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Financials 101

Common ACS Financials Tasks

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Copyright

Copyright © 2010 ACS Technologies Group, Inc. All rights reserved. Reproduction of any part of

this publication by mechanical or electronic means, including facsimile transmission and e-mail,

without the express permission of ACS Technologies Group, Inc. is strictly prohibited.

Version 10.3

Last Updated 3/17/2010 5:17 PM

Contents

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Contents Introduction to This Guide ............................................................................................................... 4

Unit 1: Understanding ACS Financials .............................................................................................. 5

ACS Users and Security ................................................................................................................ 8

Understanding Account Types ................................................................................................... 14

Basic Accounting Concepts ........................................................................................................ 18

The Big Picture ........................................................................................................................... 23

Accounting Cycle ........................................................................................................................ 25

Menu Options in ACS Financial Suite ......................................................................................... 26

Decisions and Directions ............................................................................................................ 31

Unit 2: Setting Up the General Ledger ........................................................................................... 34

Configuring the General Ledger ................................................................................................. 35

General Ledger Setup ................................................................................................................ 37

Account Setup ............................................................................................................................ 39

Transaction Setup ...................................................................................................................... 44

Define Lists ................................................................................................................................. 51

Account Structures and Views ................................................................................................... 60

Entering Budget Information ..................................................................................................... 66

Unit 3: General Ledger Usage ........................................................................................................ 81

Enter/Post Transactions ............................................................................................................. 82

Entering Checks .......................................................................................................................... 90

Running Inquiries ....................................................................................................................... 92

Reports ....................................................................................................................................... 93

Appendix A: Reference Materials .................................................................................................. 96

Understanding ACS Financials ................................................................................................... 97

General Ledger Fields and Terms ............................................................................................... 99

Budgets .................................................................................................................................... 102

Analysis of Revenue and Expense Column Settings ................................................................. 103

Introduction to This Guide

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Introduction to This Guide This Guide covers the basic principles of not-for-profit accounting. We will discuss:

• Setting up General Ledger

• Managing your Chart of Accounts

• Using General Ledger

• Working with Reports

We will explain accounting basics as a foundation for working with the ACS Financial Suite. The

General Ledger Module offers a wide variety of options and flexibility to assist you in managing

General Ledger information for your organization.

Unit 1: Understanding ACS Financials

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The ACS Financial Suite enables organizations to manage financial information quicker and more

efficiently. The Financial Suite is specifically designed for non-profit organizations, but is

customizable for all types of organizations. All reports in this suite are FASB 116 and 117

compliant and fall under Generally Accepted Accounting Principles. This section describes the

following:

• ACS Users and Security

• Understanding Account Types

• Basic Accounting Concepts

• ACS Financial Modules and How They are Related to other Modules

• The Big Picture

• The Accounting Cycle

• Menu Options

• Decisions and Directions


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Before you begin using ACS for Windows General Ledger you should understand the following:

• Generally Accepted Accounting Principles (GAAP) − are the authoritative ground rules

for measuring profit, and evaluating assets and liabilities. The Financial Accounting

Standards Board (FASB), the body that generates GAAP, periodically updates and

modifies the rules. The church bears the responsibility to determine that their

organization is functioning within these guidelines.

• Double-Entry Bookkeeping − General Ledger, along with Accounts Payable, Payroll,

Accounts Receivable, and Fixed Assets, is a double-entry accounting system. The

individual responsible for setting up and maintaining the system should have an

understanding of double-entry bookkeeping and how debits and credits affect different

types of accounts when posted to the General Ledger.

• Cash vs. Accrual − Under cash basis accounting, revenue is reflected when cash is

received and expenses are recognized when cash is disbursed. In accrual basis

accounting revenue and expenses are recognized in the period in which they occur

regardless of when payments are made or payments are received. ACS can be

configured on either a cash or accrual basis method of accounting. Depending on which

method you choose, transactions will post to the General Ledger differently. Selection

of cash vs. accrual is made in the Accounts Payable and Accounts Receivable modules.

