The ACCPICK General Ledger

INCOME STATEMENT

  • The sales section of the Income Statement is “created” from the DEPTFILE.DBF
  • The sales values come from the STRAN.dbf made up from type IN; CN; CS; CR
  • Must be set up as “credit” accounts
  • Should tie up to the Department Sales Report

COST OF SALES

  • Opening Stock generally ties up to the Closing Stock of the previous month, which should also tie up to the Stock Valuation at the end of the previous month
  • Opening Stock should be set up as a Credit account
  • Purchases is made up of all stock purchases less stock returns and corresponds to the “Stock Received / Returned” report
  • Purchases should be set up as a Debit account
  • Cartage, Packaging, Transportation and other items that affect cost of sales come from your expense categories in both Cash Book and Creditors, as does Purchases Consumables
  • Closing Stock should match your Stock Valuation for the month you are in
  • Closing Stock has a “debit” balance

OTHER INCOME

  • Other Income is made up of the income over and above normal day-to-day sales
  • These include Rebates, interest received, profit on sale of assets etc
  • These accounts usually get information from the Cash Book Income categories and sometimes from the Creditors Expense Categories
  • These accounts have a “credit” balance

EXPENSES

  • Expenses are taken from your Cash Book and Creditors Expense Categories
  • They have a “debit” balance

INCOME STATEMENT (format 1)

  • Income Statement Layout based on Format 1 which is Total Sales less Total Cost of sales
  • The Taxation figure is usually left to the end of the year and calculated by the accountant according to their yearly taxation
  • The Net Profit / Loss after Tax must be the last line of your income statement. This has to have the “RETINC” status in report format setup as this figure is carried across to the “Retained Income Current” account in the Balance Sheet
  • At year end after final month end procedure the Income Statement should always be zero. Only Balance sheet items carry forward into the new year

INCOME STATEMENT (format 2)

  • Format 2 affects the Sales and Cost of Sales layout on the Income Statement
  • The Sales Value i.e. 11 Shocks, will tie up to the Department Sales value for each department
  • The COS (Cost of Sales) figure is not made up of opening stock + purchases – closing stock, but rather from the Cost column of the STRAN for actual sales (IN, CN, CS, CR)
  • Because the is no closing stock figure in format 2, stock adjustments need to be taken into account, so this is taken from the stock adjustments report in stock transactions, or technically speaking from the STRAN for all type “PC” transactions
  • Format 1 and Format 2 should yield the same Net Profit figure, but often its not maintained properly and format 2 is much harder to support and analyse.

The Balance Sheet

BALANCESHEET ASSETS NON-CURRENT ASSETS

  • The Assets section of the Balance Sheet consists mainly of Debit Accounts
  • Non-Current Assets are usually made up of fixed assets i.e. Furniture and Fittings, Motor Vehicles etc.
  • The Accumulated depreciation for each fixed asset is a Credit account which added to the relevant fixed asset gives you the asset value of each component.
  • Non-Current assets can also include prepayments, and fixed deposits

CURRENT ASSETS

  • Current Assets include Debtors, Stock and Bank accounts
  • They all have debit balances (except unfavourable bank accounts )
  • Format 1 Balance Sheet differs from format 2 ONLY because of the stock accounts.
  • Accounts to keep an eye on besides the normal control accounts include your Petty Cash, Rounding Sundry Debtors, Overs and Unders and the dreaded Cash Control account

EQUITY & LIABILITIES

  • Equity Accounts comprise of Members Contribution and Retained Income
  • They are always set up as Credit Accounts
  • The Retained Income Previous Years account is made up of all previous years Income / Loss. This is an accumulation of prior years Net Profit/Loss after taxation (last figure on the I/Statement) for previous years
  • The Retained Income Current account is a static Account. This means that when looking at the Account in the ledger account option it should ALWAYS have a zero balance. However when you see this account on the Balance sheet it has a value!
  • This value comes from the last line of the Income Statement which must be your “Net Profit After Taxation”
  • The way it knows to pull this account across is the RETINC command on the report format layout
  • Liabilities are split up in Non-Current and Current Liabilities
  • Non-Current Liabilities include HP’s, Loans, Members Loan Accounts, Lease Equipment
  • Current Liabilities are made up of creditors, Vat Account, Company Tax, Provisions etc
  • Liabilities are always set up as Credit Accounts
  • Ones to keep an eye on would be the Creditors Payment Control and Suspense Accounts – Auditors don’t like these

Balance Sheet Summary

BALANCESHEET ASSETS

The GL DBF Files – an In-depth Look

The GL contains the following GL*.DBF files

  • GLMAST.DBF
  • GLPARAM.DBF
  • GLINTER.DBF
  • GLREP.DBF
  • GLTRAN.DBF
  • GLBATCH.DBF
  • GLINTERT.DBF
  • GLSPREAD.DBF
  • GLSTJNL.DBF

