounts Payable (AP) is not
using Post Detail to General Ledger, AP is displayed. If it is using Post
Detail to General Ledger, a more detailed entry is displayed.
2. Date — The transaction date is displayed.
3. Period — The period that will be affected by this transaction is displayed.
4. Year — The transaction year is displayed. You cannot change the year.
5. Description — The transaction description is displayed.
6. Account — The account number the transaction will be posted to is shown.
7. Debit / Credit — The debit (or credit) amount is displayed.
8.
Primary Qty / Alternate Qty — The primary and/or alternate quantities
are shown.
Transactions
5-19
9. Source — If the transaction originated in the General Ledger , the
source code entered in Transaction Entry is displayed. (M1 is the default
source code for General Ledger transactions).
If the transaction originated in another application, the application
initials are displayed. For example, if the transaction was posted from
Accounts Payable, the source is AP.
For more information, see Using Source Codes (page 5-3).
10. Project — If desired, enter a project code. If you have the Project Cost
application, you can select a project.
11. Autosplit — If the transaction will be autosplit when it is posted, check this
box. If you select the check box and there is no autosplit set up for the
account, a warning message is displayed.
12. Total Debits — The total debit amount of the transactions is displayed.
13. Total Credits — The total credit amount of the transactions is displayed.
14. Balance Debits — The total debit balance of the transactions is displayed.
15. Balance Credits — The total credit balance of the transactions is
displayed.
16. Continue editing transactions until the balance (Balance Debits and Balance
Credits) at the bottom of the screen is zero. If the offsetting amount is split
between two or more accounts, edit the necessary additional transactions to
bring the balance to zero.
17. When you are finished, click on Close to save your changes and return to the
Main Menu.
Command
buttons
5-20
Options
Set transaction editing options. The Edit Transaction Options
Dialog Box (page 5-21) appears.
Close
Save your changes and return to the Main Menu. If you try to
close the window while transactions are not balanced, the Out
of Balance Dialog Box (page 5-22) appears.
Transactions
Edit Transaction Options
¼ Transactions ¼ Edit Transactions ¼ Options button
Overview
The Edit Transaction Options dialog box appears when you select Options on
the Edit Transactions screen.
Screen options
1.
Tab Stops — Select the fields you want the cursor to stop in each time
you press the Tab (or Enter) key. If you want the field to be a Tab stop,
select the check box.
2.
Display style — Select the way you want information displayed on the
screen; the Edit Transactions screen changes to reflect your choice.
View each option to see which is best for you. Options are:
• Detail
• Summary
3.
Open Combo Box — If you want the Account and Source combo
boxes to automatically drop open when you enter their fields, select the
check box.
4. Select Close to save your changes and return to the Edit Transactions
screen (page 5-18).
Transactions
5-21
Edit Transactions — Out of Balance
¼ Transactions ¼ Edit Transactions
¼ Close button and transactions are out of balance
Overview
The Out of Balance dialog box appears when you select Close on the Edit
Transactions screen and the transactions, periods, or years are out of balance.
Command
buttons
Cancel
Return to the Edit Transactions screen and make necessary
changes to bring the batch of transactions into balance.
Override
Override the unbalanced entry and return to the Edit Transactions
screen. You must enter the password set up in Customization
(page 12-2) to exit.
Close the screen to save your changes and return to the Edit
Transactions screen (page 5-18).
5-22
Transactions
Chapter Six — Red Wing DOS Interface
This chapter explains how to bring and edit transactions
from the Red Wing DOS versions of Accounts Payable,
Accounts Receivable, Payroll, Inventory and Asset
Depreciation or other outside software into the General
Ledger for posting. It also explains how to create a DOS
Chart of Accounts used to validate account numbers.
Contents
Retrieve Transactions...............................................................
Edit Transactions (Accounts)....................................................
Edit Transactions (Periods) ......................................................
Create Chart of Accounts .........................................................
Red Wing DOS Interface
6-2
6-5
6-6
6-8
6-1
Retrieve Transactions
¼ Red Wing DOS Interface ¼ Retrieve Transactions
Overview
Use this selection to bring transactions from the Red Wing DOS versions of
Accounts Payable, Accounts Receivable, Payroll, Inventory and/or Asset
Depreciation or other outside software into the General Ledger.
Rules
1.
You may only post to the current fiscal year (period 1 through the number
of periods available in the year). If you want to post to previous (or the next)
fiscal years, change the current fiscal year using the Change Current Fiscal
Year selection (page 9-3) on the End-of-Year Menu.
Use the Edit Transactions (Periods) selection (page 5-18) to correct a
batch that has an invalid period.
2.
The account must exist in the Red Wing Windows Chart of Accounts
and it must be a posting (non-memo) account.
Use the Edit Transactions (Accounts) selection (page 5-18) to correct invalid
accounts. You can use the F6-Maint key to add/update existing accounts.
The entire batch of transactions is rolled back (none are retrieved) if any
account is invalid.
Before you
begin
•
Back up the following Windows GL file —
C:\RWBS2\xxx\xxxGL2.RWD (or whatever directory it is listed in).
•
Back up the following DOS data files to protect your data in case you
have a data error during the Retrieve process.
GLUNPxxx.asc
GLHDRxxx.asc
The xxx is the company code. For example, GLUNPSAM.asc for
sample data files.
6-2
Red Wing DOS Interface
Step-by-step
1.
Select the invalid account number and the default date and period
number. This information is used as replacement information for input
records that contain invalid data.
2.
Click on the Import button.
3.
The Select the file to be imported screen (shown below) is displayed.
The system defaults to the C:\REDWING directory. If your GL files are
in another directory, change the directory. If you are importing from a
Red Wing DOS system, select the GLUNPxxx.asc file.
Each time you select Import this screen is displayed and you must select
the file and path, if different from the default.
Red Wing DOS Interface
6-3
4.
You can Preview the records, add/edit Accounts or add/edit Periods
while held in the intermediate import file (before transferring to GL).
Or, if you exit the window, you can use the Edit Transactions selections
on the Red Wing DOS Interface menu.
5.
Click on the Transfer button to actually move the transactions into the
General Ledger. You are warned that retrieving the transactions will
change your unposted transaction file and reminded to be sure you have
a backup before continuing.
6.
When the transactions have transferred (or failed to transfer due to
errors) a pop-up screen shows the number of batches transferred and the
number of batches that did not transfer (batches in error). Click on OK
to return to the Main Menu.
If batches did not transfer, you need to determine whether you had
incorrect accounts or periods from another year. Use the other DOS
Interface Menu selections to look at the file to see whether the accounts or
periods caused the error and make your corrections.
6-4
Red Wing DOS Interface
Edit Transactions (Accounts)
¼ Red Wing DOS Interface ¼ Edit Transactions (Accounts)
Overview
Use this selection to correct accounts in the DOS intermediate transfer file
(transferred in from DOS, but not yet posted to the General Ledger) so they
can be moved to the Windows General Ledger using Retrieve Transactions
(page 6-2).
Step-by-step
1.
The currently available intermediate file opens.
2.
The Account ID in the first column is the account number as it is in the
DOS module. The Account ID in the second column automatically
displays the same account number if it exists in the General Ledger
Chart of Accounts. If it does not, the field is left blank. You can either
select an appropriate account or press the F6 function key to add
missing accounts.
Account IDs must be a posting (non-memo) account.
3.
When you are finished, close the window and return to the DOS
Interface Menu.
Red Wing DOS Interface
6-5
Edit Transactions (Periods)
¼ Red Wing DOS Interface ¼ Edit Transactions (Periods)
Overview
Use this selection to change periods in the DOS intermediate transfer file
(transferred in from DOS, but not yet posted to the General Ledger) so they can
be moved to the Windows General Ledger using Retrieve Transactions, page 62.
Step-by-step
1.
The currently available intermediate transfer file is displayed.
2.
The Year/Period field must consist of six numbers in a YYYYPP
format. For example, transactions for 2000, period 3, would be 200003.
You can either change the period or close this screen and use the
Change Current Fiscal Year selection (page 9-3) on the End-of-Year
Menu to switch to the fiscal year that matches the unposted batches.
The Red Wing DOS systems allow for postings to the first three
periods of the next fiscal year. The windows General Ledger does not.
For example, your DOS transaction periods could be as follows:
200012
Dec. 2000
200013
Dec. 2000 (Adjusting Period)
200014
Jan. 2001
200015
Feb. 2001
200016
Mar. 2001
6-6
Red Wing DOS Interface
You can either change the last three periods to:
200101
200102
200103
Or, you can change the fiscal year to 2001 and then run the Retrieve
Transaction selection. The system will automatically post the January
through March periods to:
200101
200102
200103
3. When you are finished, close the window and return to the DOS
Interface Menu.
Red Wing DOS Interface
6-7
Create Chart of Accounts
¼ Red Wing DOS Interface ¼ Create Chart of Accounts
Overview
Use this selection to create an up-to-date DOS version of your General Ledger
Chart of Accounts. Use it every time you add or change account IDs. The DOS
file is used by the DOS modules (Payroll, Asset Depreciation, Accounts
Payable, Accounts Receivable) when validating account numbers during the
transaction entry process.
Step-by-step
1.
A warning/explanation screen is displayed reminding you how the
system creates the DOS file used to create the chart of accounts for your
DOS software.
2. Click the Create button to create the updated General Ledger DOS
Chart of Accounts.
6-8
Red Wing DOS Interface
3.
The Select the path to the Red Wing DOS system data files screen is
displayed. The system defaults to the C:\Redwing path. If your GL files
are in another directory, change the directory.
This dialog is used primarily to locate the DOS system files, specifically
Rwmstdat.dat. When this file is displayed in the dialog box the search
has been successful. Click on the Open button to create the
Glactxxx.asc file which is used by the DOS Accounts Payable, Accounts
Receivable, Inventory, Asset Depreciation and Payroll systems when
validating the account number entries.
Each time you select Create Chart of Accounts this screen is displayed
and you must select the path, if different from the default.
4.
The final step is completed from within the DOS Software Selection
System when you select Utilities, Create DOS Chart of Accounts.
Red Wing DOS Interface
6-9
NOTES:
6-10
Red Wing DOS Interface
Chapter Seven — Transaction Reports/Post
Use these selections to print your Transaction Journals and
Account Activity Reports. When you are sure your entries
are correct, you can post your transactions.
Contents
Topics
Covered
Transaction Journal..................................................................
Account Activity .......................................................................
Post Transactions ....................................................................
Review Transactions ................................................................
Account Inquiry ........................................................................
Check Register.........................................................................
7- 2
7- 5
7- 8
7-12
7-14
7-16
When to print the Transaction Journal (page 7-2)
The three types of account activity reports (page 7-5)
The GL Post Log (page 7-10)
Using Review Transactions to change posted transaction information
(page 7-12)
Transaction Reports/Post
7-1
Transaction Journal
¼ Transaction Reports / Post ¼ Transaction Journal
Overview
Use this selection to list transactions for a range of periods and source codes. It
is a key part of your audit trail.
Print the Transaction Journal every time you make journal entries or copy and
write recurring transactions. The Transaction Journal gives you a written
record of that day's work. Also, print the Transaction Journal at the end of each
accounting period and store it in a safe place. If you use a printed copy for
reference, make sure you have the most recent version.
If you decide to list a range of accounts, the debit and credit balances might not
balance, because not all offsetting transactions may be listed. You must list all
accounts to verify that the transactions are in balance.
If other Red Wing applications are interfaced with the General Ledger, check
the Posting Totals Report produced by the other applications against the
Transaction Journal to make sure every debit and credit is posted.
7-2
Transaction Reports/Post
Screen options
1. GL Period From / To — Enter the range of periods for the Transaction
Journal.
2. Source Code From / To — Select the range of source codes for the
Transaction Journal.
When you do not want to limit the Transaction Journal to a specific range,
leave the From/To fields blank.
3. Project From / To — Enter the range of projects to include in the journal.
4. Transaction Date From / To — Enter the range of transaction dates to be
included in the journal.
5. Select the range of account segments you want included.
6. Print Quantities — Click on the checkbox if you want to print a two-line
report (two lines per transaction) showing primary and alternate quantities.
7. Sort By — Select the sort method for the journal from one of the following:
• Entry Order
• Account
• Source Code
8. Print — Select whether you want to include posted transactions, unposted
transactions or both posted and unposted transactions.
9. Print Date — Choose whether you want to print by the transaction date
(date entered on each transaction) or entry date (system date when the
transaction was entered).
10. Headings — Enter the title for the Transaction Journal (up to four lines of
30 characters each).
11. Account Sort — If sorting by account number, enter the number of the
account segment to sort by. For example, to sort first by segment 3, then by
segment 2, then by segment 1, enter 321.
12. Select one of the report command buttons, explained on page 8-2.
Transaction Reports/Post
7-3
Sample Transaction Journal
7-4
Transaction Reports/Post
Account Activity
¼ Transaction Reports / Post ¼ Account Activity
Overview
The Account Activity Report lists the transactions under the accounts they
belong to, as well as the ending period balances for each account. If you print
the report at the end of each period or for a range of periods, you can see how
much activity an account has had during that time (how much the balance has
changed and which transactions have affected it). Use this report to verify your
work.
You can produce three types of Account Activity Reports:
•
Show only accounts with activity for one period or for a range of
periods.
•
Show all accounts for one period or a range of periods, regardless
of whether or not they have activity.
•
Show all periods, all source codes, and all accounts. This report is
generally printed only at the end of the year.
Transaction Reports/Post
7-5
Screen options
1.
GL Period From / To — Enter the range of periods for the Account
Activity Report.
When you do not want to limit your report to a specific range, leave
the From/To fields blank.
7-6
2.
Source Code From / To — Select the range of source codes for the
Account Activity Report.
3.
Select the range of account segments you want included.
4.
Print Inactive Accounts — Click on the check box if you want the
report to include inactive accounts for the periods you selected. Inactive
accounts are accounts that have had no transactions for the selected
range.
5.
Account Sort — Enter the number of the account segment to sort by.
For example, to sort first by segment 3, then by segment 2, then by
segment 1, enter 321.
6.
Headings — Enter the title for the report (up to four lines of 30
characters each).
7.
Select one of the report command buttons, explained on page 8-2.
Transaction Reports/Post
Sample Account Activity Report
Transaction Reports/Post
7-7
Post Transactions
¼ Transaction Reports / Post ¼ Post Transactions
Overview
Use this selection to post the transactions in the Transaction Journal to the
specified accounts for a range of periods. You must post the transactions
before you can produce financial statements or reports.
You can post as often as you like; the system never posts the same transaction
twice. Also, you are warned if the General Ledger is out of balance.
Before you post, print the Transaction Journal and the Account Activity Report
to make sure everything is correct and that the debits and credits are in
balance.
How to…
7-8
Post Transactions
1.
Make sure the displayed information is correct.
2.
Select the output criteria.
3.
Select either summary posting log or detail posting log.
4.
Select the command button corresponding to the transactions you want
to post.
5.
As the transactions are posting a "Post Status" screen is displayed.
Transaction Reports/Post
Screen options
1.
Period List — One line for each period containing unposted
transactions shows the following:
•
Post: If the period is selected to post, an X appears in this column.
•
Year: The fiscal year is shown.
•
Period: The period number is shown.
•
Entries: The number of unposted transactions is shown.
•
Total Debits: The amount of total debits for the unposted
transactions is shown.
•
Total Credits: The amount of total credits for the unposted
transactions is shown.
2.
Output GL Posting Log To — Select whether you want the report
sent to the printer, a file or both.
3.
Select which of the following you want to produce:
Summary Posting Log: The posting report shows a single line for
each batch that is posted.
Detail Posting Log: The posting report shows the detail entries
making up each batch that is posted.
Transaction Reports/Post
7-9
Command
buttons
4.
Printer Name — Select the printer.
5.
Prompt to Reprint — If you want to be asked to reprint the report if
you had printer problems, select this check box. Since you can't reprint
this report any other way, this option is RECOMMENDED.
6.
If you are sending the report to a file you are asked to enter the file
name and to select the file type.
Select
Select the transactions for a period. You can select multiple
transaction batches by highlighting a line and clicking on the
Select button.
Select All
Select all transaction batches.
Unselect All Unselect all transaction batches.
GL Post Log
Post
Post the selected transaction batches.
Cancel
Return to the Main Menu.
The GL Post Log shows the debits and credits that were posted for each period
and the entries that were autosplit.
If the total debits and credits for a period are not equal or if they do not match
the totals in the Transaction Journal, make reversing entries to correct the out of
balance situation. Save the GL Post Log for reference.
If the message Invalid GL number is printed in the log, the account for the
transaction shown has been deleted. Use Edit Transactions (page 5-18) to assign
a valid account to the journal entry. Post again to put the ledger back into
balance.
7-10
Transaction Reports/Post
Mid County Supply
GL Posting Log
3/1/99
12:31 PM
Entry
No
Pr
Date
Account
Description
Split
Src Reference
Page 1 / 1
Debit
Credit
75.00
75.00
75.00
75.00
Year 1997
Total Posted for Period 2
Total Posted This Run
*** End of Report ***
Sample GL Posting Log
Transaction Reports/Post
7-11
Review Transactions
¼ Transaction Reports / Post ¼ Review Transactions
Overview
Use this selection to change current year posted transactions for the specified
period. Most often, use it to correct dates or descriptions. You can change any
item that does not affect balances. Therefore, you cannot change account,
period, year or amounts. Also, you cannot add or remove transactions.
