Synergy Business Solutions Ltd General Ledger Manual Page 2 · Synergy Business Solutions Ltd...

Synergy Business Solutions Ltd General Ledger Manual

"This Manual is continually being updated with more specific information. If you see an area you think needs more explanation or have any suggestions on content, please don't hesitate to contact us at [email protected] with your ideas."

Copyright © 1995-2010 Synergy Business Solutions Ltd

Table of Contents

General Ledger ............................................................................................................... 3

Working Flow .................................................................................................................. 4

Hot Keys ........................................................................................................................ 5

General Ledger - Transactions ....................................................................................... 5

General Ledger - Tasks ................................................................................................ 5

Transactions ................................................................................................................... 6

New Batch .................................................................................................................. 7

Batch List ................................................................................................................... 9

Tasks ........................................................................................................................... 11

Analysis Codes .......................................................................................................... 12

New Analysis Code..................................................................................................... 14

New Report Category ................................................................................................. 16

Budgets .................................................................................................................... 17

Post to GL (AR) ......................................................................................................... 19

Post to GL (AP) ......................................................................................................... 20

Post to GL (Cashbook) ............................................................................................... 21

Close Financial Year ................................................................................................... 22

Reports ........................................................................................................................ 23

Financial Reports ....................................................................................................... 24

Transaction List ......................................................................................................... 26

Trial Balance ............................................................................................................. 28




General Ledger

The General Ledger module is designed to provide complete financial information for you to best manage your business. The purpose of the General Ledger is to ensure that all debits equal all credits. All transactions in

General Ledger are created in batches, which must always balance. Reports include Financial Reports, Transaction Lists and Trial Balance.




Working Flow




Hot Keys

Hotkeys are keyboard shortcuts used to access important areas of Synergy quickly. Hold down the Alt key on your keyboard and the relevant letter simultaneously. A list of hotkeys are available from the links below. Alternatively, a hotkey is indicated within Synergy by an underlined letter. For example, within Accounts Receivable New Quote is underlined, as so. Hold down Alt and the letter Q on your keyboard to open the New Quote screen.

General Ledger - Transactions

Function Hotkey

Batch List Alt + L

New Batch Alt + B

General Ledger - Tasks

Function Hotkey

Analysis Codes Alt + A

Close Financial Year Alt + I




Transactions

Items Description

New Batch This area allows you to create a new batch.

Batch List This area allows you to create a new batch, or view, delete, edit or print an existing batch. You can search by Number, Date, Description, Source and Finalised Date by clicking on the corresponding column header.

Note: Most of the Default Periods of the Transactions section of the General Ledger module will be the current month, if today is still in the current month. If today is not in the current month, it will be the last day of the current month.




New Batch

This area allows you to create a new General Ledger batch. This is helpful if you want to enter things such as depreciation or stock valuations that do not directly impact on Accounts Receivable, Accounts Payable or Cashbook. Note: The total must equal $0.00.

Creating a New Transaction Batch

Items Description

Date

Displays the date for this batch. This can be changed by entering a date or selecting

a date from the drop down calendar. Note: If today is in this General Ledger financial year, the default date is today. Otherwise it is the beginning of this General Ledger financial year. You can manually alter the date to create batches in both prior and future periods. This will result in the need to re-run reports.

Description A description to identify the particular batch.

Type

Select a batch type from the drop down list:

Normal - A normal batch will be created.

Repeat - The same repeat batch will be created in the next month automatically, after you finalise this batch.

Reverse - A normal batch with the reversed amount will be created in the next month automatically, after you finalise this batch.

Source Shows which module the batch was created in.

Code Press F2 to select an analysis code.

Description After you select an Analysis Code, the description will display automatically. Note: It is Read Only.

Source This displays which module the batch was created in. Note: It is Read Only.

Amount For debit transactions enter the amount alone. For credit transactions enter a negative amount, i.e. -299.95.

Reference Enter a transaction reference.

Comment Enter a description for the transaction, i.e. Movement in Debtors (AR).

Name This is simply another reference field if required.

Accept Select this to confirm the line you have entered and move to the next line.

Clear Select this to clear the line you have entered.

Analysis Code Select to go to the Analysis Codes screen where you can create new analysis codes




and/or report categories.

Save

This will retain the General Ledger batch in your system. Note: If the batch has been saved, all GL reports will not be changed yet, only after it has been finalised. You can only view, edit or delete after it is saved.

