Financial Best Practices and Handy Tools Laura Tidquist Technical Support Manager Association Technology Solutions
What will we cover? General best practices for entry/edit of cash transactions Credit/debit memos Refunds Batches Month-end processes in A/R Cash Service Central Review basic reports that are available out-of-the-box Month-end procedures & GL interface options/recommendations Quick review and/or demonstration of the AR/Dues Importer Permission levels and what data, particularly credit card information, can be view by staff at the various levels.
imis Accounting A good foundation is the key to success Review of module setup imis is an accounts receivable system Records cash and income (revenue) Does not track expenses imis is your DETAIL! Types of Transactions Cash Receipts (aka payments) Service Central Staff Site Sales Transactions Debit Memos Credit Memos Orders (Full & Simple) Registrations Dues Payments Donations
Keys To Success Setup options Module Setup Default Settings Default Accounts Aging Batch Control G/L Interface Credit Card Authorization General Lookup Tables
AR/Cash>>Set up module Multiple Entities CC Types Order Processing Options CR/DB Write-offs Purge Information General
Credit Card Data Advanced PCI Compliance Maintain Audit Log when cardholder information is accessed. Stores encrypted credit card data in imis Do not retain cardholder information (requires a purge). No credit card info in imis Have to contact customers for credit card number for refunds
DB Maintenance Options - PCI Backup imis! Stop imis Application Pool in IIS to prevent any updates Purge All Cardholder Information If using deferred authorization this will purge all data so resolve those transactions first Reset Encryption Key & Data Can take several hours Remove Historical Encryption Keys Recycle/Restart AppPools
Default Accounts AR/Cash>>Set up module>>default Accounts http://docs.imis.com/20.2/?_ga =1.120022408.1482168566.1 428934388#!defaultaccountsw indow1.htm
Aging Sets aging groups for Trial Balance Report Set Default Terms Set up Terms first! Includes messages that print on standard statements
Batches Batches are just buckets for transactions Types: Operator Assigned Auto-number Auto-date Require Balanced Batches Batch Date = Transaction Date This is what you use to balance your deposits/paypal
Set default batch report If you re not using the Crystal Batch Report change it! Utilities>>Report Specs Highlight AR-BatchControlPrint- Batch Report (Crystal) Click Clone Tab to Title field and enter a. (period) before title Click Save to make default
Staff Site Setup Commerce Settings Staff Site>>Settings>> Commerce>>General - Email receipt template - Default Currency Code - DataVault options for AutoPay and Recurring Donations - Batch Settings
Staff Site Batch Options Staff & public transactions in the same batch Separate batches for staff and public Individual batch for each staff person Each is a per day setting Batch creation/selection is automatic Need due-to/due-from setup for multi-entity
Configure the GL Interface Validate GL Accounts Forces use of GL_ACCOUNT general lookup table for entry of GL account codes throughout imis GL Interface Type Summarize by Month, Day, Batch, Detail Output file path/name Location of file exported AP Refunds must have REFUND in your key Creates export file for vendor records (who the check goes to)
Using Special Characters in File Path/Name Special Characters Allowed? increments the name of file for each export. Adds a number to each file name # - creates a separate file for each entity. Appends the ORG_CODE to the file name You can use? and # together if you re using multi-entity
What s Supported? Supported ACCPAC for Windows Fundware Great Plains Dynamics Great Plains Enterprise (CS+) MIP Non Profit Series MAS90 (Sage) Peachtree for Windows Quick Books Pro Solomon IV SQL Financials Great Plains Dynamics Not Supported Access Accounts Accounting Vision AccPac Plus (DOS) Business Works Deltek Exact Great Plains DOS Macola Peachtree MAC Platinium for Windows/SQL Sage Sterling SBT Solomon III Solomon III Betrieve
Generic General Ledger Conversion Program For use with unsupported softwares Download generic from ASI Modify with Visual Basic Save and test http://docs.imis.com/20.2/#!genericgeneralledgerconversi onprogram1.htm
Credit Card Authorization Setup payment authorization accounts Select Gateway Type Set to Immediate Authorization Host URL Payflowpro.paypal.com live and test transactions Pilot-payflowpro.com test transactions only If using a different Account Code update web.config VERISIGN,PaymentTech,PAYFLO WPRO,PayPal are defaults
AR/Cash>>Set up tables Products AR/Cash products do not maintain inventory Terms set at least 1 default Tax Codes set tax codes if needed Cash Accounts Setup each payment method Assign CCAUTH account Due To/Due From if using multi-entity Set up AutoPay Payment Gateways If licensed for AutoPay Payment Method Sets Can be set here or in Staff Site
Staff Site Payment Method Sets Controls what payment types are accepted for staff and public sites AR/Cash>>Set up tables>>payment Method Sets OR - Staff Site>>Settings>>Commerce - Same setup from either location - Set Display Name and Payment Method (cash account)
Payment Method Sets Staff Public
GL_ACCOUNT General Lookup Table Customers>>Set up tables>>general lookup/validation Import all of your account codes 3 Column Text File: Code>>(blank)>>Description Use Import button to import.txt file Provides lookup for assignment of GL accounts Make sure all products have a GL account code assigned Default Accounts Dues Products Event Functions AR/Cash and Order Products Fund Raising Distributions
Recording Payments Cash Receipt/Sales Transaction Records Payments Can record negative (reversing) payments Can do credit card refunds Orders/Registrations Cannot enter credit card payments in Orders or Events Must use Service Central or Cash Receipts Or the Staff Site! After-the-fact sale No invoice Does not effect inventory
Deleting Transactions When is it OK? OK to Delete Check Payments For cash dues be sure to adjust paid through dates (Status and Billing tabs) For orders delete just the payment to leave order in tact. Deleting entire order cancels the order leaving a credit balance Same-day desktop credit card payments Not OK to Delete Staff Site credit card payments Already exported to the GL Different day desktop credit card payments
Credit/Debit Memos Credit Memo reduce AR Reduce line item, correcting overcharge Reverse a transaction For Full Order Entry do in Orders not AR/Cash Debit Memo increase AR Increase or add line item to correct undercharge Zero out credit balance For Full Order Entry do in Orders not AR/Cash
Transferring Credits - *TAB When you need to transfer a credit from either one transaction to another or from one ID to another use *TAB From any payment screen enter *+TAB in the Check/CC field to select open credits Select credit and apply desired amount Only available in desktop/aac
Service Central One Stop Shop! Register Order Pay Dues Donate One payment for multiple transactions
Walkthrough
AR/Cash>>Manage Batches Desktop must select Cash Table Batch Date is transaction date even if you do it a different day You will see Batch is Out of Balance error when Control Amt. and Actual Amt. are not the same All batches still have to be posted in the Desktop/AAC Balance to deposits and PayPal Once balanced POST IT! Manage Batches
Staff Site Viewing Batches Commerce>>View Batches Can only view open batches Click Batch to view batch summary, detail and access reports Reports include: Print Summary Print Details Print Summary by Payment Method Print Details by Payment Method
Month-End Procedures Create GL Journal Credit Invoices (check refunds) Credit/Debit Write-Offs Deferred Income Records Not just for month-end Use these features they help keep things clean!
