MBA Series 3 General Ledger - MBA Software · General Ledger Setup Procedures 18 Set Up the Company...

MBA Series 3

for Windows®

User’s Guide

General Ledger

MBA Software & Consulting, Inc.

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MBA Series 3 Accounting Software User’s Manual

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Accounting Software

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Contents

ContentsChapter One: General Ledger Introduction

MBA Business Software Applications 2Overview of the General Ledger Application 2Overview of Basic Accounting 3Computerized Debits and Credits 5The Balance Sheet 5The Income Statement 7Fiscal Year-End Close 8General Ledger Journal Entry 9Financial Statements & Reports 10Chart of Accounts 11

Chapter Two: General Ledger Set UpJournal Entry Transactions 14Chart of Accounts 15Financial Statements 15Reports 16Maintenance 17Recurring Entries 17General Ledger Setup Procedures 18Set Up the Company File 19Design the Chart of Accounts 21Enter The Chart Of Accounts 24Chart of Accounts Query Center 28Modifying an Account 29Deleting Accounts from the Chart 29Creating Accounts for a New Department 29Budget Account Maintenance 30Net Change Verification Report 31

Contents

Chapter Three: General Ledger Journal Entry & PostingGeneral Ledger Journal Entry and Posting 34Back Up Current Data 34Code Transactions 35Enter General Ledger Journal Transactions 36Batch Entry Methods 36

Standard Entry Method 37Creating a Batch Header 37Entering the Batch Detail 40

Easy Journal Entry Method 42Creating a Batch Header 43Entering the Batch Detail 44

Recurring Entry Method 44Creating a Recurring Entry Group 44Print Recurring Entry Group 45Transferring a Recurring Entry Group 45

Print Edit Journal 44Post to the General Ledger 46

Modifying Posted Journal Entries 47Unpost Posted Journal Entries 48

Modify Batch Notes 47Create Reversing Batch 49Print Net Change Verification Report 53

Chapter Four: General Ledger ReportsGeneral Ledger Reports 56Display Monthly Trial Balance Totals 57Monthly Trial Balance Report 58Working Trial Balance Report 59MTD/YTD General Ledger Report 59Financial Statements 61Cash Flow Statements 62Posted Journal Entry Detail Report 63Net Change Report 63Posted Journal Entry Edit Journal 64

Contents

Chapter Six: General Ledger File MaintenanceYear End Close 84Year End Close Procedure 85Perform Year End Close 86Spreadsheet Interface 87Import/Export Files 87

AppendixGeneral Ledger Data Files 89

Chapter Five: Financial & Cash Flow StatementsFinancial and Cash Flow Statements 66Financial Statement Format Setup 66

How The Financial Statement Generator Works 66Creating New Financial Statement Formats 67Creating New Financial Statement Detail 69Detail Types, Table & Explanations 70Saving the Detail Record 76Changing the Detail Record Order 76Modifying Financial Statement Formats 76Printing the Financial Statement Format 76Copying Financial Statement Formats 77

Cash Flow Statement Setup 79Create the Cash Flow Statement Format 79Modify the Cash Flow Statement Format 80Print the Cash Flow Statement Format 80Cash Flow Statement Formulas 81

Contents

Chapter One

General LedgerIntroduction

In this chapter . . .

MBA Business Software Applications 2

Overview of the General Ledger Application 2

Overview of Basic Accounting 3

Computerized Debits and Credits 5

The Balance Sheet 5

The Income Statement 7

Fiscal Year-End Close 8

General Ledger Journal Entry 9

Financial Statements & Reports 10

Chart of Accounts 11

2 General Ledger


MBA Business Software ApplicationsMBA Accounting Software was designed to efficiently meet your unique businessneeds. The applications effectively interface with each other, or one applicationcan be used as a stand-alone program. Each application is easy to use andeasy to modify to fit your unique business needs, allowing you to be more efficientand productive.

MBA Series 3 Accounting Software is a 32 bit PC compatible application, andmay be installed on a network with an MBA Network System Manager package.Each application was designed with an ASCII interface that allows you to importdata from MBA applications into word processing, spreadsheets and graphicssoftware.

Overview of the General Ledger Application

MBA’s General Ledger application performs general accounting and financialstatement preparation. This application supports the following subsidiary ledgersautomatically: Accounts Payable, Accounts Receivable, Payroll and Inventoryapplications. A general journal is also supported. Almost any existing accountnumber structure can be adapted to the General Ledger’s Chart of Accounts.

The program automatically prepares and prints balance sheets and profit andloss statements for eighteen accounting periods, which may be processedconcurrently. This allows you to post transactions for the current year whileadjusting prior year’s books for up to two full quarters after the end of the fiscalyear. Prior year and budgetary data is also maintained to provide comparativemanagement analysis reports.

The spreadsheet interface provides access to General Ledger accounts forboth month-to-date and year-to-date figures. It allows data to be imported intofinancial spreadsheet models. Each application provides extensive on-screenhelp.

3Chapter One -- Introduction

Accounting Software

Overview of Basic AccountingThis section explains the basic principles of General Ledger accounting. It isintended for those readers having little or no background in accounting.

Accounting is the recording of all of the events that affect the financial conditionof a company. These events include the accounting for all cash receipts andcash disbursements. The purpose of accounting is twofold: to reflect the financialhealth of a company through the preparation of financial reports, and to fulfillfederal, state, and local government requirements.

Accounting events are called transactions and are maintained in both summaryand detail form by classification. All transactions that involve cash, for example,are recorded in the Cash account; all transactions that affect Inventory arerecorded in the Inventory account.

Traditionally, accounts have been written in a format known as the “T Account.”The left side of the T Account is called the debit side and the entries here arereferred to as debits. The right side of the T Account is called the credit sideand these entries are known as credits.

Accounts can generally be divided into five categories: Assets, Liabilities, Capital(Net Worth), Income, and Expense Accounts. Debit refers to an increase in anyAsset or Expense Account and a decrease in any Liability, Capital or IncomeAccount. Credit refers to an increase in any Liability, Capital, or Income Accountand a decrease in any Asset or Expense Account.

AssetsAsset accounts represent valuable property that a company owns (cash,receivables, inventory, buildings and equipment) and usually have a normal debitbalance. There are two major classifications of assets: Current Assets andProperty, Plant & Equipment.

Current AssetsCurrent Assets are assets that will be converted into cash within one year. Theseassets include Cash, Inventory and Accounts Receivable.

Property, Plant, And EquipmentProperty, plant, and equipment is comprised of assets of a durable nature thatare to be used in a production, sales, or service capacity rather than being heldfor sale. Machinery and equipment, buildings, furniture and fixtures, and landare examples of assets that would be classified as PP&E.

4 General Ledger


LiabilitiesLiability accounts represent claims of creditors against a company’s assets.Liabilities indicate how much a company owes. Accounts Payable and NotesPayable are two examples of liability accounts. Liabilities, like assets, fall intotwo major categories: Current and Long Term.

Current LiabilitiesLiabilities which fall into this category are those which will be eliminated within afew accounting periods. Accounts Payable is an example of a Current Liability.

Long Term LiabilityA Long Term Liability is an account that is active for a long period of time, usuallyover 90 days. An example of a Long Term Liability is Notes Payable.

Transactions that increase liabilities are credits, whereas transactions thatdecrease liabilities are debits. Liability accounts usually have a credit balance.

CapitalThe investments of owners in a company are represented by Capital (Net Worth)accounts. Capital (Net Worth) accounts include the amounts invested alongwith Retained Earnings, which are profits that have been reinvested in thebusiness.

Transactions that increase the net worth of the company are credits; transactionsthat decrease the Capital accounts are debits. Capital accounts usually havecredit balances.

Income AccountsIncome accounts represent revenue that is realized from the company’soperations. The income that is derived from the sale of goods or services to acustomer is posted in an Income account, such as the Sales account.

Transactions that increase Income accounts are credits, and transactions thatdecrease Income accounts are debits. Income accounts usually have a creditbalance.


Accounting Software

Computerized Debits and CreditsWe have described the impact of debits and credits on the various categories ofaccounts. Manual procedures for handling accounting information have beendeveloped over hundreds of years into these generally accepted standardformats.

Automating an accounting system requires that the computer application beable to determine the difference between debits and credits. A computerizedaccounting system treats all debit amounts as positive values, and all creditamounts as negative values, in order to balance the Asset, Liability, Capital,Income, and Expense accounts.

The Balance SheetAssets, Liability and Capital accounts are included in a company’s Balance Sheet.The Balance Sheet is a statement of condition showing the financial position ofa company at any point in time. It is based on the following formula:

Assets = Liabilities + Capital (Net Worth)

This statement of condition shows the balance for all Asset, Liability, and Capitalaccounts as of a particular date.

Accounts appearing on the Balance Sheet are known as permanent accounts.The ending balance at the end of one fiscal period is the beginning balance forthe next fiscal period.

Following are five transactions, which illustrate the development of a BalanceSheet. These transactions are typical of a company’s operation.

GENERAL LEDGER TRANSACTIONS:

1. John Doe invests $100,000 in the company. The money is posted as a debitto the Cash account (asset) and as a credit to the Capital Stock account(capital).

2. The company purchases $20,000 worth of furniture for cash. This is debitedto the Furniture account (asset) and credited to the Cash account (asset).

3. The company buys $10,000 in Inventory for cash. Debit the Inventory account(asset), credit to the Cash account (asset).

6 General Ledger


4. Additional Inventory of $15,000 is purchased on credit. Debit the Inventoryaccount (asset), credit the Accounts Payable account (liability).

5. The company borrows $50,000 for working capital. Debit the Cash Account,credit the Notes Payable (liability) account.

The following illustrates the Balance Sheet developed from the sampletransactions.

stessAtnerruC

hsaC 00.000,021

yrotnevnI 00.000,52

stessAtnerruClatoT 00.000,541

tnempiuqE&,tnalP,ytreporP

erutinruF 00.000,02

E&PPlatoT 00.000,02

STESSALATOT 00.000,561

seitilibaiLtnerruC

elbayaPstnuoccA 00.000,51

seitilibaiLtnerruClatoT 00.000,51

seitilibaiLmreTgnoL

elbayaPsetoN 00.000,05

seitilibaiLmreTgnoLlatoT 00.000,05

seitilibaiLlatoT 00.000,56

latipaC

kcotSnommoC 00.000,001

&SEITILIBAILLATOTLATIPAC

00.000,561


Accounting Software

The Income StatementIncome and Expense accounts are included in a company’s Income Statement.The Income Statement, sometimes called the Profit and Loss, or FinancialStatement, identifies Income and Expense account activity that results in eithera profit, or loss for the company. The statement is based on the operations ofthe company and is often referred to as the Statement of Operations.

The Income Statement is based on the formula:

Income - Expenses = Profits (Loss)

Income and Expense accounts are operating accounts that are closed out atthe end of every fiscal year. The closing of Income and Expense accountsinvolves the transfer of either a profit, or loss to the Balance Sheet RetainedEarnings Account. Income accounts are closed by debit and credit entries tothe Income account and the Retained Earnings account respectively equal tothe balance of the Income account. Expense accounts are likewise closed byentering a credit to the Expense account equal to the entire balance and a debitto the Retained Earnings account.

Following are four transactions that illustrate the development of the IncomeStatement.

GENERAL LEDGER TRANSACTIONS:

1. Goods costing $4,000 are sold for $5,000 cash. The Inventory account (asset)is credited for $4,000, and a debit of $4,000 is posted to the Cost of GoodsSold account (expense). A credit of $5,000 is posted to the Sales account(income), and the Cash account (asset) is debited for $5,000.

2. Rent of $1,200 is paid. The Rent account (expense) is debited for $1,200, andthe Cash account (asset) is credited for $1,200.