Screen options
1. GL Period From / To — Enter the range of periods you want to review,
and, if necessary, change transaction information.
The From / To fields default to the number of periods set up in the
General Ledger.
7-12
Transaction Reports/Post
2. Select one of the report command buttons, explained on page 8-2.
Because this process is very much like the Edit Transactions
process, see Edit Transactions (page 6-5) for detailed
instructions on screen options and command buttons.
Command
buttons
Reset
Clears the selected range of periods, allowing you to start over.
OK
Begin processing.
Close
Return to the Main Menu without reviewing transactions.
Transaction Reports/Post
7-13
Account Inquiry
¼ Transaction Reports / Post ¼ Account Inquiry
View account details for any account balance for a specific year. This inquiry
offers a “drill-down” feature for viewing detailed account information and the
transactions included in each balance. The balances and transaction detail
windows show posted transactions only.
Overview
If you entered beginning balances through Setup & Maintenance - Account
Balances, the dollar amounts will appear on the first window (balances), but
there will be no corresponding transactions on the transaction detail window.
Important! If transactions on the detail window do NOT add up to
the total on the balances window, you must go through the Utilities - Recalculate Account Balances process . Make a backup first!
First Account Inquiry window
First Account
Inquiry window
Use this window to look at balances for the entire year for the selected account.
You can change years or accounts.
When you want to look at more detail for a period, select the period and click
on the Detail button (or double-click on the highlighted period / balance).
7-14
Transaction Reports/Post
Second Account Inquiry window
Second Account
Inquiry window
Use this window to look at all the activity for the selected period.
When you want to look at more detail for a specific transaction, select the
transaction (click on it to highlight it) and click on the Detail button. To return
to the First window, click on Back.
Third Account Inquiry window
Third Account
Inquiry window
Use this window to look at the selected transaction detail.
To return to the previous window, click on Back.
Transaction Reports/Post
7-15
Check Register
¼ Transaction Reports / Post ¼ Check Register
Overview
Use this report to look at the beginning and ending balance and detailed
transactions for an account over any time period (includes both posted and
unposted transactions). Quickly retrieve the balance on your checking account
or see all checks written during a certain time period and the account balance
at that time.
Screen options
1. Account ID — Select the account you want to view transactions for.
2. Transaction Dates From / To — Enter the range of transaction dates
to be included in the Check Register.
3. Select one of the report command buttons, explained on page 8-2.
7-16
Transaction Reports/Post
Sample G/L Check Register
Transaction Reports/Post
7-17
NOTES:
7-18
Transaction Reports/Post
Chapter Eight — Management Reports
This chapter explains how to generate and print your Red
Wing General Ledger management reports.
Contents
Report Command and Toolbar Buttons ....................................
Working Trial Balance..............................................................
Trial Balance............................................................................
Financial Statements................................................................
Cash Flow Report ....................................................................
Graphical Report......................................................................
Budget/Actual Report ...............................................................
Management Reports
8- 2
8- 5
8- 7
8- 9
8-20
8-23
8-28
8-1
Report Command and Toolbar Buttons
These buttons are displayed at the bottom of report screens.
Overview
Printers... — Use this selection to set up reports to print on different
printers (other than the default Windows printer) or to print multiple
copies of a report. If you do not enter any users/printers on this screen,
the report automatically prints one copy to the default printer. Settings
remain as defaults until changed.
Not available
on all reports
1.
Report Name — The currently selected report is displayed.
2.
User — Choose to redirect the report for a single user by selecting
one user. To select all users, enter an asterisk (*).
If you set up a record for all users (*) as well as for individual users,
the report will print to the current user’s printer(s), if any are set up.
If not, the report uses the all users (*) settings.
3.
Printer — Select the printer to use for the selected user(s).
To Print Multiple Copies, enter two records for the same user.
To Redirect a Report, change to a different printer (other than {Default}).
8-2
Alt R
Reset — Clear the fields to their original default entries.
Alt F
File — Save the report to a file, as follows:
• HTML
• Microsoft Excel
• Rich Text Format (Microsoft Word)
• MS-DOS Text
Alt V
Preview — Switch to Preview mode where you can view the report,
print it, output it to a file or other software. For more information see
Preview Toolbar (page iv).
Alt P
Print — Immediately send the report to the currently selected printer. A
Printing dialog is displayed, showing the progress of your report. When
printing is complete, you are returned to the report screen.
Alt C
Close — Close current window.
Management Reports
Report Toolbar
— Displayed on all report screens.
F7
Close — Close current window.
Ctrl P
Print — Send current report to printer.
Preview Report — Display report in Preview mode. See the Print Preview
Toolbar (page iv).
Output to File — Output report in HTML, MS Excel, MS DOS Text or Rich
Text format.
Reset Report Parameters — Clear the fields to their original default entries.
F1
Help — Display help topics.
Management Reports
8-3
Print Preview Toolbar — Displayed in Preview mode.
F7
Close — Close current window.
Ctrl P
Print — Send current report to printer.
Ctrl U
Page Setup — Change margins, page orientation, printers.
Zoom — Toggle between the specified magnification percent and the "best
fit" to view the current report.
One Page — Display one page of the report.
Two Pages — Display two pages of the report.
Multiple Pages — Choose the number of pages to display at one time (up to 2
rows of 3 pages each).
Zoom — Choose the percent of magnification to view.
or
or
Office Links — Output report to MS Office. Choose from the following
options:
•
Merge it to Microsoft Word: Outputs report to Microsoft Word.
•
Publish it in Microsoft Word: Outputs report to Microsoft Word in rich
text format (*.rtf)
•
Analyze it in Microsoft Excel: Outputs report to MS Excel in *.xls format
Send — Output report to HTML, MS Excel, MS DOS Text or Rich Text
Format.
Output to Notepad — Output the report to Notepad in MS-DOS text format
(*.txt).
F1
8-4
Help — Display help topics.
Management Reports
Working Trial Balance
¼ Management Reports ¼ Working Trial Balance
Overview
Use this report to produce a worksheet to use at the end of the year that shows
year-to-date account balances and either last-year, budget, or forecast balances.
It also leaves space for you to write down adjusting entries.
Screen options
1.
Period — Enter the period for which you want to produce the report.
The report will show the year-to-date balance, including this period's
net change.
2.
Print — Select the type of information you want shown on the report in
addition to the current year account balances. Choose one of the
following:
•
•
•
•
3.
Last-Year Amounts
Current-Year Budget Amounts
Next-Year Budget Amounts
Forecast Amounts
Account Sort — Enter the number of the account segment to sort by.
For example, to sort first by segment 3, then by segment 2, then by
segment 1, enter 321.
Management Reports
8-5
4.
Headings — Enter the title for the report (up to four lines of 30
characters each).
5. Select one of the report command buttons, explained on page 8-2.
Sample Working Trial Balance
8-6
Management Reports
Trial Balance
¼ Management Reports ¼ Trial Balance
Overview
Use the Trial Balance to check on individual account balances or to make sure
an out-of-balance situation is corrected.
Always print a Trial Balance Report after closing a period.
You can print actual, budget, last-year, or forecast balances.
Screen options
1.
Period — Enter the period for which you want to produce the report.
2.
Print — Select the type of information you want shown on the Trial
Balance. Choices are:
• Actual Amounts
• Current-Year Budget Amounts
• Next-Year Budget Amounts
• Last-Year Amounts
• Forecast Amounts
3.
Print by Account Types — If you want to print by account types,
check the box. Subtotals are shown after each type of account.
Management Reports
8-7
4.
Account Sort — Enter the number of the account segment to sort by. For
example, to sort first by segment 3, then by segment 2, then by segment 1,
enter 321.
5.
Main Account From / To — Enter the range of accounts you want
included on this report.
6.
Profit Center From / To — Enter the range of profit centers you want
included on this report.
7.
Include Zero Balance Accounts — Check this box to include all of the
accounts in the selected range on the report, including those with a zero
balance (no activity for the year-to-date).
8.
Headings — Enter the title for the report (four lines of 30 characters
each).
9.
Select one of the report command buttons, explained on page 8-2.
Sample Trial Balance
8-8
Management Reports
Financial Statements
¼ Management Reports ¼ Financial Statements
Overview
Use this selection to produce balance sheets, income statements, and ratio
analyses. Over 20 pre-defined Financial Statements come with the system and
you can set up additional statements by using Build Statements (page 13-12) on
the Management Reports Setup Menu.
Anytime you change or modify reports, you need to run Build
Statements (page 13-12) in the Management Reports Setup
Menu BEFORE printing them from the Financial Statements
menu.
For an overview of the process used to produce additional financial
statements see How to Set Up Financial Statements, page 4-5.
If you print the same financial statements on a routine basis, such as at end-ofmonth, you can use Report Queues to set up a group of statements in a queue.
When you print statements, enter the queue ID to print all reports that are set
up in that queue. Report queues are explained on page 13-21.
Before you use this selection for the first time, review the sample financial
statement formats that come with the General Ledger. You can use them to
print your own financial statements, modify them to suit your needs, or set up
your own statement contents and then build the statements.
Before you print financial statements, make sure all transactions have been
entered, verified, corrected if necessary, and posted. Then print a Trial Balance
or a Working Trial Balance to check the account balances. If you find errors,
enter adjusting transactions and post them.
Management Reports
8-9
Screen options
1. Statement or Queue — Select whether you are printing a single
statement or a group of statements in a queue.
2. Statement ID / Queue ID — Select one of the following:
• To print a group of statements set up in a queue, select the queue ID.
• To print a single statement, select the applicable statement ID.
3. GL Period — Enter the reporting period. The statement covers the entire
accounting period from the first of the year through the selected period.
4. Beginning Date / Ending Date — The beginning and ending dates for
the period you entered are listed.
These dates are for information only. You can print them on the statement,
in the statement title and footers, by using print-time inserts set up in the
Maintain Statement portion of Build Statements.
5. Account Sort — Enter the number of the account segment to sort by. For
example, to sort first by segment 3, then by segment 2, etc., enter 321.
6. Segment Detail — Check the box to print all accounts. If the check box is
left blank, the accounts are summarized into the main account segment.
IF you put a check mark in Segment Detail on the Financial
Statements Options window, the account description comes from the
Description field in Setup and Maintenance - Chart of Accounts.
8-10
Management Reports
IF you do not check Segment Detail on the Financial Statements Options
window, the account description comes from the description in Setup and
Maintenance - Account Segments/Profit Centers.
7. Accounts with Zero Balances — Check the box to include accounts
with zero balances.
8. Workstation Date and Time — Check the box to print the workstation
date and time.
9. Prepare New Data — To prepare new data, check the box; otherwise,
financial data from the last time you printed the statement is used. (Data is
prepared and stored when you build a statement or click on Prepare New
Data and print or preview the statement. If you choose not to prepare new
data, the stored data is used in the statement.)
10. Show Account Number — If you want to show the account number with
the account description, select the check box.
11. Select the range of account segments you want included.
12. Project — To produce financial statements that show only transactions for
a specific project, enter the project code.
"Project" financial statements differ from other statements as follows:
• Totals are shown only for the current year. If you print a financial
statement that shows prior year amounts, they will all be zero.
• Year-to-date totals include amounts from prior years, as well as the
current year.
• Budget and forecast amounts for the current year are unchanged.
13. Project Description — If desired, enter a description for the project. This
entry is informational only. If you want it printed in the statement title or
footer, use the print-time insert *Proj.
14. Project to Date — Check the box if you want to show totals for project
activity over the life of the project. Year-to date totals include amounts from
prior years, as well as the current year. Leave the check box clear if you want
to show totals for the current year only.
Budget and forecast amounts for the current year are unchanged. If the
financial statement is one that normally shows prior year amounts, they
will all be zero.
Management Reports
8-11
15. Select one of the report command buttons, explained on page 8-2.
Sample Income Statement - Current Period Year-to-date
8-12
Management Reports
Sample Income Statement - Current Period Compared to Budget
Management Reports
8-13
Sample Income Statement - Current Year Compared to Prior Year
8-14
Management Reports
Sample Balance Sheet - Current Period
Management Reports
8-15
Sample Balance Sheet - Current Period Compared to Budget
8-16
Management Reports
Sample Balance Sheet - Current Period Compared to Prior Year
Management Reports
8-17
Sample Ratios Report — Summary
8-18
Management Reports
Sample Income Statement - Current Year Compared to Prior Year
Management Reports
8-19
Cash Flow Report
¼ Management Reports ¼ Cash Flow Report
Overview
The Cash Flow Report provides information about sources and uses of cash and
cash equivalents in a business. The Financial Accounting Standards Board
(FASB) has determined that a Cash Flow Report should be part of a complete
set of financial statements.
The Cash Flow Report is generated according to the Indirect
Method as described in FASB Statement 95.
The Cash Flow Report format is set up in Define Cash Flow Contents
(page 13-20) on the Management Reports Setup Menu.
If the Cash Flow Report prints account balances in the wrong section or
is missing information, your accounts have probably been assigned the
wrong account type. Print an Account List and verify the account types.
8-20
Management Reports
Screen options
1. Cash Flow Content ID — Select the previously defined report definition
for the Cash Flow Report.
2. Period From / To — Enter the range of periods you want included in this
report. The system defaults to the number of periods set up for the year. For
example, if you have 13 periods, the defaults are 1 and 13.
3. Years From / To — Select a range of years you want included in report.
When you do not want to limit your report to a specific range, leave the
From/To fields blank.
4.
Select a range of account segments for the Cash Flow Report.
5.
Print Detail —
•
If you want the information broken down for each account segment,
select the Print Detail check box.
•
If you want the information for all segments of an account
summarized into the main account segment, leave the check box
empty.
6.
Headings — Enter the title for the Cash Flow Report (up to four lines
of 30 characters each).
7.
Select one of the report command buttons, explained on page 8-2.
Management Reports
8-21
Sample Cash Flow Report
8-22
Management Reports
Graphical Report
¼ Management Reports ¼ Graphical Report
Overview
Use this report to show selected accounts in five available graphical formats.
These graphs give you a variety of visual comparisons.
Screen options
1. Graph Type — Select the type of graph you want to see. Choices are:
• Vertical Bar
• Vertical Bar 3-D
• Pie Chart
• Line Graph
• Line Graph 3-D
2. Dollars or Qty — Select the balance type. Possible entries are:
• Dollars
• Primary Quantity
• Alternate Quantity
Management Reports
8-23
3. Show Totals For — Show totals by Period, Quarter or Year. If Year is
selected, up to five years of history is shown.
4. Totaling — Select how you want to show totals. Choices are:
•
Year to Date — Shows accumulated totals to date.
•
Period Change — Shows change in balance from one period to the
next.
5. Show Row 1 / Row 2 / Row 3 — Click on the rows you want to show.
However, since you must show at least one set of data, you cannot deselect
Row 1. Also, you must select Row 2 before selecting Row 3. For the
broadest comparisons, select all three rows.
With pie charts you can show only one set of data. Any data in Rows 2
and 3 is ignored and a warning message appears asking if you want to
change to a different graph type. If you select Yes, you are returned to
the Graphical Report screen and can select a different graph type. If you
select No, the pie chart shows only Row 1 data.
For each row select the following information:
6. Balance Type — Select the type of balance you want to show.
Choices are:
• Actual
• Budget
• Forecast
• Actual Reversed (reverses the sign of the amount)
• Budget Reversed (reverses the sign of the amount)
• Forecast Reversed (reverses the sign of the amount)
7. GL Year — Select the first year to show.
8. Account Type From / To — Enter the range of account types you want
included on this graph.
When you do not want to limit your graph to a specific range, leave the
From/To fields blank.
9. Main Account (Or Whatever Account Name You Gave Your
Account Segments) From / To — Enter the range of accounts you want
included on this graph.
8-24
Management Reports
10. Profit Center (Or Whatever Account Name You Gave Your Account
Segments) From / To — Enter the range of profit centers you want
included on this graph.
11. Select one of the report command buttons, explained on page 8-2.
Management Reports
8-25
Sample Account Balances (Graph) — 3D Vertical Bar
8-26
Management Reports
Sample Account Balances (Graph) — Pie Chart
Management Reports
8-27
Budget/Actual Report
¼ Management Reports ¼ Budget/Actual Report
Overview
Use the Budget/Actual Report to print period-by-period totals for accounts. You
can print any combination of actual, budget and forecast amounts or quantities
for comparisons.
Screen options
1. Main Account (Or Whatever Account Name You Gave Your
Account Segments) From / To — Enter the range of accounts to
include in this report.
When you do not want to limit your report to a specific range, leave the
From/To fields blank.
2. Profit Center (Or Whatever Account Name You Gave Your Account
Segments) From / To — Enter the range of profit centers to include in
this report.
8-28
Management Reports
3. Scaling — Use the scaling factor to represent dollar amounts to the
nearest hundred or thousand dollars, so that large values fit in less space;
otherwise, values that are too large will be cut off. Choices are:
• no scaling
• by 100
• by 1000
4. Show Actual Amounts — Check this box to show actual amounts.
5. Show Budget Amounts — Check this box to show budget amounts.
6. Show Forecast Amounts — Check this box to show forecast amounts.
7. Dollars or Qty — Select whether you want to show dollars, primary
quantities or alternate quantities on this report.
