GENERAL LEDGER SOFTWARE PROCEDURES

SPECIAL JOURNALS

These procedures provide additional instructions for use with those homework problems, that require the entry of the accounting transactions in a Special Journal, using PASS Software.

1. The first action is to enter the posting process by clicking on the "Journal" toolbar button in the Main Toolbar Menu. The Purchases Journal appears highlighted first on the screen. The basic procedures for selecting General Ledger Accounts, using the "Chart of Accounts" button, is the same for Special Journals as used for the General Journal.

a. Click on the appropriate Special Journal button in the screen display and begin the transaction posting process. Refer to the following instructions for posting transactions to each of the Special Journals. As each completed transaction is posted, it is highlighted on the screen in the chronological order posted.

b. When a subsequent transaction requires a different special journal, simply click on the applicable Special Journal button and continue posting.

2. Purchases Journal. (Figure 1)

a. Only credit (on account) purchases are posted to the Purchases Journal. This is a multiple column journal with separate columns for specific accounts.

(Figure 1)

b. Key in the date of the transaction and then move to the appropriate journal column as follows:

(1) Specific Account Columns.

(a) If the transaction applies to one of the specifically named columns, click on that column to make the debit entry. Key in the amount. If more than one debit entry is required for a given transaction, enter each amount in the appropriate column.

(b) Click on the Vendor column. Notice that the Accounts Payable credit amount is automatically calculated and entered by the software program.

(c) Next, click on the down-
arrow button to the right of the Vendor column to display the Vendor List (see Figure 2). Select the appropriate vendor by clicking on that name.

(Figure 2)

(d) After all entries are completed and verified for a transaction, click on the "Post" button to record the transaction.

(2) Other Accounts Columns.

(a) Columns 3-5 of the journal (see Figure 3) are provided for entries pertaining to accounts other than those with specific columns in the journal.

(b) Click on the Acct. No. column, then click on the "Chart of Accounts" button

in the lower right-hand corner of the screen.

(Figure 3)

(c) Click on the appropriate account for the debit (or credit, as appropriate) entry. The amount will normally be a debit entry. Click on the "OK" button to accept your selection. Note that the account number is recorded in the journal.

(d) Click on the Vendor column. Notice that the Accounts Payable credit amount is automatically calculated and entered by the software program and the account title appears below the journal window.

(e) Next, click on the down-arrow button to the right of the Vendor column to display the Vendor List (see Figure 2). Select the appropriate vendor by clicking on that name.

(f) After all entries are completed and verified for a transaction, click on the "Post" button to record the transaction.

(3) Figure 4 presents completed transactions illustrating the above types of transactions.

(Figure 4)

3. Cash Payments Journal. (Figure 5)

a. All disbursement
s are posted to the Cash Payments Journal. This is a multiple column journal with separate columns for specific accounts.

b. Key in the date of the transaction and then move to the appropriate journal column as follows:

(1) Accounts Payable Column.

(a) If the transaction applies to Accounts Payable, click on that column to make the debit entry. Key in the amount.

(b) Click on the Vendor column. Notice that the Cash credit amount is automatically calculated and entered by the software program.

(c) Next, click on the down-arrow button to the right of the Vendor column to display the Vendor List (see Figure 2). Select the appropriate vendor by clicking on that name.

(d) After all entries are completed and verified for a transaction, click on the "Post" button to record the transaction.

(Figure 5)

(2) Other Accounts Columns.

(a) Columns 3-5 of the journal (see Figure 6) are provided for entries pertaining to accounts other than Accounts Payable.

(b) Click on the Acct. No. column, then click on the "Chart of Accounts" button

in the lower right-hand corner of the screen.

(Figure 6)

(c) Click on the appropriate account for the debit (or credit, as appropriate) entry. The amount will normally be a debit entry. Click on the "OK" button to accept your selection. Note that the account number is recorded in the journal.

(d) Click on the Vendor column. Notice that the Cash credit amount is automatically calculated and entered by the software program and the account title appears below the journal window.

(e) If the transactions affects a subsidiary Accounts Payable record, then click on the down-arrow button to the right of the Vendor column to display the Vendor List (see Figure 2). Select the appropriate vendor by clicking on that name.

(f) If the transaction does not apply to a subsidiary record, then leave the Vendor column blank.

(g) After all entries are completed and verified for a transaction, click on the "Post" button to record the transaction.

(3) Figure 6 presents a completed transaction illustrating the above types of transactions.