3. Goods costing $5,000 are sold on account for $8,000. A credit of $5,000 isposted to the Inventory account (asset), and a $5,000 debit to the Cost ofGoods Sold account (expense). The Sales account (income) is credited for$8,000, and an $8,000 debit is posted to the Accounts Receivable account(asset).

8 General Ledger


4. A telephone bill for $150 is paid. A debit of $150 is posted to the Telephoneaccount (expense), and a credit of $150 is posted to the Cash account (asset).

The Income Statement developed from the sample transactions is shown below.This statement summarizes the Income and Expense accounts and calculatesthe profitability of the company.

Fiscal Year-End CloseFiscal year-end transactions are entered to close Income and Expense accountsinto Retained Earnings. The Sales Account total of $13,000 is closed with adebit to Sales Income and a credit to Retained Earnings. The Cost of GoodsSold total of $9,000 is closed with a credit to Cost of Goods Sold and a debit toRetained Earnings. The Expense accounts are closed with a credit to theExpense account and a debit to Retained Earnings, which, in the above example,would reflect a net profit of $2,650.

Gross Sales 13,000.00

Less: Cost of Goods Sold 9,000.00

GROSS PROFIT 4,000.00

Less: Operating Expenses

Rent 1,200.00

Telephone 150.00

TOTAL OPERATING EXPENSES -1,350.00

NET PROFIT/(LOSS) $ 2,650.00


Accounting Software

Transactions are entered into MBA Accounting Applications through a uniformprocedure of processing. This procedure ensures that you maintain balancedaccounts. The following is a summary of the procedure:

1. Batch IdentificationThe Batch Identification number establishes an audit trail by identifying thesource of entry, date of entry, and posting period.

2. Data InputWhen you input data, the program edits and verifies the accuracy of all yourdata. You may also add to a current batch.

3. Edit JournalThe Edit Journal prints a detailed listing of all journal entries.

4. Modify Journal EntriesThe Modify Journal Entries option allows you to change or delete the dataentered.

5. Post Journal EntriesThe Post Journal Entries option updates all the files associated with aprogram and prints a detailed audit journal of the transactions entered.

General Ledger Journal EntryThe General Ledger application emphasizes simplicity and speed of data entry.The General Ledger application is batch oriented with a detailed audit trail to thesource of original entry. The General Ledger permits you to enter data intocurrent and prior accounting periods through batch control. While the programis extremely flexible in entering transactions that affect prior accounting periods,it does offer management control to close and/or reopen specific periods.

Transactions not yet realized may be accrued by the program (such as payrolltransactions not yet disbursed). The application allows you to identify both theaccounting period that you would like to charge the transactions to and theaccounting period that you anticipate the disbursement to occur. The programautomatically generates the reverse entry.

10 General Ledger


Financial Statements & ReportsSix types of financial statements are predefined and may be used as a templatefor designing your own reports. These statements are the Balance Sheet, IncomeStatement, Prior Year, Budget Comparison, Prior Year Balance Sheet, and theBudget and Prior Year Comparison.

If your Chart of Accounts follows the structure listed below, the statements maybe used without requiring any specific set up (if you employ the GL05MBA3.TPSfile provided in the sample data). The statements assume that the Chart ofAccounts was designed with this general structure:

All reports can be user-defined through the MBA General Ledger StatementGenerator. Multiple formats may be generated for each type of report, and youcan custom design reports.

In addition to Financial Statements, a number of General Ledger reports areavailable through menu selections.

Account Number Range

Current Asset Accounts 100 through 149P P & E Accounts 150 through 179Other Asset Accounts 180 through 199Current Liability Accounts 200 through 259Long Term Liability Accounts 260 through 299Capital Accounts 300 through 399Income Accounts 400 through 499Cost of Goods Sold Accounts 500 through 599Expense Accounts 600 through 799Other Income Accounts 800 through 899Other Expense Accounts 900 through 999


Accounting Software

Chart of AccountsThe Chart of Accounts is the heart of the General Ledger. It contains all of youraccounts, their descriptions, account numbers, and associated financial data.The Chart of Accounts structure divides your records into the following categories:Assets, Liabilities, Capital, Income, and Expenses. These categories directlyaffect your balance sheet, income statement, and prior year, or budgetcomparison reports.

Net Change Amount TypesThe Chart of Accounts is maintained in a file that keeps track of accountnumbers, account descriptions, and maintains balances and Current net changeamounts for each account. The Chart of Accounts file contains the Budget,Prior Year, and Memo net change amount information as well.

Current Net Change AmountsCurrent net change amounts are the only amounts to which you can post GeneralLedger transactions. Asset, Liability, Capital, Income, and Expense accountsare all Current net change amounts. They are all used in developing your currentperiod balance sheet and income statement report.

Budget Net Change AmountsBudget net changes are used to carry month-to-date budgetary figures for thecorresponding current net change amounts.The budget net changes are not used in generating the Trial Balance or DetailedGeneral Ledger report. They are only used for comparison purposes on theBudget Comparison report and the Budget Prior Year Comparison report.

Prior Year Net Change AmountsPrior year figures are not presented in either the Trial Balance or Detailed Gen-eral Ledger reports. These net changes are used to carry monthly comparisonfigures for the prior year for the Current Net Change amounts. These compari-son figures are used in the Prior Year Comparison report, the Budget Prior YearComparison report, and the Prior Year Balance Sheet.

The year-end roll function automatically updates the balances in the prior yearnet change amounts.

12 General Ledger


Memo Net Change AmountsThe Memo net change amounts are used to hold financial information that isnot necessarily related to any particular account. It can represent the amountsthat you want to compare with your accounting transactions on specialmanagement reports. Reports using the memo net change amount informationcan be defined with the General Ledger Financial Statement Generator.

Like the budget and prior year net changes, memo net changes are not includedin either the Trial Balance Report or Detailed General Ledger.

Memo net changes are useful for printing certain financial statements. Thesenet changes could identify the amount of outstanding common stock, or theending balance for the cash account. Using memo net changes, you can easilycreate a statement of change in stockholder’s equity, a statement of change infinancial position, or even show the number of employees in each department.

Chapter Two

General Ledger Set Up


The General Ledger menu

Journal Entry 14

Chart of Accounts 15

Financial Statements 15

Reports 16

Maintenance 17

Recurring Entries 17

General Ledger Setup Procedures 18

Set Up the Company File 19

Design the Chart of Accounts 21

Enter The Chart Of Accounts 24

Account Maintenance

Account Masks 27

Chart of Accounts Query 28

Perform Account Maintenance 29

Modifying an Account 29

Deleting Accounts from the Chart 29

Creating Accounts for a New Department 29

Budget Account Maintenance 30

Net Change Verification Report 31

14 General Ledger


The General Ledger Menu OptionsThere are six main General Ledger menus, each with further sub-menus. Eachmenu has a hot-key, shown as the underlined letter. The menus are, in order:

1) Journal Entry

Enter/Modify Journal Entry BatchesAllows you to enter and change debit and credit transactions.

Enter/Modify Easy Journal Entry BatchesAllows you to enter and change Easy Entry batches.

Print Edit JournalAllows you to produce an audit trail to verify the accuracy of the journal entrybatches.

Post Journal Entry BatchAllows you to post a journal entry batch to the General Ledger.

Modify Journal Entry DetailAllows you to change the date and line descriptions of posted entries.

Modify Batch NotesAllows you to enter or modify notes for batches posted to regular accounts.

Modify Batch Notes for Special AccountsAllows you to enter or modify notes for batches posted to budget or memoaccounts.

Unpost GL Posted Journal EntriesAllows you to unpost batches posted to regular accounts.

Unpost Special Account BatchesAllows you to unpost batches posted to budget or memo accounts.

Create Reversing BatchCreates a batch to offset any posted batches.

15Chapter Two -- General Ledger Set Up

Accounting Software

3) Financial Statements

Enter/Modify Financial Statement FormatsAllows you to enter and change the financial statement formats.

Copy Financial Statement FormatsAllows you to copy financial statement formats from one company code toanother.

Print Financial Statement FormatsAllows you to view and print the financial statement formats.

Cash Flow Statement MaintenanceAllows you to perform maintenance on existing cash flow statement formats.

Print Cash Flow Statement FormatAllows you to view and print the cash flow statement format.

Create Accounts for New DepartmentsAllows you to create a new department account category.

Budget Account MaintenanceAllows you to perform maintenance on the budget accounts.

Net Change Verification ReportAllows you to view and print the net change verification report.

2) Chart of Accounts

Account InquiryAllows you to review the Chart of Accounts.

Enter/Modify the Chart of AccountsAllows you to enter and change the Chart of Accounts.

Chart of Accounts Query CenterAllows you to create Chart of Account Queries based on custom designed lookupcriteria.

Print Chart of AccountsAllows you to print the Chart of Accounts.

16 General Ledger


Cash Flow StatementAllows you to print cash flow statements.

Posted Journal Entry Detail ReportAllows you to print a detailed report of the posted journal entries.

Net Change ReportAllows you to view and print a report of the net changes.

Running Balance ReportAllows you to view account balances for each month.

4) Reports

Display Monthly Trial Balance TotalsAllows you to view the monthly trial balance totals on the screen.

Monthly Trial Balance ReportAllows you to print a monthly trial balance report.

Working Trial Balance ReportAllows you to print a trial balance report worksheet.

MTD/YTD General Ledger ReportAllows you to print ledger reports by date range.

Financial StatementsAllows you to print financial statements.

Posted Entry Edit Journal For Regular AccountsAllows you to view and print an edit journal of posted journal entry batches.

Posted Entry Edit Journal For Special Accounts Allows you to view and print an edit journal of posted journal entry batches for memo and budget accounts.


Accounting Software

Monthly Net Change AmountsAllows you to view the net change figures by account.

Financial Statement SeriesAllows you to group financial statements together for printing purposes.

Perform Year End CloseAllows you to close out the year of transactions posted to months 1 through 12.

Spreadsheet InterfaceAllows you to export Chart of Account information into a spreadsheet format.

Import/Export FilesAllows you to bring certain files into the General Ledger or to write certain GeneralLedger data files into a variety of formats for transferring to another program.This menu is discussed in the System Manager Manual.

6) Recurring Entries

Enter/Modify Recurring Journal Entry GroupAllows you to enter or change the recurring entry groups.

Print Recurring Journal Entry GroupAllows you to print the recurring journal entry groups.

Transfer Recurring Group to Journal EntryAllows you to transfer a recurring journal entry group to a batch for posting.

5) Maintenance

Easy Journal Entry ScreensAllows you to enter or change easy journal entries.

Company InformationAllows you to modify the company information.

18 General Ledger


General Ledger Setup ProceduresTo begin using the General Ledger, you must perform the procedures listedbelow. The sections following will show you how to complete each of theseprocedures.

1. Set up the Company File

2. Design the Chart of Accounts

3. Enter the Chart of Accounts into the General Ledger

4. Print the Chart of Accounts report

5. Perform necessary account maintenance, such as creating departmentalaccounts, entering budget account net changes, and entering prior year andmemo account information.

Note: MBA ships with a pre-defined Demonstration Company, which willbe the default company when you first enter MBA. Before entering yourcompany specific information, you must first setup your own companycode. To do so, use the Multi - Company option within the Utilities QuickMenu Setup Wizard.


Accounting Software

First Income and Last Expense AccountsThese account numbers define the range of accounts that make up the incomeand expense accounts, from the lowest account number to which revenue trans-actions are posted to the highest expense account number used for postingexpense transactions.

Before performing any other General Ledger function, you must set up thecompany information. Select the Company Information option from theMaintenance Drop-Down or Quick Menus.

Company NameThe name entered here is the name that will appear on any reports printed inthe General Ledger. The name can be up to 40 characters in length.

Fiscal Year-End MonthA two-digit number must be entered in this field to indicate the last calendarmonth of the fiscal year. The General Ledger uses this number to order year-to-date reports and when transferring post months 13 through 18 to the appropriatemonths during the year-end close.

