FINACS GENERAL LEDGER Page 1 of 67 GENERAL LEDGER TABLE OF CONTENTS

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1 FINACS GENERAL LEDGER Page 1 of 67 GENERAL LEDGER TABLE OF CONTENTS 1. Financial Year Management Setup Accounts...6 Chart of Accounts...6 Funds...14 Cost Centers...16 Manage Opening Balances Receive Petty Cash Pay Petty Cash Make Payments Print Checks Deposit Checks / Cash Check Register Reconcile Bank Transactions Reconcile Payments By Credit Card Reconcile Receipts By Credit Card Recurring Journal Voucher Template Make Journal Entries Journal Entry Listing Ledger Transactions...64 (Compiled for FINACS v )

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3 FINACS GENERAL LEDGER Page 3 of Financial Year Management The school financial year is used to monitor and track finances in a particular year. It is normally divided into 12 accounting periods. This screen allows you can view, create, edit and close your financial years. You can also manage opening balances for all your accounts from this screen. The current financial year name is displayed in the title bar of the application. Transactions that are to be reflected in the current financial year should be in-between the defined start and end dates. Note: If future (outside the current financial year) student invoices are created, then corresponding new financial years are created automatically. Creating A New Financial Year Finding A Financial Year Closing A Financial Year Creating A New Financial Year: 1. Display Financial Year Management screen from the General Ledger menu. 2. Click [New] to create new a year. 3. Enter FINANCIAL YEAR NAME. This name is referred through out the application. For example you can define a descriptive name to define your accounting / financial year like 2005 or for the year Enter DESCRIPTION for the year. This is like a memo field and can be used for saving any information about the created year.

4 FINACS GENERAL LEDGER Page 4 of Enter the start date of your financial year in the FINANCIAL YEAR START DATE field. Start Date serves as a default setting for date range in listing and some reports. 6. The FINANCIAL YEAR END DATE is auto generated based on the entered start date. 7. Make sure that the entered start/end dates do not overlap with your existing financial years. 8. The application, Finacs does not allow overlapping of financial years and warns you for the same. 9. Click [Save] to record the year. 10. The NUMBER OF PERIODS and the STATUS is displayed once the year is saved. The application, Finacs always divides the financial year into 12 periods. 11. Click [Cancel] to abort the creation of a new financial year and [Close] to close the screen. Finding A Financial Year: 1. Display Financial Year Management screen from the General Ledger menu. 2. Click on the FINANCIAL YEAR NAME lookup [ ] button for a list of all your years. 3. Select the required year and click [Accept]. 4. All the details of the selected financial year are populated in the fields. Closing A Financial Year: Though not required it is recommended to close the previous financial year once you start working in the new financial year. Once a financial year is closed, the application, Finacs does not allow any transactions in that particular year and the P&L & Book of Accounts accounts are updated. However, they can be re-opened and closed any number of times. 1. Display Financial Year Management screen from the General Ledger menu. 2. Select the financial year to be closed from the lookup [ ]. 3. Check the CLOSE FINANCIAL YEAR checkbox. 4. Click [Save] to record the change. Tip: You can change your financial year from the Change Financial Year screen in the File menu.

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6 FINACS GENERAL LEDGER Page 6 of Setup Accounts Chart of Accounts The application, Finacs needs a set of accounts to track your business activity. Chart of Accounts is a systematically arranged list of accounts that is used to classify and track the types of income your organization has. The chart of accounts screen displays a default list of accounts based on the selections that you have made in the School Setup Wizard. You can use them, import your own chart of accounts or create a new set of accounts. Note: Importing chart of accounts overwrites the existing accounts if present. If transactions are already made or if the accounts are linked to family/sponsor/customer/vendor, importing of new chart of accounts is not possible. Viewing Chart of Accounts Creating New Account Group Editing An Account Group Creating New Accounts Inactivating/Activating Account Groups or Accounts Importing Chart of Accounts Viewing Chart of Accounts: 1. Display Chart of Accounts screen from the General Ledger > Setup Accounts menu.

7 FINACS GENERAL LEDGER Page 7 of The application, Finacs displays a tree structure for Account Groups and Accounts. 3. Click [Expand All] to view all the groups, subgroups and accounts. 4. The application, Finacs allows four main roots ASSET, LIABILITY, INCOME and EXPENSE. Account Groups and Accounts can be grouped based on the type of posting. 5. You can create any number of GROUPS under the roots. ACCOUNTS are created under the GROUPS. You can group similar accounts under a group. 6. Accounts form the last level in the chart of accounts tree view i.e. once accounts are created in a group; no more sub groups are allowed. 7. Color-coding is used to differentiate Groups and Accounts. The tree view displays accounts groups and sub groups in blue color and the accounts under them in purple color. 8. Click on the Account Group to view its details. The selected ACCOUNT GROUP details like Group Code, Name, Parent Group, Posting Type & Balance are displayed on the right side of the screen. All the accounts present under the group and their respective balances are displayed on the bottom right side.

