This is normally a Sales Ledger control account in the case of external transactions, a warranty claims control account in the case of warranty, and an expense account or stock account in the case of internal transactions. Input the Sales Credit account from the Nominal Ledger, e. Input the Costs Debit account from the Nominal Ledger, e. Input the Costs Credit account from the Nominal Ledger, e.
Why: Account strings are used by Fusion to ensure that the correct information is posted to the finance system from sales transactions. Q: What are common input files for general ledger? Write your answer Related questions. What are the most common input files an documents for a general ledger?
What is the most common input device of a computer? What is input ouput as used in computing? What are the most common input media? Which header files contain declaration for the files input and output functions and the macros defined and that are used with file input and output functions? Define what is meant by a common-mode input signal? What is the meaning of Purchase ledger and the Sales ledger duties in an international trading company?
What are functions of input devices? What are the most common used audio input device? How do one treat 'discount received' in the sales ledger? What does the ventral nuclei of the thalamus do? An input device that can convert printed text or graphics into computer files? What is the input current for common collector? How do you concatenate input files in C? What is the common computer input device? Most common input device?
The most common input device is? What is the most common input device? How does the CPU interact with input devices? What is in input force? What do you mean by library functions?
What is the phase relationship of the input and output voltage of common emitter amplifier? The most common input device on a computer? Which one is an input device in computer? What are four general operations of a computer? You can set up a budget for the account now or wait until all accounts have been entered. Choose Analysis to enter default Multidimensional Analysis information.
For more information, refer to the Multidimensional Analysis documentation. You can mark Revalue Account to revalue the account when the revaluation procedure is performed. Typically, cash accounts for another currency are revalued to calculate the unrealized gain or loss based on fluctuating exchange rates. You can revalue based on the net change amount for the revaluation period or based on the period balance. Use the Account Maintenance window to delete or inactivate an account.
However, once the year is closed and the above conditions are met, you can remove transaction history for the account and delete it. For more information, see Removing or printing history.
When you choose to delete an account, all budget information for the account also is deleted. You can inactivate a posting account at any time. Inactive accounts continue to appear on the financial statements if they have year-to-date activity.
When you print other reports in General Ledger, such as account lists, you can include inactive accounts. Unit accounts track nonfinancial quantities such as employee headcount, square footage or the number of customers with past due accounts. Unit accounts are similar to posting accounts. Both are used in transaction entry, and historical information and budgets can be kept for both types of accounts.
When you post to unit accounts, however, you post quantities rather than amounts. You can use unit accounts to compare financial and nonfinancial information. You can also use them with posting accounts to calculate information such as sales per employee. Use unit accounts with variable allocation accounts to allocate amounts such as rent expense to each department based on its square footage. Use the Unit Account Maintenance window to set up or add a unit account.
You also can use this window to view period balances and net change balances for the selected account. Open the Unit Account Maintenance window. The account description will be created automatically by combining the account segment descriptions. Choose Save to save the account. You can post adjustments to unit accounts in the transaction entry window.
The amount posted to a unit account will not affect the transaction totals or financial statements. Unit accounts have a debit balance and are assigned to the non-financial account category.
You can enter a one-sided transaction to adjust a unit account balance. For example, assume you have set up a unit account to track square footage in a building. In January, you sign a lease to rent an additional 10, square feet in the building. You can enter a one-sided transaction in the Transaction Entry window or add a line to an existing transaction to increase the unit account balance.
Use the Unit Account Maintenance window to delete or inactivate a unit account. You can inactivate a unit account at any time.
Fixed allocation accounts are used to distribute fixed percentages of a single transaction among several accounts. For example, a fixed allocation account might be used to divide utility expenses among the departments within a company.
When you post transactions to allocation accounts, the amounts are allocated to distribution accounts based on percentages you define. Use the Fixed Allocation Maintenance window to set up a fixed allocation account to distribute fixed percentages of a transaction among several distribution accounts.
Distribution accounts can be either posting or unit accounts; however, all distribution accounts assigned to a single allocation account must be the same account type, either posting or unit accounts. Open the Fixed Allocation Maintenance window.
