1. General Ledger Training
Subsidiary Training
November 2005

3. General Ledger Training
Introduction
General Ledger Overview
Review the flow of information throughout General Ledger. Transactions from other series also flow into General Ledger.
Integration
Review the integration between the Dynamics series/modules. Information flows into General Ledger so it can be included on financial statements and other financial reports.

4. General Ledger Setup setup menu → financial setup → general ledger
Journal Entry Number
Journal entry numbers are assigned to every General Ledger transaction. The default starting journal entry number is entered here. The same journal entry number can’t be used twice in any open year. For example, if 1994 and 1995 are open and JE #1 is used in 1994, it can’t be used in 1995 until 1994 is closed.
Retained Earnings
Enter the Retained Earnings account after the chart of accounts have been entered.

5. General Ledger Setup setup menu → financial setup → general ledger
Maintain History
Account History is a record of account summary balances for historical years. Keeping Account History provides the option to print historical financial statements and calculate budgets from historical information.
Transaction History is more detailed and includes all transactions that have been posted to each account. Transaction History provides the option to print historical detailed trial balances and to zoom back to transaction detail for historical years.
Allow Posting to History
Marking this option allows transactions to be posted to a historical fiscal year. The Retained Earnings will be adjusted automatically. Transactions can only be posted one year back into history.

6. Account Categories setup menu → financial setup → category
Account Categories are assigned to posting accounts and the Account Categories. They are not used by Frx.
Descriptions can be changed, but that will NOT change the function of the category.

7. Posting Accounts Covered in Master Record Training

8. Posting Accounts Master Record Company Data Screen

9. Unit Accounts cards → financial → unit account

10. Unit Accounts cards → financial → unit account
Unit accounts track non financial quantities such as number of employees, square footage, or the number of customers with past due balances. Unit accounts can be used with Advanced Financial Analysis to create calculations on financial statements. They can be used with allocation accounts to allocate expenses.
Debit transactions increase the account and credit transaction decrease the account.
Decimal Places
Specify the number of decimal places to be used. This allows for more accurate calculations.
Year and Display Information
Once transactions have been posted to the account, period balances or the net change can be displayed based on any of the open years.

11. Fixed Allocation Accounts cards → financial → fixed allocations

12. Fixed Allocation Accounts cards → financial → fixed allocations
Fixed Allocation accounts are used to distribute a percent of a single transaction among several distribution accounts. When transactions are posted to the allocation account, amounts are distributed to the distribution accounts based on the percent that has been set up for the allocation account. The allocation account does not hold balances and won’t appear on financial statements. Even though the amounts of the transactions may vary, the distribution percent does not.
Distribution Accounts and Percents
Select the posting or unit accounts to which amounts are to be distributed. Distribution accounts can be posting or unit accounts, but they cannot be mixed. Then enter the percent to be distributed to this account. The percent entered for the distribution accounts must equal 100%.

13. Variable Allocation Accounts cards → financial → variable allocation

14. Variable Allocation Accounts cards → financial → variable allocation
Variable allocation accounts allow transactions to be distributed based on additional factors that may change over time, such as the number of employees or the physical size of the departments or divisions within a company. These additional factors are tracked by breakdown accounts. Breakdown accounts can be posting accounts, like sales or expenses, or they can be unit accounts, like the number of employees per department.
When transactions are posted to a variable allocation account, the total is divided among its distribution accounts based on the percentages determined by the breakdown accounts. The system will calculate the percentages based on the varying balance of each breakdown account.

15. Variable Allocation Accounts cards → financial → variable allocation
Based On
Indicate whether to calculate the percentages based on the year-to-date balance or the transaction period balance of each breakdown account.
Distribution and Breakdown Accounts
Select the distribution accounts to which transaction amounts will be posted. Next assign breakdown accounts to each distribution account.
The distribution and breakdown accounts can be either posting or unit accounts, but not a combination of the two. Distribution and breakdown accounts can’t be allocation accounts.
Liked fixed allocation accounts, the variable allocation accounts will not print on the financial statements. If the distribution account is a posting account, it will be included on the financial statements.

16. Budget Maintenance cards → financial → budget

17. Budget Maintenance cards → financial → budget
Use this window to create budgets for ranges of posting and unit accounts. An unlimited number of budgets can be maintained.
Password
A password can be entered to control access to a budget. This password would be required before a user will be able to view or modify the budget.
We will load the budget information from Excel, so we would make individual corrections only in this screen

18. Quick Journal Setup tools → setup → financial → quick journal

19. General Transaction Entry transactions → financial → general

20. General Transaction Entry transactions → financial → general
Standard Journal Entry: One time posting
Reversing Journal Entry: After the current entry is posted, a reversing entry is created for the next period
Recurring Entry: After posting, the same entry is created for next period. You can edit the amounts.
Batch Entry
Explain how to use the batch entry window to set up a batch in which to record the transactions. Batches are not used for transactions that will be posted at the transaction level.

