Accounts Sub Listing

Displayed are the four Tab menus.

1.General Ledger

2.Chart Entry

3.Journal Entry

4.Bank Clearing

5.GL Summary

General Ledger

Displays Current or History of General Ledger.

 

In the centre of the screen above the grid, is the tick box,this function allows the user to view only the current transactions.If the tick box is not ticked then all archived and current transactions will be opened for the general ledger to be viewed by the user.
Navigate the data by using the scroll bars on the side and bottom of the screen.

The default General Ledger columns displayed are:

GEN_JOURNAL - Journal document numbers created for all invoice payments, receipts, and general journal entries.

TITLE – Name of account

ACCOUNT – General Ledger account number

JE_TYPE – Journal entry type of transaction entered, ie:

*Add policy – creation of the policy generates a revenue, accounts receivable, and account payable entry.


*Add receipt – creates an entry receiving the cash receipt into bank and GST.

*Payment/ Creditor Payment – payment of underwriters, creditors and general payments from the bank account
and creation of expenditure into Profit & loss.

*Add invoices – creation of creditor invoices and expenditure.

*Modify policy – additional changes to a policy generates an additional creditor and accounts payable entry.

*Return payment – reverses cash transaction and clears vendor liability and its related expenditure from the profit and loss.

*Adhoc payment – for using in SWAPS, credit card payments and other miscellaneous payments.

*Reverse Receipts – Reverse receipt of cash received and miscellaneous receipts correction

*NARRATIVE – System generated text from the various modules.

*DEBIT – accounting term

*CREDIT – accounting term

*CLIENT_ID – Customer or Vendor ID

*POLICY_ID – Insurance policy IBFMS id or invoice ID *TRANS_DATE – date of entry of the transaction

*USER_NAME – user name of whom entered the transaction

*GL_ID – Database record identifier

*Chart Entry -Displays, creates and maintains the Chart of Accounts records

*General Ledger Fig.1.2. Display general ledger – using the scroll bar, scroll down to look for the general ledger account.
Creating a general ledger account - after selecting the insert button use the “Chart Entry” to input a class (being Asset, Liability, Owners Equity, Revenue, Cost of Sales, Expenses, Other Revenue, Other Expenses), a unique general ledger number, and a general ledger description.Press the save button to create the new general ledger code Editing a general ledger account – select the edit button , use the “Chart Entry” to the enter amendments to the asset class and description.Save any changes, press the save Deleting a general ledger account – select the row contain the general ledger number to be deleted, and press the delete button Journal Entry The function allows the user to create a general journal.The general journal allows a user to adjust the general ledger.

General Ledger Fig.1.3

Entering a journal - the first drop down menu selects the general ledger code. The first numeric box is used to enter the debit amount and the second numeric is used to enter a credit amount.
The narrative is used to description the journal.The final two drop down boxes are used to add a note onto the journal line, the user may select a client and then their associated policy id. Once a line has been completed, the journal will advance to the next line.The journal entry will continue only until the tenth line.If additional lines are required, select the insert button .
To delete a line, select the line and press the delete button

Balancing of the General Journal – The sum of all lines with debit amounts should equal the sum of all lines with credit amounts.If they do not equal, re-check the amounts and then edit the individual lines.
Commit the journal – once the user is satisfied of the journal press the commit button
Deleting all lines – to clear all journal lines entered in the current journal, press the reset button
Bank Clearing The function allows the bank account to be reconciled to the cash book balance in the system. General Ledger Fig.1.4
Select the bank account to be reconciled, enter the statement number and the statement end date.
Finally, enter the closing balance from the statement into the numeric box.
Then double click transactions matching clearing amounts to statements. Press the reconcile button to produce report.