QRG Accounting System Setup

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Purpose

The purpose of this quick reference guide is to step through the process of creating an Accounting System Setup record. The Accounting System Setup record is a junction record containing the name of the Financial Accounting System, and the Entity Default Natural Accounts, Default Departments, and Default Cost Codes. The intended audience for this document is System Administrators / Standard Users.

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Steps

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Step 1: Create a new Accounting System Setup record

To create an Accounting System Setup record, the following steps should be completed:

3. Click on the New button (see Figure 3).

4. Populate the following required fields to provide the base details of the Accounting System Setup record (see Figure 4):
   1. Accounting System
   2. Payroll System
   3. Active/Inactive - set to true
5. Click on the Save button (see Figure 4).

6. A new Accounting System Setup record is now created (see Figure 5).

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Step 2: Create Accounting System Setup Defaults

Once the Accounting System Setup record has been created, you will need to create the required Accounting Segments of record types Natural Accounts, Departments and Cost Codes (as required) to assign defaults to the Accounting System Setup record. For more information on how to create Accounting Segments for the record type Natural Accounts, please refer to the QRG Create Accounting Segments - Natural Accounts.

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Step 3: Assign Accounting System Setup Defaults

Once the Accounting Segments have been created, the Default Natural Accounts, as well as any Default Departments and Default Cost Codes will need to be assigned to the Accounting System Setup record. To complete the Accounting System Setup record, follow the steps below:

3. Select the Accounting System Setup record that you created in Step 1, and select Edit (see Figure 8).

4. Populate all the Default Accounts on the Accounting System Setup record as required (see Figure 9).

5. Tick the various Split by Dept checkboxes for Earnings PAYG, Earnings RCTI, Expenses, Allowances, etc, as required under the Department Defaults heading (see Figure 10).
6. Populate the Default Departments as required on the right hand side under the Department Defaults heading for each type of Split by Dept that is checked on the left hand side.
7. To split by Department, tick the checkbox Split Revenue by Department .
8. If a default Revenue Department is to be used, populate the Default Dept - Revenue field.
9. To use Cost Codes in the Payroll Journals and Accounting Invoices, tick the Use Cost Codes checkbox.
10. If a default Cost Code is to be used, populate the Default Cost Code field.
11. Click on the Save button (see Figure 10).

