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Accounting

Introduction

This Module serves as the financial headquarters of the entire application.
Almost all financial transactions from various modules end up here. The General Ledger Accounts, Sub ledger Accounts Etc.
all defined here. Journal Entries are also done here either directly or from a defined template. There are
also specific sub-modules to handle special transactions such as payables, receivables, fixed asset transactions etc.

Chart of account

Chart of Account: a listing of accounts available in accounting system which stores records. The Chart of Account
(COA) in accounting consist of balance sheet accounts (Assets, Liability, equity) and income Statement Accounts (Revenue, Expenses,).
This summarize information forms the chart of account.

NB: To Stup Chart of Account for fresh / new user then you will have to export general organization’s chart eg.


from the export button

There will be a finished progress bar with excel exporting outside the system

then you will now come back to chart of
account again and this time arround click on import and browse to your save exported file

A. How to Define an Account.

Step 1.
You will click on Add as shown below with the red round circle at your left side;

Step 2. You will now have to define the account you wanted to define Eg. Asset libility Etc.

i. Click on Chart of Accounts on the Left Main Menu

ii. To create a New Account Click on ADD

iii. Type in the Account Number, Name and Description

iv. Parent Account: – If this account is a Parent
Account then check this checkbox. Parent Accounts are merely headers in the financial statements. Transactions cannot
be directly posted into them

v. Contra Account: – If this account behaves the opposite way as its account type is supposed
to behave then make check this checkbox. E.g. For a normal asset account an Increase is a Debit and a Decrease is a Credit but for an account like accumulated depreciation
which is also defined in the assets section an Increase is a Credit and a Decrease is a Debit hence the accumulated depreciation account can be described as a Contra-Asset
Account.

vi. Retained Earnings Account: – During Period Closure any outstanding balance sitting in the Net
Income Account is moved to the Retained Earnings account. An Organisation can have only one Retained Earnings Account. Direct Postings into this account
is not permitted.

vii. Net Income Account: – Again an Organisation can have only one Net Income Account and Direct
Postings here is also not allowed. This is where the difference between Revenue and Expense Accounts always sits.

viii. Has Sub-ledger Accounts: – Check this check box if this account is a control account
i.e. it must show on the balance sheet but cannot be posted directly into. All transactions contributing to its balance must come from the sub-ledger accounts defined under
this.

ix. Check the Enabled? Checkbox to Enable this Account.

x. Account Type: – Possible values are ASSETS, EQUITY, LIABILITY, REVENUE, EXPENSE

xi. Reporting Line No: – This is used in sorting the Accounts during Financial Statement Generation
within a Parent or Header Account. Lower Numbers always come first.

xii. If this is a child account then specify its parent account.

xiii. If this account is a sub-ledger account then specify its control account i.e. the account it reports/contributes to.

xiv. If Extra Information fields have been enabled then click on view extra information to provide the extra info else click on save.

xv. VIEW ACCOUNT TRANSACTIONS BUTTON: – When clicked this displays all the accounting transactions
that contributed to the current balance sitting on the account. This functionality can also be accessed by double-clicking on the account itself in the Left rhotable containing
the List of Accounts.

Also to search for all accounts in terms of Account Description/ Account number/ Account Name you can use the search for textbox and make sure Account Description/ Account number/ Account Name search in combo box.
You can also reset to reset all to the default.

Journal Entries

Accounting transaction: this is a business event having a monetary impact on financial statement of a business recorded in the accounting records of business. Eg. Sales in cash to the customers, paying suppliers bills/ acquiring property. Etc.
The pic above shows the image of the accounting transaction with all the balance legs both debit and credit.

transaction can be passed in so many ways; using a transaction template, transaction list; one on one transaction.
Note: transction passs can be edited, deleted if note being posted to GL

Passing transaction using the trans Template

a. Click on (ADD) as shown

then after you will now cick on ADD TRANS

i. A dilog box will then appear eg.

