accpac gl user guide

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Copyright 2002 ACCPAC International, Inc. All rights reserved.

ACCPAC International, Inc.Publisher

No part of this documentation may be copied, photocopied, reproduced, translated,microfilmed, or otherwise duplicated on any medium without written consent of ACCPACInternational, Inc.

Use of the software programs described herein and this documentation is subject to theACCPAC International License Agreement enclosed in the software package.

ACCPAC, the ACCPAC logo, and Simply Accounting are either registered trademarks ortrademarks of ACCPAC International, Inc. or its affiliates in the United States and/or othercountries. All other marks are trademarks or registered trademarks of their respectivecompanies.


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EXHIBIT A

SupportPlusTM

Program

Terms and Conditions

1. The following terms and conditions govern the relationship between Client and ACCPAC International,Inc. (ACCPAC) with regard to the services to be supplied for the Products.

2. Levels of service during the term of the Agreement:

Bronze provides product upgrades and updates Silver provides product upgrades and updates; TechnoPedia; and callback support technicianservice up to 12 issue resolutions (North America Only)

Gold provides product upgrades and updates; TechnoPedia; callback support technician service;unlimited issue resolutions; support analyst service; system analysis service; environment profile;orientation and quarterly review (North America Only)

3. Products: Client must be on the then-current version of the Product to purchase SupportPlus. Clientrepresents and warrants that the Products included are all the Products currently licensed fromACCPAC.

4. SupportPlus Fee: The SupportPlus fee (Fee) will be based on the then-current list price. Multi-yearoptions are also available. ACCPAC agrees to invoice the Client for the Fee forty-five (45) days inadvance of the due date. Client agrees to pay the Fee as invoiced. Fees are non-transferable and non-

refundable.

5. Lapsed SupportPlus Coverage: To resume SupportPlus coverage after a lapse, Client must purchase aminimum of one (1) full year of Service and pay a Reinstatement Fee. The Reinstatement Fee will beten percent (10%) of the then-current Fee for each month of lapsed coverage, as well as a surcharge often percent (10%) of the Fee.

6. Upgrades: Clients who are not current on SupportPlus and desire to purchase a Product upgrade may doso by contacting an ACCPAC Business Partner (ABP).

7. Term of Agreement/Renewal: This Agreement shall commence on the first date payment is received byACCPAC and will continue for the period set forth on the invoice (Term), but in no event less thantwelve (12) months or until terminated by providing ACCPAC with thirty (30) days written notice. TheFee is not refundable.

8. Additional Services: Additional services may be purchased at ACCPACs then-current published rates.All expenses incurred by ACCPAC, including reasonable transportation and lodging, shall be paid forby Client. The Fee and availability of international on-site visits shall be determined on a case-by-casebasis.

9. Audit: Client shall permit ACCPAC and its representatives and agents to conduct periodic audits ofClients Products.

10. Client Responsibility: Client is responsible for maintaining the security of its Client ID number. Underno circumstance shall Client allow persons other than employees of ABPs of Record to use its Client IDnumber. Clients ABP may be changed at any time by completing the Change of Business Partner ofRecord Designation Form.

11. Limitations: ACCPAC shall have no obligation to support altered, damaged or modified Product, or toremedy problems caused by: (i) Clients negligence, abuse or misapplication of the Product; (ii) use ofthe Product other than as specified in the ACCPAC documentation; or (iii) hardware malfunctions,software not licensed by ACCPAC, or Product which is not the then-current release. Client agrees, at itsexpense, to assist ACCPAC in its obligations hereunder by providing documentation of problems andtest data. ACCPAC shall have no obligation to resolve problems if Client fails to reasonably cooperate.Support shall be provided in the English language, except as otherwise agreed by the parties and subjectto payment of any additional fees required by ACCPAC in connection therewith.

12. Limitation of Liability: ACCPAC liability for damages from any cause of action whatsoever relating toACCPACs agreement to provide services shall be limited to the amount paid by Client for the servicesfor the applicable year. ACCPACs liability shall be further limited as provided in the End User LicenseAgreement between Client and ACCPAC for the Product, which may be either a signed agreement orelectronic end-user license accompanying the Product (respectively EULA).


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THESE TERMS AND CONDITIONS CONSTITUTE A SERVICE CONTRACT AND NOT APRODUCT WARRANTY. THE PRODUCT AND ALL MATERIALS RELATED TO THEPRODUCT ARE SUBJECT EXCLUSIVELY TO THE WARRANTIES SET FORTH IN THE EULA.THIS AGREEMENT IS IN ADDITION TO THE EULA AND DOES NOT CHANGE, EXPAND ORSUPERSEDE ANY TERM OF THE EULA EXCEPT TO THE EXTENT UNAMBIGUOUSLYEXPRESSED TO DO SO.

IN NO EVENT SHALL ACCPACS AGGREGATE LIABILITY FOR ANY CLAIM HEREUNDER

EXCEED THE FEES PAID TO ACCPAC FOR THE PRECEEDING TWELVE (12) MONTH PERIOD.13. Force Majeure: Neither party shall be held responsible for any reasonable delay or failure in

performance hereunder caused by fires, strikes, embargoes, acts of nature, or other causes beyond theirreasonable control.

14. Default and Termination:

a) If Client breaches any of the terms, conditions or provisions of this Exhibit A, and fails to cure suchbreach within thirty (30) days after written notice thereof, ACCPAC shall have the right toterminate the Services without further notice.

b) In the event of Clients breach, ACCPAC may, in addition to the right to withhold its performanceunder and/or terminate this Agreement, avail itself of all other rights, remedies and causes of actionavailable at law, in equity or otherwise, against such party for damages as a result of such breach.

Unless otherwise provided in this Agreement, remedies shall be cumulative and there shall be noobligation to exercise a particular remedy.

c) Any expiration or termination of this Agreement shall not prejudice, limit, or restrict any otherrights or remedies either party may have arising prior to such expiration or termination. ACCPACshall be under no obligation to refund any amounts paid by Client.


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User Guide iii

Contents

Chapter 1: Introducing the User Guide

How to Use This Guide ......................................................... 11

How to Use the General Ledger and Financial Reporter Manuals ................... 12

The General Ledger Getting Started Manual .................................. 12

The General Ledger User Guide ............................................. 13

The Financial Reporter User Guide........................................... 13

Where To Now ................................................................ 13

Chapter 2: What You Need to Know Before Using

General LedgerSources of General Ledger Batches............................................... 22

Posting........................................................................ 23

Provisional Posting......................................................... 24

Processing Multicurrency Transactions ....................................... 25

General Ledger Transaction Processing Chart ................................. 27

Creating General Ledger Journal Entry Batches ................................... 27

Journal Entries and Details.................................................. 28

Using the Journal Entry Form ............................................... 29

Information Posted with Each Batch ........................................ 210

If the Batch Contains Errors ................................................ 211

Creating Other General Ledger Batches ......................................... 212

Allocation Batches.........................................................212

Revaluation Batches....................................................... 214

Export Batches for Reuse...................................................216

Batches from ACCPAC Advantage Series and ACCPAC Plus Subledgers ....... 217

Imported Batches ......................................................... 218

Recurring Entries..........................................................219


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iv ACCPAC General Ledger

Posting Batches .............................................................. 220

Posted Transactions....................................................... 222

Posting Journal........................................................... 223

Posting Batches to a Previous Year .........................................

224Reviewing Batches............................................................ 225

Displaying Batches........................................................ 225

Printing Batches .......................................................... 226

Period End and Year End ..................................................... 226

Create New Year ......................................................... 227

Period End Maintenance .................................................. 228

Consolidate Posted Transactions ........................................... 228

Transaction Flow in Integrated ACCPAC Applications........................... 229

Where To Now?..............................................................