As with understanding GAAP, it is up to the church and its accountant to determine

which method of accounting is applicable and will be followed.

• Fund Accounting − the use of funds as separate sets of books. It is an accounting

system used by churches, synagogues, governments, colleges and universities, hospitals

and other non-profit entities. All accounting principles still apply but each Fund has

distinct accounts so that reports may be made separately for each fund.

• Accounting is the information system used to record, measure, and report, in monetary

terms, the flow of resources into and out of an entity, the resources controlled by that

entity, and the claims against those resources. It helps take unorganized information

and create a complete, accurate, and organized picture of the financial affairs of the

organization. It is a financial history book of the entity involved.

• Funds and Datasets are used to separate different sets of financial books. The Fund

Code designates which set of books the user wants to place an account in. Each fund

should have its own assets, liabilities, income, expense, and restricted accounts. Each

fund should have a unique Fund Principal account, which is a closing account.

It is important to understand the difference between funds and datasets. A fund is a set

of financial books. If you have two funds, you have two sets of books in the same chart

of accounts. A dataset is a complete financial database with its own fund(s) and chart of

accounts. In the ACS Financial Suite, you can create additional financial datasets. With

additional datasets, you can create a separate chart of accounts for a school or day care

center. This chart of accounts is kept completely separate from your church chart of


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accounts. Each dataset also has its own payroll roster, vendor list, and assets.

Information cannot be transferred between datasets.

Funds are not the same as departments, committees, and areas. In Fund Accounting,

funds are used to create a separate set of books, and ACS treats them differently than

departments, committees, and areas when closing the year. A Fund maintains its own

fund principal between years.

Use the following guidelines to determine if you need a separate dataset:

• You have two or more financial books that operate on different accounting periods: one

is on a fiscal year and one is on a calendar year.

• You have separate federal identification numbers.

• You have separate accounting staffs.

• You need to keep financial information for different areas (such as church, school, day

care) completely separate.

ACS Users and Security

People with access to ACS are given a user account and are referred to as users or

end-users. Users are assigned a user name, password and user rights (or permissions). In some

cases, users can perform functions only on the data they have entered. For

Contributions module, a user can post only the transactions that they have entered in ACS.

Users of the ACS Financial Suite need to have an understanding of:

• Fund Accounting

• Double-entry Accounting

• Church Tax Laws

• Reports that the organization uses

Useful Information

If the ACS user is not familiar with any of the above categories, they should have another

individual to rely on. (Example: Treasurer, Accountant, Office Manager, etc.)

Security in ACS is implemente

determine whether a user has access to different areas of the software. For example, a user

who does not have rights to Add/Edit Chart of Accounts in the General Ledger module cannot

add a new account or edit an existing account.

There are three levels of rights in ACS:

• All - User has the ability to add, edit, and delete information.

• View - User can view information, but they cannot add, edit, or delete information.

• None - User cannot edi

Financial Dataset Security

By default, all users with rights to the ACS Financial Suite have access to all of the financial

datasets you have created. However, you can limit a user's access to the various financial

datasets you have set up. For example, if you have a bookkeeper for a day care center, and a

bookkeeper for the church, you can restrict each user's access to the organization they work

with.


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. Users are assigned a user name, password and user rights (or permissions). In some

cases, users can perform functions only on the data they have entered. For example, in the


Users of the ACS Financial Suite need to have an understanding of:

entry Accounting

Reports that the organization uses

Useful Information


individual to rely on. (Example: Treasurer, Accountant, Office Manager, etc.)

Security in ACS is implemented per user. Users are granted rights for each module in ACS. Rights



new account or edit an existing account.

There are three levels of rights in ACS:

User has the ability to add, edit, and delete information.

User can view information, but they cannot add, edit, or delete information.