If a transaction origin in the Posting Setup window is set up to use account settings, select how much detail to post to this account from each series. Select the series where you expect to use this allocation account. The account will appear in all lookup windows in the selected series. Save the account. Use the Fixed Allocation Maintenance window to delete or inactivate a fixed allocation account. Allocation accounts often are set up to accommodate a specific situation, such as a sales promotion where a specified amount of cash is distributed among locations, then broken down by department.
Once the sales promotion is over, the account might no longer be of value and can be deleted from the chart of accounts. In other situations, you might want to inactivate an account, rather than delete it from the chart of accounts. Inactivating an account prevents posting to the account, but keeps information about the account. Fixed allocation accounts can be deleted at any time, unless the account is used on any unposted transactions.
You should print this list periodically to ensure that your chart of accounts accurately reflects the current needs of your business. Variable allocation accounts are used to distribute percentages of a single transaction to several different accounts, much like fixed allocation accounts.
You might use variable allocation accounts instead of fixed allocation accounts when you need to break down expenses precisely. For example, you could set up an account, Insurance Expense, and distribute the expense among the distribution accounts set up for each department. Instead, you can use variable allocation accounts to distribute transactions based on additional factors that might change over time, such as the number of employees or the physical size of the departments in your business.
These additional factors are tracked by breakdown accounts. Breakdown accounts can be posting accounts, like sales and expenses, or they can be unit accounts, like the number of employees per department. When transactions are posted to a variable allocation account, the total is divided among its distribution accounts, based on the percentages determined by the breakdown accounts. Each time you post to a variable allocation account, the percentages might vary because the balances of the breakdown accounts might have changed.
For example, assume you need to distribute the rent expense for a building between several departments and use unit accounts to track the square footage used by each department.
You can set up a variable allocation account and use the rent expense for each department as the distribution accounts and the square footage unit accounts for the breakdown accounts.
When you post an amount to the variable allocation account, the balances of the unit accounts are used to determine the rent expense amount to post to each department. The amounts posted to variable allocation accounts are reflected in the balances of the distribution accounts. Distribution and breakdown accounts can be posting accounts or unit accounts. All distribution accounts assigned to a single allocation account must be the same account type.
All breakdown accounts assigned to all distribution accounts, for that variable allocation account, also must be the same account type. For example, you can enter posting accounts for the distribution accounts and unit accounts for the breakdown accounts.
Open the Variable Allocation Maintenance window. Indicate whether you want to calculate the percentages based on the year-to date balance or on the transaction period balance of each breakdown account. The transaction period balance is the net amount posted to the breakdown account in a period. The user date determines which period is used. If the transaction origin in the Posting Setup window is set up to use account settings, select how much detail to post to General Ledger from each series.
Select the series where you expect to use this allocation account; the account will appear in all lookup windows in the selected series. Enter or select breakdown accounts for each distribution account.
The balances of the breakdown accounts determine the percentage that will be posted to each distribution account. Use the Variable Allocation Maintenance window to delete or inactivate a variable allocation account.
Variable allocation accounts can be deleted at any time unless the account is used on any unposted transactions. When you delete a variable allocation account, you also delete associated records for breakdowns and distributions.
Retained earnings accounts are used for transferring the balances of current-year profit and loss accounts during the year-end closing process. The profit and loss accounts can be closed to two types of retained earnings accounts: a single retained earnings account or divisional retained earnings account.
A net income or net loss amount is transferred to the retained earnings account that you choose in the General Ledger Setup window.
A single retained earnings account can be a posting account or a fixed allocation account. In a single retained earnings account, the net income or net loss amount is closed to a single posting account. You can distribute the retained earnings to a fixed allocation retained earnings account.
You can use a fixed allocation account to post amounts to distribution accounts based on the fixed percentage that you defined when you set up the fixed allocation account. Use the General Ledger Setup window to set up a retained earnings account. If you decide to close the profit and loss accounts to one retained earnings account, the net income or net loss amount are closed to a single posting account or fixed allocation account.
Open the General Ledger Setup window. Enter or select a posting account or fixed allocation account to use as your retained earnings account. You can close your profit and loss accounts to divisional retained earnings accounts. If you use divisional retained earnings accounts, you can close the profit and loss accounts for each division to the retained earnings accounts that corresponds to the department.
