TABLE OF CONTENTS

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1. How to create a GL Code

  1. Go to Settings ⇒ Accounting ⇒ G/L code Menu
  2. Click on the Green Plus Button to add a new G/L code.
  3. G/L code: Type in the new G/L code 
  4. Type: Select the correct type of G/L. e.g.Income, Expense
  5. Group: Same as Type when applicable
  6. Description: Enter a description of the G/L code.
  7. Sub: Enter if applicable or leave blank
  8. Acct. G/L code:  Enter if applicable or leave blank
  9. Checkbox for module settings: Choose the modules you want this G/L code to be shown in. 
    *Note: If you unchoose “active,” this G/L code would no longer be shown in either Deposit nor Payment modules. 
  10. Save.


2. How to edit G/L code

  1. Double click the billing code you want to edit.

  2. Rearrange the selection. (Type, Group, Description, Sub, Acct G/L Code, check/uncheck “Active”, "Deposit”, “Payment”)

  3. Click “Save”

3. How to create a Billing Code

  1. Go to Settings ⇒ Accounting ⇒ Billing Code Menu

  2. Click on the Green Button to add a new Billing Code

  3. Biling Code: Type in Biling Code

  4. Name(Eng): Type in a description of Billing Code 

  5. Name(Local): If needed, type in description in local language.

  6. Revenue/Cost/Credit/Debit: Map to the according G/L accounts.

  7. Checkbox for “Module Settings”: Check the modules you want this Billing code to be shown in. 

E.g. By clicking the O/IM box, you can access this billing code in the Ocean Import Module. See Diagram 2 below for detailed information.

Diagram 1


Diagram 2


4. How to edit Billing code

  1. Double click the billing code you want to edit.

  2. Rearrange the selection. (Billing Code, Name(Eng), Name(Local), Revenue/Cost/Credit/Debit, Checkbox of “Module Settings”, Active)

  3.  Click “Save”

5. How to create a New Bank

  1. Go to Settings ⇒ Accounting ⇒ Bank List

  2. Click on the Green Plus Button to set up a new Bank.

  3. Type in the Bank name. e.g. Bank of America

  4. Select the corresponding G/L code for the bank. e.g.10200

*Note: Each bank has its own G/L code. The default G/L code is 10200. To create a new G/L code, please refer to the guide “How to create a G/L code.”

  1. a. Revenue Default: Select this to default this bank in the dropdown list of the Revenue payment module.

  b. Cost Default: Select this to default this bank in the dropdown list of the Make Payment Module.

  6  Save.

 


Important : 

To ensure the correctness of the financial report, please set up different G/L code for each bank. 


6. How to Input Bank Beginning Balance

In this example, we will be loading initial balances into your primary bank.


Example 1: 

A simple entry of this transaction would look like:


Cash in Bank                        30000

Capital                                    20000

Retained Earnings                  10000

        

To do this in the system, follow the guidelines below.


  1. Go to Accounting ⇒ Journal ⇒ Journal Entry

  2. Click on the Green Plus Button to add a new line

  3. Enter the G/L code for your Capital(30100).

  4. Enter the amount crediting from Capital in the credit column.

  5. Similarly, enter the G/L code for your Retained Earnings.

  6. Enter the amount crediting from your Retained Earnings in the credit column.

  7. For the debit side, enter the GL code for the bank you want to make the deposit into.

  8. Enter the amount you are depositing to the bank in the debit column.

  9. Click Save.

*Note: Steps 3 to 8 are referred in the diagram below as 3 and 4

*Note: Please make sure that the date entered in the yellow highlighted box is a date prior to any transaction made in the system, if any.



To check if the amount is deposited into your bank, go to Accounting ⇒ Bank ⇒ Bank Book Balance.



Example 2 :

  1. Go to the left side main menu. ACCOUNTING => JOURNAL => JOURNAL ENTRY
  2. First Line: Add Bank G/L. Select “BANK” on TYPE, Input beginning balance in DEBIT.
  3. Second Line and after: Add Source G/L, Select “COMPANY”, input the amount in CREDIT.
    • RETAINED EARNING: the accumulated net income of years from the previous system.
    • NET INCOME: net income from this fiscal year if the system migration is during the middle of the year.
    • CAPITAL: the initial capital from the previous system.
  4. If it’s LOAN or CAPITAL from a specific company, select the trade partner under “TRANSACTION ENTITY”.

     5. Select the date, click “SAVE”