2016 Amtech User Conference

HighVelocityClosingSueHahn

Let’sStartwithaSurvey

• WhoClosestheirBooksin:• Over30Days?• Over3Weeks?• Over2Weeks?• Over1Week?• WithinaWeek?• 3Days?• 2Days?• 1Day?

Sessiondescription

• TheImaginerasystemisfulloftoolstoassistyoutoClosetheBooksin24hours.

• InthissessionwewilldiscussthevariousoptionsavailableintheprogramtohavemanyofyourcurrentProcessesbecomemuchmoreautomated.

• Thiswillassistyouwithstreamliningtheprocess,fromAutomaticGLCodinginthePOmodule,throughCodingRawMaterialsinJobCosting,andPeriodicInventoryCountingusingTopGun.

• Useoftheseprocesseswillhelpyourpeopleworkmoreefficientlyandmostimportantlywithaccuracyofentriesforbothyoursalesandpurchases.

• WealsowillreviewvarioustipsandtricksspecificallyforyourAccountingpersonnel,toassistthemintheirdaytodayprocess,aswellasfindingandusingthecorrectreports,usingrecurringjournalentriestoautomaticallyenteraccrualseachmonth,andexportingdataforfinancialstatements,aswellassomeexcitingnewfunctionalityaddedinthe3.2sr1version.

OtherModulesthathelpyouSpeedupClosing

TopGunReceiving

PhysicalCount

Sign&Drive

MobileForceSales(RGA/Quality)

• Enableuserstostreamlineaccountingfunctionsandmonthendclosetogettimelyandaccuratefinancialstatements.

Purpose– Fittingallthepiecestogetherinatimelyfashion

Purchasin

g

JobCosting/Inventory

Financials

Delivery/Invoicing

Purchasing

Delivery/Invoicing

JobCosting/Inventory

Financials

Purchasing

• CloseOpenPurchaseOrders–• AutoClosePOinA/P– ifflagischecked,systemwillautoclosePOsthathavebeenreceivedandcompletelyprocessedthroughA/P.

• ManuallyclosePOs- WhenyouruntheclosePOoptionthislooksforPO’smarkedcomplete.

• RunthePurchasePriceVariancereportinthePurchasingmodule.Thisreportcanbeusedtoanalyzevariancesforthemonth.Thisisoptional.

• RunthePOAccrualsreceiptreportafterinvoiceentryintheA/Pmodulehasbeencutoffforthemonth.ThisreportwilltellyoupurchaseordermaterialsreceivedbutnotinvoicedinA/P.Usethisreporttomaketheaccrualentryasneeded.

Tips&Tricks

• SheetPurchaseOrders• POwilluseG/LcodeassignedtofirstexpenselineinVendortable

POAccruals ReceiptReport

• Usedtocreatemonthendaccrualjournalentry

Inventory

• EnsureallproductreceivedpriortomonthendcutoffarereceivedthroughPOReceiving.• Willneedtocreatemanualjournalentriestoreconciletheinventoryaccountsatmonthendeitherusinginventoryreportstobaseanetchangeinventoryadjustmententryorjobcostreportsforamoredetailedbreakdown.• InventoryValuationReports– shouldberunafterproductionforthemonthhasceasedandbeforethenewmonth’sproductionhasstarted.youcanrunreportssuchasItemSummaryAsOfwhichallowyoutouseaspecificdate.

Tips&Tricks

• MaterialCostTypes• AssigntoPurchasedItems(ItemWarehouseRecord)

• AutoassignG/LinPurchaseOrder

• MinimizesG/LcodingerrorsonP.O.s

• EliminateskeyingofG/LcodeinA/P

• CategorizesexpenseforJobCostingpurposes

Inventory

• InventoryAdjustmentsReport – UsereporttoadjustG/Laccountsformiscellaneousadjustmentsmadeininventory.

JobCost

• CloseJobstimely• M/Ejobsthathavenoadditionalcoststopostshouldbeclosed.

• ClosingdatemustbewithinthecurrentG/Lperiod

• Toclosejobs

• JobCost>View>ShowJobsEligibleforClosure>search• Selectjobs• Actions>CloseSelectedJobs

JobCost

• MaterialsRegister – UsemoverawmaterialscostinG/LtoWIPaccount.

• ConversionRegister – Usetocontraexpenseaccountsmovelaborcostfordirectlabor,variableand

fixedoverheadtoWIPaccount.

• FinishedGoodsRegister – UsetomovecostsfromWIPG/LaccounttoFinishedGoodsaccount.

• CostofGoodsSold – UsetomovecostsfromFinishedGoodsG/LaccounttoCostofGoodssold

accounts.

• ClosingAdjustments – UsetoadjustWIPG/Laccounttomovevariancestovarianceexpenseaccounts.

• WIPValuation – BalanceendingG/LaccountbalanceforWIPtovaluationreport.

