General Ledger Operations AgVantage ® Software National Conference June 22-24, 2010 Rick Prinsen.
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Transcript of General Ledger Operations AgVantage ® Software National Conference June 22-24, 2010 Rick Prinsen.
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