ClubConnect General Ledger Financials with Budgets, Ratios, and Memo Accounts

Transcription

1 Financials with Budgets, Ratios, and Memo Accounts Webinar Topics Budget Information on Financials... 3 Assign Budget Versions to the Financials... 3 Select Budget Formats for Financials... 4 Ratios... 9 Ratio File Maintenance... 9 Assign Ratios to Financial Statements Print Financial Statements with Ratios Memo Accounts Create Memo Accounts... 14

2 Add Memo Accounts to Financial Statements Memo Account Journal Entries Journal Master Numbers Memo Account Journal Entries Print Financial Statements

3 Budget Information on Financials Financial statements are made up of rows, defined in Financial Statement Maintenance, and columns, defined by the statement s format. Many of the formats in ClubConnect General Ledger include budget columns. To see budgets on a financial statement, be sure to print/view that statement using a format that includes budget columns. Assign Budget Versions to the Financials Before budget information is included on a financial report, it must be assigned to the financial reports. This is a quick, easy process and can be changed any time. Assigning a Budget Version to the Financials 1. From the menu bar, select Options, Master Files, Budgeting, and then select Lock in Final Budget Version. The Lock in Budget Version for Financials windows appears 2. Click the Budget Year up and down arrows to select a year. 3. From the Final Version drop-down list, select the budget version to appear on the financial reports. NOTE: This is not necessarily a final decision and does not lock in anything you cannot change at any time. 3

4 4. To assign the selected budget version for the selected year, click Save. A dialog box appears. 5. Click OK. 6. To close the dialog box, click the Close button. Select Budget Formats for Financials Default formats are assigned to each financial report when they are created in Financial Statement Maintenance. Those default assignments can be changed at any time, or the default format can be overridden when financial reports are printed. By selecting an alternative format when printing financial reports, the financials print using the alternative format columns. The default format is available for the next printing. Only financial reports assigned a format with budget columns display budget information. Changing the Default Format for a Financial Report 1. From the menu bar, select Options, Master Files, and then select Financial Statements. The Financial Statement Maintenance window appears. 4

5 2. Click the toolbar lookup icon to select a financial statement. 3. Click All Records. 4. Select the appropriate financial statement description. The setup for the selected financial statement appears. 5. From the Format drop-down list, select the desired default format for this financial statement. 6. Click the Save button to assign the new default format to this financial statement. 5

6 Printing Financial Reports with Overriding Formats with Budgets 1. From the menu bar, select Options, Operating Reports, and then select Financial Statements. The Financial Statement Printing window appears. 2. In the Select Reports to Print section, select a financial statement to print. 3. From the Cutoff Period drop-down list, select the appropriate period. 4. Select Override Format and from the drop-down list, select the desired format description. NOTE: This selection is to override the default format assigned to this financial statement for this printing only; the default format still resides in the financial statement setup and is applied the next time the report is printed. 6

7 5. Click Print, Preview, Drill Down, or Export to Excel. The selected overriding format dictates the columns on the resulting display or printout. 6. To print the report, click Print. 7. To close the window, click the Close button. 8. To close the Financial Statement Printing window, click the Close button 7

8 Use this table to locate Financial Statement formats that include budget columns. No. Statement Name Statement Description #13 Curr&YTD/TY-PY- Bud/An.Bud Shows current period this year, last year, and budget; year-to-date this year, last year, and budget; and annual budget #16 Curr[Bud/Act]-YTD[Bud/Act] #19 GL#\Bud&Act\Cur&YTD #21 Cur,YTD,This,Lst,Bud,Ratio #2 This Yr/Budget/Variance Shows current period budget and actual; and year-to-date budget and actual Shows current period budget and actual; and year-to-date budget and actual Shows current period and year-todate this year, last year, and budget; and also includes columns for ratios Shows current year-to-date actual and budget, and calculates both a dollar variance and percent variance 24 (no #) Bdgts 12 Mnth-Alwys-LSR-11 Shows only budgeted dollars in a period-by-period spreadsheet format 8

9 Ratios In ClubConnect General Ledger, the Ratio function allows you to include a percentage comparison analysis among accounts and/or subtotals in a report. Examples of typical comparisons include: Cost of goods sold expressed as a percentage of total sales A revenue source as a percentage of total sales Employee benefits as a percentage of total payroll Ratios are always presented as a percentage of a base, or reference amount, totaling 100%. Multiple sources can be combined to make up the 100%. You can place ratios on as many financial statement Detail and Total lines as desired. Ratio File Maintenance Use the Ratio File Maintenance feature to establish ratios and assign base accounts. Adding Ratio Files 1. From the menu bar, select Options, Master Files, and then select Ratio File. The Ratio Maintenance window appears. 2. Click the Add button. 3. In the Ratio Description field, type a brief description of the ratio. 4. In the G/L Account field, type the account number or click the lookup icon to select from a list of accounts. 5. Continue entering all of the accounts that contribute to the calculation of the total the 100% line. 9