230

Chapter 3: Maintaining AccountsAccount Maintenance .......................................................... 32

Before Using .............................................................. 32

How to Use ............................................................... 36

After Using .............................................................. 311

Changing and Deleting Account Information.................................... 311

Deleting Accounts ........................................................ 312

Chart of Accounts ............................................................ 313

Budget Maintenance .......................................................... 313

Before Using ............................................................. 314

How to Use .............................................................. 315

Deleting Budget Sets...................................................... 319

Account History Inquiry ...................................................... 320

How to Use .............................................................. 321

Transaction History........................................................... 322

Before Using ............................................................. 323

How to Use .............................................................. 323

Fiscal Set Comparison......................................................... 324

Before Using ............................................................. 324

How to Use .............................................................. 325


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vi ACCPAC General Ledger

Create New Year .............................................................. 53

Before Using .............................................................. 54

How to Use ............................................................... 55

After Using ...............................................................

56Period End Maintenance ....................................................... 56

Before Using .............................................................. 57

How to Use ............................................................... 57

Consolidate Posted Transactions ................................................ 57

Before Using .............................................................. 58

How to Use ............................................................... 59

After Using .............................................................. 510

Create Allocation Batch ....................................................... 510

Before Using.............................................................

510How to Use .............................................................. 511

After Using .............................................................. 512

Create Revaluation Batch...................................................... 512

Before Using ............................................................. 513

How to Use .............................................................. 514

After Using .............................................................. 515

Creating a Recurring Entry Batch .............................................. 515

Before Using ............................................................. 515

How to Use..............................................................

516After Using .............................................................. 517

Clear History ................................................................ 517

Before Using ............................................................. 517

How to Use .............................................................. 518

Chapter 6: ReportsPrinting Reports and Financial Statements ....................................... 62

Audit Reports and Listings..................................................... 63

Viewing G/L Reports...................................................... 63

Report Icons and Forms .................................................... 63

Chart of Accounts ............................................................. 64

Trial Balance.................................................................. 69

Transactions Listing .......................................................... 614


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User Guide vii

Source Journals ............................................................... 618

Batch Status .................................................................. 622

Batch Listing ................................................................. 624

Posting Journals..............................................................

626Account Structures............................................................630

Segment Codes ............................................................... 631

Source Codes .................................................................633

Source Journal Profiles ........................................................ 635

Revaluation Codes............................................................ 636

Options...................................................................... 637

Recurring Entries Report ...................................................... 639

Financial Reports ............................................................. 641

Saving Report Values by Printing to a File...................................

642

Appendix A: Error MessagesUsing Online Message Help.................................................... A1

Appendix B: Setup Checklist and Data Entry Forms

General Ledger Setup Checklist.................................................

B1General Ledger Data Entry Forms ...............................................B2

Sample Setup Checklist and Data Entry Forms....................................B3

Appendix C: Importing and ExportingImport and Export Functions................................................... C1

G/L Import and Export Data................................................... C2

Account Master...........................................................

C3Account Fiscal Sets ........................................................ C4

Account Mappings ........................................................ C4

Journal Header and Journal Detail .......................................... C5

Revaluation Code ......................................................... C6

Segment Codes ........................................................... C6

Source Code .............................................................. C6


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viii ACCPAC General Ledger

Source Journal Profile...................................................... C6

Structure Codes ........................................................... C7

Using the Sample Chart of Accounts ............................................ C7

Using the Sample Chart of Accounts Without Changes........................

C8Steps for Creating a General Ledger with the Sample Chart of Accounts ........ C8

Chart of Accounts for General Ledger Sample Data .......................... C14

Appendix D: General Ledger SecurityGroup Security ................................................................D1

Appendix E: Technical Information

Creating Macros............................................................... E1

Running Visual Basic Macros in General Ledger.............................. E1

Examples of Visual Basic Macros ............................................ E2

Multiuser Considerations ...................................................... E5

Global Locks .............................................................. E6

Single-User Processes ...................................................... E7

Multiuser Data Protection .................................................. E7

Index


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User Guide 11

Chapter 1Introducing the User Guide

This chapter introduces you to the General Ledger User Guide. TheUser Guidecontains an overview of General Ledger processing aswell as detailed information about the day-to-day and periodicoperations of General Ledger.

How to Use This Guide

Use the General Ledger User Guideto find information about thefollowing:

Chapter 2, What You Need to Know Before Using General

Ledger,presents an overview of General Ledger processing andprovides you with the information you need as you entertransactions and perform periodic maintenance tasks.

Chapter 3, Maintaining Accounts,describes the tasksinvolved in defining and maintaining accounts.

Chapter 4, Transaction Processing, describes the tasksinvolved in entering and processing transactions, and reviewingthe audit trail in General Ledger.

Chapter 5, Periodic Processing,describes the tasks youperform at year end to prepare for the new fiscal year. Chapter 5also includes information on consolidating posted transactions,on periodic allocation of account balances, on creating batches ofrecurring entries, on revaluation of source currency amounts in

multicurrency systems, and on clearing history.Chapter 6, Reports,shows you examples of General Ledgerreports and lists, and describes their features.

Appendix A, Error Messages,contains an alphabetical listingof the messages you might encounter while using theapplication, and tells you how to respond to each situation.


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How to Use the General Ledger and Financial Reporter Manuals

12 ACCPAC General Ledger

Appendix B, Setup Checklist and Data Entry Forms,explainshow to print data entry forms and checklists designed to easeGeneral Ledger setup and daily data entry tasks.

Appendix C, Importing and Exporting,describes GeneralLedger's importing and exporting functions and explains how tocreate files of account and transaction information to import intoGeneral Ledger.

Appendix D, General Ledger Security,lists the GeneralLedger task groups to which security can be assigned.

Appendix E, Working with Macros,contains information aboutGeneral Ledger programs and files. This appendix is intendedfor persons with some programming knowledge who want tocreate macros for use with General Ledger.

The Indexcontains an alphabetical listing of topics in this guide,with corresponding page-number references.

How to Use the General Ledger and FinancialReporter Manuals

The General Ledger and Financial Reporter package containsthis General Ledger User Guide, the General Ledger Getting Startedmanual, and the Financial ReporterUser Guide.

The General Ledger Getting Started Manual

The Getting Startedmanual introduces the General Ledger andFinancial Reporter software and documentation. It provides anoverview that will help you make best use of General Ledgerspowerful features and then steps you through starting andsetting up the application. It also contains instructions forconverting your data from the ACCPAC Plus Financial Reporterto ACCPAC Advantage Series.

The Getting Started manual also includes tutorial lessons that willhelp you learn to use General Ledger.


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Where To Now

User Guide 13

Converting fromACCPAC PlusGeneral Ledger

If you are converting your data from ACCPAC Plus GeneralLedger to ACCPAC Advantage Series, see the Converting fromACCPAC Plus Accountingmanual, which comes separately.

The General Ledger User Guide

The General Ledger User Guidecontains an overview that will helpyou understand General Ledger processing. The User Guidealsodetails daily and periodic processing and maintenanceprocedures, and tells you when and how to use each procedure.You can see examples of reports with suggestions for when toprint. The appendixes in this guide describe the import andexport features and provide other technical information for

advanced or otherwise interested users.

The Financial Reporter User Guide

The Financial ReporterUser Guideis your guide to developingcustomized financial statements. Use Financial Reporter if thepredefined balance sheets and income statements included withGeneral Ledger are not suitable to your needs.