You will then after select pre defined template
and just specify the amount date and ref.numb. The Next four Tutorials will help you on how to create template

Passing transaction using the trans list

NOTE: you will have to click on ADD first, just the same way when passing transaction using the template Formate Eg.

ii. A dilog box will then appear eg.

You will then after type the parameters
with their appoproiate accounting increase or decrease with account numbers,specify the amount date and ref.numb.
Note: you can also import and export transaction. When passing the transaction you can also provide only on line discription
and just click on (click here to Create the balancing leg automatically Eg. ) the after you will click on save

When passing a transaction you can also attached an original document to the entry after the lines has been saved
Anytime you use any of our formate to pass entry, the entry will not impact your statment unless you post the
transation first. Eg. the long rectangle indicate the post button and the arrow also indicate the progress bar
you can also export and inport transation via excel NB: when passing your entry the system allows you to use
increase and decrease thenafter the system translate that into debit and create balances then you can post to impact your statement
there is another way of posting transaction automatically. the system will therefore post transaction from other
modules automatically, all manual entry should be posted by the account or the account administrator hom / her self.

Any transaction which has been already posted can be void and reposted. but any time you void a transaction you will therefore have to
post the negative voied transaction to reduce the positive one in the system to make the statement zero(0) or reduce by that amount

Passing Entry using the one on transaction.

This therefore means passing transaction one leg first and then the other leg. NB: on the same interface just click on
ADD ONE ON TRNS. a dialog box will appear Eg.
then after you will fill the parameters.
NB: here you will have work two times on a transaction inorder to create the balance leg for both sides
after filling the two parameters, just on post transaction to create accounting entry.

* Attaching Document to the batch created: you can also attached scan copies/copy of the batch u have created for easy references before posting the transaction

* The Exchange Rate: Rhomicom ERP also support online rate, which you can auto download rate from a trusted online webpage
This features also helps you to get the new rate in the market. NB: the Arrows below in the Fig indicate the new rate which u can also manually change them yourself

Petty Cash Vouchers

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This Sub-module was development to management all petty payment

how to create transaction using petty cash vouchers

1. go to Default Account eg

select petty cash from the arrow indication as default account for petty cash.

2Now click on petty cash vouchers

3To create a petty cash transaction, Click on payment if is re-imbursement, click on re-imbursement

4 Click on payment eg.

by default the system try to get you description which you can change or modify

5.select a payee name

6.Amount Details/Distribution. Click on Amount to drop the lines eg

specify the amount, NOTE: here the system try to do all the accounting for you by increasing and decreasing both the charge and balancing accounting legs you will only have to specify the correct charge account from the arrow indicated in the diagram. you can also drop more lines if you still have different line of transaction within the Pv number

7.Click on SAVE to save eg.

and then approve eg.

Once you approve the system will take you straight to journal entries for you to post your transaction

8.Cash Book balances eg
,

this displays your balances information the first is (Posted cash balance) that is transaction which has been posted to GL, normally your Posted cash Balance and Available cash balance should always be the save and unposted trns sum should also always be zero, if you see figures on unposted it means there transaction which has not been posted to GL, if you found that on you cash book dashboard, you right from your screen open GL batch eg.

you can also link to event, maybe the payment will be on an event, you can link to that particular event, meeting etc. eg.

Financial Statements

Financial statement indicate the financial position of the business.
Financial statements helps you to generate report on trial balance, profit and loss, balance sheet, sub-ledger,
Gl Account statement, cash flow statement, financial ratio Etc. Eg.

a. To run any kind of statement in Rhomicom ERP you will have to fill some basic parameters eg.


You will have to select a date for the particular financial statement you are running. As been indicated in the fig. above.

b. You can also shows all the zeros in the report from the fig. above

c. You can also limit to only account which defination during the account is (PARENT), by just
checking the summary check box just below the hide zero balance.

d. You can also show all bals/tms. Sum va.

e. Then you will generate you statement.

f. You can generate your report to excel for more reviews.