Finalise This process checks that all lines have valid codes and that the batch total is zero. Note: Once the batch has been finalised, all GL reports will be changed. You can only view, but not edit or delete it, once it has been finalised.

Cancel Return to the previous menu.

To create a New Transaction Batch:

1. Select “New Batch” from the General Ledger Transactions menu. Alternatively, select “Batch List” from the General Ledger Transactions menu, then choose “New”.

2. Enter the relevant details. 3. Select “Save” or “Finalise”.

How to stop a repeated batch repeating again and again? To stop a repeated batch repeating again and again:

1. Select "Batch List" from the General Ledger Transactions menu. 2. Select the repeated batch from "Batch List" then choose "Edit". 3. Change the "Type" from "Repeat" to "Normal," then choose "Save" if you still need this batch

in the next month. Alternatively, select the repeated batch from "Batch List" then select "Delete" if you do not need this batch in the next month.




Batch List

This area allows you to create a new batch, or view, delete, edit or print an existing batch. You can search by Number, Date, Description, Source and Finalised Date by clicking on the corresponding column header. Note: Clicking on the headings of No. and Date will sort all batches by the selected heading decreasingly or increasingly. Clicking on the headings of Description will sort all batches by Description alphabetically.

Items Description

From/To

Set the date range which you wish to report. The default period is from the beginning of year that is three years back from this actual year, to the end date of this financial year. It can be changed by entering a date or selecting a date from the drop down calendar.

Show All/Finalised/Unfinalised

Show All - Shows all batches.

Finalised - Only shows finalised batches.

Unfinalised - Only shows unfinalised batches.

New Create a new batch.

Edit/View This displays "Edit" when you select an unfinalised batch. It displays "View" when you select a finalised batch. Note: You only can edit an unfinalised batch. Once a batch is finalised, you only can view it.

Delete Delete an unfinalised batch. This is invisible if you select a finalised batch. Note: You can only delete an unfinalised batch.

Print Batch Print the batch report you selected.

Close Return to the previous menu.




Creating/Editing a Batch Refer to New Batch.

Deleting a Batch To delete a Batch:

1. Select "Batch List" from the General Ledger Transactions menu.

2. Select a batch and choose "Delete."

3. Confirm that "Yes" you wish to delete the selected batch.

Printing a Batch To print a Batch:

1. Select "Batch List" from the General Ledger Transactions menu.

2. Select a batch and choose "Print Batch."

3. The Batch Report will display. Select the printer icon to print.




Tasks

Items Description

Analysis Codes

This section allows you to set up the details of all accounts (Analysis Codes and Report Categories) such as description, account type, account code, GST type, etc.

Note: It is strongly recommended that your accountant helps to set up

your Analysis Codes. Once an Analysis Code has been used in the system, it cannot be deleted.

Budgets Allows budgets to be entered against Analysis Codes.

Post to GL (AR) This process will transfer all unposted Accounts Receivable transactions (including invoice, credit notes and journals) in the current month to the General Ledger. Note: This process is irreversible.

Post to GL (AP) This process will transfer all unposted Accounts Payable transactions (including invoice, credit notes and journals) in the current month to the General Ledger. Note: This process is irreversible.

Post to GL (Cashbook) This process will transfer all unposted Cashbook transactions (including invoice, credit notes and journals) in the current month to the General Ledger. Note: This process is irreversible.

Close Financial Year

This will close the current financial year. This process is irreversible by users! Before closing the financial year, you should take a backup of data and print all Transaction reports, the Trial Balance Report and all Financial Reports.




Analysis Codes

This section allows you to set up the details of all accounts (Analysis Codes and their Report Categories) such as description, account type, account code, GST type, etc. Note: It is strongly recommended that your accountant helps to set up your Analysis Codes. Once an Analysis Code has been added in the system, it cannot be deleted. There are some points to keep in mind when setting up your Analysis Codes:

1. Header, Sub Total and Total accounts cannot be edited.

2. You cannot add a Header Account in the system.

3. When you add a new Report Category (Sub Header Account), you need to select which Header Account you want to add it to.

4. When you add a new Report Category (Sub Header Account), its Sub Total Account will be created automatically.

5. When you want to add a new Analysis Code (Detail Account), you need to select which Header Account or Sub Header Account you want to add to.

Items Description

Select Reporting Section Select whether to show All Accounts or a particular account from the drop down list.

Search by Analysis Code Enter a particular keyword or part of a keyword to find the first Analysis Code in the list that meets your search criteria

Hide Discontinued Enter a Particular keyword or part of a keyword to find the first Analysis Code in the list that meets your search criteria.