10 NOTE: Be sure to include ALL of the accounts that make up the statement total line for the ratio. The G/L account numbers and descriptions appear in the grid as they are added. HELPFUL HINT: If you are not certain which accounts make up the total line for the ratio on a statement, view the financial statement setup. From the menu bar, select Options, Master Files, and then select Financial Statements. Click the toolbar lookup icon to select a financial statement. To preview the actual report, click the Print Preview. toolbar button and then click Include all accounts that feed to the total line representing the 100% on the statement. For example, for a ratio based on total sales, all accounts feeding to the Total Sales line should be included. 6. When you have finished adding all of the accounts to be included in the ratio, click the Save button. 7. Click the Exit button. 10

11 Assign Ratios to Financial Statements You can add each established ratio to any Detail or Total line on any financial statement. Adding Ratios to Financial Statements 1. From the menu bar, choose Options, Master Files, and then select Financial Statements. The Financial Statement Maintenance window appears. 2. Click the toolbar lookup icon. 3. From the list, select the desired financial statement. 4. Select a Detail or Total line to be included in the ratio. 5. Click the Ratio field. 6. Type the first letter of the ratio. A drop-down list of all the available ratios appears. 7. From the Ratio drop-down list, select the appropriate ratio. 8. Continue adding the appropriate ratio for all Detail or Total lines to be included in the ratio. The ratio is added to the financial statement. 9. Click the Save button. 10. Click the Exit button. 11

12 Print Financial Statements with Ratios Since ratios appear as additional columns on a financial report, if the default format does not include ratio columns, override the existing format and select one that includes ratio columns. Printing Financial Reports with Ratios 1. From the menu bar, select Options, Operating Reports, and then select Financial Statements. The Financial Statement Printing window appears. 2. In the Select Reports to Print section, select a financial statement to print. NOTE: If you select only one report, you do not need to change the Order column value. 3. From the Cutoff Period drop-down list, select the appropriate period on which to report. 4. If necessary, select Override Format and from the drop-down list, select the desired format description that includes ratio columns. NOTE: The selection to override the default format assigned to this financial statement applies to this printing only; the default format still resides in the financial statement setup and is applied the next time the report is printed. 12

13 5. Click Print, Preview, Drill Down, or Export to Excel. The selected overriding format dictates the columns on the resulting display or print out. Use this table to locate Financial Statement formats that include ratios. No. Format Name Format Description Cur, YTD, This, Lst, Bud, Ratio 14,CR,YD,Anul,Bd,VR-Wd ,CR,YD,Anul,Bd,VR-Lsr- 41 (prints on 8 ½ X 11 paper)- left side is Current Period: this year, last year, budget; right side is YTD: this year, last year, budget; all columns with additional Ratio column. (requires 8 ½ X 14 paper)- left side is Current Period: budget, this year, last year; right side is YTD: budget, this year, last year; all columns with additional Ratio column (prints on 8 ½ X 11 paper)- left side is Current Period: budget, this year, last year; right side is YTD: budget, this year, last year, also annual budget; all columns with additional Ratio column 13

14 Memo Accounts Memo Accounts are used to add valuable statistics to your financial reports. The statistics can be accumulated or averaged and follow the selected financial format. There are three types of memo accounts: Memo Whole used to accumulate or average whole number (zero decimal) statistics, such as golf rounds, meal counts, or guest counts. Memo Currency used to accumulate or average currency (two decimal) statistics, such as average price per meal, average price per golf round, or average price per tennis lesson. Memo Ratio used to accumulate or average ratio (one decimal) statistics, such as percentage of cost of goods sold to total sales, percentage of food revenue to total revenue, or percentage of employee benefits to total payroll. In your Chart of Accounts, memo accounts are unique in that they are not assigned ALICE codes. Each period, before printing financial statements, figures are entered through one-sided journal entries; the batch does not net debits against credits to zero like regular or allocation accounts. Create Memo Accounts You can add memo accounts directly to the Chart of Accounts. Adding a Memo Account 1. From the menu bar, select Options, Master Files, and then select Chart Of Accounts. The Chart of Accounts window appears. 14

15 There are two options available when adding new accounts to the Chart of Accounts. Insert key when a specific account line is selected and the Insert key is used, the new account is automatically added to all the financial statements containing the selected account. If the selected account is maintained on its own report line in an existing financial statement, then a new report line will be added for the new account being assigned. If the selected account is maintained with other accounts on a report line in an existing financial statement, then the new account will also be included in that existing report line. A blank line is added and the report information appears. 15

16 Add button when the Add button is used, a new account is created, but it is not automatically added to any existing financial statements. You must add this account to the appropriate financial statements manually. A blank line is added at the bottom of the list. 2. To add a new account, click Add or select a line and press the Insert key. 3. From the Type drop-down list, select the appropriate memo account type. 4. In the Account Number field, type a new general ledger account number. 5. In the Description field, type a description for the memo account. 6. From the Memo YTD drop-down list, select one of the following: Average calculates the average of all entries for this memo account. Accumulate adds all entries and stores a total of all entries for this memo account. 7. In the Department field, type the appropriate department. 8. From the Status drop-down list, select Active. 9. Click Save. 16

