Prophet 21 Faspac Maintaining and Operating Prologic GL3000
This class is designed for New users who are required to perform daily and monthly operations of General Ledger
Overview: GL3000 Double entry General Ledger system Tracking/reporting by department or division within the same company Profit Centers Financial Entities Transaction date based system Print statements for prior months until the year is closed Post to the next year without closing out the current GL year
Objectives Post Journal Entries Print financial reports View transactions and reports Close the fiscal year
This course will NOT cover Basic accounting principles Setup of GL3000
FASPAC Reports Flow to GL3000 FASPAC A/R A/R Registers A/P A/P Registers FASPAC Interface File File GL3000 Transaction File File GL3000 Permanent Ledger
GL 3000 Main Menu
Change Current Accounting Period
Common Menu Options All maintenance programs display the following options
GL Account Set Up
General Journal Transaction Processing Interface from other packages option 14 from the GL3000 (GLP) main menu Manually entered option 5 from the GL3000 (GLP) main menu Recurring Journal Trx Processing option 6 from the GL3000 (GLP) main menu These entries may be permanent or variable
Interface from Other Packages Given choice of two options Option 1 prints general ledger interface file from Faspac these transactions are the ones that will be transferred if they meet the cutoff period date you designate
Interface from Other Packages Option 2 moves transactions from Faspac to GL3000 Prompted for info
Post Journal Entries Interfacing entries from Faspac Interface file holds debit and credit transactions that will be used in GL 3000 Finalized AP and AR registers Manual journal entries Recurring journal entries GL adjusting entries
Why won t my general journal transactions post? 1. They have an incorrect date. 2. They were not on the edit list. 3. Journal transactions are out of balance. 4. I m not signed into the correct company.
Printing from GL 3000 All print screen will display the following:
Printing Trial Balance Displays beginning and ending balance total debits and total credits net change for each account Print for one account all accounts any dates within the fiscal year Select either by profit center or by a single financial entity You cannot select both!
Print Financial Statements Option 13 on the GL3000 (GLP) main menu
Select and Print Financial Statements Two options are available STATEMENT SPECIFICATIONS MAINTENANCE PRINT FINANCIAL STATEMENTS
After adding and posting a journal entry, the financial statement does not reflect the change. Why? 1. Date problem 2. Invalid GL account used 3. Did not recalculate the financial statement prior to the reprint
Monthly/Weekly Procedure Review From the GLP main menu Step 1: option 14 interface from other packages interface AR and AP Step 2: option 5 - general journal processing Print the edit list (Optional) Post the transactions Step 3: option 7 - print a trial balance (Optional) Step 4: option 13 - print statements Step 5: option 1 - change current period
Year End Close Checklist 1. Account periods show the year you are about to close - cannot include periods in the new year. 2. If using the calendar year, Period 13 should be blank. 3. Print a copy of your financial statements. 4. Identify what the retained earnings one-sided entry will be. 5. Backup the system PRIOR to closing the year!
Accessing the Year End Menu From the GL 3000 main menu
Year End Option Screen
Programs Run After Year End Close Manually enter the one sided journal entry to close the net income (loss) Credit retained earnings (or capital) account with the Net Income amount. OR Debit retained earnings (or capital) account with the Net Loss amount.
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