Lets look at each of these in detail

  • ACCNO: is the GL account number populated from Sales Departments, Creditors Expenses, Cash book Income and Expenses. They are initially created when you run glmast.exe. There can be NO duplicates
  • NAME: is the name initially picked up from running glmast.exe, but these can be changed and manipulated through GL Maintenance
  • TYPE: I = Income Statement; B = Balance Sheet
  • DRORCR: Defines whether they are set up as Debit or Credit accounts. Lets take a minute to understand this. These must NEVER be changed during a year.
  • REPLINE: indicates what line on the report format you will find this account – useful for finding accounts in looooong GL reports
  • BALBFWD: This is the balance brought forward from the previous month for each account. First month of the year only Balance Sheet accounts have a BALBFWD
  • PERIOD1: (up to 12) this is the transaction total for each month. Its calendar driven, so 1 is always Jan etc. This is the net effect of transactions during that month (it does not take into account the BALBFWD)
  • PERIOD13: This is the year-to-date value for each account as a net effect excluding the BALBFWD
  • BUDGET1: (up to 12) If you have entered budget figures for your Income Statement, you will find those values here for each month
  • LASTYEAR1: (up to 12) Holds the figures for the MTD values for the prior year, so that you can draw comparative reports
  • STARTPER: indicates the month number of the 1st month of the financial year
  • BATCHNO: Place-keeper for the next batch number
  • CURPERIOD: The month that the GL is sitting in. This is where your “System Status” comes from
  • ADJUSTED:
  • CURRENTYR: The financial year you are in
  • SOURCEDRI: Used in Windows & Dos versions to indicate which drive the data resides on
  • SOURCEDIR: Working folder for the NORMAL data not the GL
  • INTFORMAT: Either 1 / 2
  • This glinter.dbf holds all the integration settings. This is vital for correct integration.
  • SOURCE: Indicates where the source entry comes from AC; AA & AC from Debtors Integration Settings; ST for Stock; AP for Creditors; CI & CE from Cash Book
  • DRACCNO: The GL Account number that will be Debited
  • CRACCNO: The GL Account number that will be Credited
  • NARATION: The journal entry naration
  • Holds the Layout of your report formats
  • TYPE: Indicates Balance Sheet / Income Statement
  • FIELDTYPE: The type of entry on the GL reports. P = Page Header; C=Column Header; S=Sum Total; A=Addition Total
  • LINE: Line number of the report (either on the I/Stat or B/Sheet)
  • NAME: Given name at setup
  • START: For sums and adds it indicates the line number the addition must start
  • ENDCALC: For sums and ads it indicates the line number the addition must end
  • This is your record of UPDATED transactions that have already affected the GLMAST
  • ACCNO: The GL Account number affected by the transaction
  • BATCHNO: The journal number. Usually the integration batch is batch no.1
  • DATE: Indicates the date the transaction is effected for. I.E. You manually enter this date when doing integration / jnl batches
  • TIME: The month you are in
  • TYPE: Whether this transaction Debited / Credited the account
  • SOURCE: has a link to the source in the glinter
  • STATION: The station number that did the transaction
  • REFERENCE: For integration it shows the source of the Glinter, and then the source folder, but for manual journals it is the reference you enter i.e. auditors jnl no.
  • DETAILS: The details from the integration settings, or on manual journals the detail that you enter
  • AMOUNT: The amount of this entry
  • The GLBATCH is the holding bay for all journals posted or not
  • ACCNO: GL Account number
  • CAPTUREDATE: The date the journal was physically captured. It cannot be manipulated by the user
  • DATE: The date entered by the user for the batch. Usually these are the last day of the month
  • DRORCR: Whether the entry will have a debit or credit effect
  • SOURCE: Same as source from glinter.dbf
  • STATION: Which station captured it
  • REFERENCE: For integration it shows the source of the Glinter, and then the source folder, but for manual journals it is the reference you enter i.e. auditors jnl no.
  • DETAILS: The details from the integration settings, or on manual journals the detail that you enter
  • AMOUNT: The amount of this entry
  • POSTDATE: The actual date of updating the batch. If blank the batch is still awaiting posting
  • POSTIME: Time of the batch update. If blank the batch is still awaiting posting
  • PERIOD: The month you are in
  • The evidence file…
  • DATASOURCE: Which folder and which month they integrated from
  • INTERDATE: The actual date they integrated
  • STATION: Who dunnit!

From here you can see whether the user integrated twice, missed a month and now doesn’t balance, integrated from the wrong place etc.

  • GLSTJNL holds your standing journals. Suggest these only to accounting literate users
  • ACCNO: GL Account number
  • DETAILS: As entered when setting up the jnl
  • DRORCR: Whether the entry will DT or CT the account
  • AMOUNT: The journal amount
  • FREQUENCY: How many times this entry must take effect this month. i.e. 0 means its already updated
  • STPERIOD: which month it must start updating from
  • TIMES: The amount of months you want to repeat this entry
  • TIMESBAL: The amount of times left to repeat this entry
  • NEXTPERIOD:
  • DESCRIPTOR: Your standing journal description
  • JOURNALNO: Counter for the number of standing journal entries
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