Where To Now

Read Chapter 2, What You Need to Know Before Using GeneralLedger, in this guide for an overview of General Ledgerprocessing. Refer to Chapter 3, Maintaining Accounts, Chapter4, Transaction Processing, Chapter 5, Periodic Processing,and Chapter 6, Reports, in this guide for information aboutusing particular General Ledger maintenance, processing, andreporting functions.


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User Guide 2i

Chapter 2What You Need to Know

Before Using General Ledger

Sources of General Ledger Batches............................................... 22

Posting........................................................................ 23

Provisional Posting......................................................... 24

Processing Multicurrency Transactions ....................................... 25

General Ledger Transaction Processing Chart.................................

27Creating General Ledger Journal Entry Batches ................................... 27

Journal Entries and Details.................................................. 28

Using the Journal Entry Form ............................................... 29

Information Posted with Each Batch ........................................ 210

If the Batch Contains Errors ................................................ 211

Creating Other General Ledger Batches ......................................... 212

Allocation Batches.........................................................212

Revaluation Batches....................................................... 214

Export Batches for Reuse...................................................216

Batches from ACCPAC Advantage Series and ACCPAC Plus Subledgers ....... 217

Imported Batches ......................................................... 218

Recurring Entries..........................................................219

Posting Batches............................................................... 220

Posted Transactions ....................................................... 222

Posting Journal ........................................................... 223

Posting Batches to a Previous Year ..........................................224

Reviewing Batches............................................................ 225

Displaying Batches ........................................................ 225

Printing Batches...........................................................226

Period End and Year End ...................................................... 226

Create New Year ..........................................................227

Period End Maintenance ...................................................228

Consolidate Posted Transactions............................................228


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2ii ACCPAC General Ledger

Transaction Flow in Integrated ACCPAC Applications........................... 229

Where To Now? .............................................................. 230


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User Guide 21

Chapter 2What You Need to Know

Before Using General Ledger

This chapter provides general information about creating,posting, and reviewing batches of accounting transactions. Itdiscusses periodic procedures such as clearing obsolete historyand making your data ready for a new fiscal year.

Chapter 4, Transaction Processing, and Chapter 5, Periodic

Processing in this manual describe in detail the forms you usefor processing General Ledger.

For an explanation of General Ledger account structure and dataprocessing options, see Chapter 2, What You Need to KnowBefore Setting Up General Ledger, in the Getting Startedmanual.

All transactions areentered in batches

ACCPAC General Ledger is a batch-oriented accountingsystem. All financial transactions are grouped together andentered in batches before they are posted to general ledgeraccounts.

The General Ledger batch system has the following features:

You can organize your transactions by type.

You can print, verify, and correct transactions before youpost them.

You can post transactions temporarily to test their effect.

You can establish a reliable, detailed, and complete audittrail.

Transactions areJournal Entries

In a manual accounting system, transactions are recorded asjournal entries, with a debit and credit balance, a date, adescription, and whatever comments or references you want toadd. The same is true in ACCPAC General Ledger.


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Sources of General Ledger Batches


Sources of General Ledger Batches

Transactions appear in the General Ledger in batches in severalways. You can:

Enter individual transactions in General Ledger batches.

Create General Ledger batches with ACCPAC subledgers,such as Accounts Receivable, Accounts Payable, and Payroll.

Subledgers in the same database create batches directly inGeneral Ledger. They are available immediately for editingor posting.

Create batches of recurring transactions automatically in

General Ledger.

Create batches automatically in General Ledger to allocateaccount balances to other accounts.

Create batches in General Ledger to revalue source currencyaccount balances in a multicurrency ledger.

Import batches of transactions that you exported previouslyfor later reuse.

Import batches of transactions from remote ACCPACsubledgers and from non-ACCPAC applications, using avariety of file formats such as CSV, Access, and Excel.

Retrieve batches of transactions from ACCPAC Plussubledgers.

ACCPAC retrieves subledger batches from version 6.0 orhigher of ACCPAC Plus applications. It will not retrievetransaction batches from earlier versions of ACCPAC Plus.

You can process subledger, imported, and retrieved batches inthe same way as you create batches in General Ledger. The onlydifference is that you can restrict the editing of subledger,imported, and retrieved batches.


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Posting

User Guide 23

Posting

Postingis the process by which General Ledger adds transactionamounts and quantities to accounts. When you post a batch oftransactions, General Ledger updates the account balances forthe affected periods. Posting also adds all journal entry detailsfrom the batch to a posted transactions file and deletes the batch.

Until you post batches, you can look at, change, add, and deletetransactions in a General Ledger batch.

You controlbatch editing

General Ledger gives you control over the extent of editingallowed for subledger and non-ACCPAC batches.

Posting sequence

number

General Ledger assigns a unique posting sequence number to

the batch posting run, and attaches this number to each journalentry it posts.

The posting sequence number is a key auditing reference,because you can print posted transactions by this number. (Youcan also list posted transactions by batch number, transactiondate, source code, currency, and reference.)

Posting auto reversalentries to last fiscalperiod

General Ledger lets you post auto-reversing journal entries inthe last fiscal period of the year without having to create the

new fiscal year first. When you post entries for the current year,General Ledger automatically creates a batch of reversing entriesfor the new fiscal year. You must post these reversing entriesonce you create the new year.

You cannot editposted transactions

Once a batch is posted successfully, you can change the effectsof its transactions only by posting adjustments in anotherbatch.

List batches beforeyou post them

To make sure your batches are error-free before you post them,turn on the option to force listing of batches. This option forces

you to print each batch before posting it, and gives you theopportunity to correct errors before posting.

Print the PostingJournal after posting

After posting, print the Posting Journal for an audit record ofposted transactions.


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Posting


General Ledgers method of batch and transaction processingprovides great flexibility at the batch-entry stage, and tightauditing control during and after posting.

If you carefully maintain and identify source documents, andprint and file all audit trail reports, you will be able to trace anydebit or credit detail from source to financial statement, and backagain.

Online trail General Ledger also lets you drill down from TransactionHistory to transactions originating in ACCPAC subledgers, untilyou remove the transaction details from the subledger or youconsolidate General Ledger transactions.

Provisional Posting

If you want to test the effects of posting before you actually posttransactions to ledger accounts, use General Ledgersprovisionalpostingfeature (available in Enterprise and Corporate Editionsonly).

Provisional posting lets you post a batch temporarily withoutdeleting the batches. You can print financial statements with andwithout the provisional transaction totals, and you can continue

editing the batches until you post them permanently.Provisional postings are unposted each time you perform anormal posting. You must post an open batch provisionallywhenever you want to see the effects of posting temporarily.

To post provisional batches in your General Ledger, you selectthe option to allow provisional posting. This option is describedin Chapter 3, Setting Up General Ledger, in the Getting Startedmanual.

Provisional posting

sequence numbers

A posting sequence number is assigned each time you postprovisional batches. The number is printed with transactions inthe Provisional Posting Journal.


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Posting

User Guide 25

Processing Multicurrency Transactions

You process multicurrency transactions the same way youprocess single-currency transactions, although multicurrency

transaction entry provides several additional fields.

In a multicurrency General Ledger, you can:

Enter transactions in the Journal Entry form.

Review and optionally edit transactions from ACCPACsubledger programs.

Import transactions from non-ACCPAC applications.

Post transactions either provisionally or permanently.

Single-currency andmulticurrencysubledgers

General Ledger interacts with single-currency or multicurrencysubledgers and imported batches as follows:

A multicurrency General Ledger can receive, import, orretrieve transaction batches from multicurrency orsingle-currency subledgers.

A single-currency General Ledger can receive transactionbatches from localmulticurrency ACCPAC subledgers andcan retrieve multicurrency batches from an ACCPAC Plus

subledger.