Divisional retained earnings accounts also can be fixed allocation accounts. Account segments are used to determine how the retained earnings will be divided when using a divisional retained earnings account. You can use divisional retained earnings accounts if the following conditions apply:. The account number used for retained earnings for each department is identical, except for the account segment used to represent departments.
For example, a company has three departments and three segments in the account format. The first account segment represents the department, the second segment is the account number and the third segment is a sub-account. A retained earnings account must be set up for each department as follows:. Set up a separate retained earnings account for each division. Each account must be identical, except for the segment your division will be based on.
You must set up a retained earnings account for each division in the company, otherwise the year-end close will not take place. For example, you might enter the first segment, Department. Enter or select one of the retained earnings accounts set up earlier.
This account will be used as a template to find the retained earnings accounts for the remaining divisions. A chart of accounts is a list of all accounts in General Ledger. You can modify an existing chart of accounts or define segments to identify specific business units. Use the Account Segment Setup window to enter or change account segment definitions for each account segment number. Open the Account Segment Setup window. Enter or select a segment number.
For example, if all the accounts for Store 1 begin with , enter Enter the description for the segment. You can use General Ledger to change or copy ranges of accounts in your chart of accounts.
For example, you can copy a range of accounts created for one department for use in another department. You can use the Mass Modify Chart of Accounts window to copy, move, inactivate, delete, and update accounts in a chart of accounts. To modify the chart of accounts, see Modifying ranges of accounts. Copy Use this method to duplicate a range of accounts.
Account descriptions for the copied accounts will be formed by combining the descriptions of the account segments. Spaces will be left in the account description for any segments that have a blank description. Move Use this method to move accounts within your company. You might want to do this if a different department is now performing tasks associated with a range of accounts.
Account descriptions for the new accounts will be formed by combining the descriptions of the account segments. Inactivate Use this method to inactivate a range of active accounts with zero balances or to inactivate all accounts in the range. Delete Use this method to delete a range of accounts from the chart of accounts. All account information will be removed. Deleting accounts permanently removes them from the chart of accounts.
Update Use this method to update the level of posting for a range of accounts from the chart of accounts. For example, you might want to change the level of posting from summary to detail so that you can track additional information for that range of accounts.
All four account types—posting, unit, fixed allocation, and variable allocation—are included in the chart of accounts and can be modified using this window. The changes made in this window permanently affect the chart of accounts, so you might want to experiment with the sample company before modifying your accounting data. Open the Mass Modify Chart of Accounts window. Select Detail to post a separate distribution to each account in the range for each transaction in a batch.
Select Summary to post a summarized total for an entire group of transactions to each account in the range. For example, suppose you have a range of accounts set up for an existing department, and you want to create a similar set of accounts for a new department.
If the first segment is used to identify departments, and the existing department is identified by , you could enter in the first segment of the new account mask. The range of accounts you selected would be copied but would be substituted for the first segment. You also can display the modified range only by marking Selected Range. Only the modified accounts will appear in the scrolling window.
Unless your business is new, you must enter existing accounting data if you want it to be available for comparative analysis. You can enter beginning balances for a new fiscal year or in the middle of a fiscal year. You also can enter account history. You can keep unlimited years of account and transaction history in General Ledger. If you choose to keep history in General Ledger, you can print historical information on financial statements and compare historical-year amounts to open-year amounts.
You also can calculate budgets based on information from a historical year. Beginning balances The beginning balances for all posting accounts and unit accounts in your chart of accounts.
Transaction history A detailed record of all transactions that have been posted to each account. Use the Batch Entry window and the Transaction Entry window to enter beginning balances and history at the beginning of a fiscal year.
The balance brought forward into the fiscal year serves as the beginning balance for the accounts. Be sure to mark the appropriate options in the General Ledger Setup window for maintaining account and transaction history if you plan to keep either type of historical information.
You also must mark Allow Posting to History. For more information about setup options, see Setting up default entries and preferences. Open the Batch Entry window. You can enter batch control totals in the Batch Entry window to verify the number of beginning balance transactions entered or the total amount of the batch. Choose Transactions to open the Transaction Entry window, where you can enter beginning balance transactions.