Set Up the Company File

Note: The processes listed on the following pages can be performed stepby step using the General Ledger Setup Wizard, found in the Utilities QuickMenu.

20 General Ledger


Retained Earnings AccountsUp to six account numbers can be entered for the posting of net profit or lossduring the year-end close procedure. Each account number must be assigneda percentage of the total profit/loss; the percentages must total 100%.

Are Balanced Batches Required for Posting?This field allows you to require that all batches are balanced prior to posting. Itis recommended that you keep the default value, Y. Requiring balanced batchesensures that the posted debits will equal the posted credits. One-sided or un-balanced batches can be posted if this field is changed to N. This field can bechanged at any time.

This account number range is very important during the year-end close, as itdetermines which accounts will be used to calculate the current net profit/lossthat is then divided among the retained earnings accounts. The net changes ofthis account range are zeroed out during the year-end close.

These fields can be left blank until the year is to be closed.


Accounting Software

Modify A/R and A/P Account Tables?A Y in this field will automatically update the descriptions in the AccountsReceivable and Accounts Payable account tables any time the General LedgerChart of Accounts is changed.

Closing MonthsAt the bottom of the Company information window is where individual monthscan be closed. Clicking on the check box below the month will enter a checkmark, which keeps batches from being posted to that month. Clicking a secondtime will remove the check. It is recommended that months 1 through 6 beclosed at the end of the fiscal year if you are not going to close the fiscal yearimmediately to avoid posting to those months in the new fiscal year; these entriesshould be posted to 13 through 18.

To save any changes that are made, click the OK button. Cancel will close thewindow without saving any changes.

Design the Chart of AccountsDesigning the Chart of Accounts is a very important step. You should haveplanned out the entire Chart before attempting to enter it into MBA’s GeneralLedger. Good planning at this step means you won’t have to revise the entirechart to include anything you may have forgotten.

MBA also offers a number of predefined charts that can be copied into yourcompany code (please also refer to the section on Copying Chart of Accountsin ch. 2 of the System Manager manual).

The following checklist can be used to guide you through the planning process.

Chart of Accounts Design Checklist

[ ] The Account number.

The Chart of Accounts must be designed with a unique account number foreach account. The proper structure, sequence, and any subaccount numbersmust be taken into consideration.

[ ] The Account description.

[ ] The Beginning Balance figures

[ ] Any ledger subtotal flags that you want to set.

22 General Ledger


Account Number SequencingThe sequence of account numbers becomes important when you are using arange of account numbers in various reports. There are some rules to rememberwhen sequencing the accounts:

• All account numbers are left-justified, as there may be an alphabetic elementto the account number.

• Numbers are sorted from left to right. This means that account number 1001would be before 101.

• Numeric characters precede alphabetic characters when sorted.

It is recommended that you arrange your account numbers in the sequence ofyour Balance Sheet and Profit & Loss Statements. A common method ofassigning a block of numbers to each classification is identified as follows:

tnuoccA egnaRrebmuN

stnuoccAtessAtnerruC 941hguorht001stnuoccAE&PP 971hguorht051

stnuoccAtessArehtO 991hguorht081stnuoccAytilibaiLtnerruC 952hguorht002

stnuoccAytilibaiLmreTgnoL 992hguorht062stnuoccAlatipaC 993hguorht003stnuoccAemocnI 994hguorht004

stnuoccAdloSsdooGfotsoC 995hguorht005stnuoccAesnepxE 997hguorht006

stnuoccAemocnIrehtO 998hguorht008stnuoccAesnepxErehtO 999hguorht009


Accounting Software

If your company’s divisions and departments must be identified, such identificationshould precede the account number. Special consideration must be given tothe effect this will have on the sorting, or sequencing of your numbers. If youwant to retain only numeric characters in your account numbers, and if you donot want department, or division identification in your balance sheet accounts(accounts 001 through 399), you should use the following structure to preservethe account orders:

00-101 Cash in Bank00-111 Accounts Receivable00-210 Accounts Payable00-301 Capital Stock01-401 Sales Income—Department 102-401 Sales Income—Department 201-601 Office Expense—Department 102-601 Office Expense—Department 2

If the 00- prefix were omitted from the non-department specific account numbers,they would actually appear after the 01- and 02- department accounts.

If you were to use alphabetic characters to identify the department/division (A1instead of 01 or 02), you would not be required to use the numerical prefix (00,01, or 02). Your accounts, then, would look like this:

101 Cash in bank111 Accounts Receivable210 Accounts Payable301 Capital StockA1-401 Sales Income—Department 1A2-401 Sales Income—Department 2A1-601 Office Expense—Department 1A2-601 Office Expense—Department 2

With the General Ledger Statement Generator, you can define your FinancialStatements (Balance Sheets, Income Statements, Prior Year, and BudgetComparisons) regardless of the sequence of your Chart of Accounts. However,the Chart of Accounts, Working Trial Balance, Monthly Trial Balance, Month-to-Date General Ledger and Year-to-Date General Ledger reports all print in accountnumber sequence.

24 General Ledger


The General Ledger application performs a year-end roll that closes out theprofit and loss accounts into retained earnings. In order for this to work correctly,your Company File Maintenance Record must identify the beginning incomeaccount number, the last expense account number and retained earnings accountnumbers (retained earning accounts must not fall within the range of incomeand expense accounts). Through this range of numbers, the system can identifyall income and expense accounts. Your numbering system must isolate thisrange of numbers.

Enter The Chart Of AccountsOnce you have written a draft of a Chart of Accounts, you are ready to enter itinto the General Ledger. Follow the steps below, beginning with the Chart ofAccounts menu:

1. Select Enter/Modify the Chart of Accounts and click the Insert button tobegin entering new accounts.

2. Fill in the fields on the screen. Refer to descriptions of the fields if necessary.

3. Click Next to coninue adding Accounts, and OK when you are finished .


Accounting Software

Account Number FieldYou can enter an account number up to 15 characters in length.

Account Description FieldYou may enter up to 30 characters of descriptive information into the AccountDescription field in the account record. The description or title of the account isprinted on the Chart of Accounts, Trial Balance, Detailed General Ledger andsupporting Financial Statements.

Ledger Subtotal Flags FieldThe Ledger Flag field in the account record is an optional feature that allowsyou to flag the account for a subtotal control break. Each time an account witha flag is encountered, a subtotal is printed after the account information on theMonth-to-Date and Year-to-Date General Ledger reports.

The program allows you to maintain up to four levels of subtotals. The amountsare automatically added to all four levels of totals.

The subtotal level is indicated by entering a number (1 through 4) in the LedgerFlag field. It is important to remember that when a particular level of subtotal isprinted, that level and all lower levels are cleared (if level 3 is chosen, levels 1,2, and 3 are set to zero).

The following is an example of using the Ledger Subtotal Flags:

.oNtccA noitpircseD tnuomA galFregdeL106-1A esnepxEeciffO 00.001206-1A esnepxEenohpeleT 00.05306-1A esnepxEselaS 00.57

00.522 1

106-2A esnepxEeciffO 00.05206-2A esnepxEenohpeleT 00.57306-2A esnepxEselaS 00.52

00.051 1

999-2A sesnepxElatoT 00.573 2

Remember that you must set up account number A2-999 to trigger the $375.00total.

26 General Ledger


Beginning Balance Figure FieldsThe Beginning Balance figure represents the account balance at the beginningof the fiscal year. Only balance sheet accounts (Assets, Liabilities, and Capital)contain a balance at the beginning of the year. All profit and loss accounts(income and expense) are closed out into retained earnings at year end andstart the new year with zero balances. Beginning account balances can also beentered or modified for Prior Year Balance, Budget Balance (to be used as ayearly budgetary amount), and Memo Balances.

The beginning balance may be represented as either a debit or credit by enter-ing a positive or negative number, respectively. The program assumes a debitbalance if you enter a positive number.

The beginning balance total for the entire Chart of Accounts should equal zerowhen you are finished entering the accounts.

Print The Chart Of Accounts ReportOnce you have entered your accounts into the Chart of Accounts, you shouldprint the Chart of Accounts report to verify its accuracy.

The Chart of Accounts report contains a list of all account numbers based onthe selected report order, along with the account descriptions and the ledgersubtotal flags. No balance figures are printed on this report. This is also usefulfor coding transactions that are posted to the General Ledger.

To print the Chart of Accounts report, select Print the Chart of Accounts fromthe Chart of Accounts menu. The following information will be requested:


Accounting Software

The only required item is the report order, which defaults to Account number.The report can also be ordered by Account description by selecting that optionfrom the Report Order list box. The account range and mask are optional.Click the Print button to create a hard copy, Preview if you wish to look over thereport before printing it, or PDF if you’d like to save the output to a PDF document.

Account MasksIn later sections of this manual, we will be referring to Account Masks, which areused in various operations throughout the General Ledger. Account masks aresimply a way for you to filter out unwanted information. An example of how thisworks is as follows:

The ?’s shown in the Account Mask field are used as wild-cards. For instance;if you use the top example from page 22, all accounts would be printed, exceptfor the Accounts Payable (00-210) and Accounts Receivble (00-111) Accounts.The filter in the above illustration would filter out all accounts that don’t end in01. The masking option can be a very helpful tool, provided your initial setup ofthe Chart of Accounts follows a logical pattern.

28 General Ledger


Chart of Accounts Query Center

The Chart of Accounts Query Center allows you to print custom designedaccount reports based on criteria of your choice. For example: If you only wishto view account numbers between 100-130, you would enter the query below.Multiple operators can be used to further refine your search, and each querycan be saved for future use.


Accounting Software

Account MaintenanceYou may want to change an account’s beginning balance or some other field atsome point in time. All the account information except the account number canbe changed. Accounts can also be deleted. Select Enter/Modify the Chart ofAccounts from either the Chart of Accounts Drop-Down or Quick Menus.

Modifying an AccountHighlight the account to make the changes to and click the Change button tomake modifications to the account description, subtotal flag, or beginning balance.The OK button must be clicked to save the changes.

To make account-by-account changes to the net change figures in any accountcategory, click the Update Net Changes button. Any changes made to theCurrent net change figures will affect many of the reports run in the GeneralLedger.

Note: Unless used as a temporary adjustment for reporting purposes, it is not recommended that you modify your net change figures manually. If your account balances need to be modified, it is recommended that you call and speak with one of our support technicians.

Deleting Accounts from the ChartAccounts can be deleted from the Chart of Accounts by clicking the Deletebutton when the account you wish to delete is highlighted. Note that only accountswith no current activity and zero beginning balances can be deleted.

Creating Accounts for a New DepartmentOnce the Chart of Accounts has been set up, you may need to add a series ofnew accounts. This may occur, for example, if your Chart of Accounts isdepartmentalized and you need to add a new department.

Rather than enter each new account separately, you can use masks to create awhole new subset of accounts. For example, if your accounts for department01 all end in the suffix -01, and you want to create accounts for department 02,you would use -01 in the appropriate position of the “from” mask and -02 in thecorresponding position of the “for” mask.

Select Create Accounts For New Department from either the Chart ofAccounts Drop-Down or Quick Menus to begin adding the new departmentaccounts.

30 General Ledger


Enter the department designation from which you are copying the accounts.This department must already exist before copying the account format toanother department.

Enter the new department designation in the Create Accounts For: field. Clickthe Process button to create the new department accounts.

Note: The descriptions will be copied from the original accounts to the newaccounts. If you need to change the descriptions in the new accounts, simplymodify those accounts.

Budget Account MaintenanceAt the beginning of each year, or even at points during the year, you may wish tomodify the budget net change amounts. You may want to zero out certainbudgets, make them equal to actual or prior year figures, and/or increase themby a set percentage. You can make these adjustments for particular months, orfor the entire year. You may need to make the adjustments several times, byusing different options to reach your desired combination. For example, youmay want to set the budgets to prior year figures, and then increase the resultby 10%.

