When cash, checks or credit cards are posted into Profits Plus and the amounts go into the General Ledger account setup in the Automatic Interface in the G/L Module
General Ledger (Module 4)
System Management Functions (Task 32)
Setup Automatic Interface (Subtask 5)
Change Interface Parameters (Subtask 2).
Which systems do you with to interface to G/L?
- Y: Accounts receivable
- Y: Accounts payable
- ?: Payroll
ANY CHANGE ? N, press enter key
- Which systems do you with to interface to G/L?
- Change Interface Parameters (Subtask 2).
- Setup Automatic Interface (Subtask 5)
- System Management Functions (Task 32)
At this point the automatic G/L accounts will appear on the screen. The accounts to be concerned with are:
#1 A/R cash (in): 103-97 (the accounts used here are just examples)
#2 Credit Cards (in): 103-97
#4 A/R open: 115-97
Using these G/L accounts, the cash, checks or credit cards posted in the A/R Module will go into the G/L account #103-97-xx as a debit and a credit to 115-97-xx.
- The last two digits of the G/L account # are determined by an A/R Parameter, where all the cash and A/R from all divisions can go into one division’s GL account number for the Financial Statements. For this example, let’s assume it is division 01
Continuing, let’s say the G/L account #103-97-01 (AR/ Cash-In) represents a Wells Fargo bank account. This works fine for all of the divisions, however one division (i.e. division 11) doesn’t have a Wells Fargo bank near them to make daily deposits, so their deposits are made at a Bank of America. And continuing still, lets’ assume the G/L account for Bank of America is: # 103-11-01 (instead of the other divisions 103-97-01).
The checks, cash & credit cards from that one division (#11) are deposited into Bank of America, just like normal and they are entered into Profits Plus as usual. However, when all of the cash/checks/credit cards transactions are still in Cash/Receipts Entry & Editing (Task 2 in A/R), and before they are posted, another transaction needs to be entered. For the example, division #11 has deposited a total of $1,500.00 cash & checks dated 03/19/20xx. This is the additional transaction they will make to make:
Accounts Receivable (Module 2)
Cash Receipts Entry & Editing (Task 2)
Enter (ADD) new cash (Sub-task #1)
- 01 TRX number: press enter
- 02 Trx type: 7 or 8
- 03 Customer #: 99999 (The cursor will go to the bottom of the screen, enter a brief notation i.e. “Bank of America Deposit”.)
- 04 Recv date: 03/19/xx Use the same date the rest of the cash, checks & credit cards for this deposit have been entered into Profits Plus.
- 05 Division #: 01
- press Enter key until at Field #14
- 14 G/L act #: 103-11-01 (the G/L account for Bank of America)
- 15 G/L act $: -1,500.00 This amount will be a negative of the entire amount deposited.
- 16 & 17 press Enter key
- Enter (ADD) new cash (Sub-task #1)
- Cash Receipts Entry & Editing (Task 2)
Your cursor won’t go to the second screen.
This transaction will be a $1,500.00 credit to your automatic G/L account #103-97-xx and a debit to the account # in #14, 103-11-01. It will be on the A/R to G/L Interface. When the A/R to G/L Interface is obtained & posted into the General Ledger, the deposited amounts will be posted to the correct G/L accounts.
It is important to print (at least to screen) an edit list. The edit list and posting for the one division should have “Total Amount Received: 0” and “Total change to A/R: $1,500.00”. If this is correct you may post. Save the posting.
The $1,500.00 positive from the “Total change to A/R” on the posting should go onto you’re A/R Daily balancing spreadsheet.