User cannot edit or view information.



e set up. For example, if you have a bookkeeper for a day care center, and a




. Users are assigned a user name, password and user rights (or permissions). In some

example, in the



d per user. Users are granted rights for each module in ACS. Rights



User can view information, but they cannot add, edit, or delete information.



e set up. For example, if you have a bookkeeper for a day care center, and a



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General Ledger Inquiry Security

By default, all users with rights to the ACS Financial Suite have access to all areas of the

software. However, you may have a user who needs to look up information regarding a select

number of accounts. For instance, the Building Committee may need access to information

regarding the building fund but, you do not want them to have access to any other information.

In this situation, you can provide the Building Committee with access to the Building Fund

through Inquiry only.

The example below in Figures 1 and 2 shows how to add a user from both the Workbench and

Classic menus.

Figure 1: Add/Edit Users from the Workbench Menu

Figure 2: Add/Edit Users from the Classic menu

A new user can be entered and their security options set individually, or they can be assigned a

template that sets groups of options according to the template. Their security can also be set to

match an existing user. For example: Selecting the Financial Template automatically sets the

basic financials modules and options within them to All. Each can then be customized.

To add a user

1. Under Advanced Tools, click the Admin Utilities tab.

2. In the drop-down list, select Add/Edit Users.


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3. Click Go .

4. Click Add.

5. Enter a user name.

6. Enter the information requested on the first Add User screen.

• Required fields are:

� User name – 8 characters, all lower case

� Password – a minimum of 3 characters

Figure 3: Adding a new user

• Optional fields are:

� First Name

� Last name

� Description

• Information may be entered, but is not required.


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7. Click Next to move to the next screen.

Figure 4: The second Add User window

• Optional fields are:

� Company

� Address 1

� Address 2

� Zip Code

� City/State

� Phone

� Work Phone

� E-mail Address

• Information may be entered, but is not required.

8. Click Next to move to the next screen.

9. Under Set Security, select the option(s) you want to include.

10. Click Finish.


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Figure 5: Selecting the security settings to add/edit users

• The ability to Add/Edit Users is a separate security selection.

Financial Security Options

• Limit Comments – Select the Check Box and click Select to restrict the comment

types a user can enter.

• Limit Datasets – Select the Check Box and click Select to choose the datasets to

which the user can have access.

• Limit G/L Inquiry – Select the Check Box and click Select to choose the General

Ledger Inquiry information to which the user can have access.

• Add/Edit Users – Select if the user is the primary user or system administrator.

Enabling this option prevents the user's profile from being deleted. We suggest that

you enable this feature for at least one user to always ensure access to the ACS

system.

• Copy From Template – Select to copy security settings for the user from an existing

template. Select the template to use from the drop-down list.

Terminology

All – Gives the user rights to all modules

Finance – Gives the user rights only to Financial modules

None – Withholds rights to all modules from the user. Once the user has been added, the

administrator can assign specific rights, as needed, for the user.


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rights to all modules

Gives the user rights only to Financial modules

Withholds rights to all modules from the user. Once the user has been added, the

administrator can assign specific rights, as needed, for the user.


Withholds rights to all modules from the user. Once the user has been added, the


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Understanding Account Types

All accounts are grouped or classified by account type. Assets, Liabilities, Fund

Principals and Restricted accounts are found on a balance sheet report. Revenues, Expenses,

other revenue and other expenses are found on income/expense reports or in ACS on the

analysis of revenue and expense reports.

Assets: Things of value owned by the entity

• Assets include cash, cash in the bank, land, savings, stock, bonds, investments, accounts

receivable, equipment, land, promises from others to pay, or any other physical

resource with a value attached to it. Asset accounts carry a debit balance.

• Land, buildings, tools, supplies are called fixed assets and represent items typically held

for more than a year and can be easily converted to cash.

• Promises from others to pay the church or organization are often called receivables.

This may also include tuition commitments for a school.