Begin by selecting Budget Account Maintenance from either the the Chart ofAccounts Drop-Down or Quick Menus and perform the following steps:


Accounting Software

Check one of the five selections for modifying the budget amounts.

If you want to change the budget amounts for a particular range of accounts, orfor accounts that fit a particular mask, enter the range or the mask. Do notenter both a range and a mask.

If you want to change the amounts for a particular month or range of months,enter the number of month(s) in the spaces provided.Click the Process buttonto affect the changes to the budget amounts.

Note: Figures should be added to the budget beginning balance in the Chart ofAccounts if you want your budget amounts to be a yearly total, and not a monthlyamount for each account.

Net Change Verification ReportThis report will compare the net change figures in the Chart of Accounts with thePosted Journal Entries. Clicking the Print button will report any discrepancies,while the Update Net Changes button will print the report and modify the Chartof Accounts net changes to reflect the posted entries. This report is useful inspotting any problems if there are discrepancies between the financial statementsand the posted journal reports.

32 General Ledger


Chapter Three

General Ledger Journal Entry& Posting


General Ledger Journal Entry and Posting 34

Back Up Current Data 34

Code Transactions 35

Enter General Ledger Journal Transactions 36

Batch Entry Methods 36

Standard Entry Method 37

Creating a Batch Header 37

Entering the Batch Detail 40

Easy Journal Entry Method 42

Creating a Batch Header 43

Entering the Batch Detail 44

Recurring Entry Method 44

Creating a Recurring Entry Group 44

Print Recurring Entry Group 45

Transferring a Recurring Entry Group 45

Print Edit Journal 46

Post to the General Ledger 47

Modifying Posted Journal Entries 48

Unpost Posted Journal Entries 49

Print Net Change Verification Report 53

34 General Ledger


General Ledger processing procedures should be performed in the order outlined,although certain procedures may be performed several times during the month.

(1) Backup Current DataBegin by backing up all data, using your own backup procedures or the oneprovided by MBA, before entering transactions for the month (see appendix fora list of data files).

(2) Code TransactionsCode Transactions for the period with the account number, transactiondescription, date and debit or credit amount.

(3) Enter General Journal TransactionsTransactions are entered in batches for the period, and an edit journal is printed.

(4) Modify Journal EntriesCheck the edit journal for any errors, or omissions, and make corrections oradditions if needed.

(5) Post to the General LedgerOnce all journal entries have been made, the transactions are posted to theGeneral Ledger.

(6) Perform Account InquiryAny account may be reviewed, either in summary or in detail, at any time.

(7) Print Net Change Verification ReportThe program will compare each month’s net change figure with the total of allposted journal entries for the month.

(1) Back Up Current Data

General Ledger Journal Entry and Posting

Prior to beginning a new accounting period or entering a series of transactions,it is important that proper backups are created. This ensures that all data isretrievable. Accidents and hardware failures do happen and the best way toavoid loss of data is to be prepared. Backup disks are inexpensive comparedto the time lost if backups have not been made.

35Chapter Three -- Journal Entry & Posting

Accounting Software

MBA Series 3 includes a backup routine that will save the files specified into azip format. Please refer to the System Manager manual or help screens formore information.

(2) Code TransactionsEach debit and credit transaction should be coded with the appropriate accountnumber from the Chart of Accounts. Transactions should also include adescription for your reference and the date of the transaction, along with thedebit or credit amount.

Example:

1. Your company paid $2000 rent expense.2. Goods that cost $20,000 sold for $28,000.3. Your company paid $300 telephone expense.4. Your company paid $1000 printing expense.

The following account numbers are used as a sample of how transactions couldbe entered:

1. Your company paid $2000 rent expense.

(A) Debit rent expense account 611 the amount of $2000.(B) Credit cash account 101 the amount of $2000.

2. Goods that cost $20,000 sold for $28,000.

(A) Credit finished goods inventory account 131 the amount of $20,000.(B) Debit cost of goods expense account 501 the amount of $20,000.(C) Credit sales major equipment account 402 the amount of $28,000.(D) Debit cash account 101 the amount of $28,000.

3. Your company paid $300 telephone expense.

(A) Debit utilities phone account 635 the amount of $300.(B) Credit cash account 101 the amount of $300.

4. Your company paid $1000 printing expense.

(A) Debit printing miscellaneous expense account 665 the amount of$1000.

(B) Credit cash account 101 the amount of $1000.

36 General Ledger


(3) Enter General Ledger Journal Transactions

In most cases, an equal credit is entered for every debit. This is known asdouble-entry bookkeeping. It provides the tightest audit control. The GeneralLedger utilizes double-entry bookkeeping.

Circumstances may arise which would make distributing a transaction acrossseveral accounts necessary. For example, you would like the money from onecheck applied to two expense accounts.

1. Your company writes a $5000 check to the building manager.2. $4,000 of the expense is applied to office rent.3. $1,000 is applied toward utilities.

Enter the transaction as follows:

(1) Credit your cash account 101 the amount of $5000.(2) Debit your rent expense account 611 the amount of $4000.(3) Debit your utilities and telephone expense account 635 the amount of

$1000.

If you entered this type of a transaction into the Standard Journal Entry screen,it would only require three lines.

General Ledger Journal EntriesJournal entries are transactions posted against accounts in the Chart of Accounts.They are made from source documents, such as check stubs, which are codedwith the account information.

When the General Ledger is interfaced with other applications (i.e. AccountsReceivable, Accounts Payable, Payroll), many journal entries are the result ofperiod-end or year-end transactions that would not normally flow through highvolume journals such as the Sales Journal, Purchase Journal, and Cash Dis-bursement Journal.

Batch Entry MethodsMBA’s General Ledger uses batches for journal entries. This means that theentries are not immediately posted into the Ledger. This method allows forgreat flexibility, as journal entry batches can be prepared in advance and postedat the appropriate time. It also allows you to review the entries, verify theiraccuracy, and make modifications before posting.


Accounting Software

There are three types of journal entry batches; Standard, Easy Entry, andRecurring Entry batches. The first two are created under the Journal Entrymenu, while the Recurring Entry batches have a separate menu to create them.

Standard Entry Method: Creating a Batch HeaderBeginning from the Journal Entry menu, select Enter/Modify Journal EntryBatches, or from the Quick Menu, select Enter/Modify from the Transac-tions column. You will see the following screen:

Click the Batch Header Insert button to create a new batch ID. You will need tofill in the requested information, some of which is optional.

The Batch ID and Reversing Period fields are the only fields that have no defaultvalues. Many of the fields can have values chosen from a list box. The fieldsare as follows:

Batch Identifier FieldThe Batch Identifier field provides a method of tracking a transaction backto its origin. The journal source (JE for Journal Entry) and the Batch ID aresaved for each posted journal entry record.

38 General Ledger


Transactions are entered and posted in “batches” of entries. The Batch IDmay be as long as eight characters in length, and should provide somemeaningful identification for each batch. It is recommended that you enterunique Batch IDs to help when running reports and unposting batches.

Each batch should have a meaningful ID; for instance, JE0901 wouldrepresent a General Ledger batch entered for the first of September. TheBatch ID is only entered once for each batch, and you cannot have morethan one batch waiting to be posted with the same Batch ID. To add to abatch, click the lower Insert button to modify the batch.

Posting Month FieldThe Posting Month is the month that the transactions are to be posted tothe General Ledger. It defaults to the system date, but can be changed.Designate the Posting Month by entering a number from 01 to 18.Regardless of your companies fiscal year end, post months 01 through 12will always indicate January through December respectively, while postmonths 13 through 18 will represent the first 6 months of following year untilthe year end close is performed. (ie. If your fiscal year end is June, Julytransactions should be posted to post month 07 for the current year, andpost month 13 of the following year).


Accounting Software

This 18 month structure allows you to delay the year-end close for up to sixmonths after the end of the fiscal year, so that every applicable transactioncan be entered. You may enter and post transactions for the first six monthsof the new year without closing the old year.

For example, on December 31 it is time to close the year (assuming aJanuary to December fiscal year), but there are some outstandingtransactions for which the source documents have not been processed.On January 2, some transactions for the new fiscal year should be entered,but the old year has not been closed.

Simply enter and post the new transactions to month 13; when the year-endclose is performed, the month 13 transactions will become month 1transactions. Similarly, if you have February transactions for the new yearand have not yet closed the old year, enter them to month 14; when theyear-end close is performed, the month 14 transactions will become month2 transactions. This process can continue through month 18, the sixthmonth of the new fiscal year before closing the General Ledger for thepreceding year.

NOTE: Month 13 is NOT intended for adjusting entries; instead, it is used tostore transactions for the first month of the new year until the year-endclose is performed.

Batch Date FieldThe Batch Date field is the date the transactions are entered. The fielddefaults to the system date but can be changed. This date will be auto-filledinto the transaction date field of each detail line in the batch.

The General Ledger allows you to process transactions for several monthsconcurrently. You do not need to close out one month to post another. Theonly restriction is that all entries within a batch must be posted to the samemonth.

Batch Source Journal Code FieldThe Batch Source Journal Codes identify where information came from(Journal Entry, Cash Disbursements, Job Cost, etc.). You can print outreports by source journal, or you can print all your transactions together andidentify where they came from by the two-letter identifier on the report (JEfor Journal Entry, PJ for Purchase Journal, etc.).

40 General Ledger


The batch source journal codes are as follows:

CD Cash Disbursements JournalCR Cash Receipts JournalJ1-J9 Other JournalsJC Job Cost JournalJE Journal EntryIN Inventory JournalPJ Purchase JournalPY Payroll JournalSJ Sales Journal

The codes J1 through J9 are reserved for any special journals that youwant to define: J1, for example, can stand for department 1, J2 can standfor department 2.

Accrual Flag and Reversing Period (optional)If you want to create an accrual batch of reversing entries for this batch,select Y in the Accrual Flag field. You must then enter the month to whichthe reversing entries will be posted in the reversing period field.

Type of PostingTransactions can be posted to any of 3 account types: Regular, Budget,and Memo, along with any necessary notes for each. Regular will be thedefault type of posting, and is used for everyday processing.. Budget andMemo accounts are called Special Accounts. When posted, these specialdetail transactions will update the correct net change amounts (either Budgetor Memo) and will be saved for future viewing from the Account Inquiry/Account Information screen.

Standard Entry Method: Entering the Batch DetailOnce the header fields have been entered, click the lower Insert button to beginadding the batch detail lines, which will allow you to enter data into the batch.Fill in each field, using the Tab key, Shift-Tab to move back, or the mouse tomove from field to field. Press Ok to save your changes, and close out of thebatch entry screen.

Account NumberThe account number, which can be selcted from a pop-up list or simplytyped in, specifies which Ledger account will be affected by the transaction.


Accounting Software

Transaction Description FieldThe Transaction Description field is 32 characters long. This field maycontain any description which will help to identify the transaction. Commondescriptions include an invoice number, customer or employee name, or anexpense description. Once entered, the description is duplicated insubsequent description fields until another description is entered.

Transaction DateThis field will auto-fill to the header transaction date and can be changedindependently of the rest of the batch or the batch date. Note that, unlikethe description field, any entered date will not be duplicated in later detaillines. It will have to be entered for each line that has a date different thanthat of the batch header.

Check NumberTransactions that include a check payment can include the check number.Entering the check number here will cause the next line to auto-fill with thenext check number, if the increment check number box in the lower left-hand corner is checked. The check number can be removed by enteringthe number 0 or by pressing the Delete key when the check number ishighlighted.

Debit ColumnThe Debit Column contains transaction amounts which are to be posted asdebits to the account in the Account Number field. Debits increase Assetand Expense accounts and decrease Liability, Income and Capital accounts.

42 General Ledger


Credit ColumnThe Credit Column contains transaction amounts which are to be posted ascredits to the account in the Account Number field. Credits decrease Assetsand Expense accounts and increase Liability, Income, and Capital accounts.