With General Ledger you can post to the most recent historical year. The transaction date determines which period in the historical year the transaction will be posted to. When the transaction is posted, the amounts will also be brought forward to the open fiscal year to adjust the beginning balance for each account.
As transactions used to enter historical information are posted to the most recent historical year, beginning balances for each account will be calculated automatically. If you enter a debit and credit amount on the same line, the debit entry will be deleted automatically when you move to the following line.
You can use audit trail codes to trace the posting sequence of a transaction back to its origin. You must enter both historical information and current information. You can enter batch control totals in the Batch Entry window to verify the number of beginning balance transactions entered or the total currency amount of the batch. Choose Transactions to open the Transaction Entry window, where you will enter beginning balance transactions. Enter a transaction date that falls within the historical year.
Each balance sheet account should be listed as one line in the scrolling window of the Transaction Entry window. If you enter a debit and credit on the same line, the debit entry will be deleted automatically when you move to the following line. Enter another journal entry number, select Standard as the transaction type and enter a transaction date to begin entering accounts and amounts for current year activity.
If you plan to keep account and transaction history, enter each transaction from the current year as a separate transaction, using the exact date of the transaction. If you plan to keep only account history, enter a summary transaction for the activity in each previous period in the current year, using the last day of the period as the transaction date.
Choose Post. Audit trail codes enable you to trace the posting sequence of a given transaction back to the point it was originally entered in Microsoft Dynamics GP. Use the Account History window to enter summary amounts for each account. Even if you have historical information for each account for several historical years, you can only post information to the most recent historical year.
To enter history for earlier years, you must enter summary account information in this window. You also can use the Account History window to change or delete existing account history information for posting and unit accounts. Before entering account history for a particular year, you must set up the year and mark it as a historical year in the Fiscal Periods Setup window.
Open the Account History window. Enter the net change, either debit or credit, for each period in the selected year. The net change and period balance fields will be updated automatically. You can add, modify, or delete balances for an account for the selected period and currency. You also can use the window to calculate a functional currency amount for transaction activity for the selected account in a historical period by entering amounts and exchange rates in the originating currency.
The reconcile process would look for detail transactions but would not find any. The summary balances would then be set to zero. This document defines quick journals and explains how to use them. You can use the Quick Journal Setup window to set up a template for entering many different types of transactions. Quick journals are most effective for transaction entry when the accounts used in the transaction remain constant, but the amounts vary. For example, your company might make monthly cash disbursements for rent, utilities, telephone, and insurance expenses.
In the Quick Journal Setup window, you could set up a quick journal entry that includes all the accounts required to enter these disbursements.
Instead of having to reenter the accounts every pay period in the Transaction Entry window, you enter only the amounts for the selected accounts. Use the Quick Journal Setup window to create a quick journal, to make changes and add accounts to an existing journal or to delete a journal altogether. Open the Quick Journal Setup window. Enter or select a source document and enter a reference. Enter or select the offset account. The entire offsetting portion of each transaction entered in this quick journal will be posted to this account.
Mark the Allow Override option to enable users to override the default offset account when entering transactions. Only posting accounts, fixed allocation accounts, or variable allocation accounts can be offset accounts. Use the Quick Journal Setup window to delete quick journals. When you delete a quick journal, any unposted quick journal transactions using this quick journal also will be deleted.
An alert message will appear if there are unposted quick journal transactions. If you use deferral transactions frequently, you can set up deferral profiles, which are templates of commonly deferred transactions. Using deferral profiles helps ensure that similar transactions are entered with the correct information.
For example, if you routinely enter transactions for service contracts your company offers, and the revenue is recognized over a month period, you could set up a deferral profile for these service contracts, specifying the accounts to be used, and the method for calculating how the deferred revenue is recognized.
You can use two methods for posting the initial transactions and the deferral transactions: the Balance Sheet method, and the Profit and Loss method. For an illustration of this method, see Balance Sheet posting example. Profit and Loss Using the Profit and Loss method, you can identify up to five accounts, which allows greater detail in financial reporting than the Balance Sheet method.
These accounts are three Profit and Loss accounts, and two Balance Sheet accounts. An account used for reversing the deferred revenue or expense this can be the same as the original account. An account used for recognizing the deferred revenue or expense again, this can be the same as the original account. A deferrals account to record the full deferred balance transferred from the original revenue or expense account.
