ShelbyNext Financials: General Ledger Foundations (Course #F127)

Transcription

1 ShelbyNext Financials: General Ledger Foundations (Course #F127) Presented by: Mark Fisher Shelby Consultant

2 Objective This session provides an introduction and overview of the ShelbyNext Financials General Ledger application. The following topics are presented in this session: Basic Navigation Setup and Company Information How to Create New Fiscal Year and Period Closing Year-End Closing Account Structure & Chart of Accounts features o Using Sub-Accounts o Running Reports with Sub-Accounts o Moving accounts between departments Managing Journal entries Running Basic Reports Using View as an inquiry tool 2

3 Basic Navigation 1. Applications: Menu to navigate to other financial applications 2. Enter: (NEW things) Create manual journal entries and recurring journal entries. 3. Manage: (EXISTING things) Post unposted journal entries and recurring journals. 4. View: INQUIRY in v.5 for all modules 5. Reports: Standard General Ledger reports plus Special Reports 6. Modify: (CONFIGURATION & SETUP) Utility options from v.5 GL 7. Utilities: TOOLS for correction, adjustment, or maintenance 8. Breadcrumbs: Navigation path links 9. Widgets: Selectable list of graphs and shortcut links 10. Right Navigation: A sidebar navigation with commonly used links as well as customizable shortcuts 11. Current Financial Settings bar: Settings for Company, Fiscal Year, Period, and Bank Account. The settings on this bar control where and when Journals are posted and reports are run. 3

4 Setup and Company Information Modify > Company Information: Modify Company Information allows you to edit the details of the currently selected company. You can also click the Add New Company link to add a new company. You can select a different company by clicking its link on the right panel. Select the Default Year and Default Period using their drop-down lists. There is also an option to Send Entry to Bank Account Management. If you choose to Require the Posting Date and the Period to match on Sub Ledger Journals, then your Posting Date always needs to match the currently selected period when finalizing to General Ledger in other applications. 4

5 Create New Fiscal Year and Period Closing Modify > Year and Periods The Modify Year and Periods page allows you to edit the details of the currently selected year. You can also click the Add New Year link to add a new year. Select a different year by clicking its link on the right panel. There are options to Include Audit Period, Close Year, as well as to change the Number of Periods, Begin Date, and End Date. The names of the periods can all be changed, and checking the Closed option by any period closes that period. 5

6 Year-End Closing Utility > Close Fiscal Year The Fiscal Year Closing utility allows you to close a fiscal year individually for each company. Since the General Ledger supports having multiple years, you can make adjustments to a prior year at any time after closing and then run the Close Year utility again to update the opening balances for the next year. The right navigation panel contains the Prior Closing area which lists all the previous times that the currently selected year is closed. The Close Date column displays the date that the year is closed, the Closed By column displays the name of the user who performs the closing. Click the View Source link to view the Year End Closing Entries Report for that particular closing (if applicable). 6

7 Account Structure Settings General Ledger > Modify > Account Structure > Settings On the Account Structure page click the Settings link to select how you want your structure to be set up. There are three levels in the Balance Sheet section and three levels in the Budgeted section. Both sections are hierarchal: In order to select a higher level, you must select the level below it. The Balance Sheet section contains Region, Fund Group, and Fund; the Budgeted section contains Location, Cost Center, and Department. Each of the level descriptions can be customized (up to 25 characters in length). In conversion from v.5 the basic Chart of Accounts remains the same. Funds and Departments work the same as in v.5. Location and Cost Centers allow for grouping of Departments and creating totals by level. Sub-Accounts are a great addition in ShelbyNext Financials. Checking this option allows you to expand current detail accounts to Sub-Accounts that can roll-up into the existing detail Account. Sub-Accounts can be used immediately without major changes to reporting or Account Structure. 7

8 Account Structure General Ledger > Modify > Account Structure Modify -> Account Structure allows you to set up and maintain the structure of your Chart of Accounts. NAVIGATION: 1. The Expand All button completely expands the grid, while the Collapse All button collapses it down to the top levels. 2. Click the Add New Fund Name button to create a new Fund. 3. Click the Add New icon on a Fund row to add a new department. 4. NEW! Departments can now be inactivated. Click on the Edit icon to open a specific Department and make changes. 5. List of all Departments NOTE: You can also select to Copy from another equivalent level (e.g., adding a new Fund allows you to copy levels and accounts from an existing Fund with the same structure). You can choose to copy inactive levels and accounts as well. 8

