ShelbyNext Financials: General Ledger Foundations (Course N33)

Transcription

1 ShelbyNext Financials: General Ledger Foundations (Course N33) Presented by: Bill Ballou Shelby Training Manager 2017 Shelby Systems, Inc. Other brand and product names are trademarks or registered trademarks of the respective holders.

2 Objective To gain a general understanding of the core functions necessary to operate the General Ledger application within ShelbyNext Financials. This session presents the following topics: Set up the General Ledger ( the basics ) How General Ledger in ShelbyNext Financials differs from Shelby v.5 How to design and manage your Chart of Accounts How to enter budgets How to add, manage, and post journals How to view Posted Journals 2

3 Move through the Application Here are just a few things that might be helpful as you learn how to navigate through this application. While this browser interface feels significantly distinct from the Shelby v.5 environment, many of the terms and certainly the functionality remain the same. You can always use the Help icon to find help about the page you are using. Navigate to the Application To begin using General Ledger, you need to hover over the word Applications in the upper left of your page and then click General Ledger. Use this path to move between applications. You can hold the Ctrl key on your keyboard while clicking an application to open that application in a new tab in your browser. Navigate within the Application 1. Top Navigation (Hover for drop down lists.) 2. Current Financial Settings (Set Company, Fiscal Year, Period, and Bank Account.) 3. Right Navigation (shortcuts for My Tasks and My Reports in addition to Proximity Buttons to jump to the next task) 4. Breadcrumbs (Navigate back through the path that brought you to the current page.) 3

4 In the top navigation there are drop down lists where the links are grouped to help you move within this application. These links are grouped by six categories: Enter: (create new entries) Manual Journal, Recurring Journal Manage: (Process existing) Unposted Journal, Use Recurring Journal View: (Inquire on Posted Activity) Posted Journals, Source Documents Reports: (Show Reports) Monthly Reports, Special Reports, and more Modify: (Set up and Maintain the application) Company Information, Financial Structure, Chart of Accounts, Budget, and more Utilities: (Special use operations) Move Accounts, Close Fiscal Year Current Financial Settings In the upper right corner of every ShelbyNext Financials page there is a control that allows you to alter your financial settings. You can control which Company, Fiscal Year, Period, Bank Account, and Credit Card you are set to use. This controls where you post, what shows up on the reports, and what Bank Account you use. 4

5 Personalize Navigation (Create favorite tasks or reports) Users often have regularly accessed tasks associated with their duties. You can save these frequently needed tasks or reports in the right navigation bar. To add something to this right navigation, click the Add To My Tasks link in the upper right of your work area to add this task to your shortcuts (found under My Tasks in the right navigation bar). To add a report, click the Add To My Reports link when running a particular report. Retrace Your Steps Using the breadcrumbs or links to return through the steps leading to the page you are using is another way to navigate. This way you can jump back to any of the pages in the path from the main Financials application Dashboard. Open Multiple Tabs or Windows One nice feature of many browsers (Internet Explorer and Google Chrome for example) is that you can open more than one tab or browser window at the same time. To click and open another application in a second tab, hold your Ctrl key on your keyboard while clicking the desired link, or you can right mouse click to see other options. Holding the Shift key while clicking a link opens that application in a new window (good if you are working on dual monitors). 5

6 Basic Setup of the General Ledger Set Up a Company While the mechanics of setting up a new company are a bit different, the philosophy and approach is much the same as in Shelby v.5. To set up or change a Company, go to Financials > General Ledger > Modify > Company Information. The company you are working with shows in the main page area, and other companies show in the right navigation bar under Company Information. To add a new Company, click on the link Add New Company link towards the upper left of the work area on the page. 6

7 This is where you set the default year and the default period that you and other staff are currently using in your database. (You can easily choose to change from the default settings by using the Current Financials Settings when making entries or running reports.) There are two important check boxes at the lower part of this page. One allows you to set a default that any manual journal entries synchronize to the Bank Account Management application. You can override this on any manual journal, if needed. The second check box allows you to require all entries to have dates that match the period when posting from a sub ledger such as Accounts Payable. This helps you keep your sub ledgers in balance with your General Ledger. Since reports can be printed based on dates or periods, using this option forces the journal dates to agree with General Ledger periods. It is highly recommended that you check this box. Select the Create Separate Bank Items For Each Detail Line? option if you want to create a separate Bank Reconciliation Item for each bank account detail line when a manual journal is posted. (Not typical) 7

