Table of Contents – General Ledger
General Ledger
Introduction 249
Account Maintenance/Inquiry 249
Field Descriptions for G/L Account Mtc. screen 251
Journal Posting 254
Journal Entry Template 257
Recurring Journal Entries 258
Account Detail Inquiry 260
Report Format Maintenance 262
End of Month Processing 267
End of Year Processing 267
G/L Budget Maintenance 268
G/L Budget Posting 268
G/L Budget Worksheet 269
G/L Budget Comparison Report 269
G/L Budget History Report 269
Continued...
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Table of Contents – General Ledger continued...
General Ledger Reports
Introduction 270
Print Chart of Accounts 270
Print Journals/Update General Ledger 271
Print Account Detail Report 272
Print Account Summary Report 275
Print Account History Report 275
Print Trial Balance 276
Print Annual Trial Balance 276
Change in Financial Position 277
Chart of Account Change in Position 277
Income/Expense Statement 278
Balance Sheet 278
Report Format Listing 279
General Ledger Report Consolidation (for Multi- 279
Company Combined Financial Statements)
Print Invoice Detail Report 280
Print Journals History Report 281
Compare GL Inv. Value to PO Receipts 281
281
RollMaster System Documentation – General Ledger – 6/1/2012
General Ledger
Introduction:
The General Ledger (G/L) menu contains all modules relating to the management of the system financial statements. As explained in other areas of the RollMaster manuals there are many functions throughout the RollMaster System that automatically send information to the system G/L during daily processing. This functionality allows the system to produce current financial information quicker and easier. Several reports are also available through this menu that allow for detailed viewing of the data that makes up your financial statments.
Procedure:
From the Master Menu click on the General Ledger button or arrow to that option and hit enter. The General Ledger menu will appear as follows:
Items 1-14 are modules that can be accessed from this menu—they will be explained in the order they appear in this menu. Item 15 will bring up a General Ledger Reports Menu—the General Ledger Reports will be explained following the General Ledger menu item section.
Account Maintenance/Inquiry:
This is a set-up module that must be completed prior to going “live” on the RollMaster System—thereafter, this module will be used to add and maintenance new G/L accounts and view data in existing accounts. You will need a current copy of your store’s Chart of Accounts to complete this module. RollMaster also recommends consulting with your CPA or accountant before you begin in case he or she has any changes/additions they would like to make to the order or content of your Chart of Accounts. During the set-up phase of the RollMaster System, there are certain accounts that must be entered in the system before other modules can be completed or used. The following is a list of those accounts:
Asset Accounts: Cash in Bank, Cash Disbursements (if applicable), Accounts Receivable, Inventory Account (you may have one inventory account or several depending on your method of Inventory Valuation).
Liability Accounts: Accounts Payable, Customer Deposits (if you don’t have this account currently, you need to add it in the RollMaster System), Sales Tax Payable.
Equity Accounts: Retained and Current Earnings.
Revenue Accounts: Sales of Material, Sales of Labor, Freight Income, Sales-Other, Service Charge Income, A/R Discounts (negatively impacts or offsets revenue).
Expense Accounts: Cost of Goods-Material, Cost of Goods-Labor, A/P Discounts (negatively impacts or offsets expenses).
Beginning Balance Accounts: Prior Purchases (set up as expense account type and begin with a “P”, e.g., P200), Prior Sales (set up as a revenue account type and begin with a “P”, e.g., P120).
All other accounts can be set up at this same time or at a later date prior to the time the account is needed. For example, your operating expense accounts need to be set up prior to posting invoices for utilities, advertising, and other such expenses. Payroll accounts need to be set up prior to running the Payroll module or posting directly to those accounts, and so on.
When you enter this module, the screen will appear as follows:
You have five options at this prompt. You can type an “A” for Add and hit enter to add a new account; you can type a “C” for Change and hit enter to change the description or previous year period balance of an existing account; you can type a “D” for Delete and hit enter to delete an existing account; you can type an “I” for Inquire and hit enter to view an existing account; or you can type an “E” for End and hit enter exit this module. If you type an “A” and hit enter, the rest of the screen will appear as follows:
Field Descriptions for G/L Account Maintenance screen:
Current Period- this field, in the top right corner of the screen, will automatically default to the current open period in the system G/L.
Account Number- in this field, when you are adding an account, type in the number of the account up to eight digits. You can use a period or hyphen to denote a sub-account. If you are deleting, changing, or inquiring about an account number, you will type that number in this field to bring the account information up on screen or use the F4 Lookup option to locate the account.
Description- in this field, when you are adding an account, type in a complete description of the account up to 30 characters, e.g., DATA PROCESSING EXPENSE. If you are deleting, changing, or inquiring about an account, this field will automatically fill in when you enter an account number in the previous field.
Account Type- in this field, when you are adding an account, as soon as the cursor moves to this field the system will prompt an Account Type lookup box as follows:
You have to make a selection from this box or hit enter on the Exit Program option to completely exit the Account Maintenance/Inquiry module. The following list identifies how each Account Type impacts your financials:
AS = Asset accounts (carry a Debit balance)
LI = Liability accounts (carry a Credit balance)
EQ = Equity accounts (carry a Credit balance)
RV = Revenue or income accounts (carry a Credit balance)
EX = Expense and cost of goods accounts (carry a Debit balance)
If you are deleting, changing, or inquiring about an account, this field will automatically fill in when you enter an account number in the first field. Please Note: you cannot change this field on an existing account. If you need assistance with this, please contact a member of the RollMaster customer service department.