4. Sales (Revenue) Journal. (Figure 7)

a. Only credit sales (on account) are posted to the Sales (Revenue) Journal.

(Figure 7)

b. Key in the date of the transaction and invoice number (in the Reference field if required).

c. Note that there are only two amount fields (revenue and accounts receivable) Click on the revenue (i.e., Fees Earned) account column and key in the amount.

d. Click on the "Drop List" button on the right side of the Customer display box, then click on the appropriate customer name in drop list (See Figure 7 above for an example of a customer drop list). Notice that the Accounts Receivable credit amount is automatically entered by the software program.

e. Verify that entries are correct before proceeding. After all entries are completed and verified for a transaction, click on the "Post" button to record the transaction.

f. Figure 7 presents completed transactions illustrating the above type of transaction.

5. Cash Receipts Journal. (Figure 8)

a. All cash receipts are posted to the Cash Receipts Journal. This is a multiple column journal with separate columns for specific accounts.

(Figure 8)

b. Key in the date of the transaction and then move to the appropriate journal column as follows:

(1) Accounts Receivable Column.

(a) If the transaction applies to Accounts Receivable, click on that column to make the credit entry. Key in the amount.

(b) Click on the Customer column. Notice that the Cash debit amount is automatically entered by the software program.

(c) Next, click on the down-arrow button to the right of the Vendor column to display the Customer List (see Figure 7). Select the appropriate customer by clicking on that name.

(d) After all entries are completed and verified for a transaction, click on the "Post" button to record the transaction.

(2) Other Accounts Columns.

(a) Columns 3-5 of the journal (see Figure 8) are provided for entries pertaining to accounts other than Accounts Receivable.

(b) Click on the Acct. No. column, then click on the "Chart of Accounts" button

in the lower right-hand corner of the screen.

(c) Click on the appropriate account for the debit (or credit, as appropriate) entry. The amount will normally be a credit entry. Click on the "OK" button to accept your selection. Note that the account number is recorded in the journal.

(d) Click on the Customer column. Notice that the Cash debit amount is automatically entered by the software program and the account title appears below the journal window.

(e) If the transactions affects a subsidiary Accounts Receivable record, then click on the down-arrow button to the right of the Customer column to display the Customer List (see Figure 7). Select the appropriate customer by clicking on that name.

(f) If the transaction does not apply to a subsidiary record, then leave the Customer column blank (i.e., cash sales). See Line 2 of Figure 8 for an example.

(g) After all entries are completed and verified for a transaction, click on the "Post" button to record the transaction.

6. General Journal.

a. Occasionally, a few transactions do not meet the criteria for posting to a Special Journal. In these cases, the transactions will be posted to the General Journal.

b. Follow the instructions in the basic FMA General Ledger Software Procedures for posting to the General Journal. Leave the "Reference" field blank for these transactions.

7. Display/Print Journals.

a. Click on the "Reports" toolbar button, then click on Journals in the Report Selection Group window. (see Figure 9).

(Figure 9)

b. Print a copy of each of the listed Journals, following the procedures in paragraph 7c below.

(1) General Journal

(2) Purchases Journal

(3) Cash Payments Journal

(4) Sales Journal

(5) Cash Receipts Journal

c. Print each of the above journals as follows:

(1) Click on the appropriate journal in the Report Display window. Check to insure that the run date is correct, or change as necessary.

(2) Click on the "OK" button. The Journal Report Selection Menu will then appear on the screen.

d. Journal Report Selection. (Figure10)

(1) For most problems, you will click on "Include All Journal Entries" under the General Journal selection section.

(2) If you want to specify the date range, then click on "Customize Journal Report". In this case, make sure that the Start Date and End Date includes all entries desired in the report.

(Figure 10)

e. Click on the "OK" button to display the journal report. Then, to print the report, click on the "Print" button.

f. Click on the "Close" button to return to the Reports Selection Menu.

8. Display /Print Schedules.

a. Click on the "Reports" toolbar button and then click on "Ledger Reports" in the Report Selection Group. Produce the following schedules, using the procedures below.

(1) Schedule of Accounts Payable

(2) Schedule of Accounts Receivable

b. Print each of the above schedules as follows:

(1) Click on the applicable schedule in the Report Display window. Check to insure that the run date is correct, or change as necessary.

(2) Click on the "OK" button to display the schedule.

(3) To print the report, click on the "Print" button.

(4) Click on the "Close" button to return to the Reports Selection Menu.

c. Click on the "Close" button again to return to the Main Toolbar Menu.