9 Chart of Accounts Options Modify > Chart of Accounts Filters allow you to select Account Type and a specific Fund and Department to view. View of Specific Department To view a specific Department, choose a Fund and a Department from the filters. Only one Department is viewed and edited at a time. Browse the grid manually or click the Expand All button to completely expand the grid. The Collapse All button collapses the grid down to top level groups. This is the COA maintenance page where groups, accounts, and sub-accounts are added. 9

10 Chart of Accounts Add a Group Modify > Chart of Accounts Account Groups is the new tool to create subtotals within a department and include Headers, if desired. Enter a starting account number and ending account number. All accounts within this range result in a total line at the end of the range. Choose between an Income or Expense type. This creates a subtotal within a department. All groups created in this way are within a department. Check the box for a header line, if needed. Cross Levels: The Cross Levels? option allows you to create a group that totals across levels in your account structure. This is only applicable to Budgeted Levels (Location, Cost Center, and Department). When using this option, a total line is created for display in reports. It displays total amounts based on the ending level selected as well as the account number. Add this group in the department from which you want to start totaling. Once the option for Cross Levels is selected, select an ending level and enter an ending account number. The Starting # and Ending # fields do not have account selectors so they can be used as a range. If you create new accounts within this range, they are included in the total as well. The following reports display Cross Level Group totals: Statement of Activities, Budgeted Financial Statement, Financial Spreadsheet, Comparative Trial Balance, and Preliminary Budget. 10

11 Add Account Modify > Chart of Accounts > Selected Department Level Add Account Follow same account number strategy as with v.5. Click the Add to Levels button to duplicate an account number across funds and departments. Existing account numbers can be changed on this page. NEW! You now have the option of selecting GAAP Restriction Type and Functional Expense Type. 11

12 Add Sub-Accounts Modify > Chart of Accounts > Department > Account Create a Sub-Account description and number. Budgets can be used with Sub-Accounts. Allows for detailed cost accounting without creating additional account numbers in the Chart of Accounts. When printing reports, Sub-Accounts can be displayed in detail or rolled up into the account number. 12

13 Run Reports with Sub-Accounts Reports > Budgeted Financial Statement Results When printing Sub-Accounts, the budget and actual figures display. If the Print Sub-Accounts option is not selected, then Sub-Account budget and actual figures roll up into the primary account. 13

14 Move Accounts between Departments Utility > Move Account This tool is similar to the v.5 utility change Fund, Department, and Account number. This tool moves an Account from one Department to another within the same Fund. It does not renumber the Account number. To renumber the Account number, go to the Chart of Accounts page and change the account number. 14

15 Manage Journal Entries Enter > Manual Journal Entry There are three tabs: Details, Attachments, and Note. Journal entry details remain the same debits and credits they must balance across Funds in order to save this entry. Use the Add New icon to add detail lines individually or in multiples. On the Attachment tab, click the Add New Attachment link to display a window where you can put in a Note and click the Choose File button by any of the four Add File fields to attach files. You can also click the Scan link by Scanned Files to display a window where you can paste or scan an image. Click on the Apply button to save and open new and click on Update to save and close on the last entry to move to the Unposted Journals page. NEW! Each journal entry now has the option to connect with Bank Account Management. 15

16 Manage Journal Entries Manage > Unposted Journal Entries Use the Filters to view the journals you wish to post or simply select the specific entry using check boxes on the left. Running an Edit Report is no longer required but is still available to double-check your entries before posting. NEW! Sub-ledger journal entries can be posted when finalizing transactions in the subledger. 16

17 Finalizing Sub-Ledger Journals Accounts Payable -> Manage -> Unposted Transactions EXAMPLE: Finalizing Invoices in Accounts Payable The Post Directly to General Ledger without Editing option allows you to have your journal entry posted all the way through to the General Ledger history so that it can be viewed on reports and on the View Posted Journals page within General Ledger. This allows you to skip having to edit and post the journal entry in the Manage Unposted Journals page in General Ledger. This option is available in all sub-ledgers that require posting to the General Ledger. 17