8 FINACS GENERAL LEDGER Page 8 of Click on the Account to view its details. The selected ACCOUNT details like Account Name, Group, Code, Type & Balance are displayed on the right side of the screen. 10. Click [Print Chart of Accounts] to print the list of accounts. 11. Opening balances for all the accounts can be entered from the Manage Opening Balances screen. Click [Enter Balances] to open this screen. 12. Click [Close] to close the screen. Creating New Account Group: 1. Display Chart of Accounts screen from the General Ledger > Setup Accounts menu. 2. Click [Expand All] to view all the groups, subgroups and accounts in the tree view. 3. Select the parent group under which you wish to create a new sub group. The selected parent group should not have any accounts under it. Accounts from the last level in the tree view. 4. The selected ACCOUNT GROUP details like Group Code, Name, Parent Group, Posting Type & Balance are displayed on the right side of the screen. 5. Click [Create New Account Group] to create a new group. Or, right click on the parent group under which new group is being created and select [Create New Account Group] from the popup menu.

9 FINACS GENERAL LEDGER Page 9 of The next available GROUP CODE in the selected parent group is populated by default. 7. Enter GROUP NAME. 8. You can edit the GROUP CODE & GROUP NAME. However the PARENT GROUP and POSTING TYPE are not editable. They are populated based on the parent group definition. 9. A posting type is required for each Account Group. This field indicates the posting type against which the accounts present under the group or the corresponding account transactions are posted. Posting can only be of types ASSET, LIABILITY, INCOME, and EXPENSE. Note: - If you choose a control type other than the pre-defined control types, the application, Finacs will apply "OTHER" as the control type. 10. Click [Save] to record the group. 11. The application, Finacs allows any number of groups to be created. However, not more than three group levels are allowed. 12. Note: If the [Create New Account Group] is not visible, make sure the selected parent group doesn t have any accounts present under it. Accounts form the last level in the tree view, indicating that sub groups cannot be created under groups. Editing An Account Group: 1. Display Chart of Accounts screen from the General Ledger > Setup Accounts menu. 2. Click [Expand All] to view all the groups, subgroups and accounts in the tree view. 3. Select the group you wish to modify. 4. The selected ACCOUNT GROUP details like Group Code, Name, Parent Group, Posting Type & Balance are displayed on the right side of the screen. 5. Make the necessary changes. 6. Only the GROUP CODE and the GROUP NAME are editable. If the code entered is already in use and assigned to a different GROUP, the system will prompt to enter a new code. 7. However the PARENT GROUP and POSTING TYPE are not editable. They are populated based on the parent group definition. 8. Account groups (including the accounts) can be moved from one parent group to another. However, both the parent groups should be in the same level. 9. Click [Save] to record the changes and [Cancel] to ignore the changes.

10 FINACS GENERAL LEDGER Page 10 of 67 Creating New Accounts: 1. Display Chart of Accounts screen from the General Ledger > Setup Accounts menu. 2. Click [Expand All] to view all the groups, subgroups and accounts in the tree view. 3. Select the group under which you wish to create a new account. 4. If the selected group has sub groups under it, accounts cannot be created under the same. Note that accounts form the last level in the chart of accounts tree view. 5. The selected ACCOUNT GROUP details like Group Code, Name, Parent Group, Posting Type & Balance are displayed on the right side of the screen. 6. Click [Create New Account] to create a new account. Or, right click on the parent group under which new account is being created and select [Create New Account] from the popup menu. 7. Enter name in the ACCOUNT NAME field. 8. The selected group is displayed in the ACCOUNT GROUP field and the next available ACCOUNT CODE in the selected group is populated in the ACCOUNT CODE field. However you can edit these values. 9. Select the control type from the ACCOUNT TYPE drop-down list. 10. The application, Finacs needs a control TYPE to distinguish the type of account. Based on the control type, accounts in the respective screens are populated. For example in the Setup Vendor screen, all 'Accounts Payable' type accounts are populated, in Setup Customer screen, all Accounts Receivable type accounts are populated. Various control types present are: CASH (Cash Accounts), BANK (Bank or Check Accounts), CC (Credit Card Accounts), REV (Income Accounts), PUR (Expense Accounts), AR (Accounts Receivable or Customer Accounts), AP (Accounts Payable or Vendor Accounts), INV (Inventory Accounts), FA (Fixed Asset Accounts), OTH (Other Accounts), IFB (Fund Balance Account), CLOSE (Reserves and Surplus Account). One IFB account and one CLOSE account are mandatory. Also, only one account of each of these types should be present in your chart of accounts so that the system can automatically post the fund balance and the reserves and surplus when generating balance sheet. 11. Click [Save] to record the account.

11 FINACS GENERAL LEDGER Page 11 of The application, Finacs allows any number of accounts to be created. However, only 999 accounts can be accommodated in a single group. Editing An Account: 1. Display Chart of Accounts screen from the General Ledger > Setup Accounts menu. 2. Click [Expand All] to view all the groups, subgroups and accounts in the tree view. 3. Select the account you wish to modify. 4. The selected ACCOUNT details like Account Name, Parent Group, Code, Posting Type & Balance are displayed on the right side of the screen. 5. Make the necessary changes. 6. All the details can be modified. However, care should be taken while changing the Account Group. If the group is changed, then the account is moved from the existing group to the new selected group. This might cause a change in the account code. 7. Click [Save] to record the changes and [Cancel] to ignore the changes. Inactivating/Activating Account Groups or Accounts: Once an account group or account is created, you cannot delete them completely from the database. However you can make them inactive. When you make a group or an account inactive, the application, Finacs stores the information, but hides it from all the lists. To inactivate an account: 1. Display Chart of Accounts screen from the General Ledger > Setup Accounts menu. 2. Select the account you wish to make inactive. 3. The selected ACCOUNT details like Account Name, Parent Group, Code, Posting Type & Balance are displayed on the right side of the screen. 4. Select the INACTIVE checkbox and click [Save] to record the changes. 5. Once inactivated, the application, Finacs stores the information, but hides it from all the lists. Thus, no transactions can be made on the particular account. To inactivate an account group: 1. Display Chart of Accounts screen from the General Ledger > Setup Accounts menu. 2. Select the group you wish to make inactive. 3. The selected ACCOUNT GROUP details like Group Code, Name, Parent Group, Posting Type & Balance are displayed on the right side of the screen.