NB: during your statement you indicated some balances which are wrong due to audited statement. You can easily do this by passing journal entries
to correct that but also right from your interface where your trial balance was been run you just check that particular account by just click on the account
then you will click on adjust selected balances. this will also create accounting enteries. eg.




make sure after clicking on (SAVE IN TRANS BUTCH ) Click on post transaction for it to hit the GL interface, Then you will now have to go back and rerun the statement
again. the smaller fig. the middle indicate the audited amount / original amount tobe specified.

Budget

An estimate of costs, revenues, and resources over a specified period, reflecting a reading of future financial conditions and goals.
One of the most important administrative tools, a budget serves also as a (1) plan of action for achieving quantified objectives,
(2) standard for measuring performance, and (3) device for coping with foreseeable adverse situations.

Creating Budget in Rhomicom ERP.

a. Type in you budget name and budget descriprion

b. Then you will save.
NOT: you can add as many as budget you wish.

c. After saving you will then need to add you budget information.
Not: you will have to make sure that (IS THE ACTIVE) is been seleccted or checked.

d. You will have to then add your budget information by clicking on as shown

e. You will then ave to fill all the parameters. NB: you can also work from excel and import into the system using the rhomicom ERP excel formate / template

Transaction Template

This is where transaction are been define for Non accouting user to use create accounting enteris.

Steps in Capturing Transaction Template

a. You will click on Add as indicated above

b. Then you will fill in with your template name and description. Eg. Paying of E.C.G,
as known in an organization there are most likly transaction which is very common almost every month eg. ECG payment Etc.
With this then you can create a transaction template with the current accounting behind it.

c. After entering the name and description of the template, you will click on Save.
NB: you can always edit to modify.

d. You will have to continue to click on ADD with the header TRANSACTION DETAILS INFORMATION.

e. The next should be the details as in the accounting behind that payment weather increase or decrease in a particular account.

f. Then you will have to click Ok

g. Then you will have to ADD user to use that particular template with a start date and end that as well.
BT: transaction details should be captured twice (other should be the balancing leg to the other)

During journal we Thaught how to pass enteries using templates, This is how best you can create templates before you can use accounting journal enteries to select that particular template

Accounting Period

An accounting period is the span of time covered by a set of financial statements. This period defines the time range over
which business transactions are accumulated into financial statements, and is needed by investors so that they can compare the
results of successive time periods. Most Accountants prefers end of every year other monthly basis on their accounting policy with the company.

Steps in creating a new accounting period and opening them as well.

a. To create a new accounting period you must first be in edit mode before you can ADD new accounting period. NB: This Process is to
create accounting period details in PERIOD TYPE. The Period Type can be Monthly, Year, Quaterlly Semi Quaterlly ETC.

b. To start with, you will first have to click on edit as shown above with round indication.

c. Then you will click on ADD with the yellow indication.

d. You will have to enter the period name Eg. Sep-2015 or u can spell the month in full.

e. Period start date, this is normally the 1st day of that particular month.

f. And an end date as well. NB: start date and End date can be type or picked by the system, by clicking on the

three button as indicated above

g. Opening Accounting period.

h. You will only have to click on Open with the title change status.

Assets and Investments

this is one of the interesting way to handle all assets and it preventive maintainace. This module helps you keep reords of your asstes
without you creating them on your chart of account

How to create Assets using Assets and Investments

1.Click on ADD

2.You fill all the parameters, you may not necessary need all the filed to filled in some assets defination eg.

3.if you enable auto-depreciation then off cause you will have to provide depreciation/appreciation SQL formular using the SELECT Statement

NB: you can also attached document regards to the asset. the first form is basically asset information.

The next rhotab talks about Asset / Investment Accounting transaction

This is where we therefore record all enteries on the asset eg. Initial value of the asset/ Depreciation / Appreciation / Maintain / Retire / Sell. and therefore create accounting enteries right from here to journal entry

To perform any of the following enteries just click on it eg Maintain. Maintain in other words is caputering expenses against the asset.