18 Recurring Journals Manage -> Recurring Journals Click Report Preferences on the blue bar above the grid to access these options for filtering such as Journal Type, Status, or Recurring Type. Click the Copy icon by any recurring journal in the grid to create a copy of that recurring journal. Double-click an existing journal or click the Edit icon to make changes. Click the Add New Recurring Journal link to add a new recurring journal. Click the Delete icon by any recurring journal in the grid to be prompted to delete it. The Recurring Journal Edit Report button is available once you select at least one recurring journal in the grid. You can also select the top box to select all manual checks in the grid. Clicking this button displays a preview of the List of Recurring Journals report. Select the journals you want to transfer within the grid. You can also select the top box to select all recurring journals in the grid. Click thetransfer Recurring Journals button to begin the transfer process. Enter the posting date when prompted and then complete the finalization of the journals as previously discussed. 18

19 Importing Journals Manage -> Unposted Journals -> Import Journals Import Journals link allows you to import journal entries from a file. This data file must be in a certain format for the journal import to work correctly. You can either import directly from a Microsoft Excel file or from a GLTRN2000.txt file. Click Help -> Import Journals Help to access the format and available columns for the Excel import. If journal or detail line descriptions are not specified in the import, the program uses Imported Journal as the description. You can only import journals into the currently selected company. Change the Current Financial Settings if you want to import journals into a different company. If you are using the Company Number field and its value does not match the currently selected company, nothing is imported. The only Required Fields are Account Number and Amount along with all the fields you are using as part of your account structure (e.g., Fund Number, Department Number). In the Amount field, enter all numbers as positive for debit (+) and negative (-) for credit regardless of account type. 19

20 Running Reports Current Financial Settings bar Report Preferences Filters The standard v.5 reports are still available in the General Ledger. While these reports vary in focus, they share a common reporting layout and function. For most reports, the Current Financials Settings bar is now the place to establish the Period for which the report is run. Report Preferences on each report allows you to select Filters (for Funds, Departments and Accounts) to produce results only on selected sections of the COA. 20

21 Running Reports Report Preferences Options Options vary for different reports, but each allows you to tweak parameters or presentation in some way. See the sample Budgeted Financial Statement below. Report Viewer Click Run Report, and the report results display in the Report Viewer. 1. Navigation Click the arrows to navigate through the pages of the report. 2. Document Map Click on the chapter or section links in the Document Map. 3. Editing Report Preferences Clicking here returns to the Filters & Options area. 4. Export options Multiple formats for export are available. 5. Print The printer icon allows you to print the report directly from this page. 21

22 Using View for GL Inquiries View > Posted Journals View Posted Journals allows you to easily view activity on journals already posted to General Ledger. You have access to several Posted Journals Filters: Levels, Account range, Sub-Account, Journal Type, Journal Number, Projects, Description, and Date. In the results grid there are rows for Opening Balances, All Periods, and each of the periods individually. Click the Expand icon by any journal to display the details of that journal including another grid containing the Details, Attachments, and Note tab from the journal. You also have access to the following functions: o Reverse Only: Creates an exact opposite (debits and credits) of the selected journal in Unposted Journals. o Copy Only: Creates an exact copy of the selected journal in Unposted Journals. o Reverse & Copy: Creates both an exact opposite and an exact copy of the selected journal in Unposted Journals. o View Source Document: Only shows on journals coming from other applications and transferred recurring journals. Click this to view a.pdf of the source document associated with the current entry (e.g., Check Register). o Drill Down: Only shows on journals coming from other applications. Project Codes can still be changed in inquiry. 22

23 Drill Down to Inquiry from Reports Use Statement of Financial Position (Balance Sheet), Budgeted Financial Statement, and Statement of Activities (Income & Expense Report) to drill down to Inquiry. Click on any column with Actual activity. This will take the user to View Posted Journals. 23

24 Mark Fisher Shelby Consultant Mark Fisher has been a Shelby Independent Trainer since 1998 and currently serves Shelby customers as a Shelby Consultant training in Shelby v.5, Arena, and ShelbyNext. He was previously the Business Administrator at Shandon Baptist Church in Columbia, SC where he gained valuable experience with Shelby software programs. Mark s unique blend of skills and experience allows him to tell not only how the software works, but also how to integrate the software into practical accounting solutions and improve customers processes.