Abc accounting 11. 0 Reference Guide

Date (L)

This will automatically default to the last date entered. You can enter the date in several easy ways:

- By using either slashes or hyphens to separate the year, date, and month (10/12/92 or 10-12-92).

- By not using any dividers. (110292 for 11-2-92).

- If you do not enter a year, it will default to the current year. (224 becomes 2-24-97 if the current year is 97.)

- If you only enter a day, it will default to the current year and month. (14 becomes 12-14-97 if the current month and year are 12/97).

When you enter new data, the computer is constantly comparing the date entered with the period of current entry. If you enter a date previous to the current period, you will be notified that you have entered the wrong date. If you enter a date for a later period, you will be asked if you desire to enter a new period. For example, when using monthly periods, if the current month is October, entering any month prior to October will be rejected. If you enter any date later than October, you will be asked whether or not you are entering a new period. Please note that if you choose yes, the computer will mark that check number as the first entry in a new period. You will

not be able to enter any check numbers higher than that check number into the prior period. If the first check number in November is 165, you will not be allowed to enter any checks higher than number 164 for October or lower than 165 for November. If you skip a period, you will not be able to enter any checks for that period. For example, if check number 164 is dated March 31 and check number 165 is inadvertently dated May 1 instead of April 1, you will not be able to enter any checks for April until you delete check number 165 and enter the date correctly.

Vendor Code & Name (L)

The Vendor Code and Name fields function as one entry. Each vendor is assigned a code by which you can call up the vendor without typing his entire name. For example, if you assigned PADOT for the Pennsylvania Department of Transportation; by simply entering PADOT (or often even a part of the code such as PAD), you can recall the entire name onto the record without typing it. If you pull up the wrong vendor, pressing Alt+N will bring up the next vendor in alphabetic order and Alt+P will bring up the prior vendor.

The vendors should be set up in the Vendor screen prior to ledger entry. If you use a consistent pattern for coding, it will be easier to recall the code. For example, the first three letters of both names followed by a 0 (SMIJOH0 for John Smith) is a practical approach.

If a check is void, you can type in Void as the vendor code and save it without entering in any more data.

Note that if you enter all deposits under a hypothetical vendor named Deposit, the trial balance will list all deposits in date order. For example, you could assign 1 as the vendor code for the Deposit vendor.

Amount (L)

Enter the amount of the check or the deposit. The payment is entered as a debit (positive number), and a deposit is entered as a credit (negative number). Note that deposits (negative numbers) can only be entered when a decimal number (.1 to .8) is entered into the check number field.

Account # (L)

Enter the first account to which the check is being charged (debited) or the first account to which the deposit is being credited. The account name will be displayed automatically from the G/L account. When you press Enter, the cursor will move to the Amount field where you will enter the amount to be debited or credited to the account. Upon finishing entering the information for the first account, the cursor will return to the Acct # field again to begin on another account. You may distribute the check or deposit amount to 150 different G/L accounts.

If you enter an unassigned account number, a Lookup screen appears showing the account numbers closest to what you entered. Use the Up or Down arrows to choose an existing number or press Alt+A to set up a new number in the G/L Accounts (G) screen.

Each time you enter a G/L# that has not been assigned to a vendor, you will be given the opportunity to instruct the computer to list that account number every time that vendor is chosen. The following message will appear on the screen: "Act.# not on Vendor screen. Place Cursor on on line. Alt+A then Adds it." Pressing Alt+A adds the account # to the Vendor file. Every time this vendor is chosen, the account # will be displayed. Use this option for any accounts to which you will be regularly distributing payments from this vendor. You can change these account numbers by editing the G/L#s field on the Vendor (V) screen.

If you enter a vendor who has a number of accounts listed automatically, Shift+Up arrow will take you to the first account and Shift+Down arrow takes you to the next space available to enter an account #.

Amount (L)

Enter the amount to be applied to the G/L account # on this line. Enter payment amounts as a debit (positive figure) and deposit amounts as a credit (negative figure).

Pressing the F9 key, when the cursor is in the Amount field enters the amount in the Distribution field in the Amount field and saves the record. Pressing Alt+T on this field does the same thing, plus it prints a check.

Job # + Remark (L)

Use this field when you want to keep a permanent description of a transaction. For example, when you acquire or dispose of an asset, enter a remark here to identify the asset.

Also use it when entering non-check transactions such as bank charges and credits. Enter the date which the bank uses for such transactions in the Remark field so that it is easier to balance the checkbook.

The cursor will stop here if the account number entered on the line has a Y in the Remark field on the General Ledger Accounts (G) screen. You can also access it by pressing Up arrow after the cursor has gone past the Remark field.

You may also use this field to enter a Job # which references the Job (J) screen. You may press F6 for lookup to select the job from a list. After you enter or select a Job #, the computer attaches a + to identify it as a Job# rather than a Remark. If you want both a Job # and a Remark, enter the Job # followed by a + and the Remark.

The Job #, like the Remark, is used to store information on the transaction. It does not affect job reports except in some custom applications.