Table

Displays your selected report structure and all accounts and their details that are used in your selected report and sorted by report order. Such as Total Accounts, Sub Total Accounts, Analysis Codes and Report Categories for the Selected Reporting Section.

Print Analysis Codes Prints all Analysis Codes in order by the selected option:




Order by Analysis Codes; Order by General Ledger Description; Order by Cashbook Description; Order by Report Order; Order by Accountant Code.

Print Codes by Section Prints Analysis Codes by the selected section (select from the drop down list in the left top box). It displays the structure of the different financial reports.

New Analysis Code Allows you to create a new Analysis Code. Note: You need to select which Header Account or Sub Header Account you want to add to a new Analysis Code to first.

New Report Category

Allows you to create a new Report Category. After you add a new Report Category (Sub Header Account), its Sub Total Account will be created automatically. Note: You need to select which Header Account you want to add the new Report Category to first.

Edit

Allows you to edit Analysis Code details or Report Category details.

You will not be able to change its Report Order or the actual Analysis Code

Note: You cannot edit Header Accounts, Total Accounts or Sub Total Accounts.

Close Return to the main menu.




New Analysis Code

Creating/Editing an Analysis Code

Items Description

Report Category Displays the Report Category (Header or Sub Header) which the analysis code belongs to. Note: It is Read Only.

Report Order

Allows you to enter the report order you want. The default order is the order of its Header or Sub Header Account adding 5, or the last Analysis Code (Detailed Account) under the same Header or Sub Header Account adding 5.

Note:

When creating an analysis code, you must enter a report order within

the order range from its Header or Sub Header Account to its Total or Sub Total Account.

Once the Report Order for an analysis code has been saved, it cannot be changed. So it is Read Only when you are editing an analysis code.

Analysis Code This unique reference can be alpha or numeric. Note: Once an analysis code has been set up, you cannot delete it in system. It is Read Only when editing an analysis

code.

Accountant Code A code is given by your accountant.

GL Description The name of the analysis code to be used in General Ledger.

GST Type Enter the GST Type for the Analysis Code, I = Inclusive GST, E = Exclusive GST, Z = Zero Rated.

Discontinued Select discontinued if you no longer want the analysis code to be available to process transactions against. Note: A discontinued analysis code will still be available in the reporting list if it has transactions against it.

Cashbook Setup

Enables the same codes to be available in both Cashbook and General Ledger. Note: If you do not do the Cashbook Setup here, you cannot run the Cash Flow Profit & Loss Report in Cashbook as each Analysis Code needs an Account Type allocated to it.

CB Description (Only available if Cashbook Setup is selected)




The name of the analysis code to be used in Cashbook. Note: If it is empty, CB Description will be saved as the same as GL Description.

Account Type (Only available if Cashbook Setup is selected) If the codes are to be used in Cashbook, you must choose a Cashbook Account Type.

Save Retains any changes.


To create/edit an Analysis Code:

1. Select "Analysis Codes" from the General Ledger Tasks menu or from the General Setup tab in the Company/Setup menu.

2. Select a Header Account or Sub Header Account, then choose "New Analysis Code." Alternatively, select the Analysis Code you want to edit and choose "Edit."

3. Enter/edit the relevant details of the Analysis Code in the fields.

4. Click "Save."

To change a Report Category for an Analysis Code:

1. Select Reporting Section

2. Select the analysis code you want to change

3. Click “Edit”

4. Click “Change” next to the Report Category

5. Click “Accept”

6. Click “Save”

7. Close Analysis Code window

8. Re-open Analysis Codes and check the change




New Report Category

Creating/Editing a Report Category (Sub Header Account)

Items Description

Report Header Displays the Header Account which the Report Category (Sub Header Account) belongs to. Note: It is Read Only.

Report Order Displays the order in the report. A default order will be given by system automatically. Note: It is Read Only.

Description (GL) The name of the code as used in General Ledger.

Description (CB) The name of the code as used in Cashbook. Note: If it is empty, CB Description will be saved as the same as GL Description.

Save Retains any changes.


To create/edit a Report Category:

1. Select "Analysis Codes" from either:

General Ledger Tasks menu

Company/Setup, General Settings tab

2. Select one of the options from the “Select Reporting Section” (excluding the “Show All Accounts” and “Simple View” option).

3. Select a Header Account, then click “New Report Category”. Alternatively, select the Report Category (Sub Header Account) you want to edit and client “Edit”.

