Computerised Financial Systems N6

7/29/2019 Computerised Financial Systems N6

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N

SERIES

N6

C October

R Redelinghuys

W Roelofse

GG van der Westhuizen

Comput

erisedFinan

cialSystems


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Computerised Financial Systems N6

ii

Future Managers 2012

All rights reserved. No part o this book may be reproduced in any orm, electronic, mechanical,photocopying, or otherwise, without prior permission o the copyright owner.

To copy any part o this publication, you may contact DALRO or inormation and copyright clearance.Any unauthorised copying could lead to civil liability and/or criminal sanctions.

Telephone: 086 12 DALRO (rom within South Arica); +27 (0)11 712-8000Teleax: +27 (0)11 403-9094Postal Address: P O Box 31627, Braamontein, 2017, South Aricawww.dalro.co.za

ISBN 978-1-920540-99-9

First Published 2012

FutureManagers

Published by

Future Managers (Pty) Ltd

PO Box 13194, Mowbray, 7705

Tel (021) 462 3572

Fax (021) 462 3681

E-mail: [email protected]

Website: www.futuremanagers.net


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Contents

Contents

Module 1 Financial statements on an accounting package (report writer) .................................................11. Report writer ...............................................................................................................................................................................................2

1.1 Heading..................................................................................................................................................................................................2

1.2 Columns ................................................................................................................................................................................................21.3 Report lines .........................................................................................................................................................................................31.4 Print a report .....................................................................................................................................................................................4

Module 2 Analysis and interpretation o fnancial statements............................................................................131. Formulae .......................................................................................................................................................................................................14

1.1 Gross proft percentage ...........................................................................................................................................................141.2 Net proft percentage ................................................................................................................................................................141.3 Rate o proftability on capital investment................................................................................................................141.4 Working capital ratio ................................................................................................................................................................141.5 Acid test ratio .................................................................................................................................................................................141.6 Stock turnover rate .....................................................................................................................................................................14

1.7 Average collection period o debtors ............................................................................................................................141.8 Debtors turnover rate...............................................................................................................................................................141.9 Average payment o creditors .............................................................................................................................................14

Module 3 Advanced document project on a computerised accounting package .................................23

Module 4 Advanced spreadsheet...................................................................................................................................................45

Module 5 Cost and management applications on a spreadsheet .......................................................................61

Module 6 Budgets on an accounting package ....................................................................................................................93

Module 7 Handling o budgets spreadsheet .................................................................................................................101


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Computerised Financial Systems N6

iv


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Module 1

Financial statements on an accounting

package (report writer)

After completing this module, you will be able to:

Createstatementsbysettingupparametersonthereportwriterofachosen

Accountingpackage(Pastel). Printthestatementsattheendofthenancialperiod.


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Module 1

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1. Report writer

Te report writer is used to create reports such as Financial Statements and Budgets according toyour own requirements. Te report oers you access to current and last year's values as well as lastyear, current year and next year budgets.

o create a report select View, General ledger, Report writer

Select Create a new report from scratch to create the report or the rst time.

Te report consists othree dierent sections:

Te HEADING. Here you enter the heading o your report.

Te COLUMNS. Here you speciy the number o columns as well as the type o columns you wantto use in the report. You also speciy the period range.

Te LINES. Here you speciy the inormation you want on each line o the report, includingunderline, blank lines.

1.1 Heading

Remember the ollowing:#E reers to the END DAE o the period#S reers to the SAR DAE o the periodEXAMPLE: INCOME STATEMENT FOR THE YEAR ENDING #E(I you want to print the income statement or March, the heading will read: INCOMESAEMEN FOR HE YEAR ENDING 31MARCH 20..)Make sure you select the correct report type:

Multiple columns. You speciy per line whether you expect the columns value to be a debit or acredit.

Debit/credit. Here you can use only 2 columns. Within each column, values can be printed in oneo two sub-columns. Debits print in the lef sub-column, and credits in the right e.g. a rial Balance.

User defned. Tis ormat allows a maximum o two columns per report. Within each column,values can be printed in one o two sub-columns. You speciy or each line whether to print in the

lef or right column (not necessarily debit or credit) e.g. an Income Statement.

1.2 Columns

Te amount columnOne o the most important parameters here is which set o gures (values) should be printed in thecolumns o the report.

Te report writer gives you access to all the general ledger accounts as well as budgets or thecurrent and the previous year (as well as next year's budgets).


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Financial statements on an accounting package

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Te values are as ollows: isyearactualvalues T Lastyearactualvalues L isyearbudgetvalues B Lastyearbudgetvalues Y Nextyearbudgetvalues F Columnvariance V

Te dierence between 2 columns Columnpercentage P

as a % o the column to the lef Skipcolumngivesablankcolumn S

Te type columnTis column behaves dierently, depending on the amount column selected.