A single-currency General Ledger cannot importmulticurrency batches from remoteACCPAC subledgers.

A single-currency General Ledger cannot importmulticurrency batches from non-ACCPAC applications.

If you want to bring transactions of this type into GeneralLedger, you must edit the import file to remove themulticurrency fields before you can import the transactions.

Setting up amulticurrency ledger

You must set up Common Services and General Ledger toaccept and process multicurrency transactions by followingthese steps:

1. When you activate Common Services for a new company,select the Multicurrency option, assign a default rate type,and select a functional currency. The functional currency is


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Posting


the home office currency in which you intend to maintainyour basic accounting and financial reporting.

Note: You can turn on the multicurrency option at any

time. Once you have turned it on and selected the functionalcurrency, you cannot change the choices.

Converting to theeuro

If your company is converting to the euro, you need toexport existing accounts, create a new company in ACCPAC,and import a batch to the new company to post totals in theeuro. (You can use the G/L Consolidations program to makethis task easier.)

2. Within Common Services, you also define the currencies,rate types, currency tables, and exchange rates you want to

use. (For information, see the System ManagerUser Guide.)

3. On the General Ledger Options form, select themulticurrency option and assign a default rate type. (SeeChapter 3, Setting Up General Ledger, in the GettingStartedmanual.)

If you want to selectthe euro as yourfunctional currency

Companies based or operating in European Monetary Union(EMU) member countries that are setting up their GeneralLedger for the first time can designate the euro (EUR) astheir functional currency and their national currency as a

reporting currency.

If you selected the euro as your functional currency in theCompany Profile form in Common Services, you mustdesignate a reporting currency rounding account. Thisaccount is used by the General Ledger to ensure that reportsprinted in the reporting currency balance.

4. In General Ledger Accounts, turn on the multicurrencyoption for multicurrency accounts, as described in theDefining Multicurrency Accounts section, in Chapter 2,What You Need to Know Before Setting Up GeneralLedger, in the Getting Startedmanual.

When you specify a multicurrency account in a journal entrydetail line, the multicurrency data fields become accessible forthat entry.


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Creating General Ledger Journal Entry Batches

User Guide 27

General Ledger Transaction Processing Chart

The following chart illustrates how transactions are processed inGeneral Ledger.

CreateBatches

JournalEntryBatch

ACCPACSubledger

Batch

RevaluationBatch

AllocationBatch

Non-ACCPAC

Batch

RecurringEntryBatch

istatches

Print Batch Listing

Correct Errors Does the batch contain errors?

PostBatches

Post Batch

Does the batch contain errors?

Print Audit Trail Reports Print

and Financial ReportsPosting JournalSource Journals

G/L Transaction Listing

Batch Status Report

Financial Statements

Yes

No

Yes

No

Figure 2.1 Processing Transactions in General Ledger


This section describes journal entries and suggests procedures tohelp you track them.


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Journal Entries and Details

Ajournal entryin General Ledger is like a manual journal entry.It is entered for a single fiscal period, and the sum of the debits

equals the sum of the credits. General Ledger automaticallyassigns a number to each journal entry to identify it for the audittrail.

Each debit line and each credit line in a journal entry is called adetail. When you print a report in Detail format, the report listsevery debit line and credit line for the account unless detailswere consolidated during or after posting.

For example, if you wrote a check to pay rent, the debit andcredit details might be:

General Ledger Account Debit Credit

In General Ledger, this is one journal entry with two details.

If one check is written to pay several expenses, the compoundjournal entry might look like this:

General Ledger Account Debit Credit

In General Ledger, this is one journal entry with four details.

The number of possible journal entries in a batch is limited onlyby the capacity of your hard disk. As a practical matter,however, you should limit your batches to the number of journalentries you can manage easily. You might also enter batches bytype of transaction, by fiscal period, or by source currency tosimplify the audit trail.


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User Guide 29

Using the Journal Entry Form

You use the Journal Entry form to add batches directly into theGeneral Ledger. You also use this form to edit general ledger

batches (whether created by an ACCPAC subledger or importedor retrieved into General Ledger from a non-ACCPACapplication).

All details of an entryare posted to thesame period

All the details for a single journal entry are posted to a singlefiscal period. A single batch can include journal entries anddetails for different periods or years. However, it is usually not

a good accounting practice to mix dates, periods, and years in abatch, because it complicates auditing procedures.

The ADJ adjustmentperiod

One of the choices at the fiscal period prompt, in addition tothe 12 or 13 regular periods in your fiscal calendar, is the ADJor adjustment period. Select ADJ as the fiscal period for finaladjusting entries at the end of your fiscal year. Post adjustingentries to the ADJ period to keep your final regular fiscal periodbalance intact for your audit trail. You can select entries postedto the ADJ period when you print posting and other audit

reports.Make sure the adjustment period is unlocked in your fiscalcalendar before you enter and post adjusting entries using theADJ period.

The CLS closingperiod

Another choice at the fiscal period prompt, in addition to the 12or 13 regular periods in your fiscal calendar, is the CLS or


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closing period. If the closing transactions generated when youcreate a new fiscal year contain errors, General Ledger willcreate an error batch. You can edit the batch to correct the errorsand then post the batch to the CLS period to keep your final

regular fiscal period balance intact for your audit trail. You canselect entries posted to the CLS period when you print the G/LTransactions Listing.

Make sure the closing period is unlocked in your fiscal calendarbefore you edit and post closing entries using the CLS period.

Each journal entrymust be balanced

General Ledger requires each journal entry to balance beforeyou can post it, but you can save a journal entry that does notyet balance.

Being able to save out-of-balance journal entries is useful ifsomething interrupts your work before you finish an entry thathas numerous details. You can stop and save the work you havedone so far.

Information Posted with Each Batch

You can include all of the following information in each GeneralLedger batch of journal entries. Some pieces of information are

required (like the account number with each journal entrydetail), some are supplied by the system (such as the batchnumber), and some are optional (like comments, references, anddescriptions). Optional items are generally there to help youkeep better records.

Batch information For each batch:

Batch number (provided by the system). Description (optional).

Journal entry data For each journal entry:

Journal entry number (provided by the system). Description (optional). Year and Period. Date (used as the default for journal entry details). Source code (used as the default for journal entry details).


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User Guide 211

Auto reversal (if checked, simultaneously posts reversingjournal entry to the next period).

Entry mode (either quick or normal).

Journal entry detaildata

For each transaction detail line:

Line number (supplied by the system) Reference (optional). Description (optional). Account number. Debit or credit amount, and quantity. Date (same as journal entry or different for detail). Source code (same as journal entry or different for detail). Comments (optional).

Multicurrency detaildata

If your general ledger is multicurrency, enter the following:

Currency. Currency rate type. Currency rate. Source and functional currency debit or credit amount.

General Ledger supplies the currency rate date for details inmulticurrency transactions.

If the Batch Contains Errors

Journal entries witherrors go into anunposted batch

During regular (not provisional) batch posting, General Ledgerposts entries that are free from errors and creates an unpostedbatch containing any journal entries that contain errors.

Errors include unbalanced journal entries, nonexistent accountnumbers, and locked fiscal periods.

Errors in provisionalposting stay in the

batch

Errors in a provisionally posted batch are also not posted, butthey remain in the original batch. The errors are noted in areport called Provisional Posting Journal Errors, but the systemdoes not create a new batch to contain the incorrect journalentries.


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Creating Other General Ledger Batches


You can edit unposted batches of rejected journal entries likeany other unposted batch. In a provisional batch, you edit theentries listed as erroneous in the Provisional Posting JournalErrors report. Once you correct the entries, you can post the

batch.