12. The Accounting System Setup record is now saved with the additional data (see Figure 11).

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Field Descriptions

Accounting System is the reference to the Accounting System that the General Ledger journals are to be posted to. Active/Inactive defines if the record is currently active. Default Dept - Balance Sheet defines a default Department to be used for any balance sheet journal lines. Default Account - Accrued Costs This field currently has no functionality, but will in a future release. This can remain blank. Default Account - Allowances is the field to hold the Default Natural Account of Allowances in the Cost of Payroll journal. Default Account - Deductions is the field to hold the Default Natural Account of Deductions in the Cost of Payroll journal. Default Account - Earnings PAYG is the field to hold the Default Natural Account of PAYG earnings in the Cost of Payroll journal. Default Account - Earnings RCTI is the field to hold the Default Natural Account of RCTI earnings in the Cost of Payroll journal. Default Account - Expenses is the field to hold the Default Natural Account of Expenses in the Cost of Payroll journal. Default Account - GST Paid is the field to hold the Default Natural Account of GST payments in the Cost of Payroll journal. Default Account - Leave Accrual is the field to hold the Default Natural Account of Leave Accruals in the Leave Accrual journal. Default Account - Leave Liability is the field to hold the Default Natural Account of Leave Liabilities in the Leave Accrual journal. Default Account - PAYG Liability is the field to hold the Default Natural Account of PAYG Liabilities in the Cost of Payroll journal. Default Account - Payroll Tax Expense is the field to hold the Default Natural Account of Payroll Tax Expenses in the Cost of Payroll journal. Default Account - Payroll Tax Liability is the field to hold the Default Natural Account of Payroll Tax Liabilities in the Cost of Payroll journal. Default Account Rounding/Suspense is the field to hold the Default Natural Account of amounts related to the suspense account or rounding entry in the Cost of Payroll journal. Default Account - STSL Liability is the field to hold the Default Natural Account of STSL Liabilities in the Cost of Payroll journal. Default Account - Super Expense is the field to hold the Default Natural Account of Superannuation Expenses in the Cost of Payroll journal. Default Account - Super Liability is the field to hold the Default Natural Account of Superannuation Liabilities in the Cost of Payroll journal. Default Account - WorkCover Expense is the field to hold the Default Natural Account of WorkCover Expenses in the Cost of Payroll journal. Default Account - WorkCover Liability is the field to hold the Default Natural Account of WorkCover Liabilities in the Cost of Payroll journal. Default Dept - Earnings PAYG is the field to hold the Default Department for PAYG Earnings in the Cost of Payroll journal when the Split by Dept - Earning PAYG checkbox is ticked. Default Dept - Earnings RCTI is the field to hold the Default Department for RCTI Earnings in the Cost of Payroll journal when the Split by Dept - Earning RCTI checkbox is ticked. Default Dept - Expenses is the field to hold the Default Department for Expenses in the Cost of Payroll journal when the Split by Dept - Expenses checkbox is ticked. Default Dept - Allowances is the field to hold the Default Department for Allowances in the Cost of Payroll journal when the Split by Dept - Allowances checkbox is ticked. Default Dept - Super Expense is the field to hold the Default Department for Super Expenses in the Cost of Payroll journal when the Split by Dept - Super Expense checkbox is ticked. Default Dept - Leave Accrual is the field to hold the Default Department for Leave Accrual in the Leave Accrual journal when the Split by Dept - Leave Accrual checkbox is ticked. Default Dept - WorkCover Expense is the field to hold the Default Department for WorkCover Expense in the Cost of Payroll journal when the Split by Dept - WorkCover Expense checkbox is ticked. Default Dept - Payroll Tax Expense is the field to hold the Default Department for Payroll Tax Expense in the Cost of Payroll journal when the Split by Dept - Payroll Tax Expense checkbox is ticked. Default Dept - Revenue is the field to hold the Default Department for Revenue in the Cost of Payroll journal when the Split Revenue by Department checkbox is ticked. Default Cost Code is the field to hold the Default Cost Code in the Cost of Payroll journal when the Use Cost Codes checkbox is ticked. Split by Dept - Earnings PAYG (checkbox) is used to define if the Cost of Payroll Journals should be split by Department for PAYG Earnings. Split by Dept - Earnings RCTI (checkbox) is used to define if the Cost of Payroll Journals should be split by Department for RCTI Earnings. Split by Dept - Expenses (checkbox) is used to define if the Cost of Payroll Journals should be split by Department for Expenses. Split by Dept - Allowances (checkbox) is used to define if the Cost of Payroll Journals should be split by Department for Allowances. Split by Dept - Super Expense (checkbox) is used to define if the Cost of Payroll Journals should be split by Department for Super Expenses. Split by Dept - Leave Accrual (checkbox) is used to define if the Leave Accrual Journals should be split by Department for Leave aAccruals. Split by Dept - Leave Liability (checkbox) is used to define if the Leave Accrual should be split by Department for Leave Liabilities. Split by Dept - WorkCover Expense (checkbox) is used to define if the Cost of Payroll Journals should be split by Department for WorkCover Expenses. Split by Dept - Payroll Tax Expense (checkbox) is used to define if the Cost of Payroll Journals should be split by Department for Payroll Tax Expenses. Split Revenue by Department (checkbox) is used to define if Accounting Invoices should be split by Department for Revenue. Use Cost Codes (checkbox) is used to define if Cost Codes splits are to be used in the General Ledger. (This needs to be set as True for all customers and at least one Cost Cost segment needs to be set as the default Cost Code). Payroll System is the Payroll System the Payroll journal will be related to.

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Further Information