8 Set Up a Fiscal Year and Periods Once you have established a financial company, you then need a new fiscal year for all your financial activity. All levels, accounts, and financial activity belong to a fiscal year. Each year you set up your Account Structure and your Chart of Accounts. Fortunately, you do not have to reenter this information each year since the program asks if you want to automatically copy over the accounts, levels, and possibly the budget from the prior year. You have the option to include an Audit Period or to control whether the year is locked to prevent journal entries by using the Close Year checkbox. You can also close (or lock) individual periods as well. Notice that all Fiscal Years (current and past) are listed in the right navigation. You can jump to the settings on a different year by clicking the year. In addition, you can see which years are closed. 8

9 Set Your Financial Structure This is the section of the application where you establish your levels, such as Funds and Departments. Set which levels are needed in your Account Structure by navigating to Settings on the Account Structure page: Financials > General Ledger > Modify > Account Structure > Settings (link above the grid). The Account Structure Settings window is where you select which levels you need. Most only need Funds and Departments or perhaps just Departments. You can rename the level to suit your purposes. For example, you may decide that Fund Groups represent different campuses at your church. This is also where you select your Account Length (for example, five digits). This does not include the length of the department number, fund number, or any other levels you use. If you wish to Use Sub Accounts, then there is a check box to turn that feature on. Each Fund has at least one Department whether you choose to show departments or not. The Balance Sheet account types (Asset, Liability, and Capital) are always limited to Department 0. Any other Departments or levels within a Fund only contain budget accounts (Income and/or Expense). Add new levels by clicking the Add icon or the button at the top of the grid. 9

10 How General Ledger in ShelbyNext Financials Differs from Shelby v.5 Account Groups for Headers and Totaling Shelby v.5 ShelbyNext Financials To create totals and subtotals in Shelby v.5, it is necessary to use a Line Type that is a Total Level 0 9. There is also a Line Type for Header. In ShelbyNext Financials the Account Group uses a range of Account Numbers to show which accounts it totals. Groups can be contained within other groups to provide subtotals. Adding a Heading is optional. Account Groups can be identified on the Chart of Accounts page by their indentions and connecting lines. This helps you easily see which Accounts belong to each Account Group. 10

11 Inactivate Accounts or Levels When an account or accounting level that already has activity posted to it becomes unnecessary, especially in the middle of a year, it is not as simple to handle in Shelby v.5. In ShelbyNext Financials, you can uncheck Active on this account. It shows on reports but does not allow any further activity unless Active is rechecked. Accounting Levels can be inactivated as well. Sub Accounts A great addition in Shelby Next Financials is the option to have sub accounts show detailed activity separated out within an Account. This gives you the ability to have budgets and actuals for each sub account, report on an account, and roll up to that account when you run a report and choose not to show sub accounts. 11

12 Additional Levels (more than just Funds and Departments) Fund Group (Main Campus) Operations Fund Designated Fund Balance Sheet Cost Center Operations Cost Center Ministries Cost Center Designated Activity Cost Center Balance Sheet Dept. Income Dept. Personnel Children's Dept. Youth Dept. Music Minstry Dept. Taking advantage of additional levels adds the ability to group funds for multi site organizations, or to group departments for organizations wanting to show activity by a broad type, and then group more specifically within the departments. In the example above, the Ministry departments are grouped separately from the Operations departments. Change Account Numbers Shelby v.5 ShelbyNext Financials Instead of using a utility to change numbers through all years or just the current year, in ShelbyNext Financials you can just type over the current number and that account still relates back to the same account in the prior year even though the account numbers are different. 12

13 Design and Manage Your Chart of Accounts Add Account Groups (Headings and Totals) Account Groups are the way totals and headings are created in your Chart of Accounts in ShelbyNext Financials. Enter the range of accounts you want to total and then name the group. (The word Total is automatically added to whatever you type on the Total line.) Choosing to Show Heading using the Group name above the accounts is optional. If you have similar structures in a set of departments, then you might choose to create a Group and then click the button to copy that same Group to multiple departments. You can then select the departments where you want this group in the popup window. For example, you might need an Account Group for Income and another for Expenses in several departments. 13

14 Add Accounts and Sub Accounts To add an Account, click the Add icon below the group where you want to add the account or click the button just above the grid of accounts. You then see the window where you can add the Account number, Name (of the Account), Account Type (the choices vary depending on whether you filtered to see Balance Sheet or Income and Expense), and Closing Account (if you are adding an Income or Expense account). You are able to add a note if there is something you wish to remember that is significant about this particular account. There are two drop down options to categorize each account by GAAP Restriction Type (whether donor restricted or not) or by Functional Expense Type for the 990 IRS report for Non Profits 1. 1 The reporting for these types is still in development as of