21. General Transaction Entry transactions → financial → general
Transaction Entry Window
Use the Journal Entry note to add any notes that are specific to the transaction being entered. Note information will be available when zooming back on posted transactions. The Journal Entry number defaults from General Ledger Setup and will increment when a transaction is saved or posted. Journal Entry numbers can not be used twice in any open year.
Remember that debits and credits must equal before you will be allowed to post the transaction.

22. General Transaction Entry transactions → financial → general
Edit List
An edit list can be printed for transactions that are entered in a batch. An edit list can be printed from either the Batch Entry or Transaction Entry window by selecting Print... from the File Menu.
Post Transactions
Transactions can be posted immediately in transaction entry screen if not batch number is entered
Review where batches of transactions can be posted (Batch, Series, Master Post) and review how the settings on the Posting Setup window effect posting and posting journals.

23. Batch Entry Posting Transactions > Financial > Batches
Can post individual batches
Can check batch total before posting
Similar windows in other modules

24. Batch Entry Posting Transactions > Financial > Series Post
Can post individual batches
No batch totals on this screen
Similar windows in other modules

25. Batch Entry Posting Tools > Routines > Master Posting
Similar to series posting
Lists all modules

26. Batch Recovery Tools > Routines > Batch Recovery
If there is a problem with a batch during posting, you may need to recover it
Includes setup problems

27. Correct Push Button

28. Correct and Copy Push Buttons
Lets you back out a journal entry
Or lets you back it out and create a correcting journal entry
The audit trail is maintained in the general ledger for the original and back out journal entry
Similarly, you can also copy a journal entry and change it before posting

29. Clearing Transaction Entry transactions → financial → clearing
This window is used to transfer the current balance of one account to a different account. You can clear the year-to-date balance or just the period balance.
Posting or unit accounts can be cleared. A posting account cannot be cleared into a unit account or vice versa.

30. Quick Journal Setup tools → setup → financial → quick journal
Quick journals provide a method of time-saving journal entry in a batchless environment. Quick journals allow for one offset account and are most effective when the accounts remain constant but the amounts vary. A quick journal is a “template” for a transaction.
A quick journal may be used for monthly transactions such as utility expenses where there is one offset account (cash or payable) and multiple distribution accounts (utility expense by department or location).
Allow Override
Mark this to allow the user to change the offset account at the time of transaction entry.
Breakdown Allocations
Mark this to print the breakdown allocations on the Edit List and Posting Journal.

31. Quick Journal Setup tools → setup → financial → quick journal

32. Quick Journal Entry transactions → financial → quick journal
Because the transaction “template” was set up earlier, entering the transaction is quick and easy. The control balance is the transaction total. The distribution amounts must equal the control balance before posting will be allowed.
The offset account can be changed if Allow Override was marked when setting up the Quick Journal. Distribution accounts can be added or deleted, but this is not a permanent change. Permanent changes to the quick journal need to be made in the Quick Journal Setup window.

33. Quick Journal Entry transactions → financial → quick journal

34. Change and Delete Account Records
Posting or Unit Accounts
The account number cannot be changed.
The account can’t be deleted if one or more of the following statements is true:
it has a balance
it has activity
it has account history information
it has transaction history records
An account may be marked as Inactive if it has a zero balance (use a clearing entry to transfer the account’s balance to another account). Transactions cannot be posted to inactive accounts. Inactive accounts will be deleted during the year-end closing process.
Fixed or Variable Allocation Accounts
Because allocation accounts don’t carry balances, they can easily be deleted they will not be used in the future. If the account may used again in the future, mark it as inactive until it will be needed again. Transactions cannot be posted to inactive accounts.

35. Clear History utilities → financial → clear history
History can be maintained for as long as needed. History is cleared for an entire year at a time, however, a range of accounts for which history will be cleared can be specified.
Once history has been cleared, the Transaction and Account History reports cannot be printed, the audit trail reports for the dates or accounts ranges for which history has been cleared cannot be reprinted. Zooms from summary back to detail from the Inquiry windows will no longer be available.
Always make a backup before clearing history.

36. Reconcile utilities → financial → reconcile
The reconcile process resets account totals in the Chart of Accounts so they’ll match the transaction amounts of posted transactions. Previous years can be reconciled if keeping both account and transaction history.
The reconcile should be used if a system problem such as a power fluctuation occurs to be sure that the General Ledger data is accurate. The reconcile may also be useful if inconsistencies in reports are discovered or if fiscal periods have been changed.

37. GL Inquiry See Rapid Deployment
History Summary
This window is similar to the Current Summary Inquiry window except it shows historical year information.
History Detail
This window is similar to the Current Detail Inquiry window except it shows historical year transactions. Zoom capabilities also exist in this window.
Budget Summary
Use this window to view balances and budget amounts or net changes for current or previous periods. Certain users may be allowed access to this window to view information, but not allowed access to the Budget Maintenance windows where the figures can be changed.
Net Change
Use this window to view changes - the debit and credit amounts and overall net change - to the balance of a selected account for any of the open fiscal years. This window provides a “quick look” at the activity within an account without having to print a report.