12 FINACS GENERAL LEDGER Page 12 of Select the INACTIVE checkbox and click [Save] to record the changes. 5. Make sure all the sub groups and accounts present under the selected group are inactive to make the parent group inactive. Importing Chart of Accounts: The application, Finacs provides a default chart of accounts when a new school is created. These can be overridden by a new set of accounts. However, this has to be done before you make any transactions on the existing accounts. Note: Importing chart of accounts overwrites the existing accounts if present. If transactions are already made or if the accounts are linked to family/sponsor/customer/vendor, importing of new chart of accounts is not possible. 1. Display Chart of Accounts screen from the General Ledger > Setup Accounts menu. 2. Click [Import Accounts]. 3. You can import a new set of accounts in any one of the following methods: a. Using the application, Finacs ' Predefined Chart of Accounts: The application, Finacs provides a predefined list of accounts that is widely used in school accounting. You can view the list by clicking the [View Template] button. b. Importing Chart of Accounts From Excel: Select this if you are using a different accounting package and wish to transfer the existing list of accounts. The application, Finacs provides an excel template for importing your list of accounts. You can copy the list in any one of the formats and import it. To

13 FINACS GENERAL LEDGER Page 13 of 67 import the file: 1. Select Import Chart of Accounts From Excel option. 2. Enter the location of the file or click [ ] to locate the file. 4. Click [Ok] to create a new set of accounts.

14 FINACS GENERAL LEDGER Page 14 of 67 Funds Funds are established to control the financial operations of an organization. Fund in accounting terms can be taken as an entity with a self-balancing set of accounts recording cash and other financial resources along with related liabilities and equities or balances. The application, Finacs works on the basis of funds and in order for any transaction to process at least one fund must be defined. A default fund is provided when a new school is created. If you wish to add new funds, you can do so here. You can also edit and make inactive any fund from this screen. Adding New Funds Finding A Fund Editing A Fund Inactivating/Activating Fund Adding New Funds: 1. Display Funds screen from the General Ledger > Setup Accounts menu. 2. All the funds are displayed in the grid. 3. The screen opens in NEW mode with the focus in the FUND CODE field, allowing you to directly create new funds. 4. Enter FUND CODE. If the code entered is already in use and assigned to a different fund, the system will prompt you to enter a new code. 5. Enter FUND NAME. You can enter up to 50 characters for the fund name. 6. Both the FUND CODE and FUND NAME are mandatory fields. 7. Click [Save] to record the information. 8. Once created, you cannot delete a Fund. However you can make it inactive.

15 FINACS GENERAL LEDGER Page 15 of Click [Cancel] to abort the creation of new fund code. 10. Click [Close] to close the form. Finding A Fund: 1. Display Funds' screen from the General Ledger > Setup Accounts menu. 2. The screen will open in NEW mode for directly creating new funds. Click [Cancel] for VIEW mode. 3. You can find a fund in any of the following methods: All the funds are listed in the grid. You can scroll through the records to find the code. Also, to sort the list according to Code or Name, click on the respective column headers. If the fund code is known, then enter in the CODE field and press the {Tab} key to populate the details. Editing A Fund: 1. Display Funds' screen from the General Ledger > Setup Accounts menu. 2. All the funds are listed in the grid. You can scroll through the records to find the code. Refer Finding A Fund section on more help on finding a fund. 3. Double click on the code in the grid. The FUND code and NAME are displayed in the textboxes. Make the required changes. 4. FUND CODE cannot be modified, as it is required to uniquely identify the fund. 5. Click [Save] to save your changes or [Cancel] to ignore the changes. 6. Click [Close] to close the form. Closing the form without saving the data will pop up a warning message to save the changes. Click [No] to ignore the changes. Click [Yes] to save the changes and to close the screen and click [Cancel] to go back to the Funds screen. Inactivating/Activating Funds: When you make a fund inactive the application, Finacs stores the information, but hides the code from all the lists i.e. you cannot use this fund to make any future transactions. At least one active fund should be present for running the application. 1. Display Funds screen from the General Ledger > Setup Accounts menu. 2. Select the fund to be made inactive. 3. Select INACTIVE option. 4. Click [Save] to record the changes. 5. You can reactivate the code by selecting the ACTIVE option in this screen.