8. Account Sort — Enter the number of the account segment to sort by. For
example, to sort first by segment 3, then by segment 2, then by segment 1,
enter 321.
9.
Select one of the report command buttons, explained on page 8-2.
Management Reports
8-29
Sample Budget/Actual Report
8-30
Management Reports
Chapter Nine — End-of-Year
This chapter explains end-of-year how to procedures, how
to change fiscal years, remove history for a prior year, and
how to add a previous year to the General Ledger.
Contents
Related Topic
End-of-Year .............................................................................
Change Current Fiscal Year .....................................................
Add Prior Fiscal Year ...............................................................
Remove Fiscal Year .................................................................
9999-
2
3
4
5
Also, see “Year-End Processing” on page 4-6 for a complete overview of
the year-end procedure.
End-of-Year
9-1
End-of-Year
¼ End-of-Year ¼ End-of-Year
Overview
Use this selection to close the current year and start the new fiscal year. Click
OK to start the process.
What happens
during End-ofYear?
1. All income statement accounts are checked to make sure they are being
cleared to a balance sheet account (An owner's equity credit balance account
falling within the account type range of 400 through 499).
2. If the correct “clear to” accounts are being used, the current year's balance
sheet accounts' ending balances become the next year's beginning balances.
3. Each income account and expense account's ending balance is added to (or
subtracted from) the “clear to” account's beginning balance and the
beginning balance is set to zero for the start of the new year.
4. The current fiscal year is updated.
9-2
End-of-Year
Change Current Fiscal Year
¼ End-of-Year ¼ Change Current Fiscal Year
Overview
Use this selection to change the current fiscal year to any existing fiscal year
for viewing and printing statements, journals, and reports.
Screen options
1. The current fiscal year is displayed.
2. Select the fiscal year you want to change to.
3. Click OK to change the current fiscal year. When the current year is
changed, a message lets you know the year has been changed successfully.
Command
buttons
OK
Change current year.
Cancel
Return to the Main Menu without changing the year.
End-of-Year
9-3
Add Prior Fiscal Year
¼ End-of-Year ¼ Add Prior Fiscal Year
Overview
Choose this selection to add a year to the beginning of the General Ledger. You
might want to do this if you need to add historical data to your ledger.
Command
buttons
OK
Begin processing.
Cancel
Return to the Main Menu without adding the year.
9-4
End-of-Year
Remove Fiscal Year
¼ End-of-Year ¼ Remove Fiscal Year
Overview
Choose this selection to remove all the transactions and account totals for the
earliest fiscal year in the General Ledger.
Command
buttons
OK
Begin processing.
Cancel
Return to the Main Menu without removing the year.
End-of-Year
9-5
NOTES:
9-6
End-of-Year
Chapter Ten — Utilities
This chapter explains miscellaneous functions available in
the General Ledger.
Contents
Topics
Covered
Recalculate Account Balances..................................................
Zero Account Balances ............................................................
Summarize Transactions..........................................................
Copy Account Balances ...........................................................
Copy Chart of Accounts ...........................................................
Copy Sample Chart of Accounts...............................................
10- 2
10- 3
10- 5
10- 7
10- 9
10-12
How to copy the Sample Chart of Accounts (page 10-12).
Utilities
10-1
Recalculate Account Balances
¼ Utilities ¼ Recalculate Account Balances
Overview
Use this selection to force the amounts that show on the Trial Balance to agree
with the totals in the Activity Report. If the period totals match what the
transactions add up to, nothing happens; however, if they do not match, the
totals are changed and a report is printed showing the changes.
Screen options
1. Account From / To — Enter the range of accounts you want included in
this report.
When you do not want to limit your report to a specific range, leave the
From/To fields blank.
2. Select one of the report command buttons, explained on page 8-2.
10-2
Utilities
Zero Account Balances
¼ Utilities ¼ Zero Account Balances
Overview
Use this selection to eliminate all the transactions and balance information for
a range of accounts. For example, use it to zero out all activity and start over, to
zero out balances so that accounts can be deleted.
Screen options
1. Account From / To — Enter the range of accounts you want included in
this report.
When you do not want to limit your report to a specific range, leave the
From/To fields blank.
2.
Select one of the report command buttons, explained on page 8-2.
Utilities
10-3
Command
buttons
10-4
Reset
Clears the selected range of accounts, allowing you to start over.
OK
Begin processing.
Cancel
Return to the Main Menu without zeroing account balances.
Utilities
Summarize Transactions
¼ Utilities ¼ Summarize Transactions
Overview
Use this selection to summarize all of an account's transactions by period for
any fiscal year. This greatly reduces the size of your files, but still allow you to
keep the period totals needed for prior year comparisons.
Once this process is complete, the detail transaction
information is no longer available.
You must compact your database to recover the space made available by
this process. See your Getting Started Guide.
Screen options
1. Account From / To — Enter the range of accounts you want included in
this report.
When you do not want to limit your report to a specific range, leave the
From/To fields blank.
Utilities
10-5
2. GL Year — Select the year for which you want to summarize an account's
transactions.
3.
Command
buttons
10-6
Select one of the report command buttons, explained on page 8-2.
Reset
Clears the selected range of accounts and GL year, allowing you
to start over.
OK
Begin processing.
Cancel
Return to the Main Menu without summarizing transactions.
Utilities
Copy Account Balances
¼ Utilities ¼ Copy Account Balances
Overview
Use Copy Account Balances to copy the actual, current-year budget, last-year,
or forecast balances of a range of accounts to their next-year budget or forecast
balances. The amounts can be adjusted by a fixed percentage during the copy
process.
Screen options
1. Each defined account segment is represented by a pair of From/To boxes at
the top of the screen. The labels on the boxes correspond to the names you
gave the segments.
Segment (1-3) From — Select a starting segment, or leave this field
blank to start with the first segment.
Segment (1-3) To — Select an ending segment, or leave this field blank
for the highest numbered segment.
You have as many segments as you set up when you created your chart of
accounts. Leave both boxes blank to select all segments.
Utilities
10-7
2. Copy Account Balances From/To — The current year and the next
year are set as the defaults of years to copy from and to.
3. Account Balance From — Select Actual, Budget, or Forecast to copy
from.
4. Account Balance To — Select Budget or Forecast to copy the account
to.
5. Percent Change — Enter a positive or negative percent to adjust the
copied amount. For example, enter 10 to increase the copied account by 10
percent.
6.
Command
buttons
10-8
When you are finished select Close or click on the close button to save
your changes and return to the Main Menu.
Reset
Set all fields to their default.
OK
Copy the selected current year account to the selected year.
Close
Return to the Main Menu.
Utilities
Copy Chart of Accounts
¼ Utilities ¼ Copy Chart of Accounts
Overview
If several companies have similar charts of accounts, Copy Chart of Accounts
helps you save time by copying accounts from one company to another. You
can also copy the budget and forecast balances.
For each copied account, the following fields are copied:
•
General ledger account number
•
Account description
•
Type of account (debit, credit, or memo)
•
Clear-to account number
If the company you are copying to has a chart of accounts, you can replace
accounts with the same numbers or leave the accounts unchanged. If you
replace the accounts, the balances for the existing accounts are lost.
If you copied more accounts than you wanted, or if you need to change
information in the accounts you copied, use the Chart of Accounts (page 12-12)
selection to change or delete the accounts.
Utilities
10-9
Screen options
The Copy section of the screen contains option buttons for Company and for
each account segment. The names of the segments are taken from the
descriptions you set up in Account Segments/Profit Centers.
To copy, check the box. If you do not want to copy a segment, make sure the
check box is clear.
1. You can copy an entire account structure or segments of the account
structure.
•
To copy the entire account structure for a company, select the
Company check box and select the Copy Company From/To values.
This selection lets you copy accounts from one company to another.
•
To copy specific segments of an account structure, check the box of the
segment you want to copy and select From/To values for the segments.
This selection lets you copy accounts within a single company.
2. To copy the current year's actual amounts, check the box.
If you copy the current year's actual amount, you may put your
system out of balance, because it is possible to copy debit
balances without the corresponding credit balances. Also,
transactions are NOT copied.
10-10
Utilities
3. To copy the current year's budget amounts, check the box.
4. To copy the current year's forecast amounts, check the box.
5. To copy the last year's actual amounts, check the box.
6. To copy the next year's budget amounts, check the box.
7. To replace existing accounts in the destination company, check the box. If
you replace existing accounts, the balances for those accounts are lost,
possibly putting the destination general ledger out of balance.
8. When you are finished select Close or click on the close button
save your changes and return to the Main Menu.
Command
buttons
OK
Begin processing.
Close
Return to the Main Menu.
Utilities
to
10-11
Copy Sample Chart of Accounts
¼ Utilities ¼ Copy Sample Chart of Accounts
Overview
Use this selection to select a chart of accounts tailored to your business from
the ten sample charts of accounts that come with your General Ledger system.
This chart of accounts can then be used as a starting point for setting up your
General Ledger.
You can only use this selection when the account file is empty (no
accounts have been entered in the Chart of Accounts selection).
How to copy the
Sample Charts
of Accounts
1. Business Type — Click on the combo box (or press Alt ). Highlight
the business type that most closely matches your business and press Enter
to select it. A description of that business type is displayed.
2.
10-12
Click OK to begin the copy process, Preview to print out the currently
selected chart of accounts, or Cancel, if you decide not to use one of the
sample charts of accounts.
Utilities
Chapter Eleven — Special Options
This chapter introduces Red Wing developed Special
Options. These are add-on programs that let you customize
the General Ledger to fit the specific needs of your
business, giving you additional flexibility. If the Special
Option is already installed, click on the menu selection to
access the opening screen. On any Special Option screen,
click on F1, for detailed directions on using it.
Contents
Change Posted Transactions....................................................
Report Designer .......................................................................
Change Account Number .........................................................
Change Account Structure........................................................
Consolidated Statements .........................................................
ASCII Input ..............................................................................
Special Options
111111111111-
2
3
4
5
6
7
11-1
Change Posted Transactions
¼ Special Options ¼ Change Posted Transactions
Overview
11-2
Use this Special Option to change current year posted transactions. You can
make changes to text fields (which you can also do in Review Transactions on
the Transaction Reports/Post Menu), and can make the following changes to
posted transactions:
•
Change debits, credits, primary quantities, alternate quantities, accounts
and periods. Account balances are adjusted accordingly.
•
Delete transactions.
Special Options
Report Designer
¼ Special Options ¼ Report Designer
Overview
This Special Option lets you make major modifications to your Income
Statement or Balance Sheet reports. Use this option to change the type of
information that is printed in each column of the reports.
Whenever you change the layout of an existing statement, copy
the statement and enter a new ID for the one you are changing.
This gives you an excellent backup of the original statement.
Whenever you add to a statement layout or change the layout of a statement,
print the Statement Layout List.
Special Options
11-3
Change Account Number
¼ Special Options ¼ Change Account Number
Overview
Use this Special Option to change an account number. All of the account
information is preserved — the only thing that changes is the account number
itself.
Not only is the account number changed in the General Ledger, but also in all
Red Wing modules that interface with the General Ledger.
You can also use this selection to combine one account with another. Do this by
changing an account number to one that already exists. The original account’s
totals are then added to the existing account’s totals.
Make a backup of your data files BEFORE changing an account
number.
11-4
Special Options
Change Account Structure
¼ Special Options ¼ Change Account Structure
Overview
Use this selection (a part of the Change Account Number Special Option) to
change the number of segments in your account number structure or to change
the length of an existing account segment.
Not only is the account structure changed in the General Ledger, but also in all
Red Wing modules that interface with the General Ledger.
Autosplit information is removed during this process and must be
entered again.
For more information on account structure, see Account Structure on the Setup
and Maintenance Menu.
Make a backup of your data files BEFORE changing account
structure.
Special Options
11-5
Consolidated Statements
¼ Special Options ¼ Consolidated Statements
Overview
11-6
Use this Special Option to print consolidated financial statements, combining
more than one company’s records.
Special Options
ASCII Input
¼ Special Options ¼ ASCII Input
Overview
The ASCII Input Special Option transfers transaction information from an
ASCII file into the General Ledger. You can use the standard Red Wing ASCII
file format or design a custom definition describing your input file.
Special Options
11-7
NOTES:
11-8
Special Options
Chapter Twelve — Setup and Maintenance
This chapter explains how to set up the account structure
(format and length), profit centers, autosplits (automatic
distribution to multiple accounts) and other key features of
your General Ledger.
Contents
Customization ..........................................................................
Account Structure.....................................................................
Account Classes ......................................................................
Account Types .........................................................................
Account Segments/Profit Centers .............................................
Chart of Accounts ....................................................................
Account Autosplits ...................................................................
Recurring Transactions ............................................................
Account Budgets ......................................................................
Account Balances ....................................................................
Setup and Maintenance Menu
12- 2
12- 4
12- 7
12- 8
12-10
12-12
12-16
12-18
12-21
12-25
12-1
Customization
Setup and Maintenance Customization
Overview
Use Customization to set up General Ledger options, including the forcedbalance password for the Transaction Entry Out of Balance screen (page 5-10).
Screen options
General
1.
12-2
Copy Recurring Transactions directly to the Transaction
Journal — If you want to post recurring transactions directly to the
Transaction Journal, check the box. If the check box is not selected, the
recurring transactions are entered into the transaction work file where you
can modify them before writing them to the Transaction Journal.
Setup and Maintenance Menu
2.
Use Last Period for Normal Processing — If you want to use the
13th period for normal processing, check the box. Only budget
maintenance and reversing entries are affected by this selection. The
following happens if the check box is NOT checked:
•
In Account Budgets (page 12-21), the last period amounts are not
automatically filled in. For example, if you copy last year's amounts
to the budget, the last period is left blank.
•
Reversing entries are not made to the last period. Instead, they are
made to period 1 of the next year.
Periods are set up on the Company Setup Menu in the System
Manager.
3.
Interface With Project Cost — Check the box if the General Ledger
is interfaced with Project Cost. You can then choose projects from
Project Cost and print financial statements for projects.
Forced-Balance Password
4.
Password — Enter a password to be used before posting “out-ofbalance” batch of transactions. This password will be used only in
unusual situations such as when your data files have become corrupted,
resulting in an out-of-balance situation, and you don’t have a good
backup. The default password is ABC until you change it.
5.
When you are finished, close the screen
return to the Main Menu.
to save your changes and
Setup and Maintenance Menu
12-3
Account Structure
Setup and Maintenance Account Structure
Overview
Use this selection to define or change the account numbering structure. You
should already have figured out the number of account segments (page 10-10)
to be used in the account numbering structure. Segments are generally used to
define main account numbers, sub-account numbers, divisions, departments,
etc.
Once accounts are set up, you cannot change the number of
segments for a company.
If you use the Red Wing DOS version of Payroll and will be
posting to the General Ledger, DO NOT use alphabetic
characters in your account structure. You must use account
numbers.
How to…
12-4
Define an account structure
1.
Select the number of segments (from 1 to 3).
2.
Select the length of each segment and its format.
Setup and Maintenance Menu
Screen options
1.
Company ID — The current company code is displayed. You cannot
change it.
2.
Number of Segments — Enter the number of segments in this
company's account structure (up to three). You cannot change the
number of segments for an existing company.
3.
Separator — Select the separator character you want used between
account segments. Choose from these options:
Separator
Example
None
100310
( )
Space
1003 10
(-)
Hyphen
1003-10
(.)
Period
1003.10
(:)
Colon
1003:10
(/)
Slash
1003/10
4.
Current Fiscal Year — The current fiscal year is displayed. You can
change it ONLY if the account structure has not been defined.
5.
Seg Num — Select the segment you want to define.
6.
Format — Enter the format characters for the selected segment, using
the characters displayed in the Valid Format Characters box on the right
side of the screen. They are:
0 = Only numbers (0-9) are allowed in this position.
L = Only uppercase letters (A-Z) are allowed in this position.
A = Either numbers or letters (0-9, A-Z) are allowed in this
position.
Example: The segment format is four characters. If you want it to be
all numbers, enter 0000. If the first and third characters are letters, the
second character a number, and the fourth character either a letter or
number, enter L0LA.
Setup and Maintenance Menu
12-5
7.
Length — The length of the segment is calculated from the Format
entry. You can accept the default or change the length (which
automatically adjusts the size of the Format entry).
8.
Description — Enter a description for the segment, up to 20
characters. For example, Main Account.
9.
Abbreviation — Enter an abbreviation for the segment description, up
to four characters. The abbreviation is used by Account Segments/Profit
Centers (page 10-10) to label the segment buttons. For example, you
could enter MAIN for the main account or PROF for profit center.
10. Validate — If you select this check box, the individual segment will be
validated when entering account numbers in Chart of Accounts, page 12-12.
Example: You have two segments (a four-digit main account and a
three-digit profit center). Select the Validate check box for the profit
center segment and leave it blank for the main account segment. This
will force you to set up valid profit center numbers, but let you enter any
main account number. This not only speeds up the account entry
process, but also results in more accurate account setup.