The Tab key will take you to the next line after passing through the Creditcolumn; pressing Esc will take you out of insert mode, but will not savecurrent entries; pressing the OK button on the screen will exit the detailscreen while saving your entries, and pressing Cancel on the screen willexit without saving.

Easy Journal Entry MethodIf you have groups of frequent journal entries, where the account numbers remainthe same, but the debit/credit amounts change, you may want to use the easyjournal entry screen method for entering transactions. You can define the accountnumber by specifying whether the amount is a debit or credit. Each screen isassigned a 4 digit code that can be accessed.

The Easy Entry batch template must be created by selecting Easy JournalEntry Screens from the Maintenance Drop-Down menu, or Enter/ModifyEasy J/E from the Maintenance column of the Quick Menu before it can beused to create a batch.


Accounting Software

Click the upper Insert button to enter a new Easy Entry template. You will needto enter a 4 character code to identify the new template, the name of the template,and the default debit and credit account descriptions. The description fieldscan be left blank if the descriptions change each time the entries are entered.

Click the lower Insert button to begin entering the Title/Description (informationalonly), Account number, and the Debit/Credit designation. The Title is protectedwhen creating a batch from the template, but the Account number and Debit/Credit designation may be changed during the journal entry process.

Press the Tab key or use the mouse to move from one field to another. TheEnter key will indicate that the changes are complete.

Easy Entry Journal Batch: Creating a Batch HeaderAfter the Easy Entry template has been created, select Enter/Modify EasyJournal Entry Batches from the Journal Entry Drop-Down menu, or EasyJournal Entry from the Transactions column of the Quick Menu. Click theupper Insert button to add the batch header.

Creating the batch header is nearly identical to the procedure for creating abatch header for a Standard Entry batch, with three additional fields.

44 General Ledger


Easy Entry CodeThe Easy Entry code is used to identify from which template the batch is tobe created. This field can be browsed.

Debit and Credit Descriptions (optional)To override the default Debit and Credit descriptions, fill in these two fields.Click OK when done.

Easy Entry Journal Batch: Entering the Batch DetailAfter entering the batch header, you can tab into the detail section, or click thelower Change button to begin entering the detail. The Account number,Transaction description, and Debit/Credit designation will be filled from thetemplate defaults, but can be changed to fit each specific transaction.

Do not click the Insert button, as this will create a new, blank line in the batch.

Tab to the Check number, if applicable, and the Amount of the transaction forthat account. Use the Tab key to move to the next line and fill in the appropriateinformation.

When the last detail line has been entered, press Ok complete the process.

Recurring Entry MethodIf you have entries that occur regularly in which the dollar amounts are constant,such as rent payments, a Recurring Entry group should be created.

Organize your recurring entries into groups based on when they occur. Thetransactions in each group should be related since they will all be transferred tothe batch file at the same time. You may enter a group description with eachgroup ID to help identify the type of journal entries that the group contains. Youcan also create accruals for recurring batches, if it is appropriate. If you arecreating accruals, you will need to enter the reversing month when the group istransferred to the batch file.

Recurring Entry Method: Creating a Recurring Entry GroupSelect Enter/Modify Recurring Journal Entry Group under the RecurringEntries Drop-Down menu, or Enter/Modify Recurring from the Transactionscolumn of the Quick Menu. Click the upper Insert button to add a new GroupHeader. You will be asked to supply a Group ID, Group Description, SourceJournal, and Accrual month if desired. Click the OK button when complete.


Accounting Software

Click the lower Insert button to enter the Recurring Entry Detail lines. Thisinformation is entered in the same way as when entering Standard methodbatch detail, except there is no transaction date here. Click Close when done.

Recurring Entry Method: Print Recurring Entry GroupAfter creating a new recurring entry group, it is a good idea to print out theRecurring Entry group to check for accuracy. Select Print Recurring JournalEntry Group from the Recurring Entries Dop-Down menu, or Recurring Re-port from the Transactions column of the Quick Menu.

Choose the Group you wish to print by highlighting it, and click either the PreviewSelected, Print Selected, or PDF Selected button. Alternately, all groups canbe printed by clicking the Preview All, Print All, or PDF All buttons. Clickingthe Preview buttons will create a screen report that gives you the option ofprinting or exiting without printing.

Recurring Entry Method: Transferring a Recurring Entry GroupA Group needs to be transferred before it can be posted. Enter the Batch IDyou want the batch to have, the Transaction Date, the Post Month, and theReversing Month if Accruals are being used. Highlight the Group that is to betransferred, and click the Transfer Highlighted Group button.

The batch will be then be created as a Standard method Batch.

46 General Ledger


Print Edit JournalTo check the accuracy of the batches, the Edit Journal should be printed prior toposting. This can be done by selecting Print Edit Journal from the JournalEntry Drop-Down menu, or Edit Journal from the Transactions column ofthe Quick Menu.

The Edit Journal report is a line-by-line record of each journal entry transaction.The report contains the Batch ID, account number, account description, journalentry description, debit or credit amount and journal entry line number.

If the Edit Journal is printed for more than one batch, the report contains batchtotals for each batch. The report also shows the grand total of all debits andcredits for all batches.

Any time debits and credits are not equal, the message “J/E Out of Balance” willbe printed next to the total for the batch.

Choose the batch you wish to print by highlighting it, and click either the PreviewSelected, Print Selected, or PDF Selected button. Alternately, the Edit Journalfor all batches can be printed by clicking the Preview All, Print All, or PDF Allbuttons. The Preview buttons will create a screen report that gives you theoption of printing the Edit Journal or exiting without printing.

REMEMBER: Some errors made during journal entry are not detectable by theprogram. The program, for example, has no way of determining that accountnumbers are incorrect if those account numbers exist in the Chart of Accounts.

(4) Modify Journal Entry BatchesBatches can be modified from either Enter/Modify Batches menu selection,or Enter/Modify and Easy Journal Entry options from the Transactionscolumn of the Quick Menu.

Select the batch to modify. To modify the fields in the header, click the upperChange button when the correct batch is highlighted, or double-click the batchheader that needs modifications. Make any changes and click the OK buttonwhen complete.

If you need to change existing detail lines while in the modify screen, highlightthe line and click the lower Change button. Tab to the field to be changed andmake the modifications.


Accounting Software

Clicking the lower Insert button will allow you to add new detail lines to thebatch. Press Ok when the changes are complete.

Deleting Journal EntriesBatches can be deleted completely, or on a line-by-line basis. To completelydelete a batch, highlight the Batch Header and click the upper Delete button.The header and all detail will be removed. If you wish to delete individual detaillines, click Change button with the batch that you wish to update highlighted,and then click on the Delete button to remove the highlighted detail line fromthe batch.

(5) Post to the General LedgerThis procedure is used to post unposted batches of all three journal entry journalentry types to the General Ledger. The transactions are posted to the appropriateaccounting period in the Chart of Accounts Master file and are added to theDetail Transaction History file.

If the batch to be posted is an accrual group, the program will post the batch tothe appropriate accounting period; however, the reversing entries are not posted.The program automatically places the reversing entries in a new batch file withthe same name. These transactions may be posted later, or they may be postedimmediately. By using this procedure at year-end you can carry a reversingbatch over to the new year while recording the transaction in the prior year.

Select Post Journal Entry Batch from the Journal Entry Drop-Down menu,or Post from the Transactions column of the Quick Menu. You will see a list ofavailable batches.

48 General Ledger


Highlight the batch to be posted and click either the Post Batch/Print Report,Post Batch/Preview Report, or Post and PDF Report button. The programwill check the batch for errors before it begins the posting process. If errors arefound, they must be corrected before the batch can be processed.

If the batch posts successfully, an Audit Trail will print or be previewed, dependingon which button you choose. If previewed, you can print the report or close thepreview without printing.

You will be returned to the Post Journal Entry Batches screen once the processis complete.

ModifyJournal Entry DetailOccasionally, you may wish to change the transaction date or description in oneor several of your posted journal entries. You can do this by using the ModifyJournal Entry Detail selection in the Journal Entry Drop-Down menu, orModify J/E Posted Detail from the Transaction column of the Quick Menu.

NOTE: You are not allowed to change the account number, batch ID, journalsource, amount, or post month. If a transaction has errors in any of thesefields, you must post a reversing entry to correct it. If there are severalerrors in a posted batch, you may want to unpost the batch to correct them.

You can organize the display order by any of the fields with an associated tab atthe top of the screen. Click the tab for the sort order field you wish.


Accounting Software

Either double-click the batch line you wish to change or click the Change buttonwhen the correct batch line is highlighted. As noted before, you will only be ableto modify the transaction date, the description, or check number; if you need tomodify any of the other information, you will need to unpost the batch, make themodifications, and repost.

Unpost GL Posted Journal EntriesIf you have posted a batch that contains numerous errors, you may want tounpost the batch to correct them. The unposted batch will be recreated in thebatch file with the original Batch ID, post month, and source journal. For example,if the batch was posted to the wrong post month, you could unpost it, changethe post month, and then post it to the correct month. Also, if the sametransactions were entered into two different batches, and both were posted beforethe error was discovered, you could unpost one of the batches and then deleteit. You will not be able to unpost batches for any month which is marked closedin the Company File.

To unpost a batch, select Unpost GL Posted Journal Entries from the JournalEntry Drop-Down menu, or Unpost Regular Batch from the Maintenancecolumn of the Quick Menu. You will see a list of posted batches ordered bybatch ID. If the batch you want to unpost is not showing on the list, scroll downuntil the batch is visible or enter the batch ID. Highlight the batch and click theUnpost button. Batches posted to budget and memo accounts can also beunposted as needed, using the Unpost Special Account Batches menu option.

If you get the message that a duplicate batch ID would be created by unposting,a batch by that ID already exists and is waiting to be posted. Either post thebatch or modify the batch ID of the unposted batch to allow the unposting tooccur.

Modify Batch NotesYou can change, delete, or print selected batch notes, and perform queries tofilter your data.

Modify Batch Notes for Special AccountsLike regular postings, you can add notes to budget and memo account batches,and in this section you can modify, delete, or print selected notes.

50 General Ledger


(6) Perform an Account InquiryReviewing the activity of specific accounts is an important requirement for makingmanagement decisions. The General Ledger application provides access toboth summary and detailed account information.

Select Account Inquiry from the Chart of Accounts Drop-Down menu, orInquiry from the Accounts column of the Quick Menu. This screen displaysthe G/L account number, account description, the current balance for eachaccount, and can be sorted by account number or account description.

There are four buttons that provide you with account information: AccountInformation, Journal Entry Transactions, Query and Notes.

Create Reversing BatchAs an alternative to unposting errant batches, reversing batches can be createdto offset the posted batches if you wish to keep the original batch on record. Tocreate a reversing batch, scroll through the list of posted batches, highlight thebatch that you wish to reverse, and press Reverse. A reversing batch entry willbe created, and sent to the Enter/Modify Journal Entry Batches screen, readyfor you to modify or post.


Accounting Software

Account InformationThe Account Information button will show you the Account number anddescription, the subtotal flag, the beginning balance, the monthly net changes,and a month-by-month balance figure for the highlighted account.

The Budget, Prior Year, and Memo Account figures can be viewed by clickingthe appropriate tab.

52 General Ledger


Journal Entry TransactionsThe Journal Entry Transactions button from the previous page, will provide areport of all the ledger transactions for every account number. The transactionscan be according to Account Number, Batch ID, J/E Source, Post Month,Description, or Check Number. Sorting by check number will display only thetransaction lines that include a check number.

Like the Detail screen, the Query Wizard and Batch information buttons arealso available to help you refine your account inquiry.

The Detail and Special buttons will show the ledger detail for the current yearin the account shown, sorted by date. If you wish to view the batch detail for anyentry, highlight the entry, and press Batch. You can also perform a Query tofilter the data, based on your own set of criteria. Prior and Next can be used tonavigate through the Chart of Accounts.