Once you have selected a deferral posting method for a series and posted deferral transactions, we recommend that you not change the deferral posting method. When you defer this transaction using the Balance Sheet posting method, the full sales amount is posted to the deferrals account, rather than the sales account that would be used for non-deferred revenue.
The initial transaction is posted as follows:. The deferral transactions for each month created for this deferred revenue would appear as follows:. Three Profit and Loss accounts, and two Balance Sheet accounts are being used for the deferral. The full sales amount is posted to the usual sales account, as follows:.
However, when you defer this transaction using the Profit and Loss posting method, a second entry is also created that reverses the Sales account entry and transfers the full balance to the deferrals account. The balances for the Profit and Loss accounts at the end of the deferral period will appear as follows:.
The balances for the Balance Sheet accounts at the end of the deferral period will appear as follows:. You can use the same account for the original sales, deferred sales, and sales recognition accounts, and for the deferrals and deferrals transfer accounts. However, if you use a different account for each, you can identify the amounts for reporting purposes. Enter the next batch number you want to use for deferral transactions, the source document code, and the next transaction number. Select the default method you want to use to calculate the allocations for deferral transaction amounts.
The Miscellaneous method allows you to specify the length of the periods and allocates an equal amount per period.
Indicate whether you want to automatically post deferral transactions through General Ledger, and to closed future or previous fiscal periods. Indicate whether you want deferral transactions for the Sales and Purchasing series to use the Balance Sheet or Profit and Loss method for posting the initial and deferral transactions.
For more information, see Deferral posting methods. Specify whether you want to void the associated original transaction when any deferral transaction is voided. Indicate whether you want all users to have access to deferral profiles, or if you want to limit access based on user or user class. For more information, see Setting up a deferral profile. Indicate whether you want the deferral posting reports to be printed and specify whether you want them sent to the printer, displayed on screen, or both.
Choose Warning Options to set up options for warning users about assigning deferrals to specific distribution types. For more information, see Selecting deferral warning options. Use the Deferral Warning Options window to select the warning options you want to use to help prevent users from attaching deferrals to incorrect distribution types.
For example, you could set up the warning options for Sales Order Processing so if a user attempted to defer the CASH distribution, a warning would appear. Selecting these options does not block a user from attaching a deferral transaction to an incorrect distribution type. A message will appear in this situation, but the user can post the transaction. Use the Deferral Profile Maintenance window to set up templates of commonly deferred transactions. Open the Deferral Profile Maintenance window.
Select the modules the profile is to be used with from the list. For example, you might want to use a service contracts profile with Receivables Management and Sales Order Processing. Select the accounts you want to use to defer and recognize the revenues or expenses. Depending on the option you selected for overwriting distribution accounts in the Deferral Setup window, you may be able to mark the option to enable an account to be changed. Select the method to calculate the deferral amounts across each period, the date of the first allocation, and the number of fiscal periods to allocate the transaction over.
If you chose to limit access to profiles to specific users or user classes in the Deferral Setup window, choose User Access to select the users or user classes who can use this profile. You can also select the information on a profile you want users to be able to change.
For more information, see Setting access to a deferral profile. Use the Profile User Access window to limit access to a profile to specific users or user classes. You can also specify which information on a profile you want users to be able to change. For example, you can enable some users to change the start date and number of periods for a deferral transaction, but not the deferral or recognition accounts, and you can enable other users to change the deferral and recognition accounts.
In the Deferral Profile Maintenance window, enter or select the profile you want to set access for, and choose User Access to open the Profile User Access window. Indicate whether you want to grant access to the profile to the users you specify, or to the user classes you specify. Enter or select the user or user class you want to have access to the profile and mark the option to enable access.
If you mark this option, this profile will appear automatically when the user uses deferral profiles during transaction entry. Mark the types of information you want the user or members of the user class to be able to edit during deferral transaction entry.
For example, you can start building your budget in Microsoft Dynamics GP based on your account framework, then export the budget to Excel to add formulas and explore forecasting scenarios.