11. Maximum Allowed — The maximum number of characters (10) you
can enter for an account is displayed.
12. Remaining — As you enter characters, the remaining number
available is updated. It is calculated by adding the length of all the
segments and subtracting this sum from the value in the Maximum
Characters Allowed field.
13. When you are finished, close the screen
return to the Main Menu.
12-6
Setup and Maintenance Menu
to save your changes and
Account Classes
Setup and Maintenance Account Classes
Overview
Use Account Classes to view and/or change information about the general
category an account type fits into; for example, long-term asset, current asset,
or long-term liability. This information is used to simplify financial statement
setup.
Screen options
1.
Class / Description — The account class codes and descriptions are
displayed. You cannot change the class code numbers, but you can
change the descriptions to match your business.
2.
When you are finished, close the screen
and return to the Main Menu.
3.
Print the Account Classes List (page 14-2) to check your entries.
to save the information
Setup and Maintenance Menu
12-7
Account Types
Setup and Maintenance Account Types
Overview
Use this selection to group accounts together for financial reports, such as the
Cash Flow Statement.
Each account type has an account class (page 12-7) and normal balance
associated with it.
•
The account class is the general category, such as long-term
asset, current asset, and fixed assets.
•
The normal balance specifies whether the account is a debit,
credit, or memo account.
There are also several account types with a description of other. To
accommodate unique needs, you can modify these account types to fit your
specific requirements.
12-8
Setup and Maintenance Menu
Screen options
1.
Type ID / Type Description / ClassID / Class Description /
Normal Balance — For each account type, the class and normal
balance (whether it is a debit or credit) is shown. You can do the
following:
•
Add new account types, if you want to make more detailed financial
statements.
•
Change an account type's normal balance, if it is not assigned to any
accounts.
2.
When you are finished, close the screen
return to the Main Menu.
3.
Print the Account Types List, page 14-4.
to save your changes and
Setup and Maintenance Menu
12-9
Account Segments/Profit Centers
Setup and Maintenance Account Segments/Profit Centers
Overview
If you have set up profit center, division, department, or other sub-account
segments in Account Structure (page 12-4), use this selection to set up a
description of each profit center, division, department, and/or sub-account you
use.
Account segments and profit centers are automatically added when you
add your accounts through Setup and Maintenance - Chart of Accounts.
For several General Ledger reports you can select ranges of profit centers,
divisions, departments, and/or sub-accounts and you can specify the order of
the account segments. The descriptions assigned in this selection appear in the
combo boxes used when selecting account segment ranges.
The descriptions entered for the main (first) account segment are printed
on the Financial Statements when the statements are printed without
segment details.
How to…
Add a segment ID
1.
Use the buttons at the top of the screen to select the segment.
2.
Select the New Record icon
blank entry line appears.
3.
Enter the segment ID.
4.
Enter the description.
on the tool bar (or press Ctrl A). A
Change a segment ID
1.
12-10
Use the buttons at the top of the screen to select the segment.
Setup and Maintenance Menu
2.
Select the segment ID.
3. Change the segment description.
Delete a segment ID
Screen options
1.
Use the buttons at the top of the screen to select the segment.
2.
Select the segment ID.
3.
Press the F3 key. If the segment ID is already used in an account (see
Chart of Accounts, page 12-12), you cannot delete it. If the segment ID
is not in use, you are asked if you are sure you want to delete it.
1.
A command button appears for each segment defined in the Account
Structure dialog (page 12-4). Click on the button to select the segment
you want to describe.
2.
Segment ID — Select or enter the segment ID. If you enter an existing
ID, information about the segment appears.
3.
Description — Enter a description for the segment ID.
4.
When you are finished, close the screen
return to the Main Menu.
5.
Print the Account Segments List, page 14-6.
to save your changes and
Setup and Maintenance Menu
12-11
Chart of Accounts
Setup and Maintenance Chart of Accounts
Overview
Use this selection to set up and maintain the master chart of accounts.
Take time to determine the best account structure for your present
and future needs. See “How to Set Up The General Ledger” on
page 2-2 for help in planning your Chart of Accounts.
If your General Ledger is interfaced with other Red Wing applications, see the
appropriate user guide for information about the accounts you need to post
entries from. Make sure the General Ledger tables and records in the other
applications match the appropriate accounts in the Chart of Accounts. If they
do not match, the journal entries from the other applications are not posted
properly.
When you are finished setting up the accounts, do NOT use
this selection to change actual balances. If you do, you can put
the General Ledger out of balance, without leaving an audit
trail. Instead, enter and post journal transactions to make the
necessary beginning balance entries. See, “Make Opening
Entries,“ page 2-9.
How to…
Before you set up the master chart of accounts, the account structure
must already be set up.
Add an account (also, see Exercise 2 in the Practice System, page 3-8).
1. Select the New Acct button.
2. Enter the account number in the available segment entry boxes. If you
change the segment description, the segment file is updated automatically.
3. If desired, enter an account number to “Copy from.”
12-12
Setup and Maintenance Menu
4.
Select the account type.
5.
If the account should “clear to” (have the balance added to) another account
during end-of-year closing (it is an income or expense account), select the
account it should clear to. If the account type selected is greater or equal to
500, it is an income statement account and you must enter a clear to account.
Delete an account
1.
Select the account.
2.
Select the Delete Acct button. A confirmation box appears.
You cannot delete an account for which transactions have been
entered or for which there are balances. You also cannot delete an
account that is currently being autosplit to or that is used as another
account’s clear to account.
Edit a balance
1.
Select the Edit Balances button.
2.
The Account Balances (page 12-25) selection is activated. Use it to
change the selected account balance.
Correct mistakes
•
If you enter an incorrect account number, reenter the account
under the correct number. Then delete the old account.
•
If you change an account type, a debit/credit switch, or
actual or last-year figures, the system creates an audit log that you
must print.
Setup and Maintenance Menu
12-13
Screen options
1. Account — Select the account number.
If you are setting up new account numbers, select the New Acct button and
skip this option. Enter the account in the segment entry boxes.
2. Segment ID — If you are setting up a new account, enter the account
number in the individual segment entry fields.
3. Segment Description — The segment description is displayed. (You can
change the segment description when adding new accounts.)
4. Copy From — If you are entering a new account, you can select an account
to "copy from." The account units of measure, type and clear-to account is
copied from the selected account to the new account. You can then use that
information as defaults.
5. Description — Enter the description of the account as you want it to
appear in reports and on statements (up to 30 characters).
6. Primary UOM / Alternate UOM — Use these selections if you want to
track quantities for the account. Enter the unit of measure (or alternate unit
of measure) associated with each quantity (up to four characters). For
example, enter Each or Lbs.
7. Account Type — Select the account type. The type description, class
description, and balance type appear.
12-14
Setup and Maintenance Menu
8. Clear To Account — For an income or expense account, enter the account
number the account is cleared to during year-end closing. If the account is
not cleared at the end of the year (normally the case for Balance Sheet
accounts), leave this entry field blank.
The “clear to” account must be a credit balance capital (retained earnings)
account (the account type is 400 - 499).
9. When you are finished, select Save to save your changes and return to the
Main Menu.
10. Print the Chart of Accounts List (page 14-8).
Command
buttons
Save
Save your changes and return to the Main Menu.
Delete Acct
Delete the current account.
New Acct
Enter a new account.
Edit Acct
Make changes to an existing account.
Edit Balances
Edit existing balances.
After you have set up the accounts, do not edit the actual balances. If
you do, you can put the ledger out of balance without leaving an audit
trail. Instead, enter and post journal transactions to make the
necessary changes.
Setup and Maintenance Menu
12-15
Account Autosplits
Setup and Maintenance Account Autosplits
Overview
If you enter transactions against one major account and then distribute them to
several other accounts, you can use Account Autosplits to set up an autosplit
record for the major account.
Specify each account to which transactions are autosplit and the percentage
each account receives. The sum of the percentages must equal 100 percent.
How to…
Autosplit an account
1.
Select the account. The description is displayed.
2.
Select the account to which you want to distribute part of the transaction
amount.
3.
Enter the percent to be autosplit. (The total percent, shown at the bottom of
the screen, must equal 100 before you can close the screen.)
Change an account autosplit
1.
Select the account you want to edit. The description appears.
2.
Change the account number or percent.
Remove an autosplit account
1.
Select the account from which to remove the autosplit(s).
2.
From the Edit Menu (on the menu bar) pick Select Record and select the
one you want to remove.
3. Select Delete from the Edit Menu or press the F3 key. A confirmation box
appears.
12-16
Setup and Maintenance Menu
Screen options
1.
Account / Description — Select the major account. The account
description appears.
2.
Autosplit to Account — Select the account you want to distribute a
percentage of the transaction amount to.
3.
Percent — Enter the percentage to be distributed to the selected
account. The remaining percentage is shown at the bottom of the screen.
4.
When you are finished, close the screen
return to the Main Menu.
5.
Print the Account Autosplits List (page 14-11) to review your entries.
to save your changes and
Setup and Maintenance Menu
12-17
Recurring Transactions
Setup and Maintenance Recurring Transactions
Overview
Use Recurring Transactions to set up groups of entries you make regularly—
weekly, monthly, etc.
Once your recurring transactions are set up, you can Copy Recurring
Transactions (page 5-12) into the Transaction Journal, when appropriate,
instead of reentering them each time.
How to…
Add a recurring transaction
1.
Select the New Record icon
blank screen appears.
2.
Select or enter a recurring ID.
3.
Enter a description.
4.
Select an account number.
5.
Enter a debit or a credit amount.
6.
Select the source code.
from the toolbar (or press Ctrl A). A
Repeat steps 1-6 until you are finished, making sure the total debits and credits
balance.
Edit a recurring transaction
12-18
1.
Select a recurring ID.
2.
Edit the fields.
3.
Repeat steps 1 and 2 until you are finished, making sure the total debits
and credits balance.
Setup and Maintenance Menu
Delete a recurring transaction
Screen options
1.
Enter a recurring ID.
2.
Press the F3 key. A confirmation box appears.
1. Recur ID — Select or enter a recurring ID to identify this group of
transactions, up to 10 characters. For example, you could enter Monthly or
Weekly or Yrly Depr.
2. Description — Enter a description for the recurring ID, up to 25 characters.
3. Line — The line entry number is displayed.
4. Reference — If desired, enter a reference of up to 15 characters. For
example, you can enter a check number, sales slip number, or a brief
description for miscellaneous journal entries, etc.
5. Description — Enter a description of the transaction.
6. Account — Select the account number.
7. Debit/Credit — Enter a debit or credit amount.
8. Primary Qty / Alternate Qty — Enter the primary and/or alternate
quantity amount.
Setup and Maintenance Menu
12-19
9. Source — Select the source code. Possible entries are:
RE = Recurring entry
R1 = Reversing entry
10. Project — If desired, enter a project code. If you have the Project Cost
application, you can select an existing project or press F6 and enter a new
one.
11. Split — To autosplit the account, check the box. It must have been set up as
an autosplit account using the Account Autosplit selection.
12. Total Debits — The total debits for the recurring transaction are displayed.
The total debits must equal the total credits before you can close the screen.
13. Total Credits — The total credits for the recurring transaction are
displayed. The total credits must equal the total debits before you can close
the screen.
14. Balance Debits — If the Total Debits amount is greater than the Total
Credits amount, the difference is shown here. The debit balance must equal
zero before you can close the screen.
15. Balance Credits — If the Total Credits amount is greater than the Total
Debits amount, the difference is shown here. The credit balance must equal
zero before you can close the screen.
16. When you are finished, close the screen
to the Main Menu.
to save your changes and return
17. Print the Recurring Transactions List, page 14-13.
Command
buttons
12-20
Options
Show or hide the remaining command buttons.
Add New Line
Add a new line to the recurring entry.
Insert Line
Insert a line before the cursor.
Delete Line
Remove the selected line.
Resequence
Resequence the line numbers after inserting or
deleting lines.
Setup and Maintenance Menu
Account Budgets
Setup and Maintenance Account Budgets
Overview
Use Account Budgets to enter and adjust budget and forecast balances. You can
adjust budget balances manually or use the command buttons. The actual
amounts cannot be changed. They are shown only to help you in the budgeting
process.
How to…
Add a budget
1.
Select the account for which you are adding the budget or forecast.
2.
Select the budget or forecast year.
3.
Enter the period’s budget or forecast information or use one of the
command buttons.
Edit a budget
1.
Select the account and year.
2.
Change the budget or forecast information or use one of the command
buttons.
Delete a budget
1.
Select the account and year from which to delete the budget or forecast.
2.
Place the cursor in the first period of the selected column. Use the
command buttons to duplicate a value of zero to the budget or forecast
column.
Setup and Maintenance Menu
12-21
Screen options
1.
2.
Account / Description / Normal Balance — Enter the account
number for which you want to enter or adjust budget or forecast
balances. The following information about the account appears:
•
Account description
•
Normal balance (whether the account is a debit, credit, or memo
account)
GL Year — Enter the year for which you want to change information.
3. Budget Type — Select the budget type (dollars, primary quantities or
alternate quantities).
4. The left half of the screen shows the previous year's Actual and Budget
amounts while the right half of the screen shows the current year's
information.
The rows show the current values for each period. You cannot change the
actual amounts; you can change only the budget and forecast amounts for the
current year.
To change budget and forecast amounts, select the existing amount and enter
the new value or use the command buttons to change the values.
5. In addition to making manual entries, you can use the command buttons to
adjust budget or forecast balances.
6. When you are finished, Close the screen to save your changes and
return to the Main Menu.
12-22
Setup and Maintenance Menu
Command
buttons
To use the command buttons to automatically update budget or forecast
amounts, position the cursor in one or the other column in any row other
than 0 (the beginning balance). Next, click on the desired command
button and all the rows in the current column are filled in, starting with
the current row. (If you did not check "Use Last Period for Normal
Processing" in Customization, the rows up to the last period's are
updated.)
Duplicate
Replace the amounts in the currently selected period and
subsequent periods in the column with a specified amount.
In the dialog box that appears, enter the positive or negative
amount and click on OK.
Allocate
Replace the amounts in the currently selected period and
subsequent periods in the column with a specified amount
divided by the number of periods below the currently selected
period.
In the dialog box that appears, enter the positive or negative
amount and click on OK.
Last Yr $
Replace the amounts in the currently selected period and
subsequent periods in the column with the amount in the
corresponding last-year Actual column plus or minus a
specified amount.
In the dialog box that appears, enter the amount and click OK.
Last Yr %
Replace the amounts in the currently selected period and
subsequent periods in the column with the amount in the
corresponding last-year Actual column plus a specified
percentage of that amount. This change is shown
mathematically as:
Amount = (LY Budget) + (LY Budget)
x (Amount you enter) / 100
Example—You enter 20% and last year's budget was $1,000.
The result is $1200 ($1,000 + $1,000 x .20).
In the dialog box that appears, enter the positive or negative
percent and click on OK.
Setup and Maintenance Menu
12-23
12-24
Show Pd 0
Show period zero (0) balances. Unselect it to hide period zero
balances. Period zero is the beginning balance for the year.
Previous
Go to the previous account's budget information.
Next
Go to the next account's budget information.
Setup and Maintenance Menu
Account Balances
Setup and Maintenance Account Balances
Overview
Use Account Balances to enter and adjust actual (not recommended), budget,
forecast and market value account balances.
For a proper audit trail, do not use this selection for any
Account Balance. The preferred method of adjusting balances
or entering beginning balances is through journal entries
(transactions) to give you an audit trail. Balances entered here
will not match your Transaction Lists. Also, if you use
Recalculate Account Balances, these balances are deleted.
The "Period 0" entry is the beginning balance at the start of the fiscal year. For
income and expense accounts this balance should be zero. For balance sheet
accounts (assets, liabilities, capital), this amount is the balance at the start of
the year.
Each of the period balances is the net change in the balance, not the year-todate balance. For example, if an electric expense is $95.00 per month, each
period shows $95.00, rather than year-to-date totals of $95.00, $190.00,
$285.00, etc.
For accounts with a normal credit balance, such as liability accounts, enter the
amounts as positive numbers. The system will properly keep track of the sign of
the balances based on the account's normal balance.
Setup and Maintenance Menu
12-25
Screen options
1.
Account — Select the account number for the account balances you
want to enter or adjust. The account description is displayed.
2.
GL Year — Select the year. The number of periods in the year is
displayed (plus zero for beginning balance and a total).
3. Market Value — This check box is used to indicate that the market value
amounts entered for this account are to be used when printing a market value
report. If the check box is not selected, then the accounts actual balance is
used when printing a market value.
4. Balance Type — Select the balance type you want to enter. Options are
Actual, Budget, Forecast and Market Value.
5. Enter balances in the appropriate column (see the command buttons below).
6. When you are finished, close the screen
return to the Main Menu.
Command
buttons
12-26
to save your changes and
Next
Show the next account's balances.
Previous
Show the previous account's balances.
Setup and Maintenance Menu
Chapter Thirteen — Management Reports Setup
This chapter explains how to set up and modify financial
statement formats and to create report queues for printing
several reports at one time.
Contents
Define Statement Contents.......................................................
Maintain Statement Contents ..............................................