Accounting Software

(7) Print Net Change Verification ReportIn situations where new records are being written to a file or fields are beingupdated on existing records, there is a chance that hardware problems, powersurges, or other anomalies could cause interruptions in the process.

For example, a transaction is posted, but due to difficulties, the net changefigures did not get updated. This report will help locate such problems quickly.It compares each month’s net change figure with the total of all posted journalentries for the month. Placing a check in the Update Coa Net Changes optionwill set the net change figures so that they are equal to the posted journal entrytotals when there are discrepancies.

If posted journal entries are missing from the Posted Journal Entries file, theymust be entered again in a new journal entry batch. The Net Change Verifica-tion report, when being used to update the Chart of Accounts, assumes that theinformation in the Posted Journal Entries file is correct.

54 General Ledger


Chapter Four

General Ledger Reports


Display Monthly Trial Balance Totals 56

Monthly Trial Balance Report 57

Working Trial Balance Report 58

MTD/YTD General Ledger Report 59

Financial Statements 59

Cash Flow Statements 61

Posted Journal Entry Detail Report 62

Net Change Report 63

Running Balance 63

Posted Journal Entry Edit Journal 64

56 General Ledger


General Ledger Reports

There are several reports related to the General Ledger and the Chart of Ac-counts that are available under the Reports menu. They are listed in the orderthey appear.

Display Monthly Trial Balance TotalsIf you would like to check the activity for a given month without printing theMonthly Trial Balance report, you can display the Monthly Trial Balance totalson the screen. If your General Ledger is out of balance, this display can helpyou find the problem. If the trial balance beginning and ending balance totals donot equal zero, and/or the total credits do not equal the total debits, you shouldexamine the transactions and net change figures for that month. The NetChange Verification Report, within the Chart of Accounts menu, will helpyou determine which specific accounts are causing the problems.

To display this report, select Display Monthly Trial Balance Totals from theReports menu. Enter the post month you wish to display and click the OKbutton. The results will appear as below:

Click the Cancel button when done viewing.

57Chapter Four -- General Ledger Reports

Accounting Software

Monthly Trial Balance ReportThe Monthly Trial Balance Report identifies the year-to-date balance of eachaccount at a particular period of time. The period of time is based on the monthidentified in the post month field. The report lists each account number in theChart of Accounts, along with the account title, beginning balance for month,total debits, total credits, and ending balance for post month. At the end of thereport, total debits for all accounts are compared with total credits for all ac-counts. The Monthly Trial Balance report may be printed at anytime, for anyaccounting period, to provide a summary look at the year-to-date balances atthat particular time.

Select Monthly Trial Balance from the Reports Drop-Down or Quick Menus.You will be asked to provide the following information:

NOTE: The beginning balance figures in this report are calculated by addingthe beginning year balance and the appropriate monthly net changebalances from the monthly net change file.. If the beginning balancefor the monthly trial balance does not equal the total for the workingtrial balance, you should run the Net Change Verification report.

58 General Ledger


Enter the Post Month on which you wish to report. Any post month from 1 to 18can be selected. If you want to include accounts with zero balance and show noactivity, change the flag to N.

The account number range can be used to limit the accounts included in thereport. The browse button can be used to find and fill in the account numbers.

Another option is the ability to select accounts by masking. To enter an accountmask, type over the question marks and enter the account numbers that youwant. If, for example, you have accounts ending with the suffix -01 to designatea department, enter the department designation at the appropriate position inthe mask. Only those accounts that meet the masking criteria will be reported.

You can also limit the report to specific source journals by clicking the journalyou wish to include in the report. More than one source journal may be selected.If no journals are selected, then all are reported.

The Preview button allows you to view the report prior to printing. The Printbutton sends the report immediately to the printer, and the PDF button will createa PDF document for future reference.

Working Trial Balance ReportThe Working Trial Balance Report provides a summary of activity for a givenmonth. The report lists each account number in the Chart of Accounts, theaccount title, the balance at the beginning of the month, the total debits andcredits for the month, and the ending balance. At the end of the report, totaldebits for all accounts are compared with total credits for all accounts. TheWorking Trial Balance report may be printed at any time, for any accountingperiod, to provide a summary look at account activity for that period.

The Working Trial Balance Report uses the same criteria as the MonthlyTrial Balance Report to determine the contents of the report. The report alsohas the Preview, and PDF options.


Accounting Software

MTD/YTD General Ledger ReportThe MTD/YTD General Ledger Report provides detailed information about eachtransaction for the period selected. The account number, account title, andbeginning balance for the year is printed for each account in the Chart of Accounts.For each transaction posted against the account during the reporting period,the report lists the transaction date, transaction description, batch ID, and debitor credit amount. After listing all detail transactions for an account, a total isprinted showing all debits and credits for the reporting period, along with theending account balance for the reporting period.

The reporting options available in this report are the same as in the MonthlyTrial Balance report, but you also have the option to set subtotal flags whencreating or modifying the Chart of Accounts. These flags are used to trigger theprinting of subtotals in particular areas of your report.

The Report may be printed for any accounting period to provide a completedetailed list of all account activity at that given point in time. Use a post monthrange of any months between 1 and 18 to select the reporting period. Enter thesame number in the post month range fields to create a Month-to-Date LedgerReport.

Financial StatementsTo print the Financial Statements, select Financial Statements in the ReportsDrop-Down menu, or Print Financial Statements from the Quick Menu. Enterthe accounting period for which you wish to print the statement and any seriesidentifier if you have them set up.

60 General Ledger


Income StatementThe Income Statement is a statement that reports profits based on income andexpenses. Expenses are subtracted from income to produce either a profit orloss. Two income statement formats have been provided. The first incomestatement has columns for current month and year-to-date income, expenses,and gross and net profit. The second income statement includes an additionalcolumn reflecting the percent of gross sales by subtotals.

Prior Year ComparisonThis report prints six columns of financial data. The first three columns showthe current period balances, current period balances of the last year, and thedollar variance. The last three columns show balances for the current year,year-to-date; the last year, year-to-date; and the dollar variance.

Budget ComparisonThe Budget Comparison report includes the same six column format as thePrior Year Comparison report. It compares current period actual figures withcurrent period budget figures.

Highlight the report you wish to print and click either the Print, Preview or PDFbuttons.

Nine report formats have been set up for you in the Financial StatementGenerator, and are included in the Sample Data. These reports include:

One-column Balance SheetTwo-column Balance SheetThree-column Balance SheetIncome StatementIncome Statement with PercentagePrior Year ComparisonBudget ComparisonPrior Year Balance SheetBudget and Prior Year Comparisons

Balance SheetThe Balance Sheet reports the condition of the company. The report comparesAssets, Liabilities and Capital accounts. The name of the report, defined in theFinancial Statement Generator, is Balance Sheet 1- Col, Balance Sheet 2-Col,or Balance Sheet 3-Col.


Accounting Software

Prior Year Balance SheetThe first column shows year-to-date figures for the current year. The secondcolumn contains figures for the entire prior year. The third column shows thedifference between the first two columns.

Budget And Prior Year ComparisonThe Budget and Prior Year Comparison Format is a 5-column report. The firstcolumn contains current year year-to-date totals. The second column containsthe year-to-date budget. The third column includes totals for the entire prioryear. The fourth column displays the difference between columns 1 and 3, andthe fifth column displays the difference between columns 1 and 2.

Existing Financial Statements can be modified and new Financial Statementscan be created to reflect the structure of any Chart of Accounts. Chapter 5explains how to customize your Financial Statements.

Cash Flow StatementsThe statement of cash flows reflects cash receipts and cash payments dividedinto investments, financing, and operating activities. The Cash Flow Statementprovided is modeled after the indirect, or reconciliation method, as defined byFASB 95, and reports year-to-date figures.

All of the information needed for this report can be extracted from the accountsused to generate the Balance Sheet and Income Statement.

After you have entered the account information (see Chapter 5, Cash FlowStatement Maintenance) for each format line, you should print a copy of thereport so that you can check it for accuracy.

Select Cash Flow Statement from the Reports Drop-Down menu, or PrintCash Flow Statement from the Quick Menu. Enter the final month of thereporting period if different than the month displayed. If any transactions occurredin the five categories listed, enter the total amounts in the lines provided.

Like the Financial Statements, the Cash Flow Statement format can be modifiedto reflect an individual Chart of Accounts. This process is described in Chapter5.

62 General Ledger


Posted Journal Entry Detail ReportThis report has been designed to allow you to examine your posted journalentries. You can print reports that are sorted by account number, post month,Batch ID, description, or source journal. For example, you can print all cashreceipt journal entries for a particular account number, sorted by Batch ID.

Select Posted Journal Entry Detail from either the Reports Drop-Down orQuick Menus. Choose which report order you would like, the choices beingAccount number, Batch ID, Post Month, or Description.

The Optional categories can be used to further limit the report results. An accountrange, with browsing for the account numbers, can be selected if you don’t wanta report on the entire Chart of Accounts. An account mask can also be selected.Ranges of Journal Entry dates and Post Months can be specified. The reportcan be limited to a specific Batch ID, Description, or dollar amount, although thedollar amount will only include detail lines that match the dollar amount, notinclude all lines from a batch that contains that amount. The Source Journalcan also be specified for up to nine source journals.

Any option left blank will not filter the results of the report.


Accounting Software

Select the net change category you wish the report to include. The categoriesare Current net changes, Budget net changes, Prior Year net changes, andMemo net changes; only the net changes for the specified account category willbe reported. If you wish to include accounts with zero balance and no activity,change the flag from Y to N.

If you want to print the report for only certain accounts, enter either an accountnumber range or an account mask.

Click the Print, Preview, or PDF buttons when your selections have beenmade. Cancel will exit the report screen without generating the report.

Net Change ReportThis report lists requested accounts and their net change figures for twelvemonths. The total net changes for each month are printed at the end of thereport.

Running Balance ReportSimilar to the net change report, the Running Balance Report displays themonthly balance figures for each of the current year, prior year, budget andmemo accounts. The report has an option fo display only accounts with monthlyactivity and a non-zero balance, and the report can be viewed for a specificrange of accounts. Each report has the option to Print, Preview, or can besaved as a PDF document for future reference.

64 General Ledger


Posted Entry Edit Journal for Regular and Special AccountsThese reports will print Audit Trails for posted batches based on the batch type.This will work for all batches, as the Batch Number will always be unique evenif the Batch ID is used for more than one batch.

Select the batch for which you wish to print the report. The text box is alsoavailable if you know the batch ID. The scroll bar on the right allows you tonavigate through the list of batches.

Click the Print, Preview or PDF buttons when your selection has been made.Cancel will exit the report screen without generating the report.

Chapter Five

Financial & Cash FlowStatements


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66 General Ledger


Financial and Cash Flow Statements

MBA’s General Ledger allows you to create a number of financial and cash flowstatements based on your reporting needs. Existing statements can be easilycopied from one company code to another, modified with a few quick procedures,previewed, and printed quickly and easily.

Financial Statement Format SetupMBA’s General Ledger Statement Generator provides you with a number ofoptions for designing a report. In addition to choosing one of the six basicformats previously described, you can custom design the entire contents of thereport. The following areas can be defined:

– Company name– Report headings– Report footings– Column headings– Horizontal spacing– Column selection– Account selection– Consolidation of accounts– Sequencing of accounts– Special account descriptions– Subtotal levels– Subtotal and grand total descriptions– Dollar sign usage– Amount sign (+/-)– Single underlining– Double underlining– Special remarks

How The Financial Statement Generator WorksUsing a sample report as a reference, you can translate your idea into a seriesof records that define each line of a report. In addition to identifying each line ofthe report, each record explains where that line will be placed in relation to theother lines on the report. These records create a statement format for thereport.

67Chapter Five -- Financial Statements

Accounting Software

The Financial Statement Generator addresses each sequence record with anumber and automatically extracts the appropriate data from the Chart ofAccounts Master file to create the desired report.

