Initialize GL Year

The process is to create accounting periods for transaction to be posted. 

Maintain Periods

The accounting periods are to be maintained to ensure transactions

are not posted to previous closed period without proper approval and access to open /close period is available to admin users.

Precaution to be taken to ensure that all transactions are accounted in the period in which it's incurred before close of a period.

 

Freeze Periods

The process is to freeze the General Ledger, AR & AP for a month end closing .

so as to avoid making any transaction in the closed  period,

the system will throw an error message to post any transaction.

 

Close Month

Check report must be generated to view whether any records are to be posted, if found good 

then the click on Ok to close the month.

Close Year

Once after closure of all months the system will prompt for closure of the year.

the GL year closing can be done as many times as possible to ascertain the Profit earned for the year,

once after the process is completed the system will pop up a message.

window of retained earnings as on the last day of the year. 

 

Currency Exchange

Currency is anything that is generally accepted to have value as a medium of exchange so that it can be traded for goods and services.

The trading system within an economy is based on its currency, which is usually specific to a country and issued by that country's government.

Since the value of the currency of one country to another country keeps changing due to fluctuations in the economy and the buying power.

(The purchasing power of currency is the quantity of goods and services that can be bought with a monetary unit.

due to rising prices, the purchasing power of currency deteriorates over time.

Outside of the country, it drops in cases of depreciation and devaluation and increases with the opposite).

To maintain consistency in the currency rates, the system has been designed to fetch the latest currency rates.

on click of the refresh button. 

Special Currency Rates

If any special conversion rates are to be maintained, 

it can be defined manually as of a particular date, which holds good till the next rate change.

Currency Revaluation

Credit Approval Dashboard 

The credit approval process for customers is based on the AR balances based on aging, open invoices and sales order created.

Step-1 Click on    to view the balances against the customer.

Summary will be listed, pending Sales order for approval will be listed on the right hand side of dashboard .

The records can be filtered based on   

To be decided now, Active not approved, Line on hold or All Active 

Step-2 & 3 If the amount is within the credit limit the SO can be  or if it exceeds click on .

 

On approval of the Sales order the total AR Exposure message pops as shown below.

Maintain Division Adj Posting

Maintain Cost Centre Adj Posting

Import Chart of Accounts

Import Budget Data

 

Import Journal Entry Batch

Journal Entries  

On click of GL entry the below browse list windows will list the JE's 

 

Step-1 Click on Add to create a new Journal Entry

Step-2 Click on change to modify the date of transaction or description.

any existing Journal entry for amount or interchange of account no.

Step -1 Click on change for update/modification of amount or account no by selecting the highlighted record.

Step-2 After modification, click on apply to save the changes , 

button is to clear the data entered in the details entered in the Account no, Debit & credit field a New JE is created .

Step-3 click on save to save the modifications.

Recurring Journal Entries

There are times when we need to pass journal entries repetitively weekly or on monthly basis,

the repeat JE can be created in the reoccurring Journal entries module & to process through batch.

Click on change to modify any changes in the existing,

  is for temporarily stopping the creation of JE & if the check box is unchecked, the JE creation can be repeated. 

if closed is enabled the JE creation process is permanently stopped.

Apply Reoccurring Journal Entries

The following message box will pop up to choose or to create JE for all defined.