JobCost

�ClosingAnalysis- Analyzejobperformanceandvariances�Variancescanbeanalyzedtodeterminewhetherestimatingisaccurate�AdjustmentsRegister

� VariancefromEstimatedcosts� CanbebookedtoCOGS

�ConversionRegister� Reportingalllabor?� Checkaccuracyofestimatingrates

�ClosedJobDetail� Plannedcontributionvs.actualcontribution

�CostDetailAnalysis(PrintthroughInvoicing>SalesAnalysis)� Comparesellingpricevs.contributionatstandard

Delivery

• DRUsageReport– checktomakesureDeliveryReceiptshaveallbeenpostedtoinvoicing.ClickonReportsintheShippingHistoryscreen.DR’swithaPrintedandApprovedstatusshouldbepostedtoinvoicingiftheshipdateisinthecurrentpostingperiod.

CompanyInvoicingScreen

• Alwayshavetaxcomefromshipto• 3.2Cannowaddgenerictexttotheinvoice

Invoicing(customerbilling)

—Invoicing(Sales)• ShipmentsNotInvoiced- generatedfromPrintbutton

• OtherKeyReports• AccountDistributionreport– shouldtietoG/L• InvoiceRegister– shouldtietoAccountDistributionreport• SalesTaxReportbyState• SalesAnalysisreports– shouldtietoinvoiceregisterbutmaynotnecessarilytietoG/L

CheckDropShips

• CheckthePostDropShiptoInvoicingscreentomakesurealldropshipshavebeeninvoicedforthemonth.

CheckConsignmentOrders

• IfusingConsumptionOrders(newfunctionalitytotrackconsignmentinventoryandinvoicecustomersforusage)

• runthePostConsumptionOrderstoInvoicingproceduretomakesureallconsumptionordershavebeeninvoicedforthemonth.

AccountsReceivable

• CashReceiptsreportshouldbalancetodepositandbeposteddaily.

• G/LDistributionReport– shouldbalancetozero

• AgedTrialBalanceand/orOpenReceivables– shouldbalancetoG/L

BankReconciliation

• BankReconciliation- UndertheentryoptiononthemenubarselectCheckReconciliationforbothARandAP

• ReconciledandUn-reconciledChecksreportscanbeusedtoreconcilethebankaccountstotheGeneralLedgertrialbalance

• Markthedeposit/checksthathaveclearedthebank.

• CanexportthedatafromthecheckreconciliationscreenintoaMSExcelspreadsheettofacilitatecompletionofabankreconciliation.

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ExportingDataforBankRec.

• ToexportdataintoExcel,highlightthelinestoexport,andselectEdit>Copy.OpenupanewExcelspreadsheetandselectEdit>Paste.

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AccountsPayable

—KeyReports

• PayableItemsreport(PurchasesJournal)shouldbeposteddaily.

• AgingofPayablesreportand/orOpenPayables– shouldbalancetoG/L

• G/LDistributionReport– shouldbalancetozero

Tips&Tricks

• AutomaticallydefaultGLaccountfortax,freight,&otherchargesfromthePOtoinvoiceentry.

• AutoclosePOfromAPmodulewheninvoicedandreceivedcomplete.

• Savedataentrytimebyhavingthesystemdefaulttheprice&quantityreceivedfromthePO.

• Inmulti-plantenvironmenthavesystembreakoutcheckrunsbasedonplant.

Tips&Tricks

• A/Pprocessing• SearchbyVendorReceiptNo.(BOL)orASNNo.forpullingalllinesforinvoicingatonce

GeneralLedger

• TrialBalance– mustrunUpdatetoSummarytoseedata

• DetailbyCodereport– canruninDrillDown(Detailed)andSummaryVersions

• DetailbyTransactionreport– canseeoneormorejournalentries

• FinancialStatements

GeneralLedger

RecurringJournalEntries– StandardAccruals• Professional/Legal• Monthlydepreciation• Property/MedicalInsurance

ExportingData

• Manysalesanalysisreports• A/RAgedTrialBalancereport• A/PAgingofPayablesreport• G/LTrialBalance• G/LFinancialStatements• G/LDetailbyCodereport

• In3.2SR1,mostGL/AP/ARreportsareabletobeexportedtoEXCELforanalysis.

• FinancialStatements(BalanceSheets,IncomeStatements,ExpenseSchedules)canbebuiltintheG/Lmodule.

• Astatementformatmustbecreatedforeachtypeofstatementdesired– thisiswhereyoudefinetheappearanceofthestatement,controlhowthestatementtotals,andmapG/Laccountcodestolines.

• AnotheroptionistoexportaTrialBalanceintoa.csv file,exporttoMSExcel,thenbuildyourowncustomizedfinancialstatementsthataremappedtospecificcells.

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FinancialStatements

• Musthavetwonon-reportingaccountcodesbuiltinyourchartofaccounts–thesedoNOTgetmappedtoyourfinancialstatements:• Non-reportingLiabilityaccountcode.• Non-reportingIncome(Loss)accountcode.

• Closeoutthelastpostingperiodofyourfiscalyeartodeterminenetincome(loss)fortheyear.

• Twojournalentriesareneededtomovethenetincome(loss)fortheyearintoRetainedEarnings.

YearEndAccountingClose

• Thefirstjournalentrywillbeenteredinthelastpostingperiodofthecurrentfiscalyear– thiswillmovethenetincome(loss)intothenon-reportingliabilityaccount.

• Thesecondjournalentrywillbeenteredinthefirstpostingperiodofthenewfiscalyear– thiswillmovethenetincome(loss)fromthenon-reportingliabilityaccountintoRetainedEarnings.

YearEndAccountingCloseCont.

Questions

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