Training
Course Title: MAS 90 General Ledger Fundamentals
Type of Presentation: Instructor led presentation and hands-on lab.
Course Description: Hands-on overview of the MAS 90 General Ledger module
Course Outline: This class is all about setting up a financial reporting system. Learn how to set up a chart of accounts, how to record journal entries, the relationships between other modules and the GL system, how to close the books and more. This course is designed for new MAS 90 users who are comfortable using a Windows-based computer and have basic accounting knowledge.
1.
General
Ledger module overview
a)
General Ledger features
i)
Posting to future periods allows posting to next year
while current year is still open
ii)
Can reopen any fiscal year by changing GL date, posting
adjustments and reclosing year
a)
For as long as detailed history kept for prior periods
(set in GL Options)
iii)
Each journal entry can contain 9999 distribution lines
b) GL as a stand-alone module or integrated with other modules
2.
Setting up a
General Ledger
a)
Registering the GL module
b)
General Ledger Options
i)
Account number structure
a)
9 digits in max. 3 segments
(1)
first segment always defines the primary account
(2)
2nd and 3rd segments (optional)
can be used to identify subaccounts, divisions,
locations etc.
ii)
Budget Options - can define 3 budgets, Current, Revised
and User Defined
a)
Specify default budget to use on standard financial
statements
b)
Define Auto budget to use to establish next year’s
budget at year end
iii)
Current fiscal year and period
a)
Start point for new GL
b)
Incremented automatically via Period End processing
iv)
How long to retain Transactional and Summary history
c)
Fiscal periods and ending dates
i)
Assumes 12 month calendar year
ii)
Change fiscal year by changing ending date of first
period and calculating
d)
Setting up source journals
i)
Set up source journal codes to attach to each GL entry
ii)
Register numbers are unique to each source journal
iii)
Some reports can be run by source journal
e)
Designing a Chart of Accounts
i)
Account numbers and account number breaks
a)
Breaks define account type based on number range
b)
13 predefined account break types
(1)
Use Account Break Type Maintenance - define titles to
be used in financial statements for each break type
(2)
Account Break Maintenance - Define each break and add
new breaks
ii)
Departments and locations
a) Define subdivisions (locations, departments etc.) for segments created in GL Options
3.
GL Account maintenance
a)
Setting up accounts
i)
Account Type - depending on where account falls in
account break structure, further defines account for purposes of calculating
ratios etc.
ii)
Cash Flows Code - defines where changes to account are
reflected in Statement of Cash Flows
b)
Copying accounts - allows main account to be copied to
multiple departments or locations
c)
Account History - allows viewing of monthly changes to
account balance
d)
Entering and viewing budget information (if Maintain
Budgets from Account Maintenance selected in GL Options)
i)
Can copy any of 3 budgets to another budget or to
another year
ii)
View variance for TY actual vs. any budget, or prior
year’s activity
e)
Viewing Transactions posted to each GL account - for as
long as transaction history kept in GL Options
i)
Zoom to transactional detail
ii)
Zoom to posting journal entry
4.
GL Account
Inquiry - read only view of Account Maintenance
a) Can set permissions for users/groups only allowing access to Inquiry
5.
Entering a
General Journal Entry
a)
Used to post misc. postings and adjustments to GL,
other modules create their own GL entries
b)
Posting Date - determines which period transaction
posts to
c)
Reversing Date - automatically reverses entry in period
specified
i)
for entering accruals and prepaids
that reverse in subsequent periods
d)
“Allocate” button - to post manual allocations created
in Allocation Entry Maintenance
e)
“Save” button - allows saving journal entry as Standard
Journal for reuse
i)
Each Source journal can have one Standard Journal
attached to it
ii)
If saved, when Source Journal opened to create new
entry, you are asked if you want to use the Standard Journal. If yes, the saved entry is entered and can be
modified to create a new GJ Entry
iii)
To delete a previously saved Standard Journal, open
Source Journal in General Journal Entry, select “Save” and then Delete
f)
Using a GJE to enter beginning account balances
i) Using separate GJEs for each month if midyear
6.
Running
General Journal Report and updating the General Ledger
a)
All Journal Entries must balance before GL can be
updated
b)
Posts all general journals to GL Detail Transaction
file
c)
Account master files are updated
d) GJE files are cleared
7.
Working with
Budgets
a)
Entering initial and modifying existing budget numbers
(either in Budget Maintenance or in Account Maintenance if activated GL
Options)
i)
Allows entry directly into budget
ii)
copy a first period’s budget amount to successive
periods by selecting a field and selecting “Change Budget” button
a)
can copy amount or change successive periods by a $
amount or percentage
b)
Budget Report - prints budget entries by account/by
period
c)
Budget Revision Entry and the Budget Revision Register
i)
Allows modification of entire budget or range of
accounts based on a calculated amount of another budget or actual amount
ii)
Creates a revision entry that is subsequently posted to
the budget by running and updating the Budget Revision Register
iii)
Allows preliminary budget adjustments without affecting
permanent files
d)
Allocating annual budgets to months
e)
Automatic Budget Copy - revise any current or future
budget by a calculated amount based on another budget or actual amounts
i) Directly changes budget without an audit trail
8.