4. Enter/edit the relevant details of the Report Category table.

5. Click "Save."




Budgets

Allows budgets to be entered against Analysis Codes.

Items Description

Edit Allows you to add/edit budget figures for the selected code.

Print Will print your budget. Note: The budget report will only display analysis codes which have budgets assigned in one of the three years. The report shows the total budget for the year.





Edit Budget

Items Description

Save Retains any changes to the budget figures that you have entered.


To enter/edit a Budget for an Analysis Code:

1. Select "Budgets" from the General Ledger Tasks menu.

2. Select the Analysis Code you wish to edit the budget for.

3. Select "Edit."

4. Enter the budget figures for This Year and/or Next Year.

5. Use the Enter or Tab keys to easily navigate through the fields.

6. Select "Save" to retain any changes made.

To print a Budget:

1. Select "Budgets" from the General Ledger Tasks menu.

2. Select "Print."

3. The budget will display. Select the printer icon to print. Note: The budget report will only display analysis codes which have budgets assigned in one of the three years. The report shows the total budget for the year.




Post to GL (AR)

This process will transfer all unposted Accounts Receivable transactions (including invoice, credit notes and journals) in the current month to the General Ledger. Note: This process is irreversible.

Items Description

Print Batch Tick this box to print the batch report automatically once you post Accounts Receivable transactions to General Ledger.

Post to GL Select to post all Accounts Receivable transactions, which are displayed in the list, to General Ledger. The General Ledger will be updated automatically.


To post Accounts Receivable Transactions to General Ledger:

1. Select "Post to GL (AR)" from the General Ledger Tasks menu.

2. Tick the "Print batch once General Ledger Updated" box if you want the batch to print automatically once posted.

3. Select "Post to GL."




Post to GL (AP)

This process will transfer all unposted Accounts Payable transactions (including invoice, credit notes and journals) in the current month to the General Ledger. Note: This process is irreversible.

Items Description

Print Batch Tick this box to print the batch report automatically once you post Accounts Payable transactions to General Ledger.

Post to GL Select to post all Accounts Payable transactions, which are displayed in the list, to General Ledger. The General Ledger will be updated automatically.


To post Accounts Payable Transactions to General Ledger:

1. Select "Post to GL (AP)" from the General Ledger Tasks menu or Month End Menu in the Accounts Payable Tasks menu.






Post to GL (Cashbook)

This process will transfer all unposted Cashbook transactions (including invoice, credit notes and journals) for a selected month to the General Ledger. Note: This process is irreversible.

Items Description

Select a month to post Select a date from the drop down list.

Print Batch Tick this box to print the batch report automatically once you post Cashbook transactions to General Ledger.

Post to GL Select to post all Cashbook transactions, which are displayed in the list, to General Ledger. The General Ledger will be updated automatically.

Close Select to return to the main menu.

To post Accounts Payable Transactions to General Ledger:

1. Select "Post to GL (AP)" from the General Ledger Tasks menu.

2. Select a month to post.






Close Financial Year

This will close the current financial year. This process is irreversible by users! Before closing the financial year, you should take a backup of data and print all Transaction reports, the Trial Balance Report and all Financial Reports. When you Close Financial Year, the system will check the following conditions automatically:

1. Check if there are any batches which are unfinalised and in the General Ledger this financial year. 2. Check if there are any Cashbook transactions which are unposted and in the General Ledger this

financial year, or are unfinalised and in the General Ledger this financial year. 3. Check if there are any Accounts Receivable transactions which are unposted and in the Accounts

Receivable current month and in the General Ledger this financial year, or are unfinalised and in the General Ledger this financial year.

4. Check if there are any Accounts Payable transactions which are unfinalised and in the Accounts Payable current month and in the General Ledger this financial year or are unfinalised and in the General Ledger this financial year.

If any of the above conditions are found, Close Financial Year cannot be done. You need to post those transactions to the General Ledger and finalise those batches, then run Close Financial Year again.

Items Description

Continue Select to proceed.


To Close the Financial Year:

1. Select "Close Financial Year" from the General Ledger menu.

2. Select "Continue" if you are sure you want to close the financial year.




Reports

Items Description

Financial Reports

These are a combination of financial statements that are used to analyse your business.

Profit and Loss Reports for Trading Accounts - Displays the gross surplus (deficit) and total of each accounts (Sales and COGS) for Trading Accounts for the specified period.

