Setting up the Financial Statements in Accolent ERP requires several steps. First, map out the general structure of the financial statements using three levels of categorization: Account Type (e.g., Asset), Account Sub-Type (e.g., Current Assets) and Account Group (e.g., Cash). Then review the printed format of the financial statements that were set up and revise […]
Category: Manage General Ledger
General Ledger Postings – Voucher Adjustments Journal
Accolent ERP posts transactions to the General Ledger (GL) through the following Accounting Journals: Sales Journal (SJ), Payment Receipts Journal Journal (PR), PO Receipts Journal (PO), Accounts Payable Journal (AP), Voucher Adjustments Journal (VA), Cash Disbursements Journal (CD) and the General Journal (GJ). The Accounting Journals are automatically posted to the GL immediately. If the […]
Using a Manual Invoice to Correct Sales Tax
Accolent ERP allows for the use of Manual Invoices to create Credit Memos in situations where there are no inventory items on the original invoice being returned for credit. This may have application in certain scenarios. For example, if a Customer was incorrectly charged sales tax on an item purchased this can be corrected using […]
Summary of General Ledger Postings
Accolent ERP posts transactions to the General Ledger (GL) through the following Accounting Journals: Sales Journal (SJ), Payment Receipts Journal (PR), PO Receipts/Manual Inventory Adjustments Journal (PO), Accounts Payable Journal (AP), Voucher Adjustments Journal (VA), Cash Disbursements Journal (CD) and the General Journal (GJ). The Accounting Journals are automatically posted to the GL immediately upon […]
General Ledger Postings – Payment Receipts Journal
Accolent ERP posts transactions to the General Ledger (GL) through the following Accounting Journals: Sales Journal (SJ), Payment Receipts Journal (PR), PO Receipts/Manual Inventory Adjustments Journal (PO), Accounts Payable Journal (AP), Voucher Adjustments Journal (VA), Cash Disbursements Journal (CD) and the General Journal (GJ). The Accounting Journals are automatically posted to the GL immediately upon […]
General Ledger Posting of Interest
Accolent ERP allows for charging a Customer interest on invoices that are outstanding past the due date based on the terms allowed that Customer. If the system is set up to charge interest, interest will accrue on the unpaid balance after the due date. Interest is recomputed daily in the database and updated to the […]
Getting Started with the General Ledger
Accolent ERP provides a comprehensive GAAP-compliant accounting system and General Ledger (“GL”). The GL is the means by which records are stored of all the financial accounts and transactions in the system. The GL is the basis of all the financial and accounting reporting provided by the system. To use the accounting system, the General […]
General Ledger End of Month and End of Year Close
Accolent ERP’s General Ledger is posted immediately upon a transaction being entered. The transaction is posted to the GL based on the transaction’s date. As such, closing a month or a fiscal year is simply a matter of verifying the transactions that were posted, and making any period adjustments or posting any GL Adjustments and […]
General Ledger Postings – Cash Disbursements Journal
Accolent ERP posts transactions to the General Ledger (GL) through the following Accounting Journals: Sales Journal (SJ), Payment Receipts Journal (PR), PO Receipts/Manual Inventory Adjustments Journal (PO), Accounts Payable Journal (AP), Voucher Adjustments Journal (VA), Cash Disbursements Journal (CD) and the General Journal (GJ). The Accounting Journals are automatically posted to the GL immediately upon […]
General Ledger Postings – Accounts Payable Journal
Accolent ERP posts transactions to the General Ledger (GL) through the following Accounting Journals: Sales Journal (SJ), Payment Receipts Journal (PR), PO Receipts/Manual Inventory Adjustments Journal (PO), Accounts Payable Journal (AP), Voucher Adjustments Journal (VA), Cash Disbursements Journal (CD) and the General Journal (GJ). The Accounting Journals are automatically posted to the GL immediately upon […]