General Ledger Operations

AgVantage® Software National Conference

June 22-24, 2010Rick Prinsen

General Ledger Operations

• Generating a Trial Balance & Transferring to Excel

• Adding/Editing/Posting Journal Entries• Entering/Adding/Posting Inventory Adjustments• Allocation Setup• Budgets• Opening/Closing Fiscal Periods• Creating New Fiscal Year• End of Year Balance Roll

Transferring Trial Balance to Excel

Verify Trial Balance will be

held in your print spool.

4. Accounts Receivable 9. Setup File Maintenance 17. Print Override File Maint.

Transferring Trial Balance to Excel

Transferring Trial Balance to Excel

Page Down to Second Screen.

Generate Your Trial Balance

1. General Ledger

3. Report & Inquiry

1. Trial Balance

Transferring Trial Balance to Excel

• Double click on iSeries Navigator on your desktop, or choose in Start, All Programs.

• Depending on your connection this may take a few seconds to load.

Transferring Trial Balance to Excel

• In Right window click on Basic Operations.

• Next Click on Printer Output

• This then loads your spool files from the iSeries.

Transferring Trial Balance to Excel

• Highlight the row that the User Specified Data is GLS51T. This is your trial balance

• Hold down your left mouse button & drag & drop to your Desktop. Close the iSeries Navigator box.

• On your desktop double click the icon, this will open in Wordpad or Notepad depending on the size of your file. You can view this, attach to an email or open in Excel.

Transferring Trial Balance to Excel

Adjust Columns

FINISH

If you open in excel you’ll have to Maintenance file 1st via Text Import Wizard

Transferring Trial Balance to Excel

Make any column/formatting

changes as needed once

brought into excel.

Transferring Trial Balance to Excel

1. General Ledger

4. Journal Processing

1. Add/Change Journals

Adding/Editing/Posting Journal Entries

F6 = Add Batch

Batch Types

-GJ General Journal

-RJ Recurring

-RV Reversing

Adding/Editing/Posting Journal Entries

Enter the FollowingG/L Posting DateG/L Posting MonthFiscal YearJournal Code – Will Default to GJ

Adding/Editing/Posting Journal Entries

Must Be Y

to

generate

reversing

entry

Adding/Editing/Posting Journal Entries

All Required Fields

Adding/Editing/Posting Journal Entries

Print and Check EditBefore Posting Journal Entry

After you’ve verified your editPost Journal Entry to Ledger

Journal Processing MenuOption 2 Print Edit of JournalsOption 3 Post Journals to G/L

Adding/Editing/Posting Journal Entries

Reversing Entries

New Batch will automaticallyCreate to next posting period

Edit this batch verify totalsthen Post.

Adding/Editing/Posting Journal Entries

Entering/Editing/Posting Inventory Adj.

Acct. to be adj.

Beginning Inventory Amount – leave blank prior months balance will be used

Ending Inventory Amount – actual value of inventory, may also enter qty

Actual – Enter A for actual when not calculating estimated margin %

A

Entering/Editing/Posting Inventory Adj.

Monthly Sales $5,515.00

Margin 15%

Multiple Sales by 85%

Adj.Cost of Sales $4,687.75

Monthly Cost of Sales $5,000.00

Adj. Needed $312.25

Debit Inventory Account

Credit Adjustment Account

Entering/Editing/Posting Inventory Adj.

Journal Processing Option

7 Edit Inventory

Adjustment

G/L Location 001 = all

locations

INVENTORY

ADJUSTMENTS CAN

NOT BE POSTED BY

INDIVIDUAL

LOCATIONS.

Entering/Editing/Posting Inventory Adj.

Journal Processing Menu Option 8

Post Inventory Adjustments

Posting of your Inventory

Adjustments should only

be done once a month. All

locations post at the same

time and may not be done

individually

Entering/Editing/Posting Inventory Adj.

1st Verify Financial Statements areSetup to Use Allocated Files.

Financial Reporting Menu Opt 1 Define Financial Reports

General Ledger Allocations

1. General Ledger5. Financial Reporting8. Add/Change G/L Allocation

Enter a 4 digit year to allocate

Enter General Ledger Number you WishTo Allocate.

Keep in Mind AllocationsAre For Financial ReportingOnly and do not Post anything to General Ledger.

General Ledger Allocations

Enter Location and General Ledger you Wish to allocate and the %.

Must = 100%

General Ledger Allocations

May Enter a Specific % for eachPeriod. Default % will be used ifIndividual periods are not specified

General Ledger Allocations

Verify Report All Periods Must= 100%

General Ledger Allocations

General Ledger Allocations

Y if you want to convert all monthly Percentages to the Default %

N if you entered different percentages For the different periods throughout the Year and want to use those for the new Fiscal Year.

General Ledger Allocations

1. General Ledger

6. Budget Control

1. Maintain Budgets

Budget Control

Enter Fiscal Year

Location Number

Account Number

Budget Control

Enter Budget Amount

Quantity

Debit/Credit

Note: If a Credit BalanceBudget Amount MustBe entered as a negativenumber

Budget Control

To Average an Amount throughoutThe periods enter inThe Budget AmountAnd then Press F6

Will Average both AmountAnd Quantity (if entered).

Budget Control

To Duplicate an Amount Or Quantity Throughout the Periods

Enter the Budget AmountAnd Quantity

And then Press F7

This will duplicate theAmount for all periods.

Budget Control

To enter/maintain for a Specific period, tabDown to the period and enter the amount in the correct column.

Debits are entered as a (+) number

Credits are entered as a (-) number

Budget Control

To Mark an AmountUp/Down from ActualsOr Budgets for any yearUse F15

Enter Fiscal YearActual / BudgetPercentagePlus or Minus (added or subtracted)

Budget Control

Budget Forecast

Select InformationTo print for the BudgetForecast.

A series of pop-up windowsAppear.

Print all or one locationFiscal YearAccount Type Selection

Budget Control

Budget Worksheets

Prints the Actual BudgetWorksheets

Budget Control

Used to drop ALLBudget Records forA Given Year.

Be Careful once you Purge a Fiscal YearIt is gone.

It is not required to Purge a budget year.

Recommend to keep On file. Especially if You wish to go back and Compare Prior years.

Budget Control

After you’ve enteredYour Allocations andBudget amounts be sure to Update Files for FinancialsTo reflect these amounts.

Update Files for Financials

1. General Ledger

7. General Ledger Processing

1. Close/Open Fiscal Period

Fiscal Year ...... 10

Page Up/Down toSelect Period

Opening / Closing Fiscal Periods

1. General Ledger

1. Master File Maintenance

7. Fiscal Year Control

Enter Fiscal Year You Wish to Create

Creating a New Fiscal Year

1st Verify all periods are closed for Fiscal Year you’reclosing.

2nd Verify New Fiscal Year is Created.

Roll Balances to Next Fiscal Year

1. General Ledger

7. General Ledger Processing

2. Roll Balances to next Fiscal Year

Balances May Be Rolled Multiple Times

Roll Balances to Next Fiscal Year

Questions?

General Ledger Operations

Thank you for attending.

General Ledger Operations