15 To add a Sub Account, be sure that you have turned on Sub Accounts for this Financial Company. Navigate to Financials > General Ledger > Modify > Account Structure > Settings (link to the right of the buttons just over the levels grid). There is a check box at the lower portion of this popup window for you to select Use Sub Accounts. There is now a field to the right of each account number to add the sub account, if needed. You have the option to include or omit sub accounts on many General Ledger reports. There is also now a button at the top of the Chart of Accounts grid to Add Sub Account. Each account now has an Add icon to the left that you can click to add a Sub Account to that Account. The entry page for a Sub Account is identical to the page to add an account, except that there is a field to input a number (up to four digits) after the Account # to identify the Sub Account. The Name of the account is copied into the Name field with a dash at the end so that you can add the name of the sub account. You can add budget amounts and actual activity to a Sub Account, and that rolls up into the Account if you uncheck to Show Sub Accounts when running certain reports. 15

16 Enter Budgets Entering the Budget Information for your Income and Expense accounts is achieved through an option under Modify. Be sure to look at Current Financial Settings to set your fiscal year to the year where you need to set the budget. Financials > General Ledger > Budget Information > Modify > Budget Information Once you come to the filter, select the Fund, the Department, and, if needed, the Account Range (based on the Account Group). You can also look at a Revision of the original budget. The budget accounts appear in a grid with a good bit of information already visible. You can hover to see a quick chart comparing this year s budget vs. actual compared to the prior year and in addition see the Account #, Name, and Account Type. You can also see how the budget is distributed, the total current budget, and whether this is a variable budget, without opening any other page. There is an icon to click to see a period breakdown of the budget history. 16

17 To change the Budget for any account, either double click on the account line or click the Edit icon to edit the budget settings. There are several different Budget Distribution Types. Annual Divide the Annual Amount evenly over the 12 periods. By Period Enter the budget manually for each period. By Prior Year % Enter a total for the year to be allocated based on the actuals for each period for the prior year. By Prior Budget % Enter a total for the year to be allocated based on the budget for each period for the prior year. By Defined % Enter total for the year and percentage to allocate for each period. 17

18 Add, Manage, and Post Journals Enter Manual Journals Occasionally you need to enter a correcting journal or a manual journal to move money from one account to a different account. Follow these steps to enter a manual journal: Financials > General Ledger > Enter (hover) > Manual Journal 1. From the General Ledger menu select Enter > Manual Journal. 2. Enter the Date of the transaction. (Hit the S key on your keyboard to search using the calendar or hit the T key on your keyboard to enter today s date.) 3. Choose the Period from the drop down list. 4. Choose the Journal Type from the drop down list. 5. Enter a Description for the journal. 6. You have the option to uncheck or leave checked the feature to Send Entry to Bank Account Management with whatever part of the transaction affects the Bank Account. 18

19 7. In the Details area of the journal you confirm the date and then tab to the levels (possibly Fund and Department, as you see in this sample database) to enter those numbers. If you do not know which Fund or Department you need, you can search by tapping the S key while in that field or by clicking the Search icon to the right of the field. 8. The search window allows you to search for what you need. The search filters for the levels are a bit simpler than the search filters for accounts. When searching for an account, you can filter by the Account # (entering one or two of the leading numbers), filter by the Account Type (Income, Asset, Expense, etc.), or filter by the Account Description or Name. 9. Select a Project to apply to one side of this transaction if you are tracking this activity with Projects. (Enter the number or hit S on the keyboard to search through the Projects you have already established.) 19

20 10. Enter the amount as either a Debit or Credit depending on the Account Type and the nature of the transaction. Whatever amount you enter as a Debit on the first line immediately shows as a Credit on the second line. If you have more than two lines, you can easily edit the entry on the second line as you complete the journal. 11. Click the Add icon to add additional lines. 12. Once you have completed the Journal, click the Apply button to save this Journal and begin another or click the Update button to save this Journal and move automatically to the Manage Unposted Journals page. Typically, you come to a search window first. NOTE: You can use the Plus key on your keyboard (if you have a ten key keypad) in the place of a tab. This allows you to navigate a bit more quickly through this page as you key in numbers. 20