Vendor Name (L)

If the code you entered in the Vendor Code field did not have a name entered for it on the Vendor screen, the cursor stops in the Vendor Name field. You may enter something here but you don't have to.

Check # (L)

Once you enter the first check number, the computer will automatically update the check numbers. If a manually entered number is not in sequential order, the user will be asked to verify the fact that some checks were missed. Manually entering a number lower than the highest number entered brings up that entry for editing.

Deposit numbers are entered by pressing a decimal point. The computer will then take the last check number entered and annex one digit to the end of the check number to identify the deposit number. That digit will be a number between 1 and 8. 9 is not available because it is reserved for computer use. For example, the first deposit entered after check number 1095 will be 1095.1. If there are two deposits entered after check 1095, the second one will be 1095.2. These deposit numbers can also be entered manually by entering .1, .2 etc., instead of entering a period (.).

WARNING! Deposits should be in the same accounting period as the immediately preceding check. For example, if check number 1095 was written in October and there are 12 periods in your accounting year, deposits 1095.1, 1095.2 etc. should also be in October.

For help on entering deposits manually, press the Page Down key or Shift+F1, Q for Questions and X.

Manual Deposit Entry (L)

When entering a deposit on the Ledger (L) screen, before any checks have been entered for that period, the computer will not allow you to attach a .1 entry on to a check that has been written in the previous period. To work around this, enter the next available check number followed by .1. For example, if the next check number is 1234, enter: 1234.1. When you save your deposit entry, the computer will set the check number to 1235. You will need to make a mental note to manually enter the Starting Check # as 1234 the next time you print checks from the Check Writing (/) screen. If you enter checks from the ledger (L) or (-) screens, you will need to remember to manually enter the check # 1234 the next time you enter a check. Otherwise, the computer will altogether skip this check number, and the numbers on your checks will not match the computer check numbers. Be sure you REMEMBER what you did!

Bank Balance Adjustment (L)

When the bank balance is incorrect, run Report # 4-14 with from the beginning of the fiscal year to the current period. Check the prior total at the end of the report and make sure it is 0. If it is not 0, the General Ledger needs to be closed out for the previous year. The total debits and credits must be equal. If they are not equal, make a backup, and run Report # 8-28, entering the check # for the beginning of the year. If you are using multiple ledgers, you will need to run Report # 8-28 for each ledger. This report makes sure the closeout entries are posted properly. Run another trial balance. If the debits and credits still are not equal, from the G screen, press Alt R and enter the start of the year date as 10 digits (01/01/1998). This will repost the ledgers to their accounts. When Report # 4-14 shows that the debits & credits are equal, an adjustment to the bank account may be made as follows:

To make an adjustment to the bank balance, press F10 and then press the minus sign (-) for G/L Ledger selection.

Choose 2 for Adjustment Entries. Use ADJ as the vendor name. On the line just below, you may put a comment explaining your entry. Do not enter anything as amount.

Below, enter the bank account #. (ABC's standard # is 6.) Enter a deposit amount as a positive figure and a debit amount as a negative figure.

On the second line enter the Proprietor's Capital G/L #. (ABC's standard # is 401.) On this line enter just the opposite of the line above it. If the amount was a negative, enter it here as a positive and vice versa.

To see your new bank balance, Press F10, press -, and type the correct ledger number. The bank balance is displayed in the top right-hand corner.

Lost Check - How to Handle

If the lost check was issued in the current period, simply void it. To do this, go to the Ledger (L) screen and enter the check number. Press Enter to load the check. Press Alt+V to Void the check. Press Y for Yes.

If the check was issued in a previous period, make a reversing entry in your General Ledger in the current month. To do this, go to the Ledger (L) screen. Enter a period (.) in the Check # field. Press Alt+D. Type the lost check # followed by an R and press Enter. The computer makes a reversal entry, offsetting the lost check.

On the Checkbook Balancing (() screen, both of these entries should be marked returned by pressing Alt+T. This will remove them from your outstanding check list.

If the lost check is to be replaced, write another check from the Ledger (L) screen.

GENERAL LEDGER SETUP - Entering Account Balances (*)

Obtain setup balances from your accountant. Enter these under F10 - 2, Adjustment Entries. Check # 1 will automatically be selected unless it was used already. Enter the date of the setup balances, usually the end of a month. Enter 'SETUP BALANCES' in the Vendor Code & Name field. Skip the check amount field. Enter each account# and amount from the setup balances provided by your accountant. Enter credits with a minus sign. When all account #s and amounts are entered, the Distribution field should be zero. If it is not zero, enter the amount that is in the Distribution field into the owner's equity account. (ABC's standard equity account is 401). Press F9 to save the entry.

The next step is to enter any transactions that took place after the setup balances were calculated that are not in the computer. This would include any checks that were not printed by the computer. Enter these into the check ledger, usually F10, - (dash), 3. Enter the check #, date, vendor code and amount. Enter the disbursement (account# and amount). Remember to use F9 to save each entry. Ledger entries MUST be in order by months. For example, Check # 100 must not be in May if Check # 99 has a June date.

Make entries for any other transactions, such as bank charges, interest, payments automatically deducted from your account, etc.