Add New/Insert/Edit......................................................
Copy Statement Content .....................................................
Delete Statement Content ...................................................
Build Statements......................................................................
Maintain Statement .............................................................
Copy Statement ..................................................................
Delete Statement ................................................................
Define Cash Flow Contents ......................................................
Build Report Queues ................................................................
Maintain Queues .................................................................
Add/Insert/Edit .............................................................
Copy Queues ......................................................................
Delete Queues ....................................................................
Pretest Queues ...................................................................
Management Reports Setup
13- 2
13- 3
13- 7
13-10
13-11
13-12
13-13
13-16
13-17
13-18
13-21
13-22
13-24
13-26
13-27
13-28
13-1
Define Statement Contents
¼ Management Reports Setup ¼ Define Statement Contents
Use this selection to specify the type of information to be set up in each row of
a financial statement.
Overview
Whenever you change the layout of an existing statement, copy
the statement and enter a new ID for the one you are changing.
This gives you an excellent backup of the original statement.
Whenever you add to a statement content or change the content of a statement,
print the Statement Contents List, page 14-15.
Screen options
1. z
2.
Command
buttons
13-2
To add or edit statement contents, select Maintain Statement Contents,
page 13-4.
•
To copy statement contents, select Copy Statement Content, page 13-10.
•
To remove statement contents, select Delete Statement Content, page
13-11.
Select OK to display the appropriate screen.
OK
Start the selected process.
Close
Return to the Main Menu.
Management Reports Setup
Maintain Statement Contents
¼Management Reports Setup ¼ Define Statement Contents
¼ Maintain Statement Contents
Overview
Use this selection to add a new statement content format or to change an
existing setup.
Your General Ledger comes with a variety of statement content
formats already set up.
HINT: This process may seem overwhelming as you start. For most
businesses, use the sample formats that come with your
system. If you find you need to change statement contents, use
an existing format and copy it to a new content ID; make
changes under the new name. This protects existing content
formats and gives you something to start with.
Management Reports Setup
13-3
Screen options
1.
ID — Enter a new content ID (up to 10 characters) or select an existing
ID. If you enter an existing ID, the applicable information is displayed.
2.
Name — Enter the name of this content format, up to 25 characters.
3.
Use Account Structure for Company ID — Select the ID of the
company whose account structure you are using for the content.
4.
Seq No — The print order of the statement content is displayed in
increments of ten (10, 20, 30, etc.). For a new line, enter a sequence
number between the number above and below it. When you click the
Resequence button they are renumbered and once again sequenced by
ten.
5.
Type — Select the row type. Possible entries are listed below.
AD
AS
BB
BD
BS
CL
CR
ED
ES
T1
T2
13-4
Account Detail
Account Summary
Beginning Balance of Year
Beginning Balance Detail
Beginning Balance Summary
Shift Columns Left
Shift Columns Right
End Balance Detail
End Balance Summary
Total 1
Total 2
T3
T4
T5
T6
T7
T8
T9
US
UD
HC
HP
Total 3
Total 4
Total 5
Total 6
Total 7
Total 8
Total 9
Single Underline
Double Underline
Center Heading
Print Heading
6.
Description — Enter the description that will be printed on the
selected row. Not all rows require descriptions.
7.
Criteria — If applicable, select the row criteria. This entry determines
the type of information to be considered for the calculations. Possible
entries are:
Seg1-3
Segments 1 through 3, depending on the number of
account segments you use.
Type
Account type
Class
Account class
Acct
Select the range of account IDs
Management Reports Setup
8.
9.
From / To — Select the range of values, depending on the selected
criteria:
•
If you selected Account, the available range is account IDs sorted
by segments. For example, 1000-200-10 to 3000-200-10 selects
account IDs where segment 1 is between 1000 and 3000, segment 2
is 200 and segment 3 is 10.
•
If you selected Account Type, the available range is account type
IDs.
•
If you selected Account Class, the available range is account
classes.
•
If you selected a segment (1-3), the available range is the account
segment's IDs.
Action on Totals 1-9 — Select the result of the row on the total
accumulators:
+
0
Blank
if the row increases the total
if the row decreases the total
if the row zeros out the total
if the row has no effect on the total
10. Click on the appropriate command buttons as you develop the report
to save your
contents. When you are finished, close the screen
changes and return to the Statement Contents screen (page 13-2).
Command
buttons
Add New Line
Add a new line.
Insert Line
Insert a line.
Edit Line
Edit the selected line.
Delete Line
Remove the selected line.
Resequence
Renumber the lines by tens.
Management Reports Setup
13-5
Detail Entry /
Summary Entry
13-6
Management Reports Setup
This toggle button allows you to move back and
forth between the Detail Entry and Summary Entry
options. For example, if you are in Detail Entry
mode, the Summary Entry button is displayed.
Click on it to change to the Summary Entry mode.
•
If the screen is set for Detail Entry and you
select Add New Line or Insert Line, the Add
New/Insert/Edit (page 13-7) dialog box appears.
•
If the screen is set for Summary Entry and you
select Add New Line, the cursor is positioned
in an empty line at the end of the rows
Add New/Insert/Edit
¼ Management Reports Setup ¼ Define Statement Contents
¼ Maintain Statement Contents ¼ Add New/Insert/Edit
Screen options
1.
ID — Enter a new content ID (up to 10 characters) or select an
existing ID. If you enter an existing ID, the applicable information is
displayed.
2.
Seq No — The print order of the statement content is displayed in
increments of ten (10, 20, 30, etc.). For a new line, enter a sequence
number between the numbers above and below it. When you click the
Resequence button on the Maintain Statements Contents screen they
are renumbered and once again resequenced by ten.
3.
Type — Select the row type:
AD
AS
BB
BD
BS
CL
CR
ED
Account Detail
Account Summary
Beginning Balance of Year
Beginning Balance Detail
Beginning Balance Summary
Shift Columns Left
Shift Columns Right
End Balance Detail
T3
T4
T5
T6
T7
T8
T9
US
Total 3
Total 4
Total 5
Total 6
Total 7
Total 8
Total 9
Single Underline
Management Reports Setup
13-7
ES
T1
T2
13-8
End Balance Summary
Total 1
Total 2
UD Double Underline
HC Center Heading
HP Print Heading
4.
Description — Enter the description to be printed on the selected
row. Not all rows require descriptions.
5.
Criteria — Select the row requirements. Possible entries are
Seg1-3
Segments 1 through 3, depending on the number of
account segments you use.
Type
Account type
Class
Account class
Acct
Select the range of account IDs, depending on
selected criteria.
6.
From / To — Select the range of values, depending on the selected
criteria:
• If you selected account, the available range is account IDs
sorted by segments. For example, 1000-200-10 to 3000-200-10
selects account IDs where segment 1 is between 1000 and 3000,
segment 2 is 200 and segment 3 is 10.
• If you selected account type, the available range is account
type IDs.
• If you selected account class, the available range is account
classes.
• If you selected a segment (1-3), the available range is
account segment IDs.
7.
Print Debit, Credit or Both — Select Debit to print only debits,
Credit to print only credits, or Both to print debits and credits.
8.
Company ID — Select the check box to choose the ID of the
company whose balances you want to put on this line.
9.
Description Tab — If you want to indent the row, enter the number
of spaces you want it indented. If you do not want to indent the row,
enter 0 or leave the field blank.
Management Reports Setup
10. # of Chars to Shift — Enter the number of characters to shift the
row left or right when the row type is CL or CR.
This entry shifts numbers only. It does not shift the account ID or
description. Columns are shifted only if the statement allows it.
11. Extra Blank Lines — To print blank lines after the row, enter the
number of blank lines. If you do not want a blank line, enter 0 or leave
the field blank.
12. Print Row — If you want to print the row, select the check box.
13. Reverse Sign to Print — Normally a negative sign (-) is printed
for all credit balances, regardless of whether the account is a debit or a
credit account.
Select the check box if the accounts on this row are normally credit
accounts, so that the debit balances show a negative sign. If this row
holds debit balances, clear the check box.
Select the check box if you want to print dollar signs.
14. Page Break After — Select the check box if you want a page break
after the row is printed.
15. Action on Totals 1-9 — Select the result of the row on the total
accumulators:
+
if the row increases the total
if the row decreases the total
0
if the row zeros out the total
Blank
if the row has no effect on the total
16. Click on the appropriate command buttons. When you are finished,
to save your changes and return to the Maintain
close the screen
Statement Contents screen, page 13-4.
Command
buttons
OK
Save your changes.
Cancel
Ignore your changes and return to the Maintain Statement Contents
screen.
Close
Save your changes and return to the Maintain Statement Contents
screen.
Management Reports Setup
13-9
Copy Statement Content
¼ Management Reports Setup ¼ Define Statement Contents
¼ Copy Statement Content
Screen Options
13-10
1.
Statement Content ID From — Select the statement content ID
to copy.
2.
To — Select or enter a new ID to copy the statement content to. You
can copy over an existing statement ID.
3.
Resequence? — Select the check box if you want the copy
resequenced by tens; clear the box if you want the same sequence
numbers.
4.
Select Copy to copy one statement content to another.
5.
Select Close to return to the Define Statement Contents screen, page 132.
Management Reports Setup
Delete Statement Content
¼ Management Reports Setup ¼ Define Statement Contents
¼ Delete Statement Contents
Screen options
1.
Delete Statement Content ID — Select the statement content ID
you want to remove. You cannot delete a statement content that is
being used in a statement.
2.
Select Delete to remove the selected statement content ID. A
confirmation box is displayed.
3.
Select Close to return to the Define Statement Contents screen, page
13-2.
Management Reports Setup
13-11
Build Statements
¼ Management Reports Setup ¼ Build Statements
Use this selection to build financial statement templates, specifying the
contents of financial statements.
Overview
Whenever you change the contents of a financial statement, it
must be rebuilt.
After adding to or changing statement IDs, print the Statement Definitions
List, page 14-17.
Screen options
1.
2.
Command
buttons
13-12
z
To add or edit a statement format, select Maintain Statement,
page 13-13.
•
To copy a statement format, select Copy Statement, page 13-16.
•
To remove a statement format, select Delete Statement, page 13-17.
Select OK to display the appropriate screen.
OK
Start the selected process.
Close
Return to the Main Menu.
Management Reports Setup
Maintain Statement
¼ Management Reports Setup ¼ Build Statements ¼ Maintain Statement
Overview
Use this selection to add new or change existing financial statements.
Screen options
1.
Statement ID — Select the ID of the statement you are changing or
enter a new statement ID, up to 10 characters. If you enter an existing
statement ID, information about the statement setup appears.
2.
Name — For new statements, enter the name of the statement; for
existing statements, the name is displayed. You can accept the name or
change it.
3.
Content ID — Select the content ID for the statement. Content ID’s
define what rows print on the statement.
4.
Layout ID — Select a layout ID for the statement. Layout ID’s define
what type of information prints in the columns on the statement.
Management Reports Setup
13-13
5.
Heading 1-4 — Enter the title for the statement. See Print-time Inserts
(page 13-15) for information about inserting current data into headings;
for example, printing the period beginning and ending dates.
6.
Footer 1-4 — Enter footers for the statement. See Print-time Inserts
(page 13-15) for information about inserting current data into footers;
for example, printing the period beginning and ending dates.
7.
No. of lines after heading / after footer — Enter the number of
blank lines after the heading and footer. Typical entries would be 3
blank lines after the header and 0 blank lines after the footer.
8.
Page No — Select the check box to print page numbers.
9.
Allow Shift — Select the check box to allow shifting column statement
contents. This makes it possible, for example, to print detail amounts in
column two and totals in column three (shifting to column three). To
see a specific example of this refer to the Current Year Balance Sheet.
10. Print-time Inserts — The print time inserts (page 13-15) are
displayed.
11. Paper Size — Select the paper size. Options are 8½ x 11 inches, 8½ x
14 inches or 8½ x 22 inches.
12. Orientation — Select portrait or landscape orientation for the report.
(Portrait is the standard vertical layout; landscape is horizontal.)
Command
buttons
13-14
Build
Construct the statement by combining Content ID (rows), Layout ID
(columns), and remaining entries specified in screen options.
Close
Save your changes and return to the Build Statements screens
(page 13-12).
Management Reports Setup
Print-time
inserts
If you want the heading or footer to change each time you print the report, you
can either change the heading or footer each time you use Build Statements or
you can use print-time inserts (codes) to have the system change the heading or
footer when the report is printed..
Example: Enter *CONA on one of the heading lines for all your statements.
The full company name as set up in the System Manager will be printed in
place of *CONA on the line.
The table below lists the available print-time inserts.
Insert
Prints
Example
*PBDN
Period Beginning Date — Numeric
11/01/99
*PBDW
Period Beginning Date — Words
NOV 1, 1999
*Pbdw
Period Beginning Date — Words
Nov 1, 1999
*PBDM
Period Beginning Date — Military
1 NOV 1999
*Pbdm
Period Beginning Date — Military
1 Nov 1999
*PBDF
Period Beginning Date — Full Name
NOVEMBER 1, 1999
*Pbdf
Period Beginning Date — Full Name
November 1, 1999
*PEDN
Period Ending Date — Numbers
11/30/99
*PEDW
Period Ending Date — Words
NOV 30, 1999
*Pedw
Period Ending Date — Words
Nov 30, 1999
*PEDM
Period Ending Date — Military
30 NOV 1999
*Pedm
Period Ending Date — Military
30 Nov 1999
*PEDF
Period Ending Date — Full Name
NOVEMBER 30, 1999
*Pedf
Period Ending Date — Full Name
November 30, 1999
*PERN
Period Number
11
*PRGN
Period Range — Numeric
01/01/99 - 12/31/99
*PRGW
Period Range — Words
JAN 1, 1999 - DEC 31, 1999
*Prgw
Period Range — Words
Jan 1, 1999 - Dec 31, 1999
*PRGM
Period Range — Military
1 JAN 1999 - 31 DEC 1999
*Prgm
Period Range — Military
1 Jan 1999 - 31 Dec 1999
*PRGF
Period Range — Full
JANUARY 1, 1999 - DECEMBER 31, 1999
*Prgf
Period Range — Full
January 1, 1999 - December 31, 1999
*COID
Three-character Company ID
SAM
*CONA
Company Name
Builders Supply
*SCID
Statement Content ID
IDBAL1
*Seg1
Segment 1 Range
Segment 1: 01 Hardware - 03 Labor
*Seg2
Segment 2 Range
Segment 2: 01 Hardware - 03 Labor
*Seg3
Segment 3 Range
Segment 3: 01 Hardware - 03 Labor
*Proj
Project Name
PROJTEST: Project Description
Management Reports Setup
13-15
Copy Statement
¼ Management Reports Setup ¼ Build Statement ¼ Copy Statement
Overview
Use this selection to copy the format from one statement to another. You can
then modify it in Maintain Statements, page 13-4.
Screen options
1.
Statement ID From — Select the ID of the statement you want to
copy.
2.
To — Select or enter a new ID to copy the statement to. You can
overwrite an existing statement format or set up a new statement ID.
3.
Select Copy to copy one statement to another.
4.
Select Close to return to the Build Statements screen, page 13-12.
13-16
Management Reports Setup
Delete Statement
¼ Management Reports Setup ¼ Build Statement ¼ Delete Statement
Overview
When you remove statements, only the heading, footer, and formatting
information of the statement are removed; the underlying layout and content
IDs remain. It is possible to rebuild a statement, but much easier if you make
sure you do not need it before you delete it.
You must delete statements that include statement layout or statement content
IDs before you can delete the statement layout or statement content IDs used
for those statements.
Screen options
1.
Delete Statement ID — Select the ID of the statement you want to
delete.
2.
Select Delete to remove the selected statement. A confirmation box is
displayed.
3.
Select Close to return to the Build Statements screen, page 13-12.
Management Reports Setup
13-17
Define Cash Flow Contents
¼ Management Reports Setup ¼ Define Cash Flow Contents
Overview
Use this selection to set up and maintain the contents of Cash Flow Reports.
You can specify account types for income, investing activities, financing
activities, cash and cash equivalents, and adjustments to reconcile net income
to net cash from operating activities.
When the contents are set up, print the Cash Flow Content List (page
14-19) to check your work.
A default Cash Flow Contents definition is pre-defined and covers all
account types. If you carefully assign the proper account type when
entering accounts in Chart of Accounts, you should not need to modify
the Cash Flow Report.
How to…
Add a cash flow statement
1.
Select the New Record icon
2.
Enter a new Cash Flow Content ID.
3.
Enter a description.
4.
Select a class.
5.
Select the first and last account types.
6.
Enter a description of the line.
from the toolbar.
Edit a cash flow statement
13-18
1.
Select the Cash Flow Content ID. Information about the ID appears.
2.
Edit the information. Use the command buttons to add and delete lines.
Management Reports Setup
Delete a cash flow statement
Screen options
1.
Select the Cash Flow Content ID.
2.
Press the F3 function key.
1.
Cash Flow Content ID — Select an existing ID or enter a new cash
flow content ID, up to 10 characters. If you select an existing ID,
information about that cash flow content appears.
2.
Description — Enter a description for the Cash Flow Report, up to 25
characters.
3.