Create GL Journal The General Ledger Interface What does it do? Exports files out of imis for import into your accounting system Eliminates double-entry Summary level journal entries imis maintains the detail! Must have FSI in your imis license key
Run the GL Interface Review and post batches Only posted batches that haven t been exported will export AR/Cash>>Process Month-End Procedures>>Create GL Journal Enter date range Only exports transactions that haven t been exported File(s) exported to location in GL Interface setup
Refunds Check Refunds aka Credit Invoices Be sure to set Refund Clearing default account Credit Card Refunds Must enable Allow Non-Referenced Credits on your PayPal account. AP Refunds Module Must have REFUND in your imis license key What it does: creates an export file for vendor records in your accounting system (who to write checks to) File is created when you run the GL Interface
Performing a Check Refund AR/Cash>>Process Month-end Procedures>>Credit Invoices Loads list of all credit balances in imis Mark items for refund Click Issue Refunds Cannot be undone Invoice Refund List is backup Check is cut from accounting system
What does it look like after? From Customer record on AR/Cash tab: Batch Detail:
Credit Card Refunds Where can I do them? AR/Cash Billing Service Central Enter Pay Amount as a negative and apply to open credit Must have Allow Non- Referenced Credits option enabled on your PayPal account
Same Day Credit Card Transactions Credit card transactions entered in the desktop can be deleted same day as if they never occurred. Desktop credit card transactions appear as SALE on PayPal Staff Site credit card transactions cannot be deleted Staff Site credit card transactions appear as Authorization and Delayed Capture/Void
Write-offs Clears uncollectible balances Can be debit or credit balances Be sure to have Writeoff/Offset default account set AR/Cash>>Set up module>>default Accounts
AR/Cash>>Process Monthend Procedures>>Credit/Debit Write-Offs Click Edit and select Debit or Credit Balances Enter Amount Click Load List Mark Items for write-off Click Write Off Cannot be undone Performing a Write-Off
What does it look like after? From Customer record on AR/Cash tab: Batch Detail:
Deferred Income For creating initial deferred income balances Set deferred and income accounts Beginning period Term Original and remaining amounts Remaining amounts will transfer during GL Interface process
Desktop Reports AR/Cash>>Generate Reports Account Status Trial Balance (Crystal) Shows all open credit and/or debit balances AR/Statements (Crystal) Tip: Set Crystal version of Trial Balance and AR/Statement as default in report specs and those will print from AR/Cash tab in Customers Same as setting Batch Report default
Desktop Reports Generate Reports>>Credit Card Credit Card Authorization Audit Credit Card Post Authorization Report Debit Card Post Authorization Report (EU) PayPal Reconciliation Report For PayPal Express Credit Card Reports Deferred Pre-Authorization Only use in non-live credit card authorization Submit Deferred Authorizations Print Credit Card Reconciliation Report Select batch number Shows unencrypted credit card numbers
Desktop Reports Deferred Income Analysis Spread Audit Trail Detail Report Matrix Summary Select Crystal Options Transaction Lists Distribution Summaries Distribution Detail Transactions Batch Distribution Summaries
Desktop Reports VAT Distribution Detail Distribution Summary Exempt & Zero Rated Distribution All are Omnis Reports
IQA What Business Objects Should I Use? csinvoice Invoice data csorders Orders data csregistration Registration data cssubscriptions Dues data current csdueshistory Dues data - past InvoiceSummary high-level invoice data TransactionDetail Trans table data TransactionSummary Trans table data csdonations Fund raising data
AR Payment Importer Pays open items / doesn t create new ones If used for dues must be accrual needs an invoice number to pay Lockbox situation Overpayments create open credit balances Required Fields ID Amount Invoice Number If Cash Application Auto Apply is not enabled in AR/Cash>>Set up module
Creating the File Tab or comma-delimited file Batch Header (required) PAY Record (payment detail) http://docs.imis.com/20.2/?_ga=1.81118871.1482168566. 1428934388#!usingimisarimporter.htm
Walkthrough
AR/Cash Security Levels 1 Enter/Edit Transactions 2 Generate Reports 3 Manage Batches (cannot post) Can only edit your own batches 4 Post and Edit Batches Process Month-End Procedures 5 Set up tables 8 Set up module Credit Card Reports
Thank you for your time! Laura Tidquist ltidquist@atsol.org