Fixed period you speciy the actual numbers o the periods you want to include in the report.Pastel will use the values o this specic period regardless o the period in which the report is

printed. It is normally used or last years gures (e.g. rom period1 to 12 or rom 12 to 12).

Runtime period here you speciy periods relative to the current period. Pastels number or thecurrent period is always 0. E.g. i you want to print the last three months gures, enter 2 to 0.o print the gures or the year to the current period, enter 11 to 0.

I you use runtime periods, Pastel will not go back into the previous year. I you enter 11 e.g., butyou are currently in period 4, Pastel will use values rom period 1 (and will not go back into theprevious year).

1.3 Report lines

Here you indicate the inormation you want on each line o the report.

Formulae in a report

Here you indicate the specic amount you want in the report.

You can use the ormula assistant in the ormula column.

Financialcategory(FT): Reportwritercategory(CT):

Subtotal(TOT): Accountnumber(ACC): Othercommands

Here you print a list o accounts (main-, sub- or main- and sub-accounts) with the name o theaccount next to each amount.

You can insert or delete lines by using the insert line and delete line options.

RememberClickonSAVEattheendofthereport.


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Module 1

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1.4 Print a report

You have two options: ClickRUN or ClickBACK up to the Report Writer Assistant and select print one or more reports.

Select the report you want to print as well as the correct period.

You have a choice to print lines with zero amounts or not. [Print zero lines].

Exercise 1.1

1. Create a new set o accounts, CERI, on an accounting program on the computer.2. Insert the ollowing inormation under SEUP.

Company nameCERIS CURIO SHOP (also insert your own name)

Report Writer categories1 CAPIAL2 FIXED ASSES3 INVESTMENTS4 CURREN ASSES5 LONG ERM LIABILIIES6 CURREN LIABILIIES

Entry typesGeneral Journal (D)

Financial Period1 March (last year) to 28/29 February (this year)

You do not have to set up any other parameters.

Code General Ledger Accounts Balance5100 Capital R300 000.005200 Retained Income 48 360.005400 Drawings 37 478.006200/010 Vehicles:CostPrice 119342.006200/020 Vehicles:AccumulatedDepreciation 51342.006300/010 Equipment: Cost Price 179 670.006300/020 Equipment: Accumulated Depreciation 71 956.007100 Fixed Deposit: MY Bank (16%) 96 000.007700 rading Stock 89 856.008000 Customers Control 12 602.008400 Bank (D) 31 868.008410 Petty Cash 986.009000 Suppliers Control 19 270.009200 Loan: SA Bank (21%) 76 874.00

3. Create the general ledger accounts and enter the balances period 12 this year. Use the

General Ledger. Use JNL12 as reerence. Ensure that the journal balances and update to theledger.


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4. Create a report to print the ollowing Balance Sheet.(View, General Ledger, Report Writer)

(You have to plan your report and know how the nal printout should look beore you start withthe report)

Te nal printout o the Balance Sheet should appear as ollows:

CERIS CURIO SHOPBALANCE SHEE FOR HE YEARENDING 28/02/this year

Note Current yearRand

ASSESNON-CURREN ASSES

Equipment,VehiclesOther Fin. Assets

12

175 714.0096 000.00

271 714.00

CURREN ASSES

Stockrade DebtorsCash and equivalents

345

89 856.0012 602.0032 854.00

135 312.00

OAL ASSES 407 026.00

EQUIY AND LIABILIIES

CAPIAL

NON-CURREN LIABILIIES

Interest bearing Loans

6

7 76 874.00

310 882.00

76 874.00

CURREN LIABILIIESrade Creditors 8 19 270.00

19 270.00

OAL EQUIY + LIABILIIES 407 026.00

Use the ollowing report ormat to create the Balance Sheet.

Report headings: BALANCE SHEE FOR HE YEARENDING #E

Index description: BALANCE SHEEOmit standard headings: NoReport ormat: User Dened (U)Rounding: No roundingNote reerence: Yes


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Module 1

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Report columns

Col Amount ype From o Heading 1 Heading 201 R -11 0 Current year Rand

(Tis year)