Enter all deposits made to your bank account since the date of the setup balances.

Enter an adjustment entry for the sales for each month since the date of the setup balances.

See page 209 for General Ledger - How to Add Account Numbers (G)

4 - General Ledger Reports
See page 99 for Report Selection Screen

Chart of Accounts - 2 Column (Report # 4-1)

This prints out the chart of accounts in 2 columns. Since this report has wider columns than the 3 and 5 column reports, it prints longer titles without cutting off the last part of the title. Letters identifying account headings are also displayed. You may print out only a part of the chart of accounts by choosing the account number where you want to start and where you want to stop.

If you choose S to Sort by Alternate G/L #s, the computer will list the G/L Accounts that have Alternate G/L #s after the ones that do not.

Chart of Accounts - 3 Column (Report # 4-2)

This prints out a chart of accounts in 3 columns.

Since this report has narrower columns than the 2-column report, it prints shorter titles. This can cut off the last part of the title at times.

You may print out only a part of the chart of accounts by choosing the account number where you want to start and where you want to stop.

If you choose S to Sort by Alternate G/L #s, the computer will list the G/L Accounts that have Alternate G/L #s after the ones that do not.

Chart of Accounts - 5 Column (Report # 4-3)

This prints out the chart of accounts in 5 columns and uses compressed print. Some of the accounts names may be shortened in order to fit.

You may print out only a part of the chart of accounts by choosing the account number where you want to start and where you want to stop.

If you choose S to Sort by Alternate G/L #s, the computer will list the G/L Accounts that have Alternate G/L #s after the ones that do not.

Vendor List - 2 Column (Report # 4-5)

This lists each vendor on file with their codes. The vendors are listed in the alphabetic order of the codes.

Vendor List - 3 Column (Report # 4-6)

This is the same as Report # 4-5 except that it has three columns. It lists each vendor name with his code. The vendors are listed in alphabetical order by their codes.

Vendor 1099 List (Report # 4-7)

This lists all the 1099s which have been generated by report number 11 if the 1099 option has been selected with that report.

For more information about 1099s, press .

You can also access this information from the (G) screen by pressing F10, G, Shift+F1, selecting Questions, and then option N.

See page 199 for 1099s - Generating (G)

See page 201 for The ABC Accounting General Ledger is capable of taking the

See page 201 for For example, if Equipment Rentals is account # 874,

See page 201 for ENTRIES REQUIRED ON THE VENDOR (V) SCREEN - The ABC

See page 201 for 1099s - Preparing and Printing the Forms (G)

Vendor 1099 Forms (Report # 4-8)

This prints out the actual 1099 forms if they have already been generated using Report # 4-11 VENDOR CHECK DETAIL. Choose I for Interest or M for Miscellaneous depending on which type of 1099 you wish to print. Choose 1 if you have continuous forms, or press Enter if the 1099s are single sheets. (Three 1099s on one sheet.)

For more information about 1099s, press Page 199.

You can also access this information from the G screen by pressing F10, G, Shift+F1, selecting Questions, and then option N.

See page 199 for 1099s - Generating (G)

See page 201 for The ABC Accounting General Ledger is capable of taking the

See page 201 for For example, if Equipment Rentals is account # 874,

See page 201 for ENTRIES REQUIRED ON THE VENDOR (V) SCREEN - The ABC

See page 201 for 1099s - Preparing and Printing the Forms (G)

Account Labels (Report # 4-9)

This prints out a label for each General Ledger account.

Vendor Check Summary (Report # 4-10)

This prints out all the vendors on file and lists all the checks which were written to that vendor in date order.

Vendor Check Detail (Report # 4-11)

This prints out all the vendors on file and list all the checks which were written to that vendor in date order. This report also lists the account(s) to which the individual trans- actions were charged and includes the remarks entered for each transaction.

If you choose Y to generate the 1099 file, the computer also generates a list of vendors who may need 1099s sent to them. To view this list, run Report # 4-7, VENDOR 1099 LIST.

For more information about 1099s, press Page 199.

You can also access this information from the (G) screen by pressing F10, G, Shift+F1, selecting Questions, and then option N.

See page 199 for 1099s - Generating (G)

See page 201 for The ABC Accounting General Ledger is capable of taking the

See page 201 for For example, if Equipment Rentals is account # 874,

See page 201 for ENTRIES REQUIRED ON THE VENDOR (V) SCREEN - The ABC

See page 201 for 1099s - Preparing and Printing the Forms (G)

Ledger Summary (Report # 4-12)

This lists all the transactions recorded in numeric order. It includes a running ledger total giving the total change in cash for the present period. It also prints total debits, credits, & discounts. Specify the ledger number for which you want to print a summary.

The option B)alance allows printing the balance instead of the total. The B option will not work with multiple ledgers using the same account or with amounts entered directly to the bank account. When ckecks are returned using the Alt+S on the L screen, only outstanding checks for a particular month may be printed.

When the bank balance on the Ledger (L) screen does not equal the ending balance using the B option, the amounts entered directly to the GL Bank account can be printed using Report # 4-15, TRIAL BALANCE FROM DETAIL.

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