16 FINACS GENERAL LEDGER Page 16 of 67 Cost Centers Cost centers are like departments or sections, which incur some expenditure. The application, Finacs allows you to set up various cost centers and link transactions to them. You can later view reports or filter transactions based on your cost centers. For example: you can create a cost center named Primary School and assign all your primary school transactions to it. This helps you to track your primary school expenses and related expenditure. Any number of cost centers can be created. Cost centers are optional and you can still make transactions without linking them to any cost centers. Adding New Cost Centers Finding A Cost Center Editing A Cost Center Inactivating/Activating Cost Centers Adding New Cost Centers: 1. Display Cost Centers screen from the General Ledger > Setup Accounts menu. 2. All the cost centers are displayed in the grid. 3. The screen opens in NEW mode with the focus in the COST CENTER CODE field, allowing you to directly create new cost centers. 4. Enter COST CENTER CODE. If the code entered is already in use and assigned to a different cost center, the system will prompt you to enter a new code. 5. Enter COST CENTER NAME. You can enter up to 50 characters for the cost center name.

17 FINACS GENERAL LEDGER Page 17 of Both the COST CENTER CODE and COST CENTER NAME are mandatory fields. 7. Click [Save] to record the information. 8. Once created, you cannot delete a Cost Center. However you can make it inactive. 9. Click [Cancel] to abort the creation of new code. 10. Click [Close] to close the form. Finding A Cost Center: 1. Display Cost Centers' screen from the General Ledger > Setup Accounts menu. 2. The screen will open in NEW mode for directly creating new cost centers. Click [Cancel] for VIEW mode. 3. You can find a Cost Centers in any of the following methods: a. All the cost centers are listed in the grid. You can scroll through the records to find the code. b. Also, to sort the list according to Code or Name, click on the respective column headers. c. If the cost center code is known, then enter in the COST CENTER CODE field and press the {Tab} key to populate the details. Editing A Cost Center: 1. Display Cost Centers' screen from the General Ledger > Setup Accounts menu. 2. All the cost centers defined are listed in the grid. You can scroll through the records to find the code. Refer Finding A Cost Center section on more help on finding a code. 3. Double click on the code in the grid. The selected COST CENTER CODE and COST CENTER NAME are displayed in the textboxes. Make the required changes. 4. COST CENTER CODE cannot be modified, as it is required to uniquely identify the cost center. 5. Click [Save] to save your changes or [Cancel] to ignore the changes. 6. Click [Close] to close the form. Closing the form without saving the data will pop up a warning message to save the changes. Click [No] to ignore the changes. Click [Yes] to save the changes and to close the screen and click [Cancel] to go back to the Cost Centers screen. Inactivating/Activating Cost Centers: When you make a cost center inactive the application, Finacs stores the information, but hides the code from all the lists i.e. you cannot use this cost center to make any future transactions. Cost centers are optional. 1. Display Cost Centers screen from the General Ledger > Setup Accounts menu. 2. Select the cost center to be made inactive. 3. Select INACTIVE option. 4. Click [Save] to record the changes. 5. You can reactivate the code by selecting the ACTIVE option in this screen.

18 FINACS GENERAL LEDGER Page 18 of 67 Manage Opening Balances Opening Balance is the amount of money that is present in an account as on the financial year start date. These balances can be entered manually or updated from the previous financial year. This screen allows you to manage opening balances of all your asset and liability accounts. Select the fund from the FUND drop-down to view opening balances based on the selected fund. If you have opening balances for your accounts before using the application, Finacs, enter them here. The application, Finacs requires opening balances to be entered only for your first financial year. For the successive years, you can update the opening balances from the previous years. Viewing Opening Balances Entering Opening Balances Entering Opening Balances for AR and AP Accounts Viewing Opening Balances: 1. Display the Manage Opening Balance screen. Click [Manage Opening Balances] from the Financial Year Management screen or click [Enter Balances] from the Chart of Accounts screen. 2. Select fund from the FUND drop-down list. 3. All the balance sheet accounts are displayed. 4. The list also displays Code, Account Name, Opening Balance, Cr/Dr Balance, Group Name, Posting Type and Control Type against each account. 5. Click on the column headers to sort the list. 6. The debit (positive) and the credit (negative) opening balances are color coded for easy differentiation.

19 FINACS GENERAL LEDGER Page 19 of 67 Entering Opening Balances: If you are using the application, Finacs for the first time or working in the first financial year then follow the steps given below to enter the opening balances. For all consecutive years click [Update Opening Balances from Pervious Years] to automatically update previous year s balances. Note: The application, Finacs does not allow manually entry of opening balances if previous year s data is present. It automatically updates all the accounts when the update balances is clicked. If any adjustments are required in the previous year account balances: you need to login to the previous year and create the necessary JVs. 1. Display the Manage Opening Balance screen and select the FUND drop-down list. 2. All your balance sheet accounts are displayed. 3. By default the application, Finacs enters zero as opening balances for all these accounts. 4. Click or double click on the OPENING BALANCE cell for the appropriate account and enter amount. 5. For positive or debit balances select DR from the DR/CR column and for negative or credit balances, select DR from the DR/CR column. The debit and the credit opening balances are color coded accordingly. 6. Also, while entering credit amounts, instead of entering the amount and selecting CR from the DR/CR cell, you can directly enter - along with the amount. For example you can enter 10,000 directly. 7. Follow the above steps for all your accounts. 8. For Accounts Receivable and Accounts Payable account types, you need to enter the sub-accounts opening balances. 9. Make sure the credit total and debit total is equal before saving. This ensures that the previous years balance sheet tallies and the account balances are accurate. 10. Click [Save] to record.