Report lines

Skip Print DC Sup-press

Description Formula Sub

otal

No

Sub

otal

Action

Note

1

111

1

11

11

111

212

111

111

11

RR

LLL

RLL

L

L

RRR

RRL

LR

LLRR

R

DDD

DD

DDDD

DD

DCC

CCC

C

CC

CCC

N

NNN

N

NN

NN

NNN

NNN

NNN

NNN

NN

ASSESNON-CURREN ASSES

Equipment,VehiclesOther Fin. Assets_SC

CURREN ASSESStockrade Debtors

Cash and equivalents

_XC

OAL ASSES_DCEQUIY AND LIABILIIES

CAPIALNON-CURREN LIABILIIESInterest bearing Loans

_SCCURREN LIABILIIES

rade Creditors_XCOAL EQUIY + LIABILIIES_DC

_DL

C02+C03C02

C03

C04ACC7700000ACC8000000ACC8400000+

ACC8410000

O1

C01

C05ACC9200000

C06

ACC9000000

O2

1

1

2

2

2

Add

Add

Add

Add

Add

1

2

345

6

7

8

5. Print the Balance Sheet on 28 February this year. Show zero lines yes.


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Exercise 1.2

1. Create a new set o accounts, APHENI, on an accounting program on the computer.2. Set up the ollowing:

2.1 Company detail APHENIS SWEES (Insert your own name & surname)

2.2 Report writer categories 1 Income 5 Capital

2 Expenses 6 Current Assets3 Sales 7 Current Liabilities4 Cost o Sales 8 Fixed Assets

2.3 Entry ypes General Journal (D)

2.4 Financial periods

1 January to 31 DecemberAlso set up last year period 12

2.5 General Ledger Accounts Link each general ledger account to the correct report writer category

1000 Sales 3850 Insurance2000 Opening Stock 4200 Stationery2050 Stock Purchases 4300 Rent Paid2100 Closing Stock 4400 Wages2700 Discount Received 4600 elephone

2750 Interest Received 5100 Capital2800 Commission Received 5200 Retained Income2850 Rent Received 6300 Equipment3450 Depreciation 7700 rading Stock3650 Water and Electricity 8400 Bank

2.6 Use the ollowing ormat to set up the income statement o APHENIS with comparativegures. Use the report writer.

Report heading: INCOME SAEMEN FOR HE YEARENDING #E

Index description: INCOME SAEMEN

Omit standard headings: NoReport type: User dened (U)Rounding: No roundingNote reerence: No

Report columns

Col Amount ype From o Heading 1 Heading 201 Tis year R -11 0 Tis year Rand

()02 Last year F 1 12 Last year Rand

(L)


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Module 1

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Report lines

Skip Print DCSup-

pressDescription Formula

Sub

otal

No

Sub

otal

Action

11

111

111

111

111

111

11

RRL

LLL

LRR

RLR

RRL

RRR

R

C

DDD

DDC

CCC

CCC

DDD

CCC

N

NNN

NNNN

NNN

NNN

NNN

NN

urnover or the yearLess Cost o Sales

Opening StockAdd Stock Purchases__SC

Less Closing Stock__SC

GROSS PROFIAdd OHER INCOME

_SCGROSS INCOMELess EXPENSES

_SCNE PROFI FOR HE YEAR_DC

_DL

C03C04ACC2000000

ACC2050000

O2

ACC2100000

O1

C01CM01

O3C02CM02

O4

1

122

33

4

4

Add

AddAddAdd

AddAdd

Add

Add

3. Print the income statement FORMA.

4. Enter the closing balances or period 12 o the previous year and update to the general ledger.Use the general journal.

5. Enter the closing balances or period 12 this year. Remember that balances o Balance Sheetaccounts are carried over to the next year (thereore you have to enter the dierence).

Balances 31 Dec 31 DecCurrent year Last year

1000 Sales 278 200 262 3002700 Discount Received 920 6302750 Interest Received 2 400 1 3002800 Commission Received 12 900 22 1002850 Rent Received 24 000 18 0002000 Opening Stock 30 400 19 700

2050 Stock Purchases 120 600 99 7002100 Closing Stock 35 800 30 4003450 Depreciation 1 500 1 5003650 Water and Electricity 17 400 15 9003850 Insurance 6 000 6 0004200 Stationery 15 900 11 0004300 Rent Paid 18 000 12 0004400 Wages 72 000 60 0004600 elephone 9 400 12 7005100 Capital 280 370 275 3705200 Retained Income6300 Equipment 350 400 310 2007700 rading Stock 35 800 30 4008400 Bank 53 420 31 000


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6. Print the general journal batch listing or period 12 this year.

7. Use the report writer to print the Income Statement or the year ending 31 December currentyear. Compare gures with the previous year.

Note

Please do not delete this exercise. You are going to use it again in Module 6.

Exercise 1.3

Use the ollowing inormation to create a new company with the name KARIEM on the PastelAccounting program.

DetailKARIEMS ANIQUES (Also insert your own name & surname)

REPOR WRIER CAEGORIES

01 INCOME 07 SOCK02 EXPENSES 08 CASH03 SALES 09 ACCOUNTSRECEIVABLE04 COS OF SALES 10 CAPIAL05 FIXED ASSES 11 LONG ERM LIABILIIES06 INVESTMENTS 12 ACCOUNTSPAYABLE

Financial period

1 March to 28 February this yearAlso set up period 12 or the previous year

Entry typesGeneral Journal (D)Stock Journal (D)

Documents

Computerised Financial Systems N6