the abc’s of accounting beginning accounting st louis / april 2007 presenter: kathleen graw

The ABC’s of AccountingBeginning AccountingSt Louis / April 2007

Presenter: Kathleen Graw

Why do you care what I have to say?• I’ve worked in a Johnstone operation for 9

years, 11 months, 27 days…• I’ve been a Database user for 9 years, 11

months, 13 days…• I’ve been teaching DST classes for over 4

years…• I’ve been a DST consultant for accounting

related jobs & issues for over 3 years….• I have a Bachelor’s & a Master’s Degree from

Texas Tech & California State Universities…• I think I am smart and I like to hear myself

talk…

Class Objectives:

•To expose you to as many facets of the DST accounting package as possible.

•To demonstrate as many of those features as possible.

•To facilitate an exchange of ideas between users.

Ground Rules:• PLEASE ask questions – I don’t mind being

interrupted.

• NO question is stupid.

• Please keep questions relevant to the group as a whole.

• “Can it be done” versus “Should it be done”?

• MY way isn’t the ONLY way.

Class Structure:

-We have A LOT of ground to cover and FOUR hours just SEEMS like a long

time.

-Tried to give you as many screenshots as I could to cut down on your note taking.

-One break at halfway point (15 minutes)

Laying the Groundwork for the next FOUR hours….

Debits and Credits:

Account Type Debit Credit Normal Account Balance

Assets Liabilities Owner's Equity Revenue Expense

Increase Decrease Decrease Decrease Increase

Decrease Increase Increase Increase Decrease

Debit Balance Credit Balance Credit Balance Credit Balance Debit Balance

System Modules

YOUR System

Accounts Payable – Close is dependant on the user. Can post to future periods.

General Ledger –Close is dependant on the user. Multiple GL periods can be open at the same time; however, can only run statements for current period.

Accounts Receivable -Close happens on the last day of the month. Only one AR period can be open at a time.

How it all ties together...

Menu 12

Menu Path Focus

Menu 12.2.2

DemonstrationRequired, Default, Stops

Menu 12.2.2.2

Menu 12.2.2.2

Menu 12.2.2.3

Menu 12.2.2.4

Menu 12.2.2.5

Menu 12.2.2.6

Menu 12.2.2.7 & 12.2.2.9

Nashvill

e, April 2006

Menu 12.2.2.8

Menu 12.2

12.2.15 NSF Maintenance

Bank CallsBank Calls Notify CustomerNotify Customer System AlertSystem Alert

First Notification of a Bad Check is usually because your Banker calls…

You then need to notify your customer and determine method of restitution…

Staff AlertStaff Alert

Accounting Adjustment

Live Demo –

12.2.15

Demonstration

Menu 12.2.15

Most Common NSF Adjustments

Re - open Original Invoice (s) Invoice in Order Entry

AR Adjustments

Off System Handling

Combination

R/C

Demonstration

Menu 12.4

Menu 12.4.1

Menu 12.4.1.2

Menu 12.7 - Demonstration

Menu 35

Menu Path Focus

Menu 35.7

Menu 35.8

Questions?

For some reason vendors expect to get paid….

Menu 13

Menu Path Focus

Menu 13

Menu 13.20

AP Flowchart

Steps to Voucher Expenses

Batch created in 13.20.1

Sequential Voucher Register 13.20.5

Hand check Register (if applicable)In 13.20.6

Expenses Vouchered

Expenses Vouchered

Demonstration

Menu 13.20.1

Menu 13.20.1

Steps to Voucher Merchandise

Batch created in 13.20.2

Sequential Voucher Register 13.20.5

Hand check Register (if applicable)In 13.20.6

Merchandise Vouchered

Merchandise Vouchered

Demonstration

Menu 13.20.2

Menu 13.20.2

Steps to Voucher Corp (DC invoices)

Batch created in 13.20.3(Match receivers to invoices 13.20.14)

Sequential Voucher Register 13.20.5

Hand check Register (if applicable)In 13.20.6

Merchandise Vouchered

Merchandise Vouchered

Demonstration

Matching Corp Invoices13.20.1413.20.15 – view or print

Menu 13.20

Menu 13.20.3

•Maintain – 13.20.1 (open or closed batch)

•Delete – 13.20.18 (closed batch)

Vouchering

Reports 4. Open Batch Listing – Screen or Report 5. Sequential Voucher Register – Verification and Finalization 6. Daily Hand check Register – Hand checks only 7. PO Receiving not yet vouchered – EOM Journal Entry27. Clear Open Receivers – Remove receivers from report.

Menu 13.20

Menu 13.2

13.2.1A. A/P Summary Payment Schedule –

Summary of 13.2.1

13.2.2 Scheduled Cash Disbursements

End date specificSame output as 13.2.3

Disbursements Reports

13.2.2 & 13.2.3

Check Run Process

1. 13.2.3 or 13.2.4

2. Review printout, approve items for printing

3. 13.2.6 or 13.2.6a

4. 13.2.7 (Rolls from 13.2.6/6a)

1. 13.2.11

2. 13.2.7

3. 13.20.6 (if applicable)

4. Must also delete voucher if you don’t want it paid on future check runs (13.20.18) unless it is a hand check.

Check Reversal

Demonstration

Menu 13.2.11

Menu 13.2.11

8. Activity Report – Summary of Deposits, Disbursements, Adjustments and Journal Entries

9. Reconciliation Entry – Input of Checks cleared on last bank statement. Enter as a range or individually.

10. Reconciliation Listing – Itemization of checks entered in 13.20.9 as well as outstanding checks and outstanding checks greater than 90 days.