20 FINACS GENERAL LEDGER Page 20 of 67 Entering Opening Balances for Accounts Receivable and Accounts Payable: Customers and Vendor opening balances are to be entered in the Manage Vendor/Customer Opening Balance screen. When you are entering customers opening balances, you are actually adding to the Accounts Receivable account. Similarly, when entering the opening balances for vendors accounts, you are adding to the Accounts Payable account. 1. Display the Manage Opening Balance screen and select the FUND drop-down list. 2. All your balance sheet accounts are displayed. 3. Double click on the appropriate account that has sub-accounts. Alternatively, you can also click [Manage Vendor/Customer Opening Balance] button. 4. The Manage Vendor/Customer Opening Balance screen is opened. 5. Select the control account from the CONTROL ACCOUNT drop-down list. 6. All the sub-accounts in the selected account are displayed. 7. By default the application, Finacs enters zero as opening balances for all these accounts. 8. Click or double click on the OPENING BALANCE cell for the appropriate account and enter amount. 9. For positive or debit balances select DR from the DR/CR column and for negative or credit balances, select DR from the DR/CR column. The debit and the credit opening balances are color coded accordingly. 10. Also, while entering credit amounts, instead of entering the amount and selecting CR from the DR/CR cell, you can directly enter - along with the amount. For example you can enter 10,000 directly. 11. Make sure the credit total and debit total is equal before saving. This ensures that the previous years balance sheet tallies and the account balances are accurate. 12. Click [Save] to record.

21 FINACS GENERAL LEDGER Page 21 of Receive Petty Cash You can enter petty cash receipts in this screen. The receipts affect petty cash accounts and can be made against student families, sponsors, customers, or vendors. There can also be payments made by one-time customers or walk-in individuals for a service you provided. They need not be related to any earlier recorded transaction. This is reflected in your Book of Accounts by debiting the Petty Cash Account and crediting the selected account in the grid. Creating Petty Cash Receipts Finding Petty Cash Receipts Editing Petty Cash Receipts Voiding Petty Cash Receipts Creating Petty Cash Receipts: 1. Display Receive Petty Cash from the General Ledger menu. 2. The screen opens in NEW mode with the focus in the COLLECT FROM field, allowing you to directly create new petty cash receipts. 3. TRANSACTION NUMBER is a system generated unique number used of distinguishing the transaction. It is created once the transaction is saved. Transaction number is displayed in all the reports and the ledger transactions. 4. Select a petty cash account from the RECEIVE INTO combo. This selected account gets debited. This screen is generally used to capture transactions made, using a petty cash account. However any cash account can be selected from the dropdown account list. 5. Enter a REFERENCE NUMBER for the voucher. Reference number is also auto generated by the system, but it is editable. For example you can enter reference numbers to group the receipts entered in a particular month etc.

22 FINACS GENERAL LEDGER Page 22 of Enter the name of the person against whom the voucher is made in the COLLECT FROM field. 7. Enter Date and Amount of cash received. 8. Current date is populated in the DATE field by default. You can edit the date to reflect the date of voucher. 9. We can key in the account code directly in ACCOUNT CODE cell and tab out then the corresponding cells will populate automatically in accounts grid. Or, you can pull the Account from the Lookup [ ] button present in the ACCOUNT NAME cell. In the accounts grid, enter the Account Code from which the amount should be credited. Click in the ACCOUNT NAME cell for the lookup icon [ ] to be displayed. Click on the icon to bring up the account lookup screen with a list of all your accounts. Select an account and click [Accept]. You can create new accounts General Ledger > Setup Accounts > Chart of Accounts screen. Or, click [Add] in the Account - Lookup screen to directly add new accounts. Select the item and click [Accept]. 10. Enter the CREDIT amount. 11. Select all the accounts that are to be credited and enter the credit amounts. 12. The sum of all the credit amounts in the accounts grid should match the debit amount in the header.

23 FINACS GENERAL LEDGER Page 23 of Enter Cost Center and Narration (optional). You can set the default cost center in Application Setup under Utilities menu. You can set a cost center to populate every time you create a payment voucher by setting it as default in Application Setup from Utilities menu. 14. Click [Save] to record the transaction. The selected Petty Cash account in the header is debited and the detail grid accounts are credited. 15. Click [Cancel] to abort and [Close] to close the form. 16. Once saved, the TRANSACTION NUMBER is generated. The [Print] button is enabled allowing you print the invoice. 17. The printed transaction displays all the accounts involved in the selected voucher. The report header and footer details can be set using 'Report Header' under Utilities menu. 18. Use the [Change Fund] button to change the FUND or COST CENTER for the current transaction. You can set the required fund and cost center to populate every time you open the screen by defining them in the Application Setup screen from the Utilities menu. The selected fund for the transaction can also be viewed on the title bar of the screen. Finding Petty Cash Receipts: 1. Display Receive Petty Cash from the General Ledger menu. 2. The screen will open in NEW mode for directly creating new transactions. Click [Cancel] for VIEW mode. 3. You can find a petty cash transaction in any of the following methods: If the transaction number is known, then enter the number in the TRANSACTION NUMBER field and press {Tab} key to populate all the transaction details. Else, click the search screen icon next to the TRANSACTION NUMBER to list all the transactions. Select a transaction and click [Accept].