21 Manage Unposted Journals Once you have updated your Journals either as a Manual Journal or as a posting from one of the sub ledgers such as Accounts Payable or Payroll, then you come to this page to Manage and Post these Unposted Journals. If you just completed entering and updating Manual Journals, you automatically come to this page. 1. First, the Filters appear so you can narrow down to the Journals you need to Manage or Post. If you want to see all current Journals, then leave all the filters set to Not Filtered or Show All. 2. Next, select the Journals that you wish to Post. 3. Once you have selected even one Journal, then the three action buttons are enabled. You can now: a. Run a Journal Edit Report to confirm that your Journals are correct and balanced. b. Change Year to change the Fiscal Year for the selected Journals. c. Post Journals The green buttons are always the path to saving Journals or Transactions into history (in this case General Ledger history). The path from here to finalizing the Journal is always accomplished by clicking the green buttons. 21

22 Post Journals 4. As you continue with your process, click the button to begin saving these Journals into history. 5. You now come to the Posting List of Journals report. If you have selected more than one period, the report naturally does a page break for each financial period. You can now print this report by clicking on the Print icon, or you can save this report as a PDF file and export that to a local machine or network. 6. Click the last green button in this process, the button, to send these Journals permanently into General Ledger history. (There is no undo of this step, but you are always able to do a reverse Journal entry, if needed.) 7. You are returned to the Unposted Journals page, and these Journals are no longer there as they have been posted into history. 22

23 View Posted Journals Once a Journal posts to General Ledger history, it can no longer be edited or even deleted. Once a Journal posts, you can... View the Journal Copy the Journal Reverse the Journal Reverse and Copy the Journal Change any Project Codes in that Journal View Posted Journals 1. From the General Ledger menu select View > Posted Journals. 2. You initially come to a Filter box with many filters with which to narrow your search for Posted Journals. Enter a Fund, Department, and Account number to see the activity for a single Account over the 12 periods in detail. 23

24 To Reverse or Copy a Journal (or both) If you have posted a Journal that causes an issue or needs to be copied to use again, follow the steps on the prior page to navigate to the exact Journal you need to address. Once you have opened up the Expand > icon, which flips the symbol over (V) so that it is now pointing downward, you are now in the actual Journal, and these three buttons become available. Use this Journal to create a reversing entry, a copy of the existing Journal, or two Journals that are a reversal and copy of the original journal. To complete the copy or reversal, you need to continue on to the Manage Unposted Journals page to Finalize this process. These are Manual Journals, so you can make any changes needed either to the Reversal or to the Copy of the original Journal. The Journal created by using these buttons has a note referencing the original Journal Type and Journal Number. To Add, Change, or Remove a Project on a Posted Journal Navigate to the Journal in the View > Posted Journals page and drill down to the actual Journal. Find the line where you wish to add, remove, or change the Project, and click the drop down list. Whichever choice you click now is the Project for this line in this Journal. (No need to post, save, or confirm.) 24

25 General Ledger Plus This is an additional license allowing the user to roll up multiple companies into a Master Company for the sake of reporting. All activity is done in normal companies, but every account is mapped to an account in the Master Company. First, there will be a Master Company. Each account in all the Companies with the same Fiscal Year will link to this Master Company. This allows you to run reports from the Master Company (this will show the activity of the subcompanies grouped into the accounts to which they are mapped). 25

26 However, you can also show reports with the Companies, Accounts, and Levels (Funds and Departments) showing one after the other. When running General Ledger reports, you can choose multiple companies and levels within those companies to run consecutively (page break between each company and each fund). You can create selections, then save them for future use. You can manipulate the totals in the Master Company by the way you combine and group accounts (and levels) from the companies that report up to the Master Company. For example, Company 1 could all total into Fund 1 (or Fund Group 1) in the Master Company or, if your subcompanies are very similar, you might overlay all the activity in one set of funds and departments that matches the layout of all the sub companies. 26

27 Q&A Class Discussion 27

28 Bill Ballou Shelby Training Manager Bill Ballou has been a part of the Shelby training team for over 18 years and trains on both v.5 and ShelbyNext. He greatly enjoys working with the gifted trainers on his team. Bill brings a vitality and life to training software and uses humor to help customers feel at ease with new ideas. He has helped dozens of churches find solutions to tracking financial and gifts information so they can do ministry more effectively. While Bill is known to geek out over finding a new trick in Excel or in MS Reporting Services, his real excitement comes at that moment in training when he can see that a trainee has made a key connection and has that "ah ha" moment light in the eyes. Bill worked for almost twenty years on staff at various churches, so he has an appreciation for the questions and challenges of many of our users. Training is a passion for Bill, and he loves that moment when he can see knowledge and ideas transfer to another person.