Line — The sequence number of the line is displayed. Each time you
select the Recalculate command button, the lines are renumbered and
incremented by one (1, 2, 3, etc.)
4.
Class — Select the account class for the accounts you want included in
this section of the statement.
5.
Beg Acct Type / End Acct Type — Select the beginning and
ending account types. All accounts with matching Account Type Codes
will be included.
Management Reports Setup
13-19
6.
Description — Enter a description of this line of the Cash Flow
Report.
7.
Select the applicable command button(s). When you are finished close
the screen
8.
Command
buttons
13-20
to save your changes and return to the Main Menu
Print the Cash Flow Content List (page 14-19).
Options
Show or hide the command buttons.
Add New Line
Add a new line (to the bottom of the list).
Insert Line
Insert a line before the active line.
Delete Line
Remove the selected line.
Resequence
Renumber the lines by ones.
Management Reports Setup
Build Report Queues
¼ Management Reports Setup ¼ Build Report Queues
Overview
Use this selection to select multiple reports that can be printed with a single
selection when you select Financial Statements (page 8-9) from the
Management Reports Menu.
For example, you can set up end-of-month financial reports, add them to a
queue, and then select the queue ID to print all of them at one time.
After the queues are set up print a Report Queues List, page 14-21.
Screen options
1.
z
•
•
•
To add or edit queues, select Maintain Queues, page 13-22.
To copy queues, select Copy Queues, page 13-26.
To remove queues, select Delete Queues, page 13-27.
To pretest queues, select Pretest Queues, page 13-28.
2. Select OK to display the appropriate screen.
Command
buttons
OK
Start the selected process.
Close
Return to the Main Menu.
Management Reports Setup
13-21
Maintain Queues
¼ Management Reports Setup ¼ Build Report Queues ¼ Maintain Queues
Overview
Use this selection to change reports in a queue, to add new reports, to
reorganize the printing order of queued reports or to remove reports from a
queue.
Screen options
1.
Queue ID — Select or enter the queue ID. If you enter an existing
queue ID, its setup information appears.
2.
Description — Enter the name of the queue.
3.
Seq No. — The print order of the reports is displayed in increments of
ten (10, 20, 30, etc.). For a new line, enter a sequence number between
the numbers above and below it. When you click the Resequence button
they are renumbered and once again resequenced by ten.
4.
Statement ID — Select the statement ID of the desired report.
13-22
Management Reports Setup
Command
buttons
5.
Statement Name — The statement name is displayed.
6.
Content ID / Layout ID — The content and layout IDs for the
selected report are displayed.
7.
to save your changes and
When you are finished, close the screen
return to the Build Report Queues screen, page 13-21.
Add New Line
Add a new report to the end of the queue.
Insert Line
Insert a line, above the cursor, so you can add a new
report to the queue.
Edit Line
Make changes to the selected line.
Delete Line
Remove the selected line.
Resequence
Renumber the lines by tens.
Detail Entry /
Summary Entry
This toggle button allows you to move back
and forth between the Detail Entry and Summary
Entry options. For example, if you are in Detail Entry
mode, the Summary Entry button is displayed. Click
on it to change to the Summary Entry mode.
•
If the screen is set for Detail Entry and you select
Add New Line, Insert Line, or Edit Line, the
Add/Insert/Edit Dialog Box is displayed. Use it
to make changes to a queue.
•
If the screen is set for Summary Entry and you
select Add New Line or Insert Line, the cursor is
positioned in an empty line at the end of the lineitem entry list.
Management Reports Setup
13-23
Add/Insert/Edit Dialog Box
¼ Management Reports Setup ¼ Build Report Queues ¼Maintain Queues
¼ Add/Insert/Edit Dialog Box
Use this dialog to modify detailed queue information. This information is then
displayed as the default on the Financial Statements screen when the Queue ID
is selected.
Overview
If you specify a period, or beginning and ending dates, on this
screen, when you run the queue it will always print reports for
the entered period. Normally, you will want to leave the period
blank here and select the period at the time you run the queue.
Screen options
13-24
1.
Queue ID — The queue ID is displayed.
2.
Statement ID — Select the statement ID for the queue.
3.
GL Period — Enter the period for the financial statement. The
statement covers the entire year, up to the selected period.
Management Reports Setup
4.
Beginning Date / Ending Date — The period beginning and ending
dates re automatically set based on the GL Period that is selected. (This
information can be printed on the report title or footer, depending on
your report setup).
5.
Account Sort — Enter the number of the account segment to sort by.
For example, to sort first by segment 3, then by segment 2, then by
segment 1, enter 321.
6.
Account Detail — If you want to include account detail, select the
check box; otherwise, the detail is summarized in the main account.
7.
Accounts with Zero Balances — Select the check box to include
accounts with zero balances.
8.
Workstation Date and Time — Select the check box to include the
workstation date and time.
9.
Select the range of account segments to include in the financial
statement.
10. Select the appropriate command button. If you select Cancel or Close
you are returned to the Maintain Queues screen (page 13-22).
Command
buttons
OK
Save your changes.
Close
Save your changes and return to Maintain Queues
Cancel
Ignore your changes and return to Maintain Queues.
Management Reports Setup
13-25
Copy Queues
¼ Management Reports Setup ¼ Build Report Queues ¼ Copy Queues
Overview
Use this selection to copy the contents of one queue to another.
Screen options
1.
Queue ID From— Select the ID of the queue you want to copy.
2.
Queue ID To — Select an existing ID or enter a new ID to copy the
queue to. You can copy over an existing queue ID.
3.
Select Copy to copy one queue to another.
4.
Select Close to return to the Build Report Queues screen, page 13-21.
13-26
Management Reports Setup
Delete Queues
¼ Management Reports Setup ¼ Build Report Queues ¼ Delete Queues
Overview
Use this selection to remove a queue.
Screen options
1.
Delete Queue ID — Select the ID of the queue you want to remove.
2.
Select Delete to remove the selected queue. A confirmation box is
displayed.
3.
Select Close to return to the Queues screen.
Management Reports Setup
13-27
Pretest Queues
¼ Management Reports Setup ¼ Build Report Queues ¼ Pretest Queues
Overview
Test queues to make sure the statements are correctly set up. This selection
simulates Build Statements (page 13-12), but instead of producing the
statements, it produces a Queue Error List, if problems are found.
Screen options
1.
Queue ID — Select the ID of the queue to test.
2.
GL Period — Enter or select the period for which to test the record.
3.
Select OK to begin testing the queue. When the process is complete, a
confirmation box is displayed.
4.
Select Close to return to the Build Report Queues screen (page 13-21).
If no errors are found, the Build Report Queues screen is displayed. If
errors are found, they are displayed on the screen.
13-28
Management Reports Setup
Chapter Fourteen — Setup and Maintenance Lists
This section explains how to print lists of the items defined
in the Setup and Maintenance and the Management Report
Setup menu selections.
Contents
Account Classes List ................................................................
Account Types List ...................................................................
Account Segments/Profit Centers List.......................................
Chart of Accounts List ..............................................................
Account Autosplits List .............................................................
Recurring Transactions List ......................................................
Statement Contents List ...........................................................
Statement Definitions List.........................................................
Cash Flow Contents List...........................................................
Report Queues List ..................................................................
Setup and Maintenance Lists
14- 2
14- 4
14- 6
14- 8
14-11
14-13
14-15
14-17
14-19
14-21
14-1
Account Classes List
Setup and Maintenance Lists Account Classes List
Overview
Use this selection to list your account classes, set up in Account Classes (page
12-7).
Screen options
1.
Acct Class ID From / To — Select a range of account classes to
include in the list.
When you do not want to limit your report to a specific range, leave
the From/To fields blank.
2.
14-2
Select one of the report command buttons explained on page 8-2.
Setup and Maintenance Lists
Sample Account Classes List
Setup and Maintenance Lists
14-3
Account Types List
Setup and Maintenance Lists Account Types List
Overview
Use this report to show the account types you defined in Account Types on the
Setup and Maintenance Menu (page 12-8).
Screen options
1.
Account Type ID From / To — Select the range of account types you
want listed.
When you do not want to limit your report to a specific range, leave
the From/To fields blank.
14-4
2.
Account Class ID From / To — Select the range of class types you
want included on the list.
3.
Balance Type — Select the types of balances you want included in the
list. Possible entries are Credit balances, Debit balances, and/or Memo
balances.
4.
Select one of the report command buttons. For explanations of the report
command buttons see page 8-2.
Setup and Maintenance Lists
Sample Account Types List
Setup and Maintenance Lists
14-5
Account Segments/Profit Centers List
Setup and Maintenance Lists Account Segments/Profit Centers List
Overview
This report shows the account segments defined in Account Segments/Profit
Centers on page 12-10. It lets you list each segment defined in your Chart of
Accounts.
Screen options
1.
Segment (1 - 3) — Select the check box for each of the account
segments you want listed.
2.
Select one of the report command buttons. For explanations of the report
command buttons see page 8-2.
14-6
Setup and Maintenance Lists
Sample Account Segments/Profit Centers List
Setup and Maintenance Lists
14-7
Chart of Accounts List
Setup and Maintenance Lists Chart of Accounts List
Overview
This list shows a company's accounts as set up in Chart of Accounts on the
Setup and Maintenance Menu. Check the list to make sure you entered all the
accounts or use it as a reference when you set up recurring transactions and
during transaction entry.
Before year-end closing, print this list (include Clear to Account/Steps) to
make sure the correct clear to accounts are assigned.
If the General Ledger is interfaced with another application, make sure the
other application's account numbers in the tables and records that affect the
General Ledger match the proper accounts in the ledger. If they do not match,
journal entries from other applications will not post correctly.
If the accounts are not listed in the expected order, see step three on the next
page. You might not have set up the account numbers correctly, the account
structure might be wrong, or you might have entered the wrong sort criteria.
14-8
Setup and Maintenance Lists
Screen options
1.
Account From / To — Select the range of accounts you want listed.
When you do not want to limit your report to a specific range, leave
the From/To fields blank.
2.
Print Clear-to Accounts — If you want to list clear-to information,
check the box. This information is set up in Chart of Accounts on the
Setup and Maintenance Menu, page 12-12.
3.
Account Sort — Enter the number of the account segment to sort by.
For example, to sort first by segment 3, then by segment 2, then by
segment 1, enter 321.
4.
Headings — Enter the title you want shown on this report. You can
enter one to four lines of text, up to 30 characters each.
5.
Select one of the report command buttons. For explanations of the report
command buttons see page 8-2.
Setup and Maintenance Lists
14-9
Sample Chart of Accounts List
14-10
Setup and Maintenance Lists
Account Autosplits List
Setup and Maintenance Lists Account Autosplits List
Overview
Use this selection to list the autosplit records set up in Account Autosplits on
the Setup and Maintenance Menu (page 12-16).
Use the Account Autosplits List to make sure everything is correct and as a
reference during transaction entry.
Print a new list each time you add or change autosplit records.
Screen options
1.
Account From / To — Select the range of accounts you want
included.
When you do not want to limit your report to a specific range, leave
the From/To fields blank.
2.
Select one of the report command buttons. For explanations of the report
command buttons see page 8-2.
Setup and Maintenance Lists
14-11
Sample Account Autosplits List
14-12
Setup and Maintenance Lists
Recurring Transactions List
Setup and Maintenance Lists Recurring Transactions List
Overview
This report shows the transactions set up in Recurring Transactions on the
Setup and Maintenance Menu (page 12-18).
Use the Recurring Transactions List as a reference when you copy recurring
transactions to the Transaction Journal.
Produce a new list each time you add or change recurring transactions.
Screen options
1.
Recurring ID From / To — Select the range of recurring IDs you
want listed.
When you do not want to limit your report to a specific range, leave
the From/To fields blank.
2.
Sort By — Select the sort method. You can sort by Recurring ID or
Reference.
3.
Select one of the report command buttons. For explanations of the report
command buttons see page 8-2.
Setup and Maintenance Lists
14-13
Sample Recurring Transactions List
14-14
Setup and Maintenance Lists
Statement Contents List
Setup and Maintenance Lists Statement Contents List
Overview
This list shows the statement contents you defined in Define Statement
Contents (page 13-2) on the Management Report Setup Menu.
Print it each time you add to or change your statement contents.
Screen options
1.
Content ID From / To — Select the range of statement content IDs
you want listed.
When you do not want to limit your report to a specific range, leave
the From/To fields blank.
2.
Select one of the report command buttons, explained on page 8-2.
3.
See the sample Statement Contents List on page 14-16.
Setup and Maintenance Lists
14-15
Sample Statement Contents List
14-16
Setup and Maintenance Lists
Statement Definitions List
Setup and Maintenance Lists Statement Definitions List
Overview
This report shows a list of the statements you defined in Build Statements
(page 13-12) on the Management Reports Setup Menu.
Screen options
1.
Statement ID From / To — Select the range of statement IDs you
want listed.
When you do not want to limit your report to a specific range, leave
the From/To fields blank.
2.
Select one of the report command buttons, explained on page 8-2.
Setup and Maintenance Lists
14-17
Sample Statement Definitions List
14-18
Setup and Maintenance Lists
Cash Flow Contents List
Setup and Maintenance Lists Cash Flow Contents List
Overview
This report shows the Cash Flow Report contents set up in Define Cash Flow
Contents on the Management Reports Setup Menu (page 13-18).
Use the list as a reference and to make sure the contents are correct.
Produce a new list each time you add or change the Cash Flow Report contents.
Screen options
1.
Cash Flow Content ID From / To — Select the range of cash flow
contents IDs you want listed.
When you do not want to limit your report to a specific range, leave
the From/To fields blank.
2.
Select one of the report command buttons, explained on page 8-2.
Setup and Maintenance Lists
14-19
Sample Cash Flow Contents List
14-20
Setup and Maintenance Lists
Report Queues List
Setup and Maintenance Lists Report Queues List
Overview
The Report Queues List shows the contents of a report queue.
Print the Report Queue List after setting up your report queues in Build Report
Queue on the Management Report Setup Menu (page 13-21) as a written
reminder of the reports that are printed for each queue ID.
Screen options
1.
Queue ID From / To — Select the range of queue IDs you want
listed.
When you do not want to limit your report to a specific range, leave
the From/To fields blank.
2.
Select one of the report command buttons, explained on page 8-2.
Setup and Maintenance Lists
14-21
Sample Report Queues List
14-22
Setup and Maintenance Lists
Chapter Fifteen — Basic Accounting Concepts
This chapter introduces double entry accounting, including
definitions of standard accounting terms with examples and
explanations of key financial statements.
Contents
Introduction..............................................................................
Key Accounting Terms and Concepts .......................................
Understanding and Using Double Entry Accounting ..................
Using Financial Statements in Decision Making ........................
Balance Sheet -- Example and Analysis ...........................
Income Statement -- Example and Analysis .....................
Combining the Income Statement and Balance
Sheet to Make Decisions..................................................
How You Can Learn More ........................................................
Chart - Relationships Between Debits, Credits and the Basic
Accounting Equation ................................................................
Basic Accounting Concepts
15- 2
15- 3
15- 9
15-12
15-12
15-13
15-14
15-15
15-16
15-1
Introduction
The Red Wing General Ledger is an easy-to-use double entry accounting
system. This supplement provides information to help anyone not familiar with
this form of record keeping. It also serves as an easily accessible reference tool
for all users of the General Ledger.
Terms and formats suitable to a computer-based double entry accounting
system are used. To avoid confusion, some of the material you would use to set
up a manual double entry accounting system is not included.
15-2
Basic Accounting Concepts
Key Accounting Terms and Concepts
Double Entry Accounting
Definition
A system of debits and credits used to track the value of all resources in a
business, amounts owed to others, owner's net worth, income and expenses.
When amounts are entered into a double entry system, the sum of the debits
always equals the sum of the credits, allowing you to keep very accurate
financial records and to keep the system in balance.
Example
$250.00 is paid to the electrician. The cash account is credited $250.00 and the
repairs account debited $250.00. Thus, the dollar value of the cash account (an
asset) decreases while the dollar value of the repair account (an expense)
increases. The debits remain equal to the credits.
Cash Basis System
Definition
Income and expenses are recorded when cash is either received or paid. It is a
very simple system to use, but does not always give a true value on the Balance
Sheet. Some businesses combine a cash-based system with an accrual basis
system to get the benefit of both.
The cash basis system is normally used to gain a short term tax advantage.
However, it does not necessarily give a true financial picture to management.
Example
Keith Smith did some repair service work for Mid-County Supply in 1999, but
was not paid until 2000. Because he has a cash-based system, he must wait to
record his income in 2000, the year after the work was performed. The
expenses incurred are taken care of in 1999. Thus, he will show a loss for the
work in 1999 and a profit in 2000. This may favorably affect his income taxes
in 1999, but hurt him in 2000.
Basic Accounting Concepts
15-3
Accrual Basis System
Definition
An accounting system that lets you record income when it is earned — whether
or not cash is received; and to record expenses when they are incurred —
whether or not cash is paid out. The alternative is a cash basis system or a
combination of both. Accrual-based systems use accounts receivable and
accounts payable accounts to track income and expenses.