General Ledger batches can originate from several sources inGeneral Ledger other than Journal Entry. Also, ACCPACsubledgers can create batches of transactions to be posted to theGeneral Ledger and you can retrieve batches from ACCPAC

Plus. Finally, you can import transactions from remote ACCPACAdvantage Series subledgers and from spreadsheets, databases,and other accounting software capable of exporting data.

Allocation Batches

The automatic allocation function creates batches of journalentries that allocate (distribute) the balances of accounts youspecify to other accounts. For example, after you analyze the

distribution of salaries to cost centers, you can regularly allocateliability insurance costs to the cost centers according to apercentage based on your analysis.

You can allocate accounts on an as-needed basis, typically atperiod end. You should also perform allocation before printingfinal financial statements.

You can put all allocations into the same batch or separate theminto batches by account or by a range for a specified segment.You also specify the posting date and fiscal period to be attached

to the journal entries.


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User Guide 213

Contents ofallocation batches

An allocation batch contains a single balanced journal entry foreach account to be allocated. The entry consists of the followingdetails:

Transaction details containing debit and credit amounts tobe distributed to each allocated-to account, based on youraccount setup instructions.

An offsetting detail transaction to the allocated account.

For example, assume that you have provided the followinginstructions for allocating the Corporate Accounting & LegalFees account (account number 5550-1):

Account

Allocation

Percent

5550-10-1 Accounting & Legal Fees - Dept. 10 40%



The allocation journal entry created to distribute a balance of$1000.00 in account 5550-1looks like this:

Account Debit Credit

When you post this entry, the balance of the allocation account isreduced to zero and the amount is distributed to the accounts towhich the balance is allocated.

You process allocation batches in the same way as all otherbatches. You can modify them using the G/L Journal Entryform, for example, to add comments, change source codes ordescriptions, or to transfer a remainder amount to anotheraccount.


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You can print Batch Listings of allocation batches, post them,and print Posting Journals for them. As a further audit control,you can also define and print source journals of allocation entriesif you assign a unique source code to allocation transactions.

You can find detailed information about setting up allocations inthe section Allocation in Chapter 2, What You Need to KnowBefore Setting Up General Ledger, in the Getting Startedmanual. Chapter 5, Periodic Processing, in this manualdiscusses creating batches of allocation transactions.

Revaluation Batches

When exchange rates change, you can automatically revaluemulticurrency accounts at the new rates. The procedure createsbatches of transactions to adjust the balances in the accounts youspecify for revaluation. You can revalue as many currencies asyou wish at any time, typically at period end or when currencyrates fluctuate rapidly.

You can list and edit revaluation batches before posting.

Revaluation revalues the functional-currency equivalents ofsource currency amounts using a specified exchange rate. It

posts the difference between the new functional currency valueand the old functional currency value to the UnrealizedExchange Gain or Unrealized Exchange Loss account.

Accounts must beactive before youcan post them

Before posting revaluation batches, make sure the accounts youassigned as Unrealized Exchange Gain and UnrealizedExchange Loss accounts and the accounts being revalued areactive. Revaluation will create transactions for both active andinactive accounts, but you cannot post unless all accountsinvolved are active.

If you revalue in the last period of your fiscal year, you shouldcreate the new year before posting.

To illustrate revaluation, assume that account 1040 acceptstransactions in Canadian dollars and in U.S. dollars, thefunctional currency for the ledger.


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reversed in the next fiscal period, unless you edit the batch andturn automatic reversal off. Reversing the entries lets you reviewthe gains and losses on financial statements without realizingthem.

A transaction is created in each fiscal period in the range youspecify in the Create Revaluation Batch form.

Because the transactions are automatically reversed, the effect ofrevaluation is completely backed out in the fiscal periodfollowing the last fiscal period you specify for revaluation.

Chapter 5, Periodic Processing, in this manual describes therevaluation function in detail.

Export Batches for Reuse

The Export function lets you reuse batches of transactions.

Use the Recurring Transactions form to create transactions thatare posted frequently.

To create batches for reuse, you must:

1. Export an unposted batch of transactions for later import.

2. Post the original batch.

3. Import the previously exported batch when youre ready toenter the transactions.

The system creates a batch of transactions for you to review andpost, and keeps the original transactions in the export batchlocation. If necessary, you can assign a different date and fiscalperiod to the entries in the new batch. You can then post thisbatch. Batches can be imported over and over.

Batches exported for import later are particularly useful fortransactions that you want to post periodically, such as monthlydepreciation entries, accruals, or other monthly journal entries.

To export a batch for importing later, or for any other purpose,follow the instructions in Appendix C, Importing andExporting, in this manual.


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User Guide 217

Batches from ACCPAC Advantage Series and ACCPAC PlusSubledgers

Subledger batches can originate in the following ways:

ACCPAC Advantage Series subledgers create batches oftransactions in General Ledger.

Remote ACCPAC Advantage Series subledgers create filesof transactions that you can import into General Ledger.

ACCPAC Plus subledgers create files of transactions you canretrieve in General Ledger.

ACCPAC retrieves subledger batches from version 6.0 or

higher of ACCPAC Plus applications. It will not retrievetransaction batches from earlier versions of ACCPAC Plus.

Integratingsubledgers withGeneral Ledgeraccounts

To post transactions created by ACCPAC subledgers, you mustuse the account numbers you have defined in General Ledgerfor the corresponding accounts in the ACCPAC subledgers. Forexample, the Accounts Receivable control account numbersmust be the same in both Accounts Receivable and GeneralLedger.

When you retrieve subledger batches from ACCPAC Plus, you

can use the DOS Utility, Account Mappings, to map DOSaccounts to ACCPAC Advantage Series accounts.

Consolidatingsubledgertransactions

You should consider the amount of transaction detail yourequire in your General Ledger when you consolidate batchesin subledger applications. If you want to retain transactiondetails, either do not consolidate the G/L transactions in thesubledger application, or select the consolidation option thatleaves you with the type of detail needed to print the reports youwant in General Ledger. (The consolidation option collapsesaccount details into single balances.)

Consolidationprevents drilldown

Note, however, that if you consolidate batches in an ACCPACsubledger, you lose the ability to drill down from General Ledgerto originating transactions in the subledger.

Subledger sourcecodes

ACCPAC subledgers assign their own source codes to thedetails in the batches they create for General Ledger.


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You do not have to define these codes in General Ledger. Thecodes are automatically added when you activate the ACCPACsubledger. A description, consisting of the source applicationname and the type of transaction, is entered with the code. For

example, the source code AP-AD could include the descriptionA/P Adjustments.

Source codes forimported transactions

Before you can import ACCPAC subledger transactions from aremote site and before you can import non-ACCPACtransactions, you must add the source codes in the import fileto the list of General Ledger source codes.

Imported Batches

General Ledger can import transactions created by remoteACCPAC subledgers and by non-ACCPAC applications.General Ledger treats these imported transactions as regularbatches, integrating the General Ledger with remote ACCPACsubledgers and custom applications created by third-partydevelopers.

Data in batches imported from non-ACCPAC applications mustbe set up in a way that General Ledger understands. Forinformation about import file structure, see Appendix C,

Importing and Exporting, in this manual.During the import process, General Ledger checks the importfile. The system will not import the file if it contains errors, suchas missing source codes, source codes not already in GeneralLedger, invalid dates or fiscal periods, extra fields, and dataentered in the wrong order.

General Ledger Import cannot identify incorrect amounts, ordetails assigned to the wrong account. To avoid posting errors toyour General Ledger accounts, you should print listings of the

imported batches before you post them, and carefully check forincorrect entries.