Bank Reconciliation

Demonstration

Menu 13.2.8

Menu 13.2.9

Menu 13.3

Menu 13.5

Demonstration

Questions?

Collecting the money customers owe you…

Menu 4

Menu Path Focus

Menu 4

Menu 4.1

Demonstration

Menu 4.1.1

Menu 4.1.1

1. 4.1.1 – Post Cash

2. 4.2.8 – Batch Listing

3. 4.2.1 – Cash Listing

Cash Posting Process:

• 4.1.2 – AR Adjustments

• 4.2.2 – Adjustment Listing

AR Adjustments:

Demonstration

AR Records Split

30/60/90

Menu 4.1

Menu 4.1.2a

Menu 4.1

Menu 4.1.9

Demonstration

Menu 4.1.9

Menu 4.1

Reopen AR items

4.1.12

*need AR adjustment before

EOD*

Menu 4.1

Search Features

Checks & AB

Menu 4.1

Demonstration

Menu 4.2

Menu 4.3

Menu 4.4

To generate Dunning Letters the flag must be set in the Customer Master Maintenance, Menu 12.2.2.2, screen 2, field 8, to “Y”.

The aging parameters, set in Company Ageing Maintenance, Menu 12.1.9, will not affect the Dunning letter codes that are

generated in Menu 4.4.1. 

Dunning Letters:

1. Dunning Letter Updt to Cust.Det File  - Updates all customers with a past due balance to the next letter.  This update is not due date or period sensitive.  The letter code will change every time the report is run.

2. Dunning Letter Edit Report – A report of current account receivables, the Dunning Letter to print is indicated in the left column, LTR, letter 1, 2, 3.  A single asterisk “*”, indicates all three letters have been sent.  Two asterisks “**” indicate the Dunning Record flag is not set on the Customer Master Maintenance Screen, Menu 12.2.2.2 screen 2, field 8.

Dunning Process:

3. Dunning Letter Customer Maintenance – To manually adjust the Dunning Letter a customer is to receive, Line 1 may be changed to 1,2,3,4 or 5.

4. Dunning Letter Form Print – Print current Dunning Letters assign to Customers.5. Dunning Letter File Text Maintenance – Edit text on any Dunning Letter. 4. Dunning Letter Form Print – Print current Dunning Letters assign to Customers.

5. Dunning Letter File Text Maintenance – Edit text on any Dunning Letter.  

Dunning Process:

Demonstration

Collecting A/R at Counter

• Receive payment, enter invoice with message line and record payment received.

• Allow counter staff to receive and enter payment for prior days’ invoices

• Really helpful in remote stores so they can collect and make the deposit AND get the money on the account.

• EOD report: EOD Unapplied Cash Listing

Collecting A/R $ at Counter

Collecting A/R $ at Counter

Questions?

Collecting the money vendors owe you…

Menu 15

Menu Path Focus

Part enters warranty through a Credit Memo @ counter Reason Code is Warranty (#006) & Assign Warranty Tag

Report 15.1 will show all these parts – returned & not claimed

Menu 15

Unclaimed Warranty Report

To create a claim from parts in Warranty System – use 15.3Can also use 15.3 to view claims, reprint, unfinalize

Menu 15.3

Demonstration

15.7 & 15.8 are reports to track warranty before and after they are turned into claims.

Menu 15

Warranty Aging Report

15.9 – Should mostly be used as a research tool

Menu 15

Demonstration

Menu 15.9

Menu 15.9

Demonstration

Warranty Claims

Part Rtn’d

Review Warranty

items

Create Claims

• Customer brings Part back to the store.

• Credit Memo is issued in m1.2

• Use “Warranty” reason code to issue credit

• Assign a Sequence #

• Warranty Items need to be consolidated and turned into a claim.

• Run m15.1 to review items by vendor

• Review vendors’ warranty policies

• Determine viable warranty claims

• Issue Claim/Paperwork to Vendor.

• Use m15.3 to create the claims by vendor &/or by company

• Send paperwork and parts (if applicable) to vendor

Process to Create a Warranty Claim is simple…

Monitor

Aging

• Monitor the pending warranty credits.

• Use the Warranty Aging Report in m15.8 to make calls to vendors to get credit issued

Warranty Credits

Receive Part – close claim with 15.10

Receive Credit – close claim with 15.11

Demonstration

Questions?

Tying it all together.

AR Close (Last day of the month):Paperless (menu 16.5)

Email reports directly to accountant

AP Close (First day of the month):Not paperless…yet

AR & AP Closing

AR Key Reports

AR adjustment listAR write-offs

Customer Aging*Unclaimed Warranties Report*

Open Warranty AR Report*Inventory by Value Prefix*

Tax & Non Tax Jurisdiction Reports

*Key Figure

Expense Distribution RegisterAP Activity List – Open Balance*

*Key Figure

AP Key Reports

Questions?

Session Evaluations