Statement of Financial Performance (Profit and Loss) -

Displays the net surplus (deficit) and total of each account (gross surplus from trading, other income, expenses, etc.) for the specified period.

Statement of Financial Position (Balance Sheet) -

Displays the balances of Asset, Liability and Equity accounts as at the end of specified period.

The Movement by Balance Sheet Accounts - Displays the

movement for Balance Sheet accounts for the specified period.

Transaction List This set of reports displays details of transactions for the specified period. It is reported listed by Analysis Codes, Accountant Codes and the transaction date.

Trial Balance This report displays the total of transactions for the specified period and Year to Date, and the opening and closing balances for the period.




Financial Reports

These are a combination of financial statements that are used to analyse your business.

Profit and Loss Reports for Trading Accounts - Displays the gross surplus (deficit) and total of each accounts (Sales and COGS) for Trading Accounts for the specified period.

Statement of Financial Performance (Profit and Loss) - Displays the net surplus (deficit) and total of each account (gross surplus from trading, other income, expenses, etc.) for the specified period.

Statement of Financial Position (Balance Sheet) - Displays the balances of Asset, Liability and Equity accounts as at the end of specified period.

The Movement by Balance Sheet Accounts - Displays the movement for Balance Sheet accounts for the specified period.

Note: You can only view Financial Reports from the beginning of your General Ledger's existence up to one year ahead of the current General Ledger Financial year. This may be different to your actual financial year.

Items Description

Report Type

Profit and Loss Reports for Trading Accounts

Statement of Financial Performance (Profit and Loss)

Statement of Financial Position (Balance Sheet)

The Movement by Balance Sheet Accounts

Trading Accounts You need to select a Trade Account only when you select Profit and Loss Reports for Trading Accounts. For other reports, this field is invisible.

Month and Year Select a Year and a Month to report by. The default month is the month of the latest finalised batch. You can change to any other month and year you wish.

Presentation Format

Year to Date - Display two periods, this Year to Date and the previous Year to Date.

Current Month and Year to Date - Displays four periods, Current

Month, Previous Month, this Year to Date and previous Year to Date.

12 Month Trend (Year to Date) - Displays the 12 Month Trend of Year to Date.

Print Analysis Codes Tick this box to include analysis codes in the report.

Include Budgets Tick this box to include budgets in the report




Preview View the report. You can print the report here once it is displayed.

Print Print the report without viewing it first.

Export Export the report in PDF or XLS (Excel) format to the file location of your choice.


To produce a GL Financial Report:

1. Select "Financial Reports" from the General Ledger Reports menu or the Report Centre.

2. Select the relevant details to display in the report.

3. Click "Preview" to view the report, "Print" to print the report without viewing it, "Export" to produce a Portable Document Format (PDF) or MS Excel spreadsheet (XLS) file, or "Close" to return to the main menu.




Transaction List

This set of reports displays details of transactions for the specified period. It is reported listed by Analysis Codes, Accountant Codes and the transaction date.

Items Description

Analysis Codes Available Displays all analysis codes available for selection. Any that you select will move to the right-hand list.

Analysis Codes Selected Displays all selected analysis codes which will show in the report.

From/To

Set the date range which you wish to report. The default period is the whole year of

this financial year. It can be changed by entering a date or selecting a date from the drop down calendar.

Report By

Analysis Codes - The Transaction List will be sorted by analysis codes.

Accountants Codes - The Transaction List will be sorted by Accountant Codes.

Date - The Transaction List will be sorted by transaction date.








To produce a Transaction List Report:

1. Select "Transaction List" from the General Ledger Reports menu or the Report Centre.

2. Move the analysis codes to be included in the report from the "Analysis Codes Available" column to the "Analysis Codes Selected" column.

3. Select "From" and "To" dates from the drop down calendars.

4. Select whether to report by "Analysis Code," "Accountants Code" or "Date."





Trial Balance

This report displays the total of transactions for the specified period and Year to Date, and the opening and closing balances for the period.

Items Description

Choose a Month and Year Select a Year and a Month to report by. The default month is the month of the latest finalised batch. You can change to any other month and year you wish.





To produce a Trial Balance Report:

1. Select "Trial Balance" from the General Ledger Reports menu or the Report Centre.

2. Choose a Month and Year.


Synergy Business Solutions Ltd General Ledger Manual Page 2 · Synergy Business Solutions Ltd...

Documents

Transcript of Synergy Business Solutions Ltd General Ledger Manual Page 2 · Synergy Business Solutions Ltd...