Back up beforeimporting

You should also always back up both General Ledger and theexternal file before beginning the import process. If you haveup-to-date backups, you can restore your data if a problemoccurs when you import or post the transactions.


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User Guide 219

Recurring Entries

If you enter standard transactions on a periodic basis, forexample, to record depreciation or bank loan payments, you can

generate journal entries automatically using the CreateRecurring Entries Batch form.

Preparing Recurring-Entry Records

You use the Recurring Entries form from the G/L Setup folder toadd records for the recurring entries you use. You add recurring-entry records as journal entries, entering as many details as yourequire.

Specifying theduration of recurringentries

You can create entries you intend to apply indefinitely, or youcan create entries that will stop once you have reached a certaindate.

For more information about setting up recurring entry records,see Recurring Entries, in Chapter 2 in the Getting Startedmanual.

Set up schedules inCommon Services,first

Before you set up recurring entry records, you must create theschedules that will determine the frequency of the recurringtransactions. The schedule you attach to the recurring entry

record determines the day on which the entry is processed andwhether a user is reminded to process the entry.

You set up schedules using the Schedules form in CommonServices. For more information about setting up schedules, seethe System Manager User Guide.

Creating Recurring-entry Batches

When you are ready to process recurring entries, you use the

Create Recurring Entries Batch form. General Ledger createstransactions for the amounts specified in the selected recurring-entry records.

You can have as many recurring-entry batches as you need inyour General Ledger system at a time.


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Posting Batches


You can edit the batches, print listings for them, and post themin the same way you process other types of batches.

Assigning batch

numbers, documentnumbers, and dates

When you create a recurring-entry batch, General Ledger

automatically assigns the next available batch number to thebatch, and it assigns the next document number to each entry.General Ledger uses the run date as the batch date, and itupdates the last run date in the recurring entry record.

Posting Batches

You can post batches in General Ledger to permanently update

the data stored for the accounts specified in the transactions, oryou can post batches on a provisional basis to test the effects ofthe transactions on your ledger before posting thempermanently. You can post batches at any time, and you can postas many batches as you want at a time.

Although you will probably post the majority of your batches tothe current year, you can also post adjustments and correctionsto previous years if you select the option to allow posting toprevious years, and the previous fiscal year is active.

Posting does the following:

Posts debits and credits to the General Ledger accounts.

Creates an unposted batch of unacceptable journal entrieswhen errors are found in the entries, and automaticallyprints the errors.

Consolidates details for accounts that are set up to be postedin consolidated format.

Deletes the batches that have been posted.

Creates the Posting Journal.

Records transaction details in posted transaction files fromwhich they are retrieved for various audit trail reports.


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Posting Batches

User Guide 221

Provisional posting When you need to make adjusting entries or other entries youwould like to verify before actually posting the data, you canpost provisionally. Select the option to allow provisional postingif you want to use this preview feature.

When you post batches, either provisionally or permanently,General Ledger unposts any previous provisional posting. Ifyou want to keep provisional batches posted over a period oftime, you must remember to repost them provisionally after eachposting run.

Set provisional batches to Ready To Post in the Batch List form,where you can also post single provisional batches one at a time.

If you want to post more than one batch provisionally, you have

to do it from Post Batches, where you can specify a range.

Back up beforeposting

Back up your data before posting. Posting is a complex processinvolving all aspects of your data. If posting is interrupted byhardware malfunction or power failure, by someoneaccidentally turning off the computer, or for any other reason,your data can be damaged.

You can post unposted batches in the range you specify, postingindividual details in the same order as they were entered intothe batches. You cannot post entries to fiscal periods that are

defined as locked on the Fiscal Calendar form in CommonServices.

Force listing ofbatches

If you use the option to force listing of batches, you must listbatches before you can post them. You must also reprint thelistings for batches you edit before you can post them.

Your audit trail of posted transactions is strengthened if youroutinely print batch lists and correct errors before you post.This procedure ensures that all the transactions you grouptogether in the same batch are posted together and appear on the

same Posting Journal. This procedure simplifies the job oftracking transactions later on.

Each time you post, a Posting Journal of the transactions iscreated with a unique posting sequence number. You shouldprint the journal and file it as part of your audit trail.


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Posting Batches


Posted Transactions

The system deletes each batch after posting it. The only way tomodify the effects of posted entries is by posting adjusting

entries.

Consolidation duringposting

Posting consolidates details for accounts that are set up to beposted in consolidated format. During consolidation, the debitand credit details posted to the same account and using thesame fiscal period and source code are netted into a singleamount for the account. The consolidated detail is assigned thelast date of the fiscal period to which the details were posted.

To illustrate how consolidation works, assume the followingdetails were posted to account 1000 on May 7, 2010:

Period Source Code Date Debit Credit

4 GL-01 04/29/10 50.00

5 GL-01 05/01/10 20.00

5 GL-02 05/02/10 75.00

5 GL-02 05/03/10 40.00

5 GL-01 05/04/10 35.00

The consolidated details posted to account 1000 appear on theG/L Transactions Listing as follows:

Period Source Code Date Debit Credit

4* GL-01 04/29/10 50.00

5** GL-01 05/31/10 55.00

5** GL-02 05/31/10*** 35.00

* The detail is not changed by consolidation, because it is the only detailposted for fiscal period 4.

** The details entered for fiscal period 5 are netted into two totals, one forsource code GL-01, the other for source GL-02.

*** The date assigned to the consolidated details is the last date of thefiscal period to which they were posted.


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Posting Batches

User Guide 223

You can also consolidate details after posting. Note, however,that you cannot drill down from a consolidated transaction.

Posting Journal

The Posting Journal is the audit trail of posted transactions. Aunique posting sequence number is assigned to each journal, toidentify it for auditing and tracking purposes. The journal liststhe batch and entry number for each posted entry, and includesall the detail lines (debit and credit entries, with their associatedaccount numbers, descriptions, references, and comments) thatwere posted.

You can print provisional postings separately in the Provisional

Posting Journal reports.

Reportingconsolidatedtransactions

The Posting Journal lists account details that have beenconsolidated during posting (for accounts you have defined tobe consolidated).

The Posting Journal also lists unposted batches, if any, created tohold entries that contain errors. This information is an importantpart of the audit trail for the transactions that cannot be postedbecause they contain errors. When you post a batch that containserrors, the Posting Journal automatically prints the unpostederrors (if any occurred) when posting is complete.

You can also print the errors separately in the Posting JournalErrors report.

Printing and clearingPosting Journals

You can print the Posting Journal by a range of accountnumbers and a range of posting sequence numbers. At anytime, you can clear (remove) the data for the journal from yourdisk using the Clear History form in the Periodic Processingfolder. The clearing process makes space in the file for newdata (to conserve disk space), but does not affect postedtransactions.

You can view a sample Posting Journal in Chapter 6, Reports.


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Posting Batches


Posting Batches to a Previous Year

You can post batches of transactions to fiscal periods in anyprevious year that is within the number of years for which you

keep transaction detail.

You may wish to post transactions to a previous year to:

Create the opening account balances in a new ledger.

Correct errors in the amounts for a previous year.

Enter adjustments for a previous year, following an auditcompleted several months after year end.

Before you can post to a previous year, you must make sure that

the fiscal year exists and select the option to allow posting toprevious years. This option is discussed in Chapter 3, SettingUp General Ledger, in the Getting Startedmanual.

During posting to a previous year, all details for balance sheetaccounts are posted to the accounts, and the balances areupdated.

Posting to incomeand expenseaccounts in a

previous year

With income and expense accounts, two operations take placewhen you post to a previous year. First, the system updates thebalance of the fiscal period you post the transaction to andadjusts the subsequent periods accordingly. Then the finalperiod balance in the retained earnings account is adjusted bythe same amount.

