INTRODUCTION TO SETTING UP THE GENERAL LEDGER

 

 

 

The following steps should be taken to set up the general ledger in SkilMatch.

 

1. Design (but do not enter) general ledger account numbers (refer to document Menu GLMANT, Item Accounts.

 

2. Design (but do not enter) your financial statement tailoring (refer to document Menu GLMANT, Item Tailoring).

 

3. Enter company names (refer to document Menu GLMANT, Item Company).

 

4. Create and enter names for the cost centers (refer to Menu GLMANT, Item Cost Center Descriptions).

 

5. Enter general ledger account numbers for the balance sheet accounts and one cost center (refer to document Menu GLMANT, Item Accounts).

 

6. Use the system to create the additional cost center account numbers (Menu GLMANT, Item Copy Chart of Accounts).

 

7. Add and delete account numbers to the completed Chart of Accounts (Menu GLMANT, Item Accounts).

 

8. Enter financial statement tailoring (refer to document Menu GLMANT, Item Tailoring).

 

9. Set retained earnings numbers for current and prior year earnings (refer to Menu GLMANT, Item Retained Earnings).

 

10. Set group number for percentage calculations (refer to Menu GLMANT, Item Set Group).

 

11. (Optional) Establish consolidations (company and/or cost center) (refer to Menu GLMANT, Item Consolidations or Menu GLMANT, Item Division Consolidation).

 

12. Enter budget and/or prior year data (refer to Menu GLMANT, Item Budgets and Prior and Menu GLMANT, Item Duplicate Budget).

 

13. Activate budget and/or prior year data (refer to Menu GLMANT, Item Activations).

 

14. (Optional) Enter beginning balances (refer to documentation concerning ‘Beginning Balances in General Ledger’ in document Menu GLJOUR, Item Data Entry).

 

15. (Optional) Maintain valid posting periods for all SkilMatch accounting applications (refer to Menu GLMANT, Item GL Posting Periods).

 

 

 

SET UP THE RETAINED EARNINGS GENERAL LEDGER ACCOUNT

Once you have created account numbers in the Chart of Accounts, you must tell the system which accounts numbers are the Current Retained Earnings and Prior Retained Earnings.

 

The system will use these numbers to make internal calculations.

 

To begin, on the “General Ledger Master” menu, click [Maintenance].

 

 

The system will display:

 

 

Click [Retained Earnings].

 

The system will display:

 

 

Current:

Key the current year retained earnings four-digit account number.

 

 

Prior:

Key the prior year retained earnings four-digit account number.

 

 

(The screen will also display the current status of the budgets and prior Year files.)

 

When you are finished entering the account numbers, click [Accept change] and then click [Don’t change and Exit] to end the job.  You will return to the “General Ledger Maintenance” menu.

 

If at any time during this entry you wish to discontinue and not update the files, click [Don’t change and exit].  You will return to the “General Ledger Maintenance” menu.

 

 

To Modify A Retained Earnings Account Number:

You should not change the retained earnings account numbers if any transactions have ever been entered for those accounts.

 

If you wish to change a retained earnings account number that has never had transactions, re-enter this option, key the new account number over the old account number, and click You will return to the “General Ledger Maintenance” menu.