Example
Keith Smith did some repair service work for Mid-County Supply in 1999, but
was not paid until 2000. Because he has an accrual-based system, he can record
his income in 1999, the year the work was performed. He does the same with
the expenses incurred, so he is able to match his income with the costs of
producing that income.
Debit
Definition
Traditionally, the left side of an account in double entry accounting. (In manual
accounting systems, when an account is debited, the information is entered on
the left side.) Debits (abbreviated "DR") always increase asset and expense
accounts and decrease liability, capital, and income accounts.
Example
Mid-County Supply receives $75.00 for the sale of some small tools. They must
debit their cash account $75.00, because increases in assets are always debited
to an asset account.
Credit
Definition
Traditionally, the right side of an account in double entry accounting. (In
manual accounting systems, when an account is credited, the information is
entered on the right side.) Credits (abbreviated "CR") always decrease asset and
expense accounts and increase liability, capital, and income accounts.
Example
Mid-County Supply spent $20.00 for miscellaneous supplies. They must credit
their cash account $20.00, because decreases in assets are always credited to an
asset account.
15-4
Basic Accounting Concepts
Asset
Definition
An item of value owned by a business. Assets are listed first on the Balance
Sheet. Their values can be based on either cost or market value. With cost basis,
all assets are recorded at original prices and must include depreciation. With
market basis, all assets are recorded at current market value.
Assets have traditionally fit into one of three categories: current,
intermediate (rarely used) and long term. Each is defined below:
Current Assets
Intermediate (Working)
Assets
Long Term (Fixed)
Assets
Cash or other resources
that can be turned into
cash within
approximately one year.
(Rarely used) Generally
considered long term assets.
Resources sold or used up
within 1 to 10 years.
Asset items permanent
to the business or
generally not sold.
Cannot be depreciated
Usually can be depreciated;
include some inventory items.
Examples:
Cash/checking account
Accounts receivable
Most items, except land
and buildings, can be
depreciated.
Examples:
Land and buildings
Vehicles
Office equipment/
computers
Liability
Definition
A debt or obligation owed to another company or individual. Liabilities are
listed below the assets and before the capital on the Balance Sheet.
Liabilities have traditionally fit into one of three categories: current,
intermediate, and long-term. Each is defined below:
Current Liabilities
Intermediate Liabilities
Debts that must be paid
within approximately one
year.
(Rarely used) Generally
considered long term
liabilities. Debts that must
be paid within
1 to 10 years.
Example: Accounts
payable
Long Term (Fixed)
Liabilities
Debts paid over a longer
period of time.
Example: Real estate
mortgage
Notes made to purchase
machinery or remodel or
construct buildings.
Basic Accounting Concepts
15-5
Capital (net worth) (owner’s equity)
Definition
What your business is worth; the difference between assets and liabilities. It is
frequently called "Net Worth" or "Owner's Equity." On a Balance Sheet it is
listed beneath the liabilities.
Example
Mid-County Supply sells all its assets for $253,000. It also pays off all debts
(liabilities), totaling $121,000. The capital (net worth) is the money remaining,
$132,000.
Income Accounts
Definition
Money earned as a result of operating the business is income. (All money
received is not income; for example, loan repayments.) All income is separated
into accounts and will appear on the Income Statement.
An increase in an income account is a credit to that account.
In double entry accounting when an income account is credited, the cash or
accounts receivable account is usually debited.
Example
Mid-County Supply receives income from hardware and appliance sales.
Money earned by Mid-County Supply for their repair work is also income. If
Mid-County receives a $350 check for a dishwasher repair, they credit the
repair income account and debit the cash account.
Expense Accounts
Definition
The costs of operating a business are called expenses. All expenses are
categorized by accounts and will appear on the Income Statement.
An increase in an expense account is a debit to that account.
In double entry accounting when an expense account is debited, usually the
cash or accounts payable account is credited.
Some expense accounts are utilities, labor, depreciation, etc.
Example
15-6
Mid-County Supply writes a check to the electric company for $175.00. They
debit the utility expense account and credit the cash account.
Basic Accounting Concepts
Income Statement
Definition
A key report showing the financial progress of a business over a period of time
in terms of net income or loss. The period of time is most commonly a month,
a quarter, or a year.
Net income represents an increase in capital or owner's equity. Net loss
represents a decrease in capital or owner's equity.
Example
The basic format of an income statement is shown below:
Total Income:
$XXXX
Cost of Goods Sold
- XXXX
Gross Profit
$ XXX
Total Expenses
- XXX
Net Income (Loss)
$ XXX
See Income Statement — Analysis (page 15-13) for a more detailed example of
an income statement.
Balance Sheet
Definition
A financial report summarizing the values of the assets, the liabilities, and the
capital (net worth) of a business at a particular point in time. In fact, the
balance sheet must satisfy the basic accounting formula:
Assets = Liabilities + Capital
The assets (what is owned) are always listed first on the balance sheet, while
the liabilities and capital (who owns it) are listed last.
Example
The basic format of a balance sheet is shown below:
Assets
$
$
$
$$$$
Liabilities
$
$
$
$$$
Capital
$
$$$$
See Balance Sheet - Analysis on page 15-12 for a more detailed example of a
balance sheet.
Basic Accounting Concepts
15-7
Profit Centers (Enterprises)
Definition
Distinct income earning portions of your business. Profit centers allow you to
determine which portion is making the most money and/or giving the highest
rate of return on investment. They lend themselves to a computer-based system
where profit center reporting is greatly simplified.
Profit centers are frequently called "Enterprises."
Example
Several profit centers for Mid-County Supply could include:
• Retail Sales
• Equipment Rental
• Repair Service
Chart of Accounts
Definition
A listing of each account category with its name and number. Accounts should
be organized numerically in the order they appear on the financial statements.
Thus, asset accounts have the lowest numbers, followed by liabilities, capital
(net worth), income, and expense accounts, in that order.
The numbers serve as a code to identify each account. A wide enough range of
numbers must be provided to allow adding new accounts between existing
accounts. A chart of accounts can be very detailed or very general.
Example
Below is a simplified chart of accounts for Mid-County Supply.
Type of Account
(Current Assets)
(Long-Term Assets)
(Current Liabilities)
(Long-Term Liabilities)
(Capital)
(Income Accounts)
(Expense Accounts)
15-8
Basic Accounting Concepts
Account Name
Checking
Petty Cash
Building
Black & Decker
J.P. Tool Company
Real Estate Mortgage
Owner's Net Worth
Retail Sales
Repair Service
Rental Income
Supplies
Interest
Labor
Acct. #
1010
1210
1810
2010
2020
2310
2990
3010
3020
3030
5020
5030
5040
Understanding and Using Double
Entry Accounting
Why use
double entry
accounting
Double entry accounting is a system where financial information is entered
both as a credit and as a debit. It has the following advantages:
1.
It tracks Balance Sheet items (asset, liabilities, and change in capital)
as well as Income Statement items (income and expenses). You have
more complete data on which to base your management decisions.
Profitability can be measured both in terms of net income and change
in net worth (capital).
2.
It follows Generally Accepted Accounting Principles (GAAP) used by
professional accountants.
3.
The debit/credit system provides a built-in accuracy check of entries
into the system.
4.
You can record non-cash transactions effectively.
5.
You can use cash basis, accrual basis, or a combination of the two.
6.
Financial institutions are comfortable with it.
Creating a
chart of
accounts
The chart of accounts separates your financial data into meaningful categories.
For example, it is difficult to work with your assets as a whole on a day-to-day
basis. It is much easier if they are broken into components such as cash, accounts
receivable, buildings, inventory, etc. Thus, you need to separate all components
of the Balance Sheet into categories for the chart of accounts.
The Balance
Sheet
The first step is to provide the following information about your business:
1.
The value of resources (cash, machinery, etc.) the business owns. These
are your assets.
Basic Accounting Concepts
15-9
2.
3.
The amount of loans or debts the business owes to other companies an d
individuals. These are your liabilities.
The net worth of the business. This is your capital.
By subtracting the liabilities from the assets you can determine your capital (net
worth). Next, prepare a Balance Sheet from this information, giving you a
starting point for your double entry record keeping.
Basic Accounting Equation:
Enter
beginning
balances into
your system
Assets = Liabilities + Capital
Before using your double entry accounting system for day-to-day operations, you
must enter beginning balances into the General Ledger. These are called
"opening entries." Go back to the Balance Sheet information and determine
dollar values for each account set up on the chart of accounts. You will NOT
have income or expense items to enter at this time.
Enter these amounts, along with the start date of your accounting system, and the
account number from the chart of accounts. You need to know whether each
entry is a debit or a credit. This is called their normal account balance.
REMINDER! In double entry accounting a debit does not always
increase an account, nor does a credit always decrease an
account!
15-10
Basic Accounting Concepts
Your double
entry
accounting
system is ready
to go
You are now ready to start using the Red Wing General Ledger as a part of your
normal record keeping routine. Here are a couple of reminders:
•
Each transaction (or batch of transactions) requires at least two entries
— a credit entry and a debit entry — so the system is in balance at any
time.
•
Each entry must be dated and assigned an account number from the
chart of accounts.
The chart below will help you understand when transactions are entered as debits
or credits.
Debit...
Credit...
Asset Accounts
If they increase
If they decrease
Liability Accounts
If they decrease
If they increase
Capital Accounts
If they decrease
If they increase
Income Accounts
If they decrease
If they increase
Expense Accounts
If they increase
If they decrease
Withdrawals
If they are taken
by the owner
If the account has
$ value added
Normal Account Balances
Assets
Liabilities
Capital
Income
Expense
Debit
Credit
Credit
Credit
Debit
Feel free to photocopy this page, and also the chart on page 15-16, to
serve as a visual aide when entering transactions into your General
Ledger.
Basic Accounting Concepts
15-11
Using Financial Statements in
Decision Making
The two primary financial statements are the Balance Sheet and the Income
Statement. This section introduces you to some simple financial analysis using
these statements.
Introduction
Balance Sheet — Example and Analysis (page 15-12)
Income Statement — Example and Analysis (page 15-13)
Combining the Income Statement and Balance Sheet to Make Decisions
(page 15-14)
Balance Sheet —
example and
analysis
Mid-County Supply
Balance Sheet
October 31, 1999
Assets
Current Assets:
Cash/Checking
71,900
Total Current Assets
Long-Term Assets
Buildings
200,000
Land
100,000
Total Long-Term Assets
Total Assets
Liabilities
Current Liabilities
Black & Decker, Inc.
9,000
J.P. Machine Company
35,000
Total Current Liabilities
Long-Term Liabilities
Real Estate Mortgage
130,000
Local Bank
60,000
Total Long-Term Liabilities
Total Liabilities
71,900
300,000
371,900
44,000
190,000
234,000
Capital
Mid-County Supply, Net Worth
Net Income
Total Capital
Total Liabilities and Capital
15-12
Basic Accounting Concepts
125,150
12,750
137,900
371,900
The balance sheet provides several key ratios. The most common of these are
the Working Capital Ratio and the Owner's Equity Ratio. You can also prepare
a comparative balance sheet comparing any fiscal periods. For example, the
Five Year Balance Sheet lets you compare varying aspects of your business for
the last five years.
Working Capital Ratio — This measures the ability to pay debts and is
calculated as follows:
Total Current Assets ÷ Total Current Liabilities
For example, the Mid-County Supply Working Capital Ratio is:
$71,900 divided by $44,000 = 1.63
The 1.63 ratio tells you Mid County Supply has $1.63 of current assets to pay
each dollar of current liability.
Owner's Equity Ratio — This measures the owner's investment compared to
the creditor's investment in the business:
Owner's Equity ÷ Total Liabilities
For example, Mid-County Supply's Owner's Equity Ratio is:
$137,900 divided by $234,000 = .59
This tells you Mid-County Supply has a smaller claim against the assets than
their creditors.
Income
Statement —
example and
analysis
The income statement shows information concerning the sources of revenue,
the costs and expenses associated with producing that revenue, and the net
income or loss made by the business over the fiscal period.
You can also look at individual expense amounts and get clues for how to
decrease expenses and increase your net income.
One common practice is to prepare a percentage analysis of the income and
expense items on the income statement. Divide each source of income by the
total income to determine each income source's share of the total income. Next,
divide each cost/expense by the total income to determine each cost/expense's
share of the total income. A percentage analysis has been performed on the
following income statement. The General Ledger system automatically
performs these operations if you select the Current Year Income Statement.
Income statements can also be compared from one fiscal period to another, or
from the actual to the forecast income statement.
Basic Accounting Concepts
15-13
A simple Income Statement is shown below:
Mid-County Supply
Income Statement
For the Month Ending October 31, 1999
Assets
Income:
Rental Income
Retail Sales
Total Income
Cost of Goods Sold:
Gross Profit
Expenses:
Office
Operations
Payroll
Total Expenses
$ 150
20,000
6,150
69%
31%
1,250
1%
0%
5%
6%
$12,750
63%
14,000
150
100
1,000
Net Income
Combining the
Income
Statement and
Balance Sheet to
make decisions
$20,150
1%
99%
100%
One important computation from the combined financial statements is the Rate
of Return on Investment. It is calculated:
Net Income ÷ Owner's Equity
For example, Mid-County Supply has the following Rate of Return on
Investment:
$34,900 divided by $137,900 = .253
This tells you Mid-County Supply has a return of 25.3 cents for every dollar
they have invested. This is a good ROI for most businesses.
15-14
Basic Accounting Concepts
How You Can Learn More
Overview
The Basic Accounting Concepts chapter has introduced key information for
using your double entry, computerized accounting system. Listed below are
suggestions to make the information more familiar and to expand your
knowledge.
1.
Learn from the experts! Take a Red Wing Business Systems' training
class on the General Ledger. These one or two day courses cover both
beginning and advanced use of the General Ledger. Contact Red Wing
Business Systems, P.O. Box 19, 491 Highway 19, Red Wing, MN
55066. Phone 1-800-732-9464, FAX 1-651-388-7950, or e-mail
[email protected].
2.
Follow the steps outlined in Getting Started (Chapter Two). From
"Planning and Installing Your Chart of Accounts" to "Entering
Transactions" this chapter explains in detail the steps you must take to
get your General Ledger up and running. Remember, it is best to start
out simply until you are more familiar with the system capabilities.
3.
Take an accounting class at a local community college. Many schools
offer classes for accounting beginners.
4.
Use an accountant to help you establish procedures unique to your own
operation.
5.
Participate in a Red Wing Customer Support plan. You will have
access to a toll-free 800 number and discounts on upgrades and
training.
Basic Accounting Concepts
15-15
Relationships Between Debits, Credits and the
Basic Accounting Equation
Assets = Liabilities + Capital
Assets
Debit
Liabilities
Credit
Debit
Credit
*Normal
Balance
*Normal
Balance
Capital
Debit
Expense Accounts
Debit
*Normal
Balance
Credit
Credit
*Normal
Balance
Income Accounts
Debit
Credit
*Normal
Balance
An up arrow () designates an increase.
A down arrow () designates a decrease.
*The normal balance of an account is always its increase side.
15-16
Basic Accounting Concepts
Appendix
The Appendix contains the glossary and information on how
to order checks and other forms for use with your Red Wing
Windows Accounting software.
Contents
How to Order Checks and Forms .............................................
How to Sign Up for Red Wing Customer Support ......................
Glossary ..................................................................................
Appendix
16-2
16-2
16-3
16-1
How to Order Checks and Forms
Red Wing recommends Red Wing Forms. They can supply preprinted and
universal forms and checks for both laser printers or continuous feed
printers. You can also order other business cards, stationery, envelopes, etc.
Use the order forms that came with your software or contact:
Red Wing Forms
P.O. Box 681
Tarrytown, NY 10591
Phone: 1-800-294-9695 or 1-914-592-8616
FAX: 1-914-592-1822
If you decide to order from a different forms supplier, make sure the
forms will work properly with your Red Wing system. To determine
this, print several forms/checks and have your forms supplier match
the printed samples with their forms.
How to Sign up for Red Wing Customer Support
Customer Support with Red Wing software means access to a team of
professional technicians who know Red Wing and know accounting and
financial management. They are ready to work alongside you as you get
started and to answer your questions all year long.
Red Wing offers two Support plans for Windows products. Both plans offer
an 800 toll free telephone number, discounts on new versions and training
seminars, and many other great benefits.
Gold Plus
Priority call back, assigned support specialist, phone
appointments and more.
Silver
One-hour guaranteed response time.
For more information call 1-800-732-9464.
16-2
Appendix
Glossary
account
A storage unit of financial data in accounting, usually grouping related
information under one account number.
account
categories
In standard accounting practice, divisions into which accounts of a business
are categorized—current assets, current liabilities, equity, income, expenses,
etc.
account code
Indicates whether the account is a debit, credit or memo account.
accounting period
Preset units of time in accounting used to track and report financial
information; generally monthly, quarterly or annually. For example, you
might want a report to include transactions entered for the month of January.
activity
The changes in account balances resulting from transactions (sales, purchases,
payments of wages, adjustments, and other journal entries) between the
business and one or more outside parties.
activity balance
The sum of all journal entries posted for a period.
amortization
Depreciation applied to intangible assets such as goodwill and leasehold
improvements.
assets
The resources (such as cash, investments, manufacturing materials, inventory,
buildings, leases, fixtures) owned by a business. Assets are entered as debits in
asset accounts.
audit trail
A detailed record of accounting activity used to account for the source of every
dollar in the accounts. Even though the most common types of accounting
errors are eliminated or greatly reduced when you use the General Ledger
system, you should always create an audit trail.
autosplit
Process by which the General Ledger automatically splits an expense entry
among several profit centers or other expense accounts. For example, an
overhead expense, such as utilities, can be entered to account number
6370-00 and automatically split to account numbers 6730-01, 6730-02,
6735-01 and 6735-02.