The result is as though you had posted the transactions whenthat period was current, and subsequently closed the account toretained earnings. The Posting Journal includes the transactionscreated to recalculate the amounts closed to retained earnings.

When you post to a previous year, make sure the closing periodin the fiscal calendar is unlocked so the system can post theclosing entries.

After posting to a previous year, you should reprint all financialstatements for the previous year, to produce reports of thecorrected information, then file them with the remaining reportsfor the year.


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Reviewing Batches

User Guide 225

Reviewing Batches

You can keep track of batches in General Ledger by two basicmethods:

Display batch information on the screen.

Print batch information.

Displaying Batches

At any time you can look up batches of journal entries anddetails in both the G/L Batch List and Journal Entry forms.

The G/L Batch List form lists all batches in General Ledger,including posted and deleted batches. From the list, you canopen existing batches (so you can change entries and addentries), start new batches, post batches permanently, postbatches provisionally, and delete batches.

The G/L Batch List form supplies the following information:

Batch number Description Ledger (the application that created the batch) Last edit date Ready To Post status (No or Yes) Batch type (entered manually, from subledger, imported, or

generated) Batch status (open, deleted, posted, or provisionally posted) Printed status (No or Yes) Posting sequence number Batch total Quantity Total Creation date

Number of entries Number of errors


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Period End and Year End


Printing Batches

You can review batches by either of the following printingprocedures:

In the Batch List and Journal Entry forms, use the Printcommand on the File menu to print selected batches.

Use Batch Listing in the G/L Reports folder to print selectedbatches.

You can choose among several print destinations: your screen, aprinter, a file, or an e-mail message, or you can schedule thereport for printing at another time. You can also print the G/LBatch Status Report to obtain information about all batches,

including those you have posted or deleted.

For information about each of the batch reports, see Chapter 6,Reports.


You can perform the period end and year end processing tasksin the Periodic Processing folder at any time.

You can consolidate posted transactions, create recurringentries batches, automatically allocate account balances, andrevalue multicurrency accounts as needed.

Use the Consolidate Posted Transactions form to reduce theamount of transaction detail in your ledger. (You can alsoconsolidate details during posting, as described inChapter 3, Setting Up General Ledger, in the GettingStartedmanual.)

Use the Create Recurring Entries batch to produce journalentries that recur on a periodic basis.

Use the Create Revaluation Batch form when you want toupdate account balances at new currency exchange rates.Revaluation is discussed earlier in this chapter in the sectionCreating Other General Ledger Batches.


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User Guide 227

Use the Create Allocation Batch form when you want toautomatically redistribute account balances to otheraccounts. Allocation is discussed earlier in this chapter in thesection, Creating Other General Ledger Batches.

Use the Clear History form to remove posting journals andposted batches up to the posting sequence and batch numberyou specify.

You can also create a new year and do period end maintenanceat any time. Typically, at year end, you would:

Use the Create New Year form to zero the income andexpense accounts and transfer their balances to the retainedearnings accounts, preparing the ledger for the new year.

Then use the Period End Maintenance form to deleteobsolete accounts, transaction history, and account historyand to reset batch numbers to zero.

Create New Year

You create a new fiscal year when you are ready to beginentering transactions for the next fiscal year.

The Create New Year function creates and posts entries,transferring the balances of the income statement (income andexpense) accounts to retained earnings and produces a PostingJournal of the details.

Make sure the closing period is unlocked in your fiscal calendarbefore you create a new year or post income and expenseaccounts to previous years.

Create New Year also creates fiscal sets for all your activeaccounts for the new fiscal year, and initializes the account

balances as follows:

The system enters the previous years ending balances forbalance sheet and retained earnings accounts as the openingbalances in the new year.

The system enters the opening balances in the income andexpense accounts as zero.


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You can create a new year at any time. However, once you createa new year, each transaction you post to an income or expenseaccount in a previous year generates additional transactions toclose the account to retained earnings. The additional

transactions will consume disk space.

You should create the new year before you post transactions setto auto reverse (which include revaluations) to the last period ofthe current year. If you dont, however, posting creates a batchthat you can post once you create the new year.

Period End Maintenance

You can use any of the Period End Maintenance forms at anytime. At the end of a fiscal year, run Period End Maintenanceafter you create the new year.

Period End Maintenance clears obsolete data by deleting inactiveaccounts and account history older than the number of years offiscal sets the system keeps. Period End Maintenance alsooptionally deletes transaction history older than the number ofyears of transaction detail the system keeps and resets the batchnumber to zero.

Consolidate Posted Transactions

The optional function, Consolidate Posted Transactions, lets youreduce the detail in accounts that have a lot of entries posted tothem, but for which you do not need to permanently recordevery transaction.

Consolidation collapses account details into single balances inone of two ways:

You can create one transaction for each account and fiscalperiod.

Or

You can create one transaction for each account, fiscalperiod, and source code.


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Transaction Flow in Integrated ACCPAC Applications

User Guide 229

If you consolidate by account and fiscal period only, the result ofconsolidation is a single transaction for each fiscal period with asource code of GL-CO.

The results of consolidating posted transactions by account,fiscal period, and source code are the same as the results ofconsolidating while posting, a setup option available for eachaccount. The results of consolidation by account, period, andsource code are illustrated earlier in this chapter, in the section,Posted Transactions.

A section, Detail and Consolidated Posting, in Chapter 2,What You Need to Know Before Setting Up General Ledger, inthe Getting Startedmanual, discusses the account-by-accountoption that posts transactions in consolidated format.

Transaction Flow in Integrated ACCPACApplications

One of the great advantages of using an integrated ACCPACaccounting system is that General Ledger can function as thecentral part of an integrated accounting and reporting system.

ACCPAC subledgers such as Accounts Receivable, AccountsPayable, and Payroll create batches of General Ledgertransactions, which you can edit and post in General Ledger.This section summarizes the interaction that occurs betweenGeneral Ledger and the subledger applications.

The ACCPAC subledgers listed below create transaction batchesin General Ledger:

Accounts Receivable. Generates General Ledger transactions

when you post invoices, cash receipts, adjustments, interestcharges, and recurring charges.

Accounts Payable. Creates transactions for General Ledgerwhen you post invoices, adjustments, and manual checks, andwhen you generate checks.


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Where To Now?


Inventory Control and Analysis. Creates General Ledgertransactions when you post adjustments, receipts, shipments,and item assembly transactions.

Order Entry. Creates General Ledger transactions from postedinvoices and credit notes.

Purchase Orders. Creates General Ledger transactions fromposted receipts, invoices, adjustments, credit notes and debitnotes.

Intercompany Transactions. Creates General Ledgertransactions from intercompany transactions.

Payroll (US and Canadian). Creates transactions to be posted

to the wages payable, tax withholding, and payroll expenseaccounts in General Ledger.

Where To Now?

Once you understand how General Ledger processes andmaintains data, you can use Chapter 4, TransactionProcessing, and Chapter 5, Periodic Processing, as reference

tools as you go about your daily work. Chapter 3, MaintainingAccounts, provides reference information about the forms youuse to maintain and review your general ledger and itsassociated summary fiscal data.


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User Guide 3i

Chapter 3Maintaining Accounts

Account Maintenance .......................................................... 32

Before Using............................................................... 32

How to Use................................................................ 36

After Using ...............................................................311

Changing and Deleting Account Information .................................... 311

Deleting Accounts.........................................................312

Chart of Accounts.............................................................