Finally, you can import the budget into Microsoft Dynamics GP to be used in the accounting system. To change the order budgets are listed in the Budget Selection window, click the arrow in the scrolling window title bar, then select to sort items by Budget ID or by Description.
Choose New to open the Budget Maintenance window. Refer to Creating a single-account budget for more information. To open a budget with Excel, choose Open and select using Excel. You also can use the Budget Selection window to delete a budget. Choose Delete. Choose Yes to delete the budget or choose No to cancel the process. The wizard helps you choose the framework for the budget, the calculation method for amounts, and the account types and ranges to include in the budget.
Later, you can import the budget into Microsoft Dynamics GP. The Budget Calculation Method window includes four calculation methods. Although each budget calculation method is different, the steps for using the wizard will be roughly the same for each one. Open Year Percent This budget method calculates budget amounts based on a percentage of actual amounts in an open year. For example, you can build a budget by selecting an open year, such as , and entering a percentage by which to increase or decrease the amounts for the new budget.
Other Budget Percent This budget method calculates budget amounts based on a percentage of amounts in another budget. To use this method, select an existing budget, indicate whether the amounts will be increased or decreased, and enter the percentage by which to increase or decrease the amounts. Historical Year Percent This budget method calculates budget amounts based on actual account balances of a previous, historical year.
The amounts can be increased or decreased by a percentage you specify. Blank Budget This budget method calculates no budget amounts but provides you with a blank Microsoft Excel budget spreadsheet. You can choose fiscal years from which to pull actual amounts. Three types of accounts are available for use in Microsoft Excel budgets: balance sheet accounts, profit and loss accounts, and unit accounts. Profit and loss accounts Profit and loss accounts are for revenues and expenses. Unit accounts Unit accounts do not track dollar amounts but track other amounts such as the number of employees.
Unit accounts are used to accurately distribute the revenue or expense from another account, set up to cover all the employees, departments, or other units, in the unit account. You can choose to include any or all of these account types. Depending on the budget you want to create, you might not want to include all of the information. The new budget will be a new worksheet that can be part of an existing workbook, or a new workbook.
You can add budget amounts in this worksheet and import the budget into Microsoft Dynamics GP. This procedure uses the Open Year budget calculation method.
Creating budgets using other budget calculation methods is similar, but differences are noted. Select whether to base the budget on a fiscal year or a date range. If you base the budget on a date range, specify a range that crosses one or more fiscal years.
See Calculating budgets that overlap fiscal years for more information. If you want to restrict access to the budget with a password, choose the padlock icon button to open the User Password Setup window.
Highlight a budget calculation method to view its description. When you have selected the method you want to use, choose Next to open the Open Year Percent window.
The following steps assume you selected the Open Year Percent budget calculation method. All of the steps are essentially the same for each method, except Blank Budget. Differences are noted in the following steps. If you selected a budget method other than Open Year Percent, the name of the window will be different.
Information in the windows will be the same, except you will select a specific budget or a historical year instead of an open year. Select the open year you want to use as the basis for your new budget. Select the type of change to be made and enter a percentage of increase or decrease.
Press TAB to exit this field and enable the Next button. Choose Next to open the Actual Amounts Selection window. Select the years with the amount information to use. A separate Microsoft Excel worksheet will be created for each year you select. Worksheets will be in the same order you select them in the Actual Amounts Selection window, so if you want them to appear in the workbook in a specific order, be sure to select them in order.
Select the accounts for the budget. You can add all accounts of the account type you selected, or you can restrict the range of accounts. Select a segment for sorting the accounts. Enter or select the starting and ending segment numbers in the range, then choose Insert to add them to the scrolling window.
Mark the accounts to include in the budget. All accounts will be marked, but you can clear the option for any account to exclude it from the budget. The Accounts Lookup window will open. Select the account to add. Select the workbook for your new budget worksheet.
You can create a new workbook or add to an existing one. Review your selections, then choose Finish to complete the budget. The wizard will build a new budget worksheet and fill the columns with budget amounts from the accounts you selected, adjusted by the percentage you specified. When a worksheet is created using the budget wizard or when an existing budget is exported to Microsoft Excel, the worksheet must have the following standard layout:. Columns D and columns beyond list the period budget amounts.
0コメント