We recommend following this procedure to Create Financial Statements:

1. Print out a listing of your Chart of Accounts and/or have a copy of anexisting report in front of you.

2. Choose the report format you want, and identify the name of the reportyou are creating.

3. Enter the records required to describe each line on your report.

4. Print out a Statement Format Summary report identifying all the recordsthat you have entered.

5. Correct any errors in the coded report by changing the records youentered in step three.

The program automatically maintains a library of the names of all reports youhave described. When selecting the option to print financial statements, youare asked to select the reports by name. Reports may be run as often as youwant. The formats you entered may also be modified at any time to change thereport.

Financial statements are set up and maintained by using the Enter/ModifyFinancial Statement Formats selection under the Financial Statements menu.

Creating New Financial Statement FormatsIf you are building a new format from scratch, click the upper Insert button. Youwill then need to enter the following information:

Statement Name FieldThe Statement Name field on the Statement Generator Format Screen identifiesthe name of the statement. Up to 20 characters are allowed for a statementname.

68 General Ledger


The six predefined statements supplied with the General Ledger package areas follows:

1. Balance Sheet 1-COL2. Balance Sheet 2-COL3. Balance Sheet 3-COL4. Income Statement5. Income Statement-%6. Prior Year7. Budget Comparison8. Prior Year Balance9. Budget & Prior Year

Statement TypeThere are six basic report types listed on the Financial Statement GeneratorFormat screen: the Balance Sheet Format, the Income Statement Format, thePrior Year Comparison Format, the Budget Comparison Format, the Prior YearBalance Sheet Format, and the Budget and Prior Year Comparison Format.You must select one of these types.

Series FieldsThe Series fields are used to group a number of different financial reports soyou can print all the reports with one command. You can assign each report toup to four different series, which are created using the Financial StatementSeries selection from the Maintenance menu.

When you select the menu option to print financial statements, the applicationallows you to identify a specific series. Selecting a particular series will causeall reports identified in that series to print.

Practical uses of this feature might include assigning all internal reports to aparticular series (A) and all external reports to a different series (B). Reportsclassified as daily, weekly, or monthly may be each assigned a unique SeriesID. You can identify up to 36 different series (26 alphabetic and 10 numeric).However, a particular report may be included in only four different series. Whenyou are ready to print a series of reports, you may select A through F to print thatparticular series.


Accounting Software

Suppress Zero FieldIf you answer Y in this field, the statement generator will not print lines (oraccounts) in your reports with zero values. This feature allows you to shortenyour reports. The default value for this field is N. If you enter nothing in the field,the program assumes you answered N and would like all lines, including thosewith zero values, printed on reports.

Creating New Financial Statement DetailOnce the new statement has been assigned a name, click the lower Insertbutton to begin entering the detail records.

Section TypeThere are three types of print lines in the format, Header, Detail, and Footer.Enter the type by keyboard or by the list box.

70 General Ledger


Detail Type FieldThe Detail Type field identifies what type of record you are processing. Thereare fifteen detail type commands. Study carefully the following descriptions ofeach type.

Each type will be described on the following pages.

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Accounting Software

B - Page FooterThe contents of the Description field will be printed as a footer at the bottomof each page of the report. The column number, limited from 1 to 3 in thefooter, will determine which column will contain the description.

C - Column TitleThe Statement Generator will print the first 15 characters (for a 5 or 6-column report) or the first 20 characters (for a 3-column report) of theDescription field in the column indicated by the number entered in the Columnto Print field.

The Prior Year and Budget Comparison formats allow up to 6 columnheadings. The Budget and Prior Year Comparison allows 5 columns. Whencolumn headings are used, the Column to Print field must contain the numberof the column identifying where the heading is to print. When columnheadings are used, you must create a “C” record for every column on thereport. You can avoid headings for particular columns by creating a “C”record and leaving the Description field blank. A different detail line may beused for each “C” record and the Statement Generator will understand thatall headings are on the same line.

D - Report DateThe Statement Generator will center the report date on the report.

The accounting period and year are entered on the Print Financial Statementsscreen at the time the report is selected for printing. On the report, thename of the month and its last day are printed. For accounting periods 13through 18, “13th month” is printed, for example.

E - System DateThe Statement Generator will print the system date in the heading line. Thesystem date shows the date the report was actually printed, as opposed tothe period for which it was printed.

F - Form FeedThe Statement Generator will start a new page when it encounters thisdetail type. After the printer advances to a new page, the heading isautomatically printed at the top of the new page.

72 General Ledger


M - Company NameThe Statement Generator will center the company name on the report. Thecompany name is taken from the Company Name field in the Company Filerecord.

N - Running SubtotalThe Statement Generator displays the subtotal exactly the same as the Srecord but does not clear the subtotal levels. When the N designatedsubtotals are taken, the 6 accumulators are not affected. (See S below)

P - Period Form 1This type tells the Statement Generator to print the Accounting Period Rangefield in the title area of the report. The range prints as (period) through(period) for example, “January through March.”

When you select the Print Financial Statements option on the Reportingsubmenu, you enter the months you want to print in the Print FinancialStatements screen. The data for these months is then printed on the report.If you entered a P in the Financial Statement Detail screen, the names ofthe months are also displayed at the top of the report.

Q - Period Form 2The Statement Generator prints the period in a format that is commonlyused for Income Statements. That is, for [xx] months ended [yy], where[xx] is the number of months represented in the current-to-date figures, and[yy] is the last day of the current period in month (DD, YYYY) format.

For example, if you are reporting for period 4 of 2000, and you have acalendar year - fiscal year, the period would print as, For Four Months EndedApril 30, 2000.

R - RemarksThe Statement Generator will print a remark starting with the left margin ofthe report. The remark is taken from the Description field. If you want toindent the remark, enter spaces before typing the description. You caninsert blank lines (spaces) in the report by using the R type and leaving theDescription field blank.


Accounting Software

S - SubtotalTells the Statement Generator to add the amounts in all preceding positions(detail lines) and display a total.

The Statement Generator automatically adds all data to 6 levels of subtotals(6 accumulators). When the S type of record is used, a particular level ofsubtotal must be designated. This subtotal level is indicated by entering anumber 1 through 6 in the Subtotal Level field.

When designing a particular report, you must remember that with the Scommand, when a particular level of subtotal is taken, the accumulators forthat level and all lower levels are cleared and set to zero. For example, asubtotal level of 3 would add, display, then clear the amounts for levels 1and 2.

When using the Balance Sheet Format, you are also required to define thesubtotal column (1, 2, or 3).

T - TitleThis type tells the Statement Generator to print the information in theDescription field as a part of the header.

Z - Zero SubtotalThis indicates that the specified subtotal level will be cleared and set tozero. The subtotal level being cleared does not print. The Z tells theStatement Generator to clear the subtotal level designated but not to clearthe lower level subtotals. Only the level subtotal designated is cleared.

/ = - Single and Double UnderlineSingle underline and Double underline will be printed in the columnindicated.

The Balance Sheet Format requires you to identify the Column to Print.However, with the other formats you may leave the Column to Print blank,and the program will automatically underline all columns.

74 General Ledger


Description FieldYou can enter up to 40 characters in the Description field. However, the actuallength of the description authorized will vary with the type of record and thenumber of columns on the report.

General Ledger Account Numbers FieldEnter appropriate General Ledger Account Numbers.

These fields may only be used for type D section type lines with a Blank Detailtype. The Statement Generator allows you to identify the following:

• A specific account number

• Multiple account numbersA maximum of four account numbers may be identified on the sequencerecord. However, additional detail records may be included when morethan four account numbers are required by entering Y in the DetailContinuation field in the additional detail records.

• A Range of account numbers (see below)Up to two ranges of account numbers may be identified on one detailrecord. With this feature you can display a number of different accountson consecutive lines of the report, or you can identify a number ofaccounts that you want consolidated into a summary line on the report.If you need more than two ranges, set the Detail Continuation flag toY on the second detail record.

By default the Account Type will be set to report activity on Regular Accounts.Statements may also be generated for Budget Accounts, Prior Year Accounts,and Memo Accounts.

To list the accounts identified on consecutive lines of the report, the Descriptionfield must be left blank, and you must enter Y in the Print Account Detail field.

To consolidate the accounts identified into a summary entry (one line) on thereport, the Description field must contain the description to appear on that line,and you must enter N in the Print Account Detail field.

Range FieldsThe Range fields indicate whether the account numbers in the G/L AccountNumber fields represent individual accounts or a range of accounts. Both accountnumber ranges can be set as ranges or as individual accounts.


Accounting Software

Percentages - Numerator/Denominator FieldOn the Income Statement format report, account balances and subtotals maybe expressed as percentages of one another. In mathematical terms, the bottomnumber of a fraction is called the Denominator; the top number of a fraction iscalled the Numerator.

The Statement Generator allows only one value to be defined as thedenominator. This value may come from a specific account, or from a groupof accounts. If it comes from a group of accounts, the D must be indicated in asubtotal sequence record.

Typically, all your income accounts are listed on the Financial Statement andthe total of all income (total sales) is displayed with a Subtotal Level Sequencerecord. This record must contain the D.

Each account that you would like displayed as a percentage of sales (the Drecord) must contain an N. This could be any account that appears on thereport, including the income accounts. Every time the Statement Generatorprocesses a detail record with an N identified, the program automatically looksthrough all sequence records until it finds the D record. Once the D record isidentified, the program computes and displays the proper percentage.

Change Sign FieldIn accounting, credit balances are indicated by parentheses. To provide flexibilityto your account numbering structure by not requiring predefined ranges in theChart of Accounts, the Statement Generator automatically places parenthesesaround all credit balances.

You may not want this to happen. The use of parentheses may be specified byindicating that the sign change before printing the amount. If you answer Y inthe Change Sign field, credit amounts print without parentheses. This is mostcommonly used to display liability and net worth accounts in the Balance Sheetand in the Income Account on the Profit and Loss Statement.

Detail Continuation FieldBy entering a Y in this field, the detail line will be considered by the StatementGenerator to be part of the previous detail line. This is useful when summarizingmore than four individual accounts or two account ranges.

76 General Ledger


Print Dollar Sign FieldYou can print a dollar sign ($) in front of account balances and subtotals byanswering Y.

Subtotal Marker For Types (1-6) FieldThe Subtotal Level field is used to indicate which of the six levels of subtotals (1through 6) is to be printed. A subtotal level must be defined if Detail type S isused.

Column Marker (1-6) FieldThe Column field is used to indicate the column in which certain information isto print. Column headings, Underscores, and Balance Sheet Subtotals eachuse the Column field for this information.

Saving the Detail RecordOnce the detail record is complete, click the OK button to save that record.Click the lower Insert button to add the next line. Follow this process until theformat is complete.

Changing the Detail Record OrderTo change the order of the detail lines in the format, the Up and Down buttonsin the lower left-hand corner of the form can be used to move the highlightedline. New detail lines are inserted one line below the highlighted record.

Modifying Financial Statement FormatsThe Change buttons will allow you to modify the highlighted Header or Detailline, depending on which Change button is clicked.

The Delete lines will remove the highlighted line. If the upper Delete button isclicked, the entire highlighted format will be deleted. The lower Delete buttonwill remove only the highlighted detail line.

Printing the Financial Statement FormatSelect Print Financial Statement Formats from the Financial Statementsmenu. Highlight the format to print and click the Print or Preview button.


Accounting Software

Copying Financial Statement FormatsExisting Financial Statements can be copied into new statements from anyexisting company code. If you are using more than one company code, forexample, you can create the formats in one company code and then copy theminto any other company code; if the Chart of Accounts is set up with the samestructure, there may not even be a need to modify the format in the secondcode.

Select Copy Financial Statements from the Financial Statements menu.