313Budget Maintenance .......................................................... 313

Before Using..............................................................314

How to Use...............................................................315

Deleting Budget Sets.......................................................319

Account History Inquiry.......................................................320

How to Use...............................................................321

Transaction History ........................................................... 322

Before Using..............................................................323

How to Use...............................................................

323Fiscal Set Comparison......................................................... 324

Before Using..............................................................324

How to Use...............................................................325

Source Currency Inquiry.......................................................325

Before Using..............................................................326

How to Use...............................................................326


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User Guide 31

Chapter 3Maintaining Accounts

This chapter describes the procedures for maintaining andreviewing general ledger accounts.

For an overview of general ledger account concepts, seeChapter 2, What You Need to Know Before Setting Up GeneralLedger in the Getting Startedmanual. For step-by-stepinstructions for setting up General Ledger and adding accounts,see Chapter 3, Setting Up General Ledger, in the Getting

Started manual.

This chapter tells you how to enter and update the followingaccount information:

Accounts

Account detail such as account number, type, group,normal balance, and so forth.

Automatic allocations.

Multicurrency information for posting and revaluation.

Budgets

In addition, this chapter describes the following inquiry forms,which show you amount, quantity, transaction, and currencyinformation for accounts:

Account history inquiry

Transaction history

Fiscal set comparison

Source currency inquiry

For specific information about a field on a form, press the F1 keyor select Help from the menu to display on-screen Help. For


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Account Maintenance


instructions on how to use Help, choose Using Help from theHelp menu.

Account Maintenance

Use the Accounts form to create and maintain the chart ofaccounts, and as needed to delete unnecessary accounts.

The Accounts form lets you record required account informationand specify:

Whether the account is a control account for a subledger.

Whether you want to maintain quantities for the account.

Whether you want to allocate the account balanceautomatically.

Whether the account is multicurrency.

The multicurrency option lets you enter and reviseinformation about the source currencies used with anaccount, specify the default currency code that appearswhen you enter transactions for the account, and specify

whether revaluation should be performed.

Select themulticurrency option

You can maintain multicurrency information for an account onlyif the multicurrency option is selected first in Common ServicesCompany Profile and then in the G/L Options form.You canmaintain quantities for an account only if this option is firstselected in the G/L Options form. (Maintain Quantities isavailable only in the Enterprise and Corporate Editions.)

Before Using

You can find information about importing a chart of accountsfrom a file in Appendix C, Importing and Exporting. You maywant to consider this option as an alternative to adding accountsmanually.


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Account Maintenance

User Guide 33

Using the SetupWizard to create achart of accounts

You can also use the Setup Wizard to create a chart of accountsusing one of several template charts of accounts. Later, you canmodify the chart of accounts to suit the needs of your company.

For more information about using the Setup Wizard, refer to theinstructions in the System Manager Quick Start Guide.

Before adding Before adding an account, determine:

The account number and description, account type (balancesheet, income statement, or retained earnings), and normalaccount balance (debit or credit).

Whether to post transactions in detailed or consolidatedform.

The accounts structure code.

The account group (current assets, current liabilities,revenue, cost of sales, and so forth), if used for the company.

Whether this account is to be used as a control account forone or more subledgers, and, if so, for which subledger(s).

Whether to allocate the account balance to other accounts,and, if so, to which accounts and in what proportions.

The currencies in which you want to enter transactions forthe account (if you have a multicurrency ledger) andwhether revaluation will be performed.

Whether to maintain quantity data for the account.

Before modifying Before changing the account type, ensure that:

The account is not used as the default closing account for thecompany, or as a retained earnings account for any segmentcode.

The change will not cause the account to be in the wrongaccount group if account groups are used for the company.

Before deleting Before deleting an account, ensure that:

The account is inactive.


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Account Maintenance

User Guide 35

The account number appears in forms and reports in itsstructured format.

Active or inactive

status

You can change the status of an account to Inactive to prevent

transactions from being posted to the account. (The Active orInactive status allows or prevents posting to an account.)

You dont need to reset inactive income or expense accounts toactive at year-end in order to close them. General Ledger willcreate closing entries even for an account that is inactive.

Changing status You can change the status back to Active at any time; this statushas no effect on the behavior of an account.

Subledger control

accounts

An account designated as the control account for one or more

subledgers can only accept transactions that originate in thosesubledgers.

To designate a subledger control account, you select the ControlAccount option on the Detail tab, and enter the two-charactersubledger source code such as AR or AP on the Subledger tab.

Consolidated posting You can post in consolidated form to accounts for which you donot want to keep full detail. For example, you may not require acomplete record of all the debit and credit entries to your cashaccounts.

Note, however, that if you consolidate a posting, you cannotdrill down to the source documents for the consolidatedtransactions such as to A/R Invoices.

The system consolidates accounts by fiscal period and sourcecode during posting. The date assigned to each consolidateddetail is the last date of the fiscal period to which it was posted.

See the Posted Transactions section of Chapter 2 in thismanual for more information.

Quantities Selecting the Maintain Quantities option for an account allowsyou to enter a quantity as well as a monetary amount for eachtransaction. When you select the Maintain Quantities option, youalso enter the unit of measure (such as each, box, or gross).These fields are available only if Maintain Quantities is selectedin G/L Options.


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Automatic allocation If you choose the automatic allocation option, the Allocation tabof the form becomes available for entering allocation informationfor the account.

Account types The Balance Sheet account type is used to define asset andliability accounts. The Income Statement account type is used todefine income and expense accounts. Retained earnings accountsare used to post owners equity at year end.

Retained earningsaccounts

You cannot delete or change the account type of a retainedearnings account used as the default closing account for thecompany. You can, however, specify a different retainedearnings account as the company default and then change ordelete the original account.

Multicurrency ledgers To define multiple source currencies for an account in amulticurrency system, you choose the multicurrency option. TheCurrency tab of the form becomes available for enteringmulticurrency information for the account. You can:

Specify whether you can enter transactions only in thecurrencies you assign to the account or in all the currenciesdefined through Common Services.

Specify whether revaluation can be performed and, if so,which revaluation code to use for an account.

Switch an account from single-currency to multicurrency atany time. However, you cannot switch back frommulticurrency to single currency.

How to Use

To display the G/L Accounts form, double-click the Accountsicon in the G/L Accounts folder.

The G/L Accounts form appears. Depending on the accountoptions you choose, this form will display up to four tabs: Detail,Allocation, Currency, and Subledger.


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User Guide 37

The G/L Accounts Form

The G/L Accounts form provides the following tabs for youraccount information:

Detail tab.

Allocation tab (if the Auto Allocation option is selected forthe account).

Currency tab (if the multicurrency option is selected for theaccount; for multicurrency systems only).

Subledger tab (if the control account option is selected forthe account).

To add an account To add an account, enter the account number and other accountinformation into the form, and then click the Add button.

To change To change account information, display the account, make thedesired changes in the form, then use the Save command.

To delete To delete an account, display the account, and then use theDelete command. All information about the account, that is, theentire form, will be deleted. (See Deleting Accounts, in the nextsection, for more information.)

Detail Tab

The Detail tab records and displays required accountinformation such as the account number, type, and whetherquantities are to be maintained for the account.


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User Guide 39

Currency Tab

The Currency tab records multicurrency information for theaccount.

This tab is available only if you select the multicurrency optionfor the company in the Company Profile, for the ledger inG/L Options, and for the account on the accounts Detail tab.

To increase control, define only the source currencies thatyou know you will post to an account. The system maintains

a fiscal set for each source currency, in addition to thefunctional and equivalent fiscal sets maintained for eachmulticurrency account.

To allow posting to this account in all currencies definedthrough Common Services, select the All Currencies optionin the Post In field.

The Revaluation Code and Revaluation (Yes/No)

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