One advantage of using this feature is (a)here record of entery is been keept for reference. and is very meaningful to who every interested

how to Maintain an Asset using the maintain rhotab/ BUTTON

1.click on maintain eg.

Anytime you click you click Maintain there is a defualt description and double accouting leg been provided already

The accounting lines you see are right from the main defination ofthe asset.

then after you will click on save and click create accounting, the create accounting will send all transaction to journal enteries for posting

Payables Invoice

Account payables is money owed by the business to its suppliers shown as a liability on the company’s balance sheet.
With payables Invoice presented by supplier can be created using this module and thereafter Account payables administrator
can process payment against that particular invoice(s). The Fig below indicate the payables interface

How to create a payables invoice in accounting sub-module

a. NB: You will first have to make sure the supplier have been created already in the system.(Business Partners/Firm) which
we will handle in the next three tutorials.

b. If the supplier has been created you can still continue to create the first part of the supplier by entering some basic information
then after you will have to continue at business and firm partners which we will talk about.

1. To create a payables (Doc/Invoice). In the system you will have to click on the Plus Sign as shown i.e ADD

2. You will now have to select a document type: which we have more than one possible option to select, basically we will be
looking at supplier standard payment (that is creating invoice and thereafter processing payment against the invoice)

3. Document number is by default with the system, NOTE: you can change the Doc number if possible as shown above… with arrow red indicated

4. You will have to enter a discerption or a comment which is a free text area (Free Text)

5. Then you will have to select a supplier, NOTE: anytime you will see a three doted button, Then it means you will have to
click on that before you select or create which we call (list of values) the list of values is just to limit duplicates.
If you search for a supplier and the supplier does not esixt/ not found then it means you have
to create That particular supplier.

How to create a supplier using the quick form interface:

a. Yu will click on new as shown below with circle red indicated. NB: anytime you click on NEW / ADD there is this yellow filt whih indicate the compussory filed.

b. Then you will there after fill all the parameters with the big arrow pointing NOTE: some may be default with unknown you
can change them. We display that to make your process faster hoping you will go and continue at (Business Partners/Firm)

c. If u have a list of suppliers then in this case you will have to make a search before creating another one, just to avoid creating that supplier two times.

d. After filling all the parameters you will have to click on apply selected record just below the form with an circle red indicated

6. Then you will have to select a payment method, NOTE: payment method can be change during process payment NB: that is not mandatary you can change during the time of processing payment necessary.

7. If there is any payment terms you can always indicate (Free Text)

8. Then after you can also indicate the total invoice amount, NOTE: you can also leave it as it is 0.00, during approval the amount will overright from the lines

9. Invoice currency is also base on the document type and by default (GHC)

How to Eetup the Doc Tempaltes

Click on setup Doc temp. a dialog box will appear eg.

Then you click on ADD and fill the parameters makes sure
the is Enable is been check. then drop the document type and select, NB: the first line below is the 1initial line and the corosponding accounting behind it
To get a new line like Tax, Discount etc just click on ADD again a new line will drop and then just drop down and select. Thenafter ou can now save and use / apply

10. You will now have to select a document type which will give you a fair idea of the first line process,
NOTE: Document type can always be modify or created base on you require or frequently invoice that normally
occurs most.eg.


This fig shows the TAX, DISCOUNT,EXTRA CHARGES AMNT, ADVANCE ETC. During your invoice you can apply
any of this element on the invoice with the apporpritae accounting. this will be detailed train during TAX CODES.

11. Once you select the doc. Type you will have the initial stage accounting from the system

12. Here you can always change the charge account and also modify the discerption and the amount

13. Should in case you need more lines you can click on (AMINT.)This will drop more initial line for you to fill.

14. As you can see there a place for Tax, Discount, Extra Charges and prepayment, where you can apply on the invoice as
indicated with the square yellow filled. just above.