Appendix
16-3
back up
To make a copy of data for archival purposes and to protect important data
from computer or program malfunctions or "crashes." For example, back up a
history file before deleting history so that you can retrieve the data, if
necessary. It is important to set up a regular routine of making backups.
balance
The difference between the total debit entries and the total credit entries for an
account.
capital
Claims on a company’s assets by the owners; either the capital put up by the
owners or the income earned by the business and not distributed (retained
earnings).
class code
A code used to sort information for reports. In the General Ledger it is the
general category an account type fits into; for example, long-term asset,
current asset, or long-term liability. This information is used to simplify
financial statement setup.
close
The transfer of the balances from income and expense accounts to an equity
account at the end of the fiscal year (or quarter) to clear the accounts for the
next year’s entries.
company
In Red Wing, a business record associated with its own files, tables, and menu
of applications. Companies are identified by three-character codes.
compound entry
A journal entry in which a debit is offset by more than one credit (or vice
versa).
conversion
The process of updating existing files, programs, or applications to the current
version. Compare to installation.
default
Defaults are system-supplied responses. You can change default responses
to fit your specific needs. They save you time by eliminating the need to
repeatedly retype the same information.
depreciation
Allocating the cost of using up fixed assets over time by allocating a portion
per accounting period.
distribution code
A code that indicates how amounts are to be distributed among general ledger
accounts.
dividends
The portion of the net income paid out directly to the stockholders as a return
on their capital investment.
16-4
Appendix
expenses
The costs incurred in earning the income: the cost of goods sold, wages,
rent, etc.
file
A collection of records stored under a particular name. Option screens often
represent files, but you do not directly see a file.
general ledger
A record of accounts in terms of a chart of accounts and accounting periods.
The General Ledger application tracks the effects on accounts from
transactions entered in General Ledger and interfaced applications. It is
updated by other applications interfaced with it.
income
The excess of revenues over expenses in an accounting period.
income summary
account
An account that holds the net income temporarily when closing the books,
before it is distributed to various equity accounts.
interface
To join to another application so that information entered in one application
updates information in another application’s files. For example, all Red Wing
Windows Accounting applications interface to the General Ledger.
inventory
The goods a business owns at a particular time, whether held for direct sale or
for use in manufacturing goods for future sale. Manufacturing inventory is
usually divided into raw material, work in process, and finished goods.
journal
A chronological record of transactions.
journal entries
Transactions recorded in a journal.
leverage ratios
Ratios used to determine how much the business is encumbered by its
liabilities: the ratio of debt (liabilities) to assets and of debt to equity.
liabilities
The claims of creditors upon the business’s resources (assets)—accounts,
salaries, taxes, and so on—payable to parties other than the owners.
liquidity ratios
Ratios that indicate the amount of cash that could be available for investment
after meeting short-term obligations. The current liquidity ratio is the ratio
of current assets to current liabilities. The quick ratio is the ratio of current
assets less inventory to current liabilities.
memo account
An account that stores various numbers you may need in calculations; for
example, the number of shares of stock outstanding or the number of days in
each month (for sales reports).
Appendix
16-5
post
To transfer information from one place to another, usually at the end of the
day or at a distinct break in business.
print-time Inserts
Codes used to change report headings and footers. See page 13-13 for a list.
profitability ratios
An indication of how much the net profit is in relation to the size of the
business. The net profit margin is the ratio of net profit to sales; the return
on assets and return on equity are the ratios of the profit to total assets and
to equity, respectively. The earnings per share show the dollar amount of
profit per share of stock.
queue
The placing of more than one item in an orderly line. In the General Ledger, a
queue is a lineup of reports to be printed, one after the other.
ratio analysis
A financial report you can use to assess aspects of financial performance.
There are activity, leverage, liquidity, and profitability ratios.
recurring
transactions
Transactions you enter regularly in the same amounts; for example,
depreciation. You can set up recurring transactions and copy them all at once
at the appropriate times.
retained earnings
Income earned by a company during the year, but not yet distributed as
dividends to the owners/stockholders. Retained earnings form part of the
equity of the business.
reversing entry
A journal entry you make to cancel a previous entry. It consists of an equal
credit to the account previously debited and a corresponding debit to the
account previously credited.
run code
A number that identifies the group a recurring transaction belongs to.
scaling
The process of decreasing dollar amounts to the nearest hundred or thousand
dollars, so that large values fit in less space (or are more significant).
source code
A code that identifies the source of a journal entry.
statement
contents
Records that control the contents of the statements and reports you print
through the Financial Statements selection on the Management Reports Menu.
statements
The standard financial statements (such as the balance sheet and the income
statement) you produce at the end of each accounting period, which detail the
company’s financial performance. You can also produce the Ratio Analysis
and other reports (such as sales reports).
16-6
Appendix
INDEX
A
Account length and format 12-4
Account activity report 7-5
Account autosplits 12-16
list 14-11
setup procedure 2-8
Account balances 12-25
recalculate 10-2
zero 10-3
Account budgets 12-21
Account classes 12-7
list 14-2
setup procedure 2-5
Account inquiry 7-14
Account segments/profit center 12-10
add new, practice 3-8
list 14-6
number of 12-5
set up procedure 2-6
Account structure 12-4
change 11-5
maximum length 12-6
number of segments 12-5
setup procedure 2-4
Account types 12-8
list 14-4
set up procedure 2-5
Accounting, basic equation 15-16
Accounts
add new 3-9, 12-12
assign names to 2-2
autosplits, set up 2-8, 12-16
balances 7-16, 12-25
budgets 12-21
change account numbers 11-4
chart of 12-12
chart of, setup procedure 2-7
clear to account 12-15
copy balances 10-7
copy chart of 10-9
delete, edit or correct 3-12, 12-13
list 14-8
naming conventions 2-3
sample charts of accounts 3-7, 10-12
separator characters 12-5
set up classes 2-5, 12-7
set up segments/profit centers 2-6, 12-10
set up structure 12-4
set up types 2-5, 12-8
setup procedure 2-4
validate segments 12-6
validating with DOS systems 6-8
view balance 7-16
view detail 7-14
Accounts payable, DOS interface 6-2
Accounts receivable, DOS interface 6-2
Accrual basis system 5-4, 15-4
Add
account 12-12
budget 12-21
recurring transactions 12-18
segment ID 12-10
Add/insert/edit
queues 13-24
statement contents 13-7
Adjusting transactions
print working trial balance 8-5
procedure at year-end 4-6
Allocate budget 12-23
Alternate quantity 5-6
ASCII input special option 11-7
Asset 15-4
Asset depreciation, DOS interface 6-2
Audit trail, transaction journal 7-2
Auto adjustment 5-11
Autosplits
how to add, change, remove 12-16
in edit transactions 5-20
in transaction entry 5-4, 5-7
list 14-11
setup procedure 2-8, 4-2
source code for 5-3
B
Backups
before DOS interface 6-2
schedule for 2-10
Balance sheet 15-7
examples 8-15 to 8-17
print - overview 8-9
select 8-10
Balances
account 12-25
copy account 10-7
normal 12-8, 15-11
recalculate 10-2
zero 10-3
Basic accounting equation 15-16
Beginning balances, set up 2-9, 4-2
in practice system 3-14
Index
1
Budgets
add, edit, delete 12-21
allocate 12-23
duplicate 12-23
last year $ 12-23
last year % 12-23
options 12-22
Budget/actual report 8-28
Build statements 13-12
C
Capital 15-6
Cash basis system 15-3
Cash flow contents
define 13-18
list 14-19
Cash flow report 8-20
add, edit, delete contents 13-18
define 13-18
delete 13-19
Change
account numbers 11-4
account structure 11-5
autosplit account 12-16
budget 12-21
current fiscal year 9-3
recurring transactions 12-18
Chart of accounts 12-12
add new accounts, practice 3-9
clear to account 12-15
copy 10-9
copy sample 10-12
create for DOS interface 6-8
defined 15-8
delete, edit or correct 3-7, 12-13
edit balances 12-15
list 14-8
sample 3-7, 10-12
setup procedure 2-7
warning 12-12
Check register 7-16
Classes, account 12-7
setup procedure 2-5
Close last year 9-2
Codes, naming conventions 2-3
Company, set up new 3-2
Consolidated statements 11-6
Copy
copy account balances 10-7
copy chart of accounts 10-9
queues 13-26
sample charts of accounts 10-12
statement 13-16
statement content 13-10
2
Index
Copy recurring transactions
correct mistakes in 5-16
directly, set up for 12-2
error listing 5-16
example 15-2
listing screen 5-17
overview 5-12
report 5-14
screen options 5-13
Create chart of accounts, DOS 6-8
Credit 15-4
Cue cards, how to use 3-2
Current fiscal year, change 9-3
Customer support 16-2
Customization 12-2
D
Date, change 3-14
Debit 15-4
Default account 5-9
Define statement contents 13-2
copy statement content 13-10
delete statement content 13-11
maintain statement contents 13-3
Distribution, using autosplits 12-16
DOS interface
create chart of accounts 6-8
edit accounts 6-5
edit periods 6-6
retrieve transactions 6-2
rules for 6-2
Double entry accounting 15-3
understanding and using 15-9
Drill-down to account detail 7-14
Duplicate budget 12-23
E
Edit transactions 5-18
options 5-21
out of balance 5-22
reference 5-19
source code 5-20
vs. reversing 5-18
End-of-period
change current fiscal year 9-3
close last year 9-2
End-of-year process 9-2
Enterprises 15-8
Expense accounts 15-6
Export reports 8-2, 8-4
F
K, L
Files
send report to 8-2
to back up before interface 6-2
Financial statements 8-9
before you print 8-9
examples 8-12
how to set up 4-5
prepare new data 8-11
printing on queues 8-9
using in decision making 15-12
Fiscal year, change 4-6, 9-15
Forced-balance password 12-3
Forecasts 12-21
Format characters 12-5
Forms, how to order 16-2
Last year $ budget 12-23
Last year % budget 12-23
Liability 15-5
Lists
account classes 14-2
account segments/profit center 14-6
account types 14-4
autosplits 14-11
cash flow contents 14-19
chart of accounts 14-8
recurring transactions 14-13
report queues 14-21
statement contents 14-15
statement definitions 14-17
G, H
General ledger
features 1-4
flexibility 1-2
how to get help 1-3
setup procedure 2-2
Glossary 16-3
Graphs 8-23
Help, how to get 1-3
Helpful procedures
enter beginning balances 4-2
how to change fiscal year 4-6
process transactions 4-4
set up autosplit accounts 4-2
setting up financial stmts. 4-5
year-end processing 4-6
I
IDs, naming conventions 2-3
Income accounts 15-6
Income statement
definition 15-7
examples 8-12 to 8-14, 8-19
overview 8-9
select 8-10
Indirect method, cash flow 8-20
Interface, DOS
create chart of accounts 6-8
edit accounts 6-5
edit periods 6-6
retrieve transactions 6-2
rules for 6-2
Invalid GL number message 7-10
Inventory, DOS interface 6-2
M
Maintain
queues 13-22
statement 13-13
statement contents 13-3
Management reports
budget/actual 8-28
build report queues 13-21
build statements 13-13
cash flow 8-20
define cash flow contents 13-18
define statement contents 13-2
financial statements 8-9
graphical report 8-23
trial balance 8-7
working trial balance 8-5
N, O
Naming conventions 2-3
Normal account balances 12-3,12-8
Opening entries, procedure for 2-9, 4-2
in practice system 3-14
Options
in edit transactions 5-21
in transaction entry 5-8
Out of balance
in edit transactions 5-22
transaction entry 5-10
P, Q
Password, forced-balance 12-3
Payroll, DOS interface 6-2
Period 0 (zero) 12-25
Index
3
Period 13, normal processing 12-2
Period balances 12-25
Post from DOS systems 6-2
Post transactions 7-8
how to 7-8
posting log 7-10
screen 7-9
Practice system 3-1
add new profit center 3-8
opening entries 3-14
print financial statements 3-19
set up new company 3-2
Preview report 8-2, 8-4
Print-time inserts 13-15
Profit centers 15-8
add new, practice 3-8
set up 2-6, 12-10
Project Cost
enter project information 5-7
interface 12-3
Quantities, enter 5-6
Queues
add/insert/edit 13-24
build 13-21
copy 13-26
delete 13-27
list 14-21
maintain 13-22
pretest 13-28
R
Ratios report 8-9, 8-18
Recalculate account balances 10-2
Recur ID 12-19
Recurring transactions 12-18
autosplit on/off 12-20
copy 5-12
display style 5-9
list 14-13
setup procedure 2-8
Reference
in edit transactions 5-19
in recurring transactions 12-19
in transaction entry 5-5
Remove
account 12-13
autosplit account 12-16
budget 12-21
queues 13-27
recurring transactions 12-19
statement 13-17
statement content 13-11
4
Index
Report queues
build 13-21
list 14-21
Reports
account activity 7-5
account autosplits list 14-11
account classes list 14-2
account types list 14-4
account segment/profit centers list 14-6
balance sheets 8-9
budget/actual 8-28
build report queues 13-21
build statements 13-12
cash flow 8-20
cash flow contents list 14-19
chart of accounts list 14-8
check register 7-16
command and toolbar buttons 8-2
copy recurring transactions 5-14
define cash flow contents 13-18
define statement contents 13-2
designer 11-3
financial statements 8-12
graphs 8-23
how to set up 4-5
posting log 7-10
practice system 3-19
ratio 8-9
recurring transaction errors 5-16
recurring transactions list 14-13
report queues list 14-21
statement contents list 14-15
statement definitions list 14-17
transaction journal 7-2
trial balance 8-7
working trial balance 8-5
Reset button 8-2
Retrieve transactions
posting limitations, rules 6-2
procedure 6-3
Reversing transactions
example 5-4
vs. editing 5-18
Row types 13-4
S
Sample charts of accounts 3-7, 10-12
Segment ID 12-11
Segments, set up 2-6, 12-10
Separator characters in accts. 12-5
Setup and maintenance
account autosplits 12-16
account balances 12-25
Setup and maintenance
account budgets 12-21
account classes 12-7
account segments/profit center 12-10
account structure 12-4
account types 12-8
chart of accounts 12-12
customization 12-2
recurring transactions 12-18
Source codes
explanation of 5-3
in edit transactions 5-20
in transaction entry 5-6
recurring transactions 12-20
system-assigned 5-3
Special options 11-1
ASCII input 11-7
change account number 11-4
change account structure 11-5
change posted transactions 11-2
consolidated statements 11-6
report designer 11-3
Statement contents
add new/insert/edit 13-7
copy 13-10
delete 13-11
list 14-15
maintain 13-3
make copy of existing 13-2, 13-3
reverse sign to print 13-9
row types 13-4
use account structure for company ID 13-4
Statement definitions list 14-17
Statements
build 13-12
consolidated 11-6
contents list 14-15
copy 13-16
definitions list 14-17
delete 13-17
footers 13-14
maintain 13-13
print-time inserts 13-15
set up contents for 13-2
Structure, account 12-4
setup procedure 2-4
Summarize transactions 10-5
T
Transaction entry
add new 5-5
autosplit check box 5-6
before beginning 5-2
beginning balance entries 3-14
copy recurring transactions 5-12
default account 5-9
display style 5-9
edit transactions 5-18
enter source 5-7
opening balances 3-14
options button 5-7
options 5-8
out of balance 5-10
override unbalanced trans. 5-11
overview 5-2
procedure 4-4
project information 5-7
reference 5-5
reversing entries 5-4
reversing incorrect entries 5-4
setting up autosplits 5-4
using source codes 5-3
write transactions 5-7
Transaction journal 7-2
Transaction reports
account activity 7-5
post transactions 7-8
transaction journal 7-2
Transactions
account activity report 7-5
adjusting at year-end 4-6
change posted 11-2
edit 5-18
entry screen 5-5
how to process 4-4
normal balances chart 15-11
opening entries 2-9
post 7-8
print journal 7-2
recurring transactions 2-8, 12-18
recurring, list 14-13
reversing incorrect entries 5-4
summarize 10-5
Trial balance 8-7
working 8-5
Types, account 12-8
set up procedure 2-5
U, V, W, Y, Z
Unposted transaction file 6-3
Utilities 10-1
copy account balances 10-2
copy chart of accounts 10-9
copy sample chart of accounts 10-12
recalculate account balances 10-2
summarize transactions 10-5
Index
5
Utilities (continued)
zero account balances 10-3
Valid format characters 12-5
Validate accounts 12-6
Working trial balance 8-5
Workstation date 3-14
Write transactions 5-7
Year
add prior 9-4
change 4-6, 9-15
remove 9-5
Year-end closing 9-2
close and start new year 4-6
Zero account balances 10-3
6
Index