Bank Account (Y/N)- if this account is considered a bank account or if it needs to be used as a Tender Code, you will need to set this field to “Y” for yes. For all other accounts leave it set to “N” for no. For any accounts identified in this module as Bank Accounts, you can further distinguish as to whether the account is a Line of Credit via the following field that appears when the Bank Account field is set to “Y” for yes: 3e. LINE OF CREDIT. This field is looking for an amount, which should be the maximum amount available to draw against. If you need to add this data for an existing G/L account, you will need to type “C” for change at the FUNCTION prompt, then type “N” for no at the DATA OK prompt, and then type a “3” at the FIELD NUMBER TO CHANGE prompt. Hit enter until the cursor is positioned at the LINE OF CREDIT field and then type in the maximum amount available on this line of credit such as “40000.” In the Graphical Bank Reconciliation module, when a line of credit account is selected, you will see the following display at the top of that screen:
Credit Card (Y/N)- you will only be able to access this field if the Account Type is set to “LI” for Liability. If the account you are adding is a credit card account and you wish to be able to access the account for making payments to and from this account in the Graphical Bank Reconciliation module, you should set this field to “Y” for yes; otherwise leave it set to “N” for no. If this field has been set to “Y” for yes, the system will prompt a couple of additional fields as follows: Credit Card Limit. This amount will display in the Graphical Bank Rec. program along with an Available Credit amount. Along with a limit, you can also enter an Interest Rate percentage for the card that will also display in the Graphical Bank Rec. program.
For all account numbers designated as either Bank Accounts or Credit Cards, the system will also prompt an additional field as follows: Debit Nbr. The number will default to “000001.” This number will be automatically assigned to each Hand Check or Electronic Payment performed in the system. The system will automatically check to make sure no duplicate number is used for each applicable transaction.
Columns- the first column of numbers (01-13) are accounting periods. The second column is for account balances by period for 2 Years Ago. The third column is for account balances by period for Last Year. The fourth column is for account balances by period for the current year (This Year). And the fifth column is for account balances by period for the Next Year. Entering data in the Last Year and 2 Years Ago columns is optional. DO NOT enter any data in the “This Year” and “Next Year” column fields as that would adversely affect your financial statements.
Caution: If you fill up a field with type, the system will automatically return to the next field. In this screen, you cannot arrow up or down to change fields. You will need to continue entering information until you get the DATA OK prompt at the bottom of the screen, at which point you can type an “N” for no to a field and make a change.
If you are adding a new account, once you have typed information in the fields above, the following prompt will appear at the bottom of the screen: DATA OK (YES,NO,CAN). If all the information is correct, type a “Y” for yes and hit enter. If the information is not correct, type an “N” for no and hit enter and the system will prompt the following: FIELD NUMBER TO CHANGE:__. Type a 1, 2, or 3 and hit enter and the system will place the cursor back at that field. Once you have made the correction, the system will prompt the DATA OK message again. If you want to clear all information entered and start again, type a “C” for Cancel and hit enter. The system will place the cursor back at the “Account Number” field. To exit this module, hit enter at a blank Account Number field to get to the Function prompt. At the Function prompt, type an “E” for end and hit enter to return to the General Ledger menu.
To change information in an existing account, at the Function prompt type a “C” and hit enter. The system will place the cursor at the Account Number field. Type in the exact number of the account you wish to access and hit enter; the system will then fill in the screen with the account information and place the cursor at the DATA OK prompt. Once an account has been added, you cannot change the Account Number or the Account Type fields. You can, however, change the Description field or add history to periods in the “2 YEARS AGO” and “LAST YEAR” columns. DO NOT add or change any account balance information in a period in the THIS YEAR or the NEXT YEAR columns from this module! That information is updated internally through various accounting modules. If you change numbers in the last two columns from this module, you will cause an “out of balance” condition in the G/L Detail Report.
To change a field, at the DATA OK prompt type an “N” and hit enter. The system will prompt the following: FIELD NUMBER TO CHANGE:__. Type in the number of the field you wish to access and the system will place the cursor at that field. To change any of the fields tied to the Bank Account and Credit Card fields you will need to enter through all the fields starting with that number. When you have made the change, the system will place you back at the DATA OK prompt. When all information is correct, type a “Y” and hit enter. The system will place the cursor back at the Account Number field. Hit enter at a blank Account Number field to get to the Function prompt. At the Function prompt, type an “E” and hit enter to return to the General Ledger menu.
To delete an existing account, at the Function prompt type a “D” and hit enter. The system will place the cursor at the Account Number field. You can use the (F4) Lookup option to prompt a G/L Account Lookup box or you can type in the exact number of the account you wish to delete and hit enter. The system will fill in the screen with the account information and prompt the following at the bottom of the screen: IS THIS THE RECORD YOU WISH TO DELETE
Y/N? _. (Please Note: The system will not let you delete an account if it has a current balance.) To delete the account, type a “Y” and hit enter. The system will then prompt the following: ARE YOU SURE Y/N? _. Type another “Y” at this prompt to complete the process. The system will then place the cursor back at the Account Number field. Hit enter at a blank Account Number field to get to the Function prompt. At the Function prompt, type an “E” and hit enter to return to the General Ledger menu.