15. To define Tax, Discount or Extra charges you will have to go to TAX CODES which we will talk about… Far Below… but NB: you can also define then right from the
flag and it will work.

16. Once you invoice is ready you can now save and approve then after an account payables manager will make the payment.

The Save Button you will always have to save for the firsttime and also anytime you make changes on the invoice The Approve button you will
approve if the dont have any changes to be done on that particular invoice. if you click on approve you can not make any changes again unles you cancel and if you
also cancel you will loose you Doc number due to filling process you will not get that particular number again. so therefore you can always create invoice and come later to approve
if the agreement is been approve and validated by the company or account department. you can aslo create as many as supplier invoices without approving.


This fig shows the Sql, Record Histroy, refresh, Custom invoice report, Standard report, Printing Stage, Attachment
and Grand Total of invoice
. The Printing stage here print out A4 which is the invoice and the process payment section indicate the payment advise to the supplier

Before the payment process, should incase you have entered more than one supplier invoices and you will want to continue by processing
just search for the supplier invoice first eg.

type the supplier name and just drop down to select and hit enter
Also NB: some invoices may come from defferent module with source doc type etc.

Process Payment

The process payment is the final stage of the document here we can receive partpayment or full payment against the invoice. from the fig.above
shows the payment dislog box. The first is payment type: payment type comes by defualt which always be change, if you change from cash on hand to probally bank then you will have to fill the
cheque information i.e the owners name , cheque number etc just at your right side on the payment dialog box.
The payment date is always defferent from the invoice date. should in case you want them to agree then you therefore chnage the payment date to agree the invoice date
before process payment.

The rectangle box indicate the payment history; with this anypayment made on that particular
will display there for easy print of receipt

Receivables Invoice

Account Receivables is money paid by the customers to the Company shown as a revenue on the company’s balance sheet.
The Fig below indicate the Receivables interface

How to create a Receivables invoice in Accounting sub-module

a. NB: You will first have to make sure the customer have been created already in the system.(Business Partners/Firm) which
we will handle in the next two tutorials.

b. If the customer has not been created then you can still continue to create the first part of the customer by entering some basic information
then after you will have to continue at business and firm partners which we will talk about.

1. To create a Receivables (Doc/Invoice). In the system you will have to click on the Plus Sign as shown i.e ADD

2. You will now have to select a document type: which we have more than one possible option to select, basically we will be
looking at customer standard payment (that is creating invoice and thereafter processing payment against the invoice)

3. Document number is by default with the system, NOTE: you can change the Doc number if possible as shown above… with arrow red indicated

4. You will have to enter a discerption or a comment which is a free text area (Free Text)

5. Then you will have to select a customer, NOTE: anytime you will see a three doted button, Then it means you will have to
click on that before you select or create which we call (list of values) the list of values is just to limit duplicates.
If you search for a customer and the customer does not esixt/ not found then it means you have
to create That particular supplier.

How to create a customer using the quick form interface:

a. Yu will click on new as shown above NB: anytime you click on NEW / ADD there is this yellow filt whih indicate the compussory filed.

b. Then you will there after fill all the parameters with the big arrow pointing NOTE: some may be default with unknown you
can change them. We display that to make your process faster hoping you will go and continue at (Business Partners/Firm)

NB: there can also be some customer who are members, staff etc. there is this features Link Person’s No. in this case you dont have to create that particular customer again
you will just click on new and select link person’s no and then search the name or ID of that customer then you will
apply

You can also link that same person’s invoice to an event if he or she has attended

if you attached event then you have to add a fee eg.

c. If u have a list of customers then in this case you will have to make a search before creating another one, just to avoid creating that customer two or more times.

d. After filling all the parameters you will have to click on apply selected record just below the form with an circle red indicated

6. Then you will have to select a payment method, NOTE: payment method can be change during process payment NB: that is not mandatary you can change during the time of processing payment necessary.

7. If there is any payment terms you can always indicate (Free Text)

8. Then after you can also indicate the total invoice amount, NOTE: you can also leave it as it is 0.00, during approval the amount will overright from the lines

9. Invoice currency is also base on the document type and by default (GHC)can be change

How to Eetup the Doc Tempaltes

Click on setup Doc temp. a dialog box will appear eg.

Then you click on ADD and fill the parameters makes sure
the is Enable is been check. then drop the document type and select, NB: the first line below is the 1initial line and the corosponding accounting behind it
To get a new line like Tax, Discount etc just click on ADD again a new line will drop and then just drop down and select. Thenafter ou can now save and use / apply

10. You will now have to select a document type which will give you a fair idea of the first line process,
NOTE: Document type can always be modify or created base on you require or frequently invoice that normally
occurs most.eg.


This fig shows the TAX, DISCOUNT,EXTRA CHARGES AMNT, ADVANCE ETC. During your invoice you can apply
any of this element on the invoice with the apporpritae accounting. this will be detailed train during TAX CODES.

11. Once you select the doc. Type you will have the initial stage accounting from the system

12. Here you can always change the charge account and also modify the discerption and the amount

13. Should in case you need more lines you can click on (AMINT.)This will drop more initial line for you to fill.

14. As you can see there a place for Tax, Discount, Extra Charges and prepayment, where you can apply on the invoice as
indicated with the square yellow filled. just above.

15. To define Tax, Discount or Extra charges you will have to go to TAX CODES which we will talk about… Far Below… but NB: you can also define then right from the
flag and it will work.

16. Once you invoice is ready you can now save and approve then after an account payables manager will make the payment.

The Save Button you will always have to save for the firsttime and also anytime you make changes on the invoice The Approve button you will
approve if the dont have any changes to be done on that particular invoice. if you click on approve you can not make any changes again unles you cancel and if you
also cancel you will loose you Doc number due to filling process you will not get that particular number again. so therefore you can always create invoice and come later to approve
if the agreement is been approve and validated by the company or account department. you can aslo create as many as supplier invoices without approving.


This fig shows the Sql, Record Histroy, refresh, Custom invoice report, Standard report, Printing Stage, Attachment
and Grand Total of invoice
. The Printing stage here print out A4 which is the invoice and the process payment section indicate the payment advice (POS) to the customer

Before the payment process, should incase you have entered more than one customer invoices and you will want to continue by processing
just search for the customer invoice first eg.

type the supplier name and just drop down to select and hit enter
Also NB: some invoices may come from defferent module with source doc type etc.

Process Payment

The process payment is the final stage of the document here we can receive partpayment or full payment against the invoice. from the fig.above
shows the payment dislog box. The first is payment type: payment type comes by defualt which always be change, if you change from cash on hand to probally bank then you will have to fill the
cheque information i.e the owners name , cheque number etc just at your right side on the payment dialog box.
The payment date is always defferent from the invoice date. should in case you want them to agree then you therefore chnage the payment date to agree the invoice date
before process payment. NB: Receivables Invoice is the opposite of Payables Invoice

Invoice Payment

How to Setup Payment Methods

a. You will click on Setup Payment Methods

b. You will click on ADD

c. You will then have to select method name, which you can add more option on your own eg

d. You will have to type in Method Description

e. Select Charge Account number / Name, this will led you to your chart Account

f. Drop down Supported Doc type and select one if you will use the method to pay then select supplier payment but if you will receive from the method then select Customer payment

g.select background process name, which in most case the system don’t use.

h.Make sure you check the IS enable

i.Click on SAVE at your top left

Business Partners/Firm

a. How to create or ADD a customer, supplier, (customer /supplier)

b. You will click on ADD

c. You will then have to select the type as in weather the person is a customer, supplier, (customer /supplier)

d. You will have to type in the name and all the space left if have.

e. Thereafter you will have to save.

f. Customers can also be link to members.

g. The diagram above with the arrow show the linked persons No.

Tax Codes

Default Accounts

Account Reconciliation