Get the most out of 亿博电竞 GP by keeping up to date with new functionality. New and uncommonly used features in 亿博电竞 GP may offer more efficient alternatives to existing processes.
Integrating Payables Management with Fixed Assets
Link the fixed assets module with the payable management module to ensure all received assets are recorded. To utilize this, on the 亿博电竞 GP menu, click on tools, point to setup, point to fixed assets, and click Company. The Post PM through to FA checkbox should be marked. In addition, the require asset account checkbox should be marked.
The key to this functionality rests in the purchasing posting account, or trigger account. On the 亿博电竞 GP menu, click on tools, point to setup, fixed assets, and click purchase posting accounts. Click the lookup button next to the account number field to specify the GL account. The account listed here will be the trigger account to interface purchasing with fixed assets.
When entering the transaction in payables transaction entry, click on the distribution button. The trigger account must be keyed in the PURCH line and debit to the trigger account. Post the transaction in payables.
Now when you go to the asset general information window in fixed assets, the purchase button will show. However, first, you must enter the Asset ID and suffix, then click the purchase button and mark the checkbox for the purchases document. Click select to populate the asset general information window.
Multidimensional Analysis (MDA)
Analytical accounting provides the ability to add additional details to transactions without adding new segments to your chart of accounts. However, a little-known alternative called multidimensional analysis (MDA) offers an underutilized alternative. Analytical accounting does much more than MDA, but MDA still has its rightful place in our decision-making process. Consider a simple scenario: you want to know how much you spend on repairs by vehicle in your vehicle repairs expense account. This problem has simple requirements, so the solution should be simple as well. This scenario can be addressed with multidimensional analysis.
Multidimensional analysis allows users to keep their chart of accounts unchanged by adding tags to transactions. These tags, or dimensions, allow you to analyze data in Smart Lists, Excel, etc. A limitation is they cannot be reported in management reporter.
Multidimensional Analysis (MDA): Analysis Groups
Analysis groups group analysis codes. From the example above, the analysis codes will be the vehicle ID (Vehicle 1, Vehicle 2, etc.). Those vehicle IDs will be grouped together into the analysis group called “vehicle repairs”.
Multidimensional Analysis (MDA): Analysis Defaults
With analysis defaults, any time an account is used you will be required to enter an analysis code(s) that transactions relate to. Analysis default can also be set up to track quantities.
Analysis defaults define the GL Account you want to use with MDA, along with how you want to use MDA if that GL account is selected as a distribution line. Analysis Groups can be set to different “types”: Fixed, Required, Optional, or None.
Multidimensional Analysis (MDA): Using MDA
In the example shown below, a payable transaction for $1000 was entered for a travel company. Under distributions, the vehicle repair account that was linked to analysis codes was brought over. Based on this code, the system knows immediately that it is linked to analysis or MDA codes.
In this case, the GL Distribution account is one of the GL Accounts setup in your analysis defaults settings. Hence, you get an error if you do not assign an analysis code to the transaction.
To assign the analysis code from the distribution window, you can either use the view/analysis option on the ribbon or, with the correct GL distribution line selected, click the “A” icon in the scrolling window header.
This will then take you to the payables analysis posting detail window. This window is similar to the analysis defaults setup window, but the posting detail window looks for actual transaction details.
In the example below, VEHICLE REPAIRS are required for GL account 000-6410-02. You will need to add analysis codes to this transaction.
Multidimensional Analysis (MDA): Analysis Codes
Analysis codes can either be set up early in the process or on the fly during data entry.
In the example, both vehicles in the transaction must be selected. Notice that the totals match in the image below. The transaction is ready to be posted.
Multidimensional Analysis (MDA): Reporting
亿博电竞 GP has a multidimensional analysis Smart List available out of the box.
Powerful data is captured within these columns, allowing you to track non-GL level transactions and amounts.
Using Account Categories with Management Reporter
Account categories can be used to simplify management reporter reports. Account categories are groupings of General Ledger accounts that are reported on together, especially for financial statements. 亿博电竞 GP Financials provide 48 predefined account categories. Account categories cannot be deleted, but their descriptions may be changed. Unlimited account categories may be added for your reporting needs.
When you add accounts (financial > cards > account) you assign an account category. This account will be included in the totals for that category on reports run in 亿博电竞 GP.
Once account categories are added, they are available when creating your link to financial dimensions for use in rows, columns, and reporting trees. As you add new account cards with assigned categories to the general ledger, they will automatically be included on any existing reports where you have defined that account category as your dimension. This added benefit helps reduce the need to maintain report design.
Reconcile to GL Routine
Reconcile to GL is a powerful tool that greatly reduces the time it takes to find errors between trial balances in your subledgers (purchasing, receivables, inventory bank reconciliation) and your general ledger (GL). This tool can be found by clicking financial > routines > financial > reconcile to GL. Reconcile to GL is a troubleshooting tool only. It does not make corrections, nor tie to the historical aged trial balance (HATB). If your HATB matches your GL balance, there is no need to use the reconcile to GL tool.
Consider an example: you are trying to reconcile accounts payable to the general ledger and are off for the month. Reconciliation for payables has been set up as follows:
- The reconciliation date is 04/12/2017.
- The date range is 03/01/2017 – 03/31/2017.
- The module is payables management.
- The A/P GL is 000-2100-00.
Click the process button to run. This will cause two things to occur: a file will be saved to the location you chose for output, and the file will open in Excel format. The reconciliation number will increment on its own, without any need to enter something in that field. The file output is divided into three sections: matched transactions, potentially matched transactions, and unmatched transactions.
Matched transactions are those that 亿博电竞 GP has verified all the following:
- Payables management matches GL.
- The voucher number matches originating control number.
- TRX source matches originating TRX source.
- The posting date matches the transaction date.
- On account, the amount matches the debit amount or credit amount.
Potentially matched transactions contain transactions with most data points verified but may be missing verification for other data points. Items will commonly show up under potentially matched transactions when the discount amount differs. To avoid this, use the discount GL account as well as the regular A/P GL account.
Unmatched transactions are those that do not match any of the criteria. This could mean there is a transaction in purchasing but not on the GL, or there is an entry in the GL that does not match any transactions in purchasing. If your reconciliation is unbalanced, unmatched transactions are likely where your error is. Concentrate your efforts here to find reconciliation issues.
A good way to avoid mistaken postings to your master sub-ledger accounts (cash, accounts receivable, accounts payable, inventory) is to disallow posting to those accounts. This is done on the account card by unmarking the allow account entry checkbox.
All-in-one view (AIO) is an exceptional new feature that allows users to easily track the complete cycle for a transaction or group of transactions. It is available for purchasing, sales, and inventory in 亿博电竞 GP. With AIO, you can easily view all transactions related to a specific vendor in one window. For each vendor, you can view the PO, invoice, receipt, returns, credits, and other purchasing documents related to a transaction. This tool can be accessed from purchasing > inquiry > all-in-one view.
To use this tool, enter the vendor and select the document in question. Mark the checkbox in the upper left corner of the box. This will show all additional transactions affecting the document and hide all others.
If you’re new to 亿博电竞 GP and are interested in hands-on training, reach out to our team to inquire about upcoming classes.
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