• Receivables, plus Cash, stock, etc. are called current assets. They can typically be

converted quickly to cash.

Liabilities: A type of account that reflects a debt owed

• Liabilities include goods or services bought on credit or time; Liabilities are

commitments that you owe.

• Loans from the bank are long term liabilities.

• Bills from vendors for services rendered are often called payables.

• Payments owed for payroll taxes, insurance benefits, etc. are also liabilities.

• Income taxes withheld from employees’ paychecks are liabilities. Liability accounts

carry a credit balance.

Liabilities are also a “promise to spend” in a certain way.

• Designated or Restricted accounts represent special kinds of liabilities. The money has

been entrusted to the church for a specific purchase only (such as a new building or a

Youth Ministry). You are obligated to spend it that way or return it to the donor, unless

some other arrangement was specified.

• GAAP requires that you show these separately.

Fund Principal (also called fund balance or fund equity)

(liabilities plus restricted funds).

located and are comparable to owner’s equity in a business.

• The Fund Principal is equal to your assets minus liabilities and restricted accounts, plus

revenue minus expense accounts.

• All revenue and expense accounts (temporary accounts) will close to a Fund Principal

account at the end of the accounting cycle.

• Fund Principal Accounts

print the balance sheet correctly.

• In accounting terminology, the

accounts and the revenue

because the balance sheet accounts do not go away

revenue and expense accounts go away

• Asset, Liability, Fund Principal and Restricted accounts

accounts. At the end of the year, the revenue and expense accounts will be closed out

to zero balances with only these account types remaining with a balance.

Useful Information

While there is some similarity, b

“Temporary” with the descriptions of permanent and temporary restricted, or designated,

accounts. In that usage, “permanent restricted” accounts refers to those accounts where only

the income may be spent.

those in which funds are restricted to use for a certain purpose or during a certain time frame.

For example, donations to a building fund are restricted to use for the building.

The Fund Principal is based on the following equation:

[(Assets – Liabilities) – Restricted Accounts] + (Revenues


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(also called fund balance or fund equity) is the excess of assets over liabilities

(liabilities plus restricted funds). The fund principal is where your organization’s

comparable to owner’s equity in a business.

The Fund Principal is equal to your assets minus liabilities and restricted accounts, plus

revenue minus expense accounts.

ue and expense accounts (temporary accounts) will close to a Fund Principal

account at the end of the accounting cycle.

Accounts must be located under the Fund Principal heading in order to

int the balance sheet correctly.

In accounting terminology, the balance sheet accounts are also called permanent

revenue and expense accounts are called temporary

because the balance sheet accounts do not go away until the entity ceases to exist. The

evenue and expense accounts go away as they are zeroed out each year.

Asset, Liability, Fund Principal and Restricted accounts are called balance sheet


with only these account types remaining with a balance.

Useful Information

While there is some similarity, be careful not to confuse the use of the words “Permanent” and



The principal is “permanent.” Temporarily restricted accounts are

funds are restricted to use for a certain purpose or during a certain time frame.


d on the following equation:

Restricted Accounts] + (Revenues – Expenses) = Fund Principal


he excess of assets over liabilities

where your organization’s resources are

The Fund Principal is equal to your assets minus liabilities and restricted accounts, plus

ue and expense accounts (temporary accounts) will close to a Fund Principal

nder the Fund Principal heading in order to

permanent

accounts. This is

the entity ceases to exist. The

they are zeroed out each year.

are called balance sheet


with only these account types remaining with a balance.

of the words “Permanent” and



estricted accounts are

funds are restricted to use for a certain purpose or during a certain time frame.


Expenses) = Fund Principal


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Revenue and Expense Accounts complete the picture of all financial activity for the

organization. These accounts record additional details of inflows and outflows during the

accounting cycle.

Revenues reflect amounts received by an organization in the form of contributions, donations,

receivables, or something of value and other revenues used by the organization in its daily

operations. Revenues carry a credit balance. Examples of revenue forms for a not-for-profit

organization include: offerings, tithes, and book sales. Revenue Accounts are also called Income

Accounts.