38. General Ledger Reports
Cross-Reference Report by Journal Entry
This report includes the transactions posted during the period specified and is sorted by journal entry number. It is a replica of the posting journal and is commonly printed to re-create a posting journal that has been lost or misplaced.
Cross-Reference Report by Source Document
This report shows posted transactions sorted by source document and within each source document they are sorted by transaction date. This report can also be restricted by reference if you’ve posted detail from other modules to General Ledger.
Cross-Reference Report by Audit Trail Code
This report shows posted transactions sorted by audit trail code. This report is often printed to re-create a posting journal for a specific batch of transactions.

39. General Ledger Reports
Detailed Trial Balance
This report lists selected accounts and the transactions that affected the accounts for the accounting period specified. This report is valuable in reviewing the account activity for a range of accounts during a specific period.
Trial Balance Summary
This report lists selected accounts and shows the total of all debit and credit entries that have been posted to each account for the specified period. This report should be used to view account balances and how much they’ve changed over a period of time.
Trial Balance Worksheet
This report is simply a Trial Balance Summary that includes an area for adjustments for each account. These lines can be used for a variety of purposes, such as correcting information or noting adjustments for items such as expenses that haven’t been realized yet.

40. Period-end Procedures
There are no set fiscal period-end procedures for General Ledger. However, most companies do have certain procedures that they perform at the end of the accounting period such as printing financial statements and other financial reports.
Use the Routines Checklists to create a customized Period-end Checklist for your client. Routines that you may want to include are: Financial Statements, Trial Balance, Consolidate a Period, and Close the Fiscal Period. Once again, as far as the software is concerned, none of the procedures have to be performed. The period-end procedures you define should follow the business practices of your client.

41. Consolidate a Period Consolidate a Period THIS SHOULD NEVER BE RUN
Explain that this is optional. This will total transaction detail into a single summary transaction balance for each account that will be carried forward to the next period. A period should be consolidated only when detailed transaction information for that period is no longer needed. Zooms to detail and detailed trial balances will no longer be available for periods that are consolidated. A complete backup should be made before consolidating a period.

42. Close the Fiscal Period tools → setup → company → fiscal periods

43. Close the Fiscal Period tools → setup → company → fiscal periods
The period can be marked as closed to the Financial Series and transactions can no longer be posted to the closed period. Completing this is optional. If a fiscal period is marked as closed, and not consolidated, it may be reopened at any time to allow transactions to be posted to it. A trial balance can be printed for closed periods (that have not been consolidated) since the detailed transactions are still available.

44. Fix GL Accounts Prior to Year End Closing
We have written a special utility that should be run before year end close specially for AG

45. Year-end Closing Procedures
Overview
Transactions can be entered in General Ledger for the next fiscal year without closing the current fiscal year. The current year should be left open until all adjusting entries have been entered and posted to the correct periods.
Review what happens during the year-end closing process:
transfers all current-year information for each account to the account and transaction history files (if keeping history)
reconcile and summarize the General Ledger balances that have accumulated throughout the year
transfers current-year profit and loss amounts to the Retained Earnings account
zeroes all profit and loss account balances after they’ve been closed to the Retained Earnings account
summarizes balance sheet accounts, bringing the balances forward as the accounts’ beginning balances in the new fiscal year
prints the Year-end Closing Report

46. Year-end Closing Procedures tools → routines → financial → year-end closing
Select the Retained Earnings account to which the year’s net profit or loss will be closed.
You can also enter the starting journal entry number for transactions that will be posted in the new fiscal year.

47. Intercompany Master Setup Tools > Setup > AIT Setup > AIT Setup
IMPORTANT: Do not change the account segment names in account format in Great Plains or the Intercompany module will not work properly.

48. Intercompany Master Setup Tools > Setup > AIT Setup > AIT Setup
These are our recommended settings for the description settings for AIT

49. Intercompany Company Setup Tools > Setup > AIT Setup > AIT Company Setup

50. Intercompany Company Setup Tools > Setup > AIT Setup > AIT Company Setup
Intercompany module can split entries intercompany or intracompany
Intracompany would be within the coop database
You have to setup two sets of intercompany GL accounts
If you have more than one company in a database (ie: coop), there needs to be one unassigned company for use in intercompany accounts

51. Intercompany Accounts Tools > Setup >AIT Setup
Enter pair of accounts for each company
Offsetting entries made in other company’s general ledger

52. AIT Check Links File > Maintenance > AIT Maintenance (DDL Check Links)
If you add any accounts to an INTRAcompany, you MUST run check links, logged in as “sa”.

53. Intercompany GL Transaction Entry Transactions > Financial > General
Enter inter-company AJEs in AIT tab. Other AJEs enter in Standard tab.
The inter-company accounts are generated automatically

54. Intercompany GL Transaction Entry Transactions > Financial > General
Note that the Standard tab only has the Parent company portion of the AJE

55. Intercompany GL Batch Report Page 1 Transactions > Financial > General

56. Intercompany GL Batch Report Page 2 Transactions > Financial > General