24 FINACS GENERAL LEDGER Page 24 of All the accounts debited and credited in the selected voucher are displayed. Editing Petty Cash Receipts: You can edit Petty Cash transactions details like reference number, voucher date, transaction amount, or accounts. Transaction number cannot be edited, as it is a system-generated number. 1. Display Receive Petty Cash from the General Ledger menu. 2. The screen will open in NEW mode for directly creating new transactions. Click [Cancel] for VIEW mode. 3. Select the transaction to be edited either by entering the TRANSACTION NUMBER or by selecting the transaction from the search screen. 4. All the details for the selected petty cash transaction are populated. Reference number, voucher date, transaction amount, or accounts can be modified. 5. Make the required changes and click [Save]. 6. Click [Cancel] to ignore the changes. 7. Click [Close] to close the form. Closing the form without saving the data will pop up a warning message to save the changes. Click [No] to ignore the changes. Click [Yes] to save the changes and to close the screen and click [Cancel] to go back to the 'Vendor Credits' screen. Voiding Petty Cash Receipts: Voiding will change the transaction amount to zero and the corresponding posting in the Book of Accounts will be nullified. Once voided, further transactions are not possible. 1. Display Receive Petty Cash from the General Ledger menu. 2. Find the transaction either by entering the TRANSACTION NUMBER or by selecting the transaction from the search screen. 3. All the details for the selected petty cash transaction are populated. 4. Click [Void]. 5. Voiding will change the transaction amount to zero and the corresponding posting in the Book of Accounts will be nullified.

25 FINACS GENERAL LEDGER Page 25 of 67 Tip: You can setup a default Petty Cash account in the Application Setup preferences under Utilities menu. This default account is populated each time the Receive Petty Cash screen is opened.

26 FINACS GENERAL LEDGER Page 26 of Pay Petty Cash You can enter petty cash payments in this screen. The payments affect petty cash accounts and can be made against student families, sponsors, customers, or vendors. They can be reimbursements made to employees or payments made to any individuals who paid business expenses with their personal funds or advanced accounts. They need not be related to any earlier recorded transaction. This is reflected in your Book of Accounts by crediting the Petty Cash Account and debiting the selected account in the grid. Creating Petty Cash Payments Finding Petty Cash Payments Editing Petty Cash Payments Voiding Petty Cash Payments Creating Petty Cash Payments: 1. Display Pay Petty Cash from the General Ledger menu. 2. The screen opens in NEW mode with the focus in the PAID TO field, allowing you to directly create new petty cash payments. 3. TRANSACTION NUMBER is a system generated unique number used of distinguishing the transaction. It is created once the transaction is saved. Transaction number is displayed in all the reports and the ledger transactions. 4. Select a petty cash account from the PAY FROM combo. This selected account gets credited. This screen is generally used to capture transactions made, using a petty cash account. However any cash account can be selected from the dropdown account list. 5. Enter a REFERENCE NUMBER for the voucher. Reference number is also auto generated by the system, but it is editable. For example you can enter reference numbers to group the payments made in a particular month etc.

27 FINACS GENERAL LEDGER Page 27 of Enter the name of the person against whom the voucher is made in the PAID TO field. 7. Enter Date and Amount of cash paid. 8. Current date is populated in the DATE field by default. You can edit the date to reflect the date of voucher. 19. We can key in the item code directly in ACCOUNT CODE cell and tab out then the corresponding cells will populate automatically in accounts grid. Or, you can pull the Account from the Lookup [ ] button present in the ACCOUNT NAME cell. We can also enter the Account Code to which the amount should be debited in accounts grid. Click in the ACCOUNT NAME cell for the lookup icon [ ] to be displayed. Click on the icon to bring up the account lookup screen with a list of all your accounts. Select an account and click [Accept]. You can create new accounts General Ledger > Setup Accounts > Chart of Accounts screen. Or, click [Add] in the Account - Lookup screen to directly add new accounts. Select the item and click [Accept]. 9. Enter the DEBIT amount. 10. Select all the accounts that are to be debited and enter the debit amounts. If Budget is defined and the budgeted amount for the selected accounts exceed, the user is

28 FINACS GENERAL LEDGER Page 28 of 67 notified based on the selected budget validations. Refer Budget Management and Budget Validations for more details. 11. The sum of all the debit amounts in the detail grid should match the credit amount in the header. 12. Enter Cost Center and Narration (optional). You can set the default cost center in Application Setup under Utilities menu. You can set a cost center to populate every time you create a payment voucher by setting it as default in Application Setup from Utilities menu. 13. Click [Save] to record the transaction. The selected Petty Cash account in the header is credited and the detail grid accounts are debited. 14. Click [Cancel] to abort and [Close] to close the form. 15. Once saved, the TRANSACTION NUMBER is generated. The [Print] button is enabled allowing you print the invoice. 16. The printed transaction displays all the accounts involved in the selected voucher. The report header and footer details can be set using 'Report Header' under Utilities menu. 17. Use the [Change Fund] button to change the FUND or COST CENTER for the current transaction. You can set the required fund and cost center to populate every time you open the screen by defining them in the Application Setup screen from the Utilities menu. The selected fund for the transaction can also be viewed on the title bar of the screen. Finding Petty Cash Payments: 1. Display Pay Petty Cash from the General Ledger menu. 2. The screen will open in NEW mode for directly creating new transactions. Click [Cancel] for VIEW mode. 3. You can find a petty cash transaction in any of the following methods: If the transaction number is known, then enter the number in the TRANSACTION NUMBER field and press {Tab} key to populate all the transaction details. Else, click the search screen icon next to the TRANSACTION NUMBER to list all the transactions. Select a transaction and click [Accept].