Expenses: A type of account that reflects the cost of operating, such as utilities, salaries, or

postage. Expenses carry a debit balance. Examples of Expenses include: utilities, wages, and

maintenance expenses. Expenses are the monetary measurement of resources used by the

organization during a period of time for which cash or other compensation was given.

Other Revenues: A type of account that reflects amounts received by an organization that are

not part of the regular anticipated source of revenue or income: non-budgeted income or

receipts. Bank interest is a form of other revenue.

Other Expenses: A type of account that reflects a cost of operating that is not a regular or

expected expense: non-budgeted expenditures. Service charges and bank fees are examples of

other expenses.

Temporary Restricted: A type of restricted account, such as a gift designated for a youth trip or

memorial. Restricted accounts carry a credit balance. Receipts post to restricted accounts as

credits. Disbursements from a restricted account post as debits.

Permanent Restricted: A type of restricted account, such as a donation in the form of an

endowment, from which one can only use the interest on the principal, but cannot use the

principal itself. Restricted accounts carry a credit balance. Restricted or Designated gifts are not

revenues. They are liabilities (in restricted accounts).

The Analysis of Revenue and Expenses is the summary report for financial transactions affecting

revenue and expense accounts.

• Analysis of Revenue and Expense is comparable to the Income Statement (or P&L/Profit

and Loss statement). Since churches have no profit motive, they have no profit and loss

statement or income statement. Instead, the information found on an income

statement is on the Detailed Analysis of Revenue and Expense.

• Revenue and Expense accounts are closed to Balance Sheet accounts at the end of the

accounting cycle so revenue and expenses for the new cycle can be recorded.

• The final balances in the balance sheet accounts for one accounting cycle become the

beginning balances for the next accounting cycle.


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• Balance sheet accounts are never cleared to anything unless the entity ceases to exist.

Table 1: Quick Reference Chart

Account Type

Assets What you own

Liabilities What you owe

Fund Principal Net worth

Revenues Money coming in

Expenses Money going out

Other Revenues Non-budgeted revenues

Other Expenses Non-budgeted expenses

Temporary Restricted Net Worth that is designated for a specific purpose

Permanent Restricted Net Worth that cannot be spent

Accounting Equation is always true:

Assets = Liabilities + Restricted + Fund Principal.

This equation is a fundamental accounting principle because it always exists. It is the

fundamental balancing feature of accounting.

The Balance Sheet summarizes the accounting equation for the organization.

This report details our assets, our liabilities, and gives the balance of our fund principal account.

The balance sheet is for a specific point in time, usually the last day of the month or a year.

While you may run it only at certain time, it should always be in balance.


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Basic Accounting Concepts

This section will cover the definition of Accounting, Importance of Accounting

Principles and Tools available through ACS.

• ACS is a Double-entry Bookkeeping system.

• Double-entry bookkeeping is what keeps your books in balance.

• Double entry bookkeeping requires that each transaction affect two accounts in a self-

balancing system.

• Think of an equation with its two sides separated by an equal sign. In accounting the

left hand side of a transaction is called the debit and the right hand side is called a

credit. Furthermore for each transaction the sum of all the debits must equal the sum

of all the credits. If they do not, the entry is out of balance and ACS will not allow you to

exit the transaction screen.

• Each account in your general ledger also has a left-hand and a right-hand side which is

why they are sometimes referred to as “T accounts.” The left-hand side of the account

is called a debit and the right-hand side is called a credit.

Debits Left – Credits Right

• Debits and credits are the backbone of accounting.

• You can split debits and credits among accounts, but the totals self-balance in the

double entry bookkeeping system.

• The left side of the account is the debit side (abbreviated DR).

• The right side of the account is the credit side (abbreviated CR).

• In accounting, the language of debits and credits has very specific meanