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Standard Update – Sales and Purchase Ledgers - Nominal |
Article Number: 1114 | Rating: Unrated | Last Updated: Mon, Jun 19, 2023 at 6:42 PM
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Datafile Software Standard Update – Sales and Purchase Ledgers - Nominal In this part of the program you define the parameters needed to update from the sales and purchase ledgers, and following this the update from the payroll for this company. The first four parameters relate to the sales ledger and
they are then repeated for the purchase ledger. You can choose to update details from the sales and purchase ledger transaction files into the nominal ledger in one of two ways — either on a one-to-one basis or on a summarised basis. If you choose a one-to-one basis (by the above question blank) then a nominal transaction is written for every analysis line updated from the sales and purchase transaction files, and for each payment and payment adjustment transaction too. If you choose the summarised basis (by setting the above question) then when you update the nominal ledger, it accumulates values for each nominal code from the values of the sales or purchase transactions to be posted, and then writes one nominal transaction per account code with the total amount accumulated for it Note You can mark
individual nominal ledger accounts to be "fully updated”. These accounts are always updated in detail
regardless of the option chosen above.It is common to update income and expenditure in summary, but balance
sheet accounts — other than ledger and tax control accounts — in detail. If you have chosen to update the nominal ledger in summary,
then you can override this specifically for bank accounts to ensure they are
updated in detail. Set to do this — the answers
are immaterial if you are already updating in detail. This option should not be set for normal use. If you introduce the nominal ledger into a
Datafile software system that has been running for some time you may want to
update some earlier transactions back to the start of the current financial
year. As the update process takes every
transaction not previously updated to the nominal (with the exception of
forward transactions) if you ran the update all these transactions would be
updated into the nominal as at the current (sales/purchase) period. Setting this option allows you to filter the
transactions by period number, allowing you to run an update for each period. Once the nominal is fully up-to-date you
would then switch this option off.
If not using the cash book then payments and payment
adjustments are entered via the ledger and must wait for a nominal update to be
run before they hit the bank account.You can run the update as many times as you like during the period but
some users prefer that invoices etc. only hit the nominal at period end. Setting this option enables a run-time
parameter when you run the update to only process payments. Whenever you update from the sales and purchase ledgers into the nominal ledger a report is printed to record the transactions created, and also to give you a control summary to compare against the sales/purchase ledger control summary. You need to specify the print style to use for this report. You can define up to eight printing styles for your system
through the CONFIG user — see the System
User Guide. These control not only
the print style such as the number of characters per inch, but also the length
and width of the report. The styles so
far defined are shown at the bottom of the screen for you to choose one. Setting this option defaults the printed report to output to
the disk spooler. Select up to six extra items from the nominal transaction
file to be included on the report. The lower half of this screen shows the various nominal control account codes which you have already defined in the nominal ledger System Profiles for this company. If any of these are missing for either of the ledgers, then the update procedure for that ledger will prevent you even from starting. You should check they are all present for the ledgers from
which you plan to update. If not, then
you should use the System Profiles option to complete the list. The next screen allows you to specify up to ten items which can be copied from the sales and purchase ledger transactions into the nominal ledger transactions as they are written.This only occurs, of course, for transactions which are updated in detail and for which there is a one-to-one correspondence. Any items you specify here are copied just prior to the transaction being written. You may want, for example, to carry across the actual transaction date to a field recording the original transaction date (not the nominal tx-date!), the transaction description, the sales or purchase account code, the reference number, and maybe other items too. You can use the <F4–Select> key to look up data item numbers from each file. |
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