29 FINACS GENERAL LEDGER Page 29 of All the accounts debited and credited in the selected voucher are displayed. Editing Petty Cash payments: You can edit Petty Cash transactions details like reference number, voucher date, transaction amount, or accounts and save. Transaction number cannot be edited, as it is a systemgenerated number. 1. Display Pay Petty Cash from the General Ledger menu. 2. The screen will open in NEW mode for directly creating new transactions. Click [Cancel] for VIEW mode. 3. Select the transaction to be edited either by entering the TRANSACTION NUMBER or by selecting the transaction from the search screen. 4. All the details for the selected petty cash transaction are populated. Reference number, voucher date, transaction amount, or accounts can be modified. 5. Make the required changes and click [Save]. 6. Click [Cancel] to ignore the changes. 7. Click [Close] to close the form. Closing the form without saving the data will pop up a warning message to save the changes. Click [No] to ignore the changes. Click [Yes] to save the changes and to close the screen and click [Cancel] to go back to the 'Vendor Credits' screen. Voiding Petty Cash Receipts: Voiding will change the invoice amount to zero and the corresponding posting in the Book of Accounts will be nullified. Once voided, further transactions are not possible. 1. Display Pay Petty Cash from the General Ledger menu. 2. Find the transaction either by entering the TRANSACTION NUMBER or by selecting the transaction from the search screen. 3. All the details for the selected petty cash transaction are populated. 4. Click [Void].

30 FINACS GENERAL LEDGER Page 30 of Voiding will change the transaction amount to zero and the corresponding posting in the Book of Accounts will be nullified. Tip: Setup a default Petty Cash account in the Application Setup preferences under Utilities menu. This default account is populated each time the Pay Petty Cash screen is opened.

31 FINACS GENERAL LEDGER Page 31 of Make Payments You can view bills and make payments for Customers, Family/Sponsors, and Staff here. The payment grid lists all your unapplied credits, payments and JV Credits against the selected contact as of date. Mode of payment can be through cash, check or through credit card. The payment transaction indicates that the payment is made to the contact and the paid amount is reflected in their balance. This is reflected in your Book of Accounts by debiting the contact s account and crediting the corresponding cash/bank/credit card accounts. Payments can be made against unapplied credits/payments or can be advance payments. The application, Finacs allows advance payments, which can later be adjusted. Also, multiple accounts having debits and credits can be added for more flexibility and to make the transaction reflect in all the selected accounts. Making Other Payments Finding Other Payments Editing Other Payments Voiding Other Payments Making Other Payments: 1. Display the ' Make Payments screen from the General Ledger menu.

32 FINACS GENERAL LEDGER Page 32 of The screen opens in NEW mode allowing you to directly make payments. 3. Select the contact type from the MAKE PAYMENT TO combo. Based on the type selected the PAY TO combo is populated. 4. Choose CASH as your mode of payment for cash payments, CHECK for check payments & CREDIT CARD for credit card payments. By default mode of payment is CHECK. 5. Based on the payment method, the accounts list in the PAY FROM combo will be populated. If cash option is selected then only accounts those are defined, as CASH are listed. For check option, accounts that are defined as CHECK or whose control type is CHECK are listed. Similarly for credit card option, accounts defined as CREDIT CARD are listed. You can create new accounts in General Ledger > Setup Accounts > Chart of Accounts. To refresh the list with any newly created accounts, re-open the screen. Also, you can define default accounts to populate every time a mode of payment is selected by setting them as default in Application Setup from Utilities menu. (Select the appropriate accounts for the fields Cash On Hand, Checks on Hand and Credit Card Receipt for the default settings.) 6. Select an account from the PAY FROM drop-down list. This cash / bank / credit card account is credited once the transaction is saved. 7. For Cash and Credit Card payments, a TRANSACTION NUMBER is generated. A transaction number is a system generated unique number used of distinguishing the transaction. It is created once the transaction is saved. Transaction number is displayed in all the reports and ledger transactions. 8. For Check payments, CHECK NUMBER is generated once the check is printed. Reference number is displayed in all the reports and the ledger transactions. 9. The TRANSACTION DATE will display current date. This can be changed to reflect the actual date of payment. 10. Select the contact from the PAY TO drop-down list. If you have selected OTHER CUSTOMERS as contact type in the MAKE PAYMENT TO combo, the PAY TO drop-down displays all the customers in your list. Similarly if you have selected FAMILY/SPONSORS as contact type, the PAY TO combo displays all the student family/sponsors in your list. Same with Staff. If you have selected OTHERS, then any name can be entered in the PAY TO field.