17 Add Memo Accounts to Financial Statements ClubConnect General Ledger allows you to tailor your financial statements by inserting statistics created through memo accounts. Adding Memo Account Statistics to Financial Statements 1. From the menu bar, select Options, Master Files, and then select Financial Statements. The Financial Statement Maintenance window appears. 2. Click the toolbar lookup icon to select a financial statement. The financial statement lines appear. 17

18 The left side of the window lists the printed report lines. Select a report line and the associated accounts appear on the right side of the window, in the Linked Accounts section. 3. To insert a new line in the report, select the line the new line should appear above. 4. Press the Insert key or right-click the line and select Insert Line. A blank line appears. 5. In the Type field, type the letter M. The Type drop-down list appears. 6. From the Type drop-down list, select Memo. 7. In the Description field, type the memo account description as it should print on the financial statement. This field can be left blank. NOTE: The length of the report description field varies according to the format selected. 8. Generally statistics appear with their true sign so do not select +/-. 9. To print a dollar sign, select the $ field. 10. In the Level field, assign a total level of to total memo accounts included in one or more lines of your report. 11. Click the Save toolbar button. 12. Click Add Accounts. The Account Selection window appears with all the accounts selected. 13. Deselect the memo accounts that do not apply to this memo line. 18

19 14. Click OK. The Financial Statement Maintenance window appears, showing the linked accounts selected for the memo line. 15. Click the Save toolbar button. 16. Click the Exit toolbar button. 19

20 Memo Account Journal Entries Before printing financial statements each period, memo accounts should be debited by posting one-sided journal entries. Journal Master Numbers Journal entry batches are posted under a journal master number. You may want a separate journal master number for posting transactions to memo accounts. Adding a Journal Master Number 1. From the menu bar, select Options, Master Files, and then select Journal Master. The Journal Master window appears. 2. To create a new journal description, click the blank row marked with an asterisk (*). 3. In the Source Number column, type the journal number for this type of journal transaction. NOTE: The Source Number can be letters, numbers, or a combination of the two to a maximum of 14 characters. 4. In the Journal Description column, type Memo Account Entries. 5. Click Save. 6. Click the Close button. 20

21 Memo Account Journal Entries Memo accounts should be posted before financial statements are run. Posting a Memo Account Journal Entry 1. From the menu bar, select Options, Data Entry, and then select Journal Entry. The G/L Batch File window appears. 2. From the G/L Period drop-down list, select the appropriate period. The most recent open period appears as the default. All existing journal entry batches from the selected GL period are listed. 21

22 3. Click New. The Batch Control Entry window appears. 4. From the Batch Type drop-down list, select Journal Entry. 5. In the Batch Date field, type the appropriate date for this batch. This batch reference date appears on reports and inquiries. 6. From the G/L Period drop-down list, select the general ledger period affected by this journal entry batch. This period is the accounting period in which the journal entry appears. 22

23 7. Click OK. The Journal Entry window appears. 8. Click the New button to start a new journal entry. The cursor appears in the Journal Number field. 9. In the Journal Number field, type a journal number or click the lookup icon to select a journal number. The Description field automatically populates based on the selected journal number. 10. In the Date field, type the reference date for this transaction. 11. In the G/L Account column, type the general ledger account number for this transaction or click the lookup icon to select an account number. 12. If necessary, overwrite the account description in the Reason column for explanation to GL Detail. 13. Click in the Notes column. 14. Click the Notes ellipsis button to type additional notes. These notes can be selected to print on the Detail Report. 23

24 15. In the Amount field, type the appropriate amount. The amount appears in the Amount and Debit fields. 16. When all accounts of the journal entry are complete, click the Save toolbar button. The journal entry is saved. 17. To continue adding new journal entries, click the New toolbar button and repeat the previous steps. 18. After all journal entries for this batch are entered and saved, click End Batch. The Post Batch window appears. 19. Click Print. The Journal Batch Listing dialog box appears. 20. From the Printer Location drop-down list, select the appropriate printer. 21. Click Print. The Journal Batch Listing report prints and the Post Batch window appears. 22. Review the Journal Batch Listing report and edit the entries, if necessary. 23. Click Post. 24. Click OK. 24

25 Print Financial Statements Once you have created your memo accounts, assigned them to financial statements, and posted journal entries, the memo account statistics appear on your financial statements. Printing Financial Statements with Memo Account Statistics 1. From the menu bar, select Options, Operating Reports, and then select Financial Statements. The Financial Statement Printing window appears. 2. In the Select Reports to Print section, select a financial statement to print. 3. From the Cutoff Period drop-down list, select the appropriate period. 25

26 4. Click Preview. The Financial Statements Preview window appears, showing your new memo account balances on the financial statement. 5. To print the report, click Print. 6. Click the Close button. 26