General Ledger Operations
AgVantage® Software National Conference
June 22-24, 2010
Rick Prinsen
General Ledger Operations
• Generating a Trial Balance & Transferring to
Excel
• Adding/Editing/Posting Journal Entries
• Entering/Adding/Posting Inventory Adjustments
• Allocation Setup
• Budgets
• Opening/Closing Fiscal Periods
• Creating New Fiscal Year
• End of Year Balance Roll
Transferring Trial Balance to Excel
Verify Trial
Balance will be
held in your
print spool.
4. Accounts Receivable 9. Setup File Maintenance 17. Print Override File Maint.
Transferring Trial Balance to Excel
Transferring Trial Balance to Excel
Page Down to Second
Screen.
Transferring Trial Balance to Excel
1. General Ledger
3. Report & Inquiry
1. Trial Balance
Generate Your Trial
Balance
Transferring Trial Balance to Excel
•
Double click on iSeries Navigator
on your desktop, or choose in
Start, All Programs.
•
Depending on your connection
this may take a few seconds to
load.
Transferring Trial Balance to Excel
•
In Right window click on Basic
Operations.
•
Next Click on Printer Output
•
This then loads your spool files from
the iSeries.
Transferring Trial Balance to Excel
•
Highlight the row that the User
Specified Data is GLS51T. This is your
trial balance
•
Hold down your left mouse button &
drag & drop to your Desktop. Close
the iSeries Navigator box.
•
On your desktop double click the icon,
this will open in Wordpad or Notepad
depending on the size of your file.
You can view this, attach to an email
or open in Excel.
Transferring Trial Balance to Excel
Adjust Columns
If you open in excel you’ll have to
Maintenance file 1st via Text Import Wizard
FINISH
Transferring Trial Balance to Excel
Adding/Editing/Posting Journal Entries
1. General Ledger
4. Journal Processing
1. Add/Change Journals
Adding/Editing/Posting Journal Entries
F6 = Add Batch
Batch Types
-GJ General Journal
-RJ Recurring
-RV Reversing
Adding/Editing/Posting Journal Entries
Enter the Following
G/L Posting Date
G/L Posting Month
Fiscal Year
Journal Code – Will Default to GJ
Adding/Editing/Posting Journal Entries
Adding/Editing/Posting Journal Entries
All Required Fields
Adding/Editing/Posting Journal Entries
Journal Processing Menu
Option 2 Print Edit of Journals
Option 3 Post Journals to G/L
Print and Check Edit
Before Posting Journal Entry
After you’ve verified your edit
Post Journal Entry to Ledger
Adding/Editing/Posting Journal Entries
Reversing Entries
New Batch will automatically
Create to next posting period
Edit this batch verify totals
then Post.
Entering/Editing/Posting Inventory Adj.
Entering/Editing/Posting Inventory Adj.
Acct. to be adj.
A
Beginning Inventory Amount – leave blank prior months balance will be used
Ending Inventory Amount – actual value of inventory, may also enter qty
Actual – Enter A for actual when not calculating estimated margin %
Entering/Editing/Posting Inventory Adj.
Monthly Sales
$5,515.00
Margin 15%
Multiple Sales by
85%
Adj.Cost of Sales
$4,687.75
Monthly Cost of Sales $5,000.00
Adj. Needed
$312.25
Debit Inventory Account
Credit Adjustment Account
Entering/Editing/Posting Inventory Adj.
Entering/Editing/Posting Inventory Adj.
General Ledger Allocations
1st Verify Financial Statements are
Setup to Use Allocated Files.
Financial Reporting Menu Opt 1 Define Financial Reports
General Ledger Allocations
1. General Ledger
5. Financial Reporting
8. Add/Change G/L Allocation
Enter a 4 digit year to allocate
Enter General Ledger Number you Wish
To Allocate.
Keep in Mind Allocations
Are For Financial Reporting
Only and do not Post anything to
General Ledger.
General Ledger Allocations
Enter Location and General
Ledger you Wish to allocate
and the %.
Must = 100%
General Ledger Allocations
May Enter a Specific % for each
Period. Default % will be used if
Individual periods are not specified
General Ledger Allocations
Verify Report
All Periods Must
= 100%
General Ledger Allocations
General Ledger Allocations
Y if you want to convert all monthly
Percentages to the Default %
N if you entered different percentages
For the different periods throughout the
Year and want to use those for the new Fiscal Year.
Budget Control
1. General Ledger
6. Budget Control
1. Maintain Budgets
Budget Control
Enter Fiscal Year
Location Number
Account Number
Budget Control
Enter Budget Amount
Quantity
Debit/Credit
Note: If a Credit Balance
Budget Amount Must
Be entered as a negative
number
Budget Control
To Average an
Amount throughout
The periods enter in
The Budget Amount
And then Press F6
Will Average both Amount
And Quantity (if entered).
Budget Control
To Duplicate an Amount
Or Quantity Throughout
the Periods
Enter the Budget Amount
And Quantity
And then Press F7
This will duplicate the
Amount for all periods.
Budget Control
To enter/maintain for a
Specific period, tab
Down to the period and
enter the amount in the
correct column.
Debits are entered as a (+) number
Credits are entered as a (-) number
Budget Control
To Mark an Amount
Up/Down from Actuals
Or Budgets for any year
Use F15
Enter Fiscal Year
Actual / Budget
Percentage
Plus or Minus (added or subtracted)
Budget Control
Budget Forecast
Select Information
To print for the Budget
Forecast.
A series of pop-up windows
Appear.
Print all or one location
Fiscal Year
Account Type Selection
Budget Control
Budget Worksheets
Prints the Actual Budget
Worksheets
Budget Control
Used to drop ALL
Budget Records for
A Given Year.
Be Careful once you
Purge a Fiscal Year
It is gone.
It is not required to
Purge a budget year.
Recommend to keep
On file. Especially if
You wish to go back and
Compare Prior years.
Update Files for Financials
After you’ve entered
Your Allocations and
Budget amounts be sure to
Update Files for Financials
To reflect these amounts.
Opening / Closing Fiscal Periods
1. General Ledger
7. General Ledger Processing
1. Close/Open Fiscal Period
Fiscal Year ...... 10
Page Up/Down to
Select Period
Creating a New Fiscal Year
1. General Ledger
1. Master File Maintenance
7. Fiscal Year Control
Enter Fiscal Year You Wish to Create
Roll Balances to Next Fiscal Year
1st Verify all periods are closed for Fiscal Year you’re
closing.
2nd Verify New Fiscal Year is Created.
Roll Balances to Next Fiscal Year
1. General Ledger
7. General Ledger Processing
2. Roll Balances to next Fiscal Year
Balances May Be Rolled Multiple Times
General Ledger Operations
Questions?
General Ledger Operations
Thank you for attending.