78 General Ledger


Copying in the Current CompanyIf you are copying the financial statements within the current company, click theupper option and then click OK. You will then be asked the name of the financialformat you are copying from, and to supply the name of the new format. Theexisting format names are loaded into a list box for you to browse.

Note: The name you enter in the new financial statement field cannot be thename of an existing format.

Copying from Another CompanyTo copy formats from another company into the current company, select thelower option. You will be asked to provide the company code that you want tocopy from; a list of existing company codes is provided ($FIN is a companycode that holds formats based on the predefined Charts of Accounts. If you’dlike to copy a financial statement for the predefined Chart of Accounts, add thiscompany code into the system). Click the OK button to view the available formatsfrom that company code.

To select the format you wish to copy, highlight the format name and click theTag button. An asterisk will appear in the left-hand column to indicate that theformat has been selected for copying. Tag any formats you wish to copy.

Click the Tag All button to mark all formats for copying.

Formats can be deselected by clicking the Untag or Untag All buttons.

The Show Tagged button will display only those formats that have been tagged.It also changes the button function and caption to Show All formats. Click OKto copy the tagged formats.


Accounting Software

Cash Flow Statement MaintenanceTo set up the cash flow statement, you must identify which balance sheet andincome statement accounts make up each line of the statement. The first timethat you select Cash Flow Statement, the program will generate the 43 formatrecords required for the statement. Each format line has a line number, apredefined title, a Description field, and Multiple Account fields.

Some of the lines appear directly on the cash flow statement, and others areused in calculations which appear later on the statement.

Create the Cash Flow Statement FormatTo set up the Cash Flow Statement format, select Cash Flow StatementMaintenance from the Financial Statements menu. The first time you makethis selection, the Cash Flow Statement format headers will be automaticallygenerated.

Note: The name of the financial statement from the original company codecannot be the name of an existing format in the current company code.

80 General Ledger


Modify the Cash Flow Statement FormatAfter the format headers are created, you will have to modify the detail lines foreach header. Do this by highlighting the detail line that needs to be modified(the initial structure will only have one detail line per header with no accountinformation in it) and clicking the Change button.

Enter the accounts or account ranges that pertain to each header title. Maskingcan be used as well to create lines that specify the accounts that meet themasking criteria.

Once the detail lines are in place, click the OK button to save the detail. TheNext and Prior buttons will move you to a different detail line without saving anychanges you have made. Modifications can be made at any time.

Print the Cash Flow Statement FormatAfter you have entered the account information for each format line, you shouldprint a copy of the format so that you can check it for accuracy. The formulasused to create Cash Flow Statements are listed. The line numbers refer to thetotal net changes of the accounts listed on each of the 43 line numbers in theCash Flow Statement format.


Accounting Software

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Cash Flow Statement Formulas:

82 General Ledger


Chapter Six

General Ledger FileMaintenance


Year End Close 84

Year End Close Procedure 85

Perform Year End Close 86

Spreadsheet Interface 87

Import/Export Files 87

84 General Ledger


Year End CloseNote: You may want to use the Year-End Roll Wizard found in the Utilitiesmenu, which will walk you through performing the year end close in all applica-tions.

Backup Current Data FilesPrior to closing out the year, you must make a final backup of your data files.This ensures that, should the year-end close procedure produce undesiredresults, the data may be restored easily. It also supplies a backup audit trail ofprevious year’s activity.

MBA Series 3 provides you with a quick and simple method of backing up yourdata, which is accessible from the Backup selection in the Utilities menu (seeSystem Manager manual).

Run the Net Change Verification ReportVerify that there are no discrepancies between the Chart of Accounts net changefigures and the Posted Journal Entry file before closing the year.

Discrepancies may occur between the monthly totals in the Chart of Accountsfile and the monthly totals from the Posted Journal Entry file. Before closing theyear, you should run this report to correct these discrepancies.

Print Year-To-Date General LedgerThe Year-To-Date General Ledger report contains a list of all transaction detailfor the year. A final Year-to-Date General Ledger report should be printed. Thisreport details the account status at the end of the fiscal year.

85Chapter Six -- GL File Maintenance

Accounting Software

The year-end close procedure uses information from the company filemaintenance record to perform the year-end close. Because of this, it is stronglyrecommended that you review the displayed company information foraccuracy before you perform the year-end close.

Year End Close ProcedureThe year-end close procedure clears balances for income and expense accountsand calculates retained earnings.

The year-end close automatically zeroes out the beginning balance and netchange amounts in each current income and expense account; it then calculatesthe profit or loss. An entry is automatically made to post the profit or loss to thebeginning balance of the retained earnings balance sheet account.

NOTE: It is important that the beginning and ending income and expenseaccount numbers are correctly defined in the Company File Informationrecord.

In addition to closing the income and expense accounts, the year-end closesummarizes each balance sheet account to determine the account balanceand brings this balance forward as the beginning balance for the new year. Allmonthly change figures are set to zero. Net changes from the year being closedare automatically transferred to the Prior Year accounts.

Figures that have been posted to post months 13 through 18 will then be movedto post months 1 through 6.

Store Backup Data and ReportLabel the backup data disk with the proper year-end information and store italong with the Year-to-Date General Ledger report.

Copy the Data Files to New Company CodeThis is an optional step, but if you would like to keep a copy of the data filesavailable for quick review, you should create a new company code and copy thefiles before performing the year-end close. Refer to the System Manager manualfor instructions.

Check Company Information FileVerify that the Company Information file contains the proper year-end closeaccount number(s).

86 General Ledger


Perform Year End CloseOnce you have completed the previous steps, you are ready to perform theYear End Close. Select Perform Year End Close from the File Maintenancemenu.

After the roll is completed, the program is ready to accept transactions for thenew year.

There should be no unposted batches in months 13 through 18. If thereare unposted batches in months 13 through 18, they will not automaticallyroll into months 1 through 6. This applies to any transactions waiting tobe transferred from the subsidiary applications as well.

The program will check the subsidiary transfer files to be sure that therearen’t any transactions for post months 13 through 18 waiting to betransferred. Any items in the transfer files will generate a warning, butwill not halt the year-end close.

WARNING: Backup all data before performing the year-end close.

87Chapter Six -- GL File Maintenance

Accounting Software

MBA strongly recommends that you backup your data files immediately prior tothe Close. You are reminded that all batches should be posted and a Year-to-Date General Ledger report should be printed before closing the year.

The Company information that is pertinent to the Year End Close will be displayedfor you to verify. The above example shows the Income/Expense account range,whether or not the Year-to-Date Ledger report has been printed, the RetainedEarnings accounts, and any months that have been closed as indicated by thecheck marks. Any changes that need to be made should be done in the CompanyFile before proceeding with the Close.

All months in the Company File will be marked as open after the year-end closeis complete.

WARNING: Backup all data before performing the year-end close.

Spreadsheet InterfaceThe Genteral Ledger Spreadsheet Interface allows you to send financialinformation from your Genteral Ledger to a spreadsheet.

The Spreadsheet Interface creates an output file with a .csv extension, whichcan be viewed with a spreadsheet program such as Microsoft Excel. All fourtypes of General Ledger Accounts, Regular, Budget, Prior Year, and Memo canbe exported, and you can either export all of the accounts, or select a range ofaccounts to export. You can also select from two types of account formatting toexport: Account number, description, beginning balance for all 18 accountingperiods, or account number, description, and period ending balance for a selectaccounting period.

Import/Export FilesThis menu selection is described in Chapter 4 of the System Manager Manual.

88 General Ledger


Appendix

General Ledger Data Files

File Name DescriptionGL01MBA3.TPS Posted J/E DetailGL02MBA3.TPS Chart of AccountsGL03MBA3.TPS J/E Batch TransactionsGL04MBA3.TPS Company InformationGL05MBA3.TPS Financial Statement FormatsGL06MBA3.TPS Recurring Entries DetailGL07MBA3.TPS Not UsedGL08MBA3.TPS User Defined Data Entry Detail FileGL09MBA3.TPS J/E Transaction Header FileGL10MBA3.TPS Financial Statements Header FileGL11MBA3.TPS User Defined Data Entry Header FileGL12MBA3.TPS Recurring Entries Header FileGL13MBA3.TPS Net Change Balances for AccountsGL14MBA3.TPS Financial Statement Series FileGL15MBA3.TPS Cash Flow Format DetailGL16MBA3.TPS Cash Flow Screen DefaultsGL18MBA3.TPS Cash Flow Format HeadersGL20MBA3.TPS Chart of Account NotesGL21MBA3.TPS Special Account Posted JE DetailGL30MBA3.TPS Batch NotesGL31MBA3.TPS Special Account Batch Notes

NOTE: The ‘MBA3’ is the multi-company code for the MBA Demon-stration Company.

90 General Ledger


91General Ledger

Accounting Software

IndexAAccount Information 51Account Inquiry 50Account Number21, 25, 27, 35, 40, 43, 44, 51, 58, 74

Sequencing 22Accrual Flag 40Accrual Month 44Asset Accounts 3Assets 3Audit Trails 64

BBalance Sheet 5, 60Batch Entry Methods 36Batch ID 9, 37, 45, 46Beginning Balance 5, 21, 26, 51, 59, 85Budget Account Maintenance.

See Chart of AccountsBudget And Prior Year Comparison 61Budget Comparison 60

CCapital 4Cash Flow Statement Formulas 81Cash Flow Statement Maintenance 79

Creating the Format 79Modifying the Format 80Printing the Format 80

Cash Flow Statements 61Chart of Accounts

Budget Account Maintenance 30Creating New Department Accounts 29Deleting Accounts 29Designing 21Entering 24Ledger Subtotal Flag 25, 59Modifying Accounts 29

Report 26Query Center 28Check Number 41, 44, 52Company File 18, 85Creating a Batch 37, 43

DDeleting Accounts. See Chart of AccountsDisplay Monthly Trial Balance Totals 56

EEasy Entry Template 43

Account Number 43Debit/Credit Designation 43Default Descriptions 43Template Code 43Template Name 43Title/Description 43

Easy Journal Entry 42Creating a Batch Header 43

Debit and Credit Descriptions 44Easy Entry Code 44

Entering the Batch Detail 44Amount 44Check number 44

Expense Accounts 3

FFinancial Statement Format Setup 66Financial Statement Formats

Copying Formats 77From Another Company 78In the Current Company 78

Creating New Formats 67Detail Types 70Modifying Formats 76Printing the Format 76

Financial Statements 7, 59Fiscal Year-End Month 19

92 General Ledger


GGeneral Ledger Menu 14General Ledger Reports 56

IIncome Accounts 4Income Statement 7, 60

JJournal Entry 9

Creating a Batch 37, 43

LLedger Subtotal Flag.

See Chart of AccountsMModifying Journal Entry Batches 46Modifying Posted Journal Entries 48Monthly Trial Balance Report 57MTD/YTD General Ledger Report 59

NNet Change Report 63Net Change Verification Report 31, 56

Printing 53Net Changes

Types 11Updating 53

PPosted Entry Edit Journal 64Posted Journal Entry Detail Report 62Posting Batches 47Prior Year Balance Sheet 61Prior Year Comparison 60

Print Recurring Entry Group 45Recurring Entry Detail 45Transferring an Entry Group 45

Retained Earnings 4, 7, 20, 26, 85Reversing Period. See Accrual Flag

SSequencing 22Setup Procedures 18Source Journal 44Spreadsheet Interface 87Standard Entry

Creating a Batch Header 37Accrual Flag 40Batch Date 39Batch Identifier 37Posting Month 38Reversing Period 40Source Journal Code 39

Entering Batch Detail 40Check Number 41Credit Column 42Debit Column 41Transaction Date 41

WWorking Trial Balance Report 58

YYear End Close

Effect on Retained Earnings 8Preparation 84Procedure 86Q

Query Wizard 50

RRecurring Entry Method

Creating a Recurring Entry Group 44Accrual Month 44

Group Description 44Group ID 4

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