Accounting Overview Presented by: Marisa Krieg
Agenda: Disclaimer Basic Concepts Common Functions Time Savers & Helpful Links Q&A
Disclaimer
Disclaimer The intent of today s presentation is solely to advise you on the functionality of the software. I am not a CPA, nor am I able to provide accounting advice or recommendations. Please defer to your accountant or CPA for internal business processes and advice.
Basic Concepts
Orchestrated Continuous Cycle Purchase ingredients Receive money Produce Sell finished goods
Basic Concepts Template Chart of Accounts Backbone to your system Pre-configured Real Time Accounting & Automated Posting Purchasing, Production, Sales, Banking, etc GL Determinations Inventory and non-inventory items Item Groups Raw Materials, Packaging, Finished Goods, WIP Moving Average Not Actual, FIFO, or Standard
Chart of Accounts
Chart of Accounts Basics Layout and Structure of CoA Levels Levels - 1 through 4 Segments Corp, Brewery/Distillery, Retail 1, Retail 2 Editing, Adding and Deleting Chart of Accounts Add and Edit Edit Chart of Accounts Delete and Move
Real-time Accounting
Real-time Accounting Real-time Automated Posting for every step of the way Purchasing AP Account Inventory Accounts Production Inventory Accounts WIP and Semi-Finished Goods Accounts Sales Inventory Accounts AR Account
GL Determinations
GL Determinations Pre-configured Driving force behind automated posting Item Level Each Item can be set to post to specific accounts Item Group Level Pre-determined Item Groups drive posting
Item Groups
Item Groups Pre-configured Orchestrated comes with pre-defined Item Groups Majority of Inventory Items are based on Item Group Raw Hops Raw Malt Raw Adjuncts Packaging Merchandise WIP Item Groups Wort, Green Beer, Aging, Bright Beer Non-inventory Items & Overhead Set at Item Level based on internal business processes Adding and Editing Easily add new and edit existing Groups
Moving Average
Moving Average What is Moving Average? An accounting method in which a real-time average cost is maintained Why Moving Average? Manufacturing industry Prevent peaks and valleys What does Moving Average look like? Weighted costing based on inventory on hand Batch Moving Average Cost of Cascade Hops Lbs of Hops Purchased Cost per Lb Total Cost per Batch 4567 230 $ 0.50 $ 115.00 3214 500 $ 0.75 $ 375.00 9986 700 $ 0.80 $ 560.00 1430 $ 1,050.00 Total Cost $ 1,050.00 / Lbs on Hand 1430 = Cost per Lb $ 0.73
Basic Concepts In Review Template Chart of Accounts Backbone to your system Pre-configured Real Time Accounting & Automated Posting Purchasing, Production, Sales, Banking, etc GL Determinations Inventory and non-inventory items Transaction types Item Groups Raw Materials, Packaging, Finished Goods, WIP Moving Average Not Actual, FIFO, or Standard
Common Functions
Common Functions FINANCIALS Journal Entries Immediately post or save as Voucher Time Savers Posting Templates (Journal Entry) Recurring Postings (Journal Entry) Recurring Transactions (Documents: Orders, Invoices, etc) Month-end & Year-end Close Step-by-step processes support.orchestrated.com
Common Functions BANKING Payments Incoming and Outgoing Check Writing Centralized accounting Print functionality Payment Wizard Mass payments made and received Deposits Ensuring your bank reconciliation will match Orchestrated Reconciliation Bank reconciliations Business Partner reconciliations support.orchestrated.com
Best Practices & Helpful Links
Best Practices & Time Savers Accounting Best Practices Report Schedule Success Factors Bank Reconciliations Printing Checks Check Register Receiving Checks Deposit Functionality Time Savers Payments during Invoicing Payment Wizard Reports Reports by Persona Data Integrity SAP vs Orchestra Reports Quick Reports support.orchestrated.com
Helpful Links Accounting Training Videos http://support.orchestratedbeer.com/hc/en-us/articles/212356028-financials Journal Transaction Report http://support.orchestratedbeer.com/hc/en-us/articles/207123527-journal-transaction-report Month-End Close http://support.orchestratedbeer.com/hc/en-us/articles/206414428-month-end-close-period-end- Close Year-End Close http://support.orchestratedbeer.com/hc/en-us/articles/215230348-year-end-close Reports by Persona http://support.orchestratedbeer.com/hc/en-us/articles/219972028-reports-by-persona Data Integrity http://support.orchestratedbeer.com/hc/en-us/articles/221862748-customer-data-integrity- Check-Recommendations
Troubleshooting
Troubleshooting Accounting Issues Where will/did this document post? Right-click > Journal Entry Preview Right-click > Journal Entry What is this Business Partner balance comprised of? BP Balance Drill-down BP Reconciliation Why does this Item s value look strange? Right-click > Inventory Audit Report Why is there a balance in this GL Account? COA Drill-down What caused this huge Production Variance? Production Order History and Drill-down
When in doubt, Right-Click or Drill Down!
In Review: Disclaimer Basic Concepts Common Functions Time Savers & Helpful Links Q&A
Thank You! http://forums.orchestrated.com