Using Allocation
Maintenance to set up automatic allocation entries
a)
Automatically posts a single source account to multiple
destination accounts
i)
Can distribute balance of source account or set $
amount
b)
Allocation type - destination amounts based on percent
of total allocated or quantity entered for each
c)
Allocation Cycle - determines when allocation entry is
posted
i)
Period, Quarterly or Annually - allocation made
automatically in Period End processing
ii) Manual - Available by selecting “Allocation” button in General Journal Entry
9.
Recurring
Journal Entries - entries that do not automatically change from one period
to the next
a)
Unlike Standard Journals, dollar amounts also save with
the journal entry and can select a group of recurring journal entries to post
at one time
b)
Select Cycle - User defined code allows selecting a
group of entries for posting
c)
Stop Date - can specify a date after which the journal
entry is no longer selected
d)
Selecting, printing and updating the Recurring Journal
i)
Can run by Source Journal, Selection Cycle and/or
reference number range
ii) Posts recurring journals to GL Detail Transaction File
10.
Using
Transaction Journal Entries to enter cash receipts and disbursements
a)
Allows posting of detail to build the offsetting cash
entry
b)
Changing format of journal to automate detail entries
i)
format stored with associated journal
c)
Printing and updating the transaction journal
i) posts transaction journal entries to the General Ledger Detail Transaction File
11.
Running and
updating the Daily Transaction Register
a) Posts entries from all other modules to the GL Detail Transaction File
12.
Running GL
reports
a)
Chart of Accounts
b)
General Ledger Worksheet - used to manually construct
adjusting entries
i)
Can print at any current or future accounting date
c)
General Ledger Analysis - prints a summary income
statement and balance sheet plus 13
financial ratios
d)
Budget and History Report - can print comparison for up
to 5 budget and actual amounts for 13 periods
e)
Trial Balance
f)
Standard Financial Statements - income statement and
trial balance
i)
Can be run for any current or future accounting period
ii)
Can run by GL segment, or combined
iii)
Can print period-to-date and/or year-to-date data and
balance sheet comparisons
iv) Can add user-defined footnotes to each page
13.
Custom
Financial Statements
a)
Custom Report Generation - wizard automatically
generates a set of financial statements (Income Statement, Balance Sheet and
Statement of Cash Flows)
i)
Reports run in ascending order. Income statement must have a lower number to
automatically update the balance sheet and statement of changes
a)
Prompt if update needed
b)
Custom Report Maintenance - allows modification of
reports created by Custom Report Generation and creating of new reports
i)
Linkage defines what is included in each report line
ii)
Can link to reports for other companies to produce
consolidated reports
a)
Does not automatically create consolidation entries,
but can be accommodated by linking and calculations
c)
Custom Report Group Maintenance - allows grouping of
custom reports to be run as a group
d) Custom Report Printing - allows printing a range of report numbers and groups
14.
Period End Processing
(year-end if last period in fiscal year)
a)
Running Allocation Selection - runs period, quarterly
and year-end cycles as defined in Allocation Maintenance
i)
Printing and Updating the Allocation Journal - posts
allocation entries to the GL
b)
Period End and Year End processing
i)
Full Period End Processing - Closes the accounting
period and cycles accounting period forward
a)
Option to Run Allocations if not already done for
period
b)
Option to print standard period-end reports
ii)
Consolidate GL Detail Records - purges period summary
history into a consolidated balance (based on number of years history retained
as specified in GL Options)
a)
Can be used at any time
iii)
Purge Transaction Detail History - purges transactional
information
a)
Can be used at any time to free up disk space
iv)
Purge Period End History - Clears the Period Summary
Detail file
a) Can be used at any time to free up disk space
15.
Using the Xchange Menu
a)
Can import and export GL account and transaction data
to ASCII text, Delimited, DIF, Lotus or Dbase III file
i)
On import, data is validated and records failing
validation are not imported. The import
log provides an audit trail
ii)
On export to Lotus, unwanted insignificant digits must
be handled in Lotus via. @ROUND function
b)
Can use to import information from existing accounting
system on conversion
i)
Data fields (Lotus column headers) must match MAS90
data format
a)
Unused numeric fields should contain a 0
b)
Unused text fields should be empty
c)
Using Xchange to import
budget information
i) If the account number already exists in the GL, an Xchange only inputs the budget information