33 FINACS GENERAL LEDGER Page 33 of 67 You can pay only customers, family/sponsors and staff present in your current list. If you do not find a contact s name in the drop-down list, you can add the person to your company's list by clicking [Add New] button. Clicking [Add New] opens Setup Customer or Setup Family/Sponsor or Setup Staff screen based on the contact type selected in the MAKE PAYMENT combo. 11. All the unapplied payments, credits and JV credits for the selected contact are listed in the BILL DETAILS tab. 12. Select one or more transactions against which you wish to pay. The selection will assume that you are clearing the whole AMOUNT DUE and will populate the full amount in the AMOUNT PAID column. 13. If you wish to edit the payment amount, change the amount in the AMOUNT PAID column. 14. The total of all the AMOUNT PAID columns is displayed in the AMOUNT field. The Amount in words is populated based on AMOUNT field. 15. For check payments, the amount being credited from the bank is displayed in the CHECK AMOUNT field. In this case, the AMOUNT IN WORDS reflects the CHECK AMOUNT. 16. If you wish to make advance payments or payments that are not made against any transactions, then click the ADVANCE PAYMENT checkbox. (This is only enabled for Staff in earlier versions.) 17. This disables the BILL DETAILS tab and allows you to directly enter the payment amount in the AMOUNT field. 18. Also, when making payments to OTHERS (contacts who are not in your list); it acts as advance payments where payments are not made against any transactions. The BILL DETAILS tab and allows you to directly enter the payment amount in the AMOUNT field. 19. The ACCOUNT DETAILS tab displays the accounts that are affected in the current transaction. By default the selected cash/bank/credit card account that is being credited and the vendor account that is being debited is displayed. The DEBIT and CREDIT amounts are displayed based on the selected bills in the BILL DETAILS tab. (The total of the AMOUNT PAID columns is displayed.)

34 FINACS GENERAL LEDGER Page 34 of 67 The debit amount against the vendor cannot be edited in the ACCOUNT DETAILS tab. To change this amount, make the necessary changes in the BILL DETAILS tab. The credit amount from the cash/bank/credit card account can be edited. For bank payments, this amount is displayed in the CHECK AMOUNT field and is the actual amount that is being credited. 20. Multiple accounts with the corresponding debit and credit amounts can be selected in the ACCOUNTS TAB. The total debits and credits should match before saving the transaction. To add accounts, click in the ACCOUNT NAME cell for the lookup icon [ ] to be displayed. Click on the icon to bring up the account lookup screen with a list of all your accounts. Select an account and click [Accept]. You can create new accounts in General Ledger > Setup Accounts > Chart of Accounts. Or, click [Add] in the Account Code - Lookup screen to directly add new accounts. 21. If Budget is defined and the budgeted amount for the selected accounts exceed, the user is notified based on the selected budget validations. Refer Budget Management and Budget Validations for more details. 22. Click [Save] to record the information. 23. Once saved, for cash /credit card transactions, the TRANSACTION NUMBER is generated and the [Print Receipt] button is enabled allowing you print the payment receipt. 24. For check payments, the check number still says <To Be Printed>. To print the check, click the [Print Check] button. The check will be printed with the next available check number for the selected bank account. 25. You can print and reprint all your issued checks later from the 'Print Check' screen. Refer Printing Issued Checks section for more details. 26. Use the [Change Fund] button to change the FUND or COST CENTER for the current transaction. You can set the required fund and cost center to populate every time you open the screen by defining them in the Application Setup screen from the Utilities menu. The selected fund for the transaction can also be viewed on the title bar of the screen. 27. Click [Cancel] to abort and [Close] to close the form. Finding Other Payments: 1. Display the 'Make Payments screen from the General Ledger menu. 2. The screen will open in NEW mode for directly making new vendor payments. Click [Cancel] for VIEW mode. 3. You can find a payment transaction in any of the following methods: Click on the TRANSACTION NUMBER search icon to bring up a search screen. Click [Retrieve] without using any filters to list all the existing payment transactions. Select the transaction and click [Accept]. If the transaction number is known, enter code in TRANSACTION NUMBER field and press the {Tab} key to populate transaction details.

35 FINACS GENERAL LEDGER Page 35 of The vouchers that are involved in the selected payment are displayed in the BILL DETAILS tab and the accounts affected in the selected transaction are listed in the Account Details tab. Editing Other Payments: You can edit existing payment transactions by adding or deleting accounts that are affected by the transaction. However, the header section details like the transaction DATE, AMOUNT and CHECK AMOUNT cannot be edited. You can void the transaction and create new if any of the above mentioned header section details are to be modified. 1. Display 'Make Payments' screen from the General Ledger menu. 2. The screen will open in NEW mode for directly making new vendor payments. Click [Cancel] for VIEW mode. 3. Click on the TRANSACTION NUMBER search icon to bring up a search screen. Click [Retrieve] without using any filters to list all the existing payment transactions. Select the transaction and click [Accept]. 4. The TRANSACTION NUMBER, DATE, AMOUNT, PAYMENT METHOD, etc., are displayed in the header section and the invoices against which the payment is made are displayed in the BILL DETAILS tab. The accounts affected in the selected transaction are listed in the ACCOUNT DETAILS tab. 5. You cannot change the mode of payment. However, the account details can be changed. 6. Multiple accounts with the corresponding debit and credit amounts can be selected in the ACCOUNTS TAB. The total debits and credits should match before saving the transaction. To add accounts, click in the ACCOUNT CODE cell for the lookup icon [ ] to be displayed. Click on the icon to bring up the account lookup screen with a list of all your accounts. Select an account and click [Accept]. You can create new accounts in General Ledger > Setup Accounts > Chart of Accounts. Or, click [Add] in the Account Code - Lookup screen to directly add new accounts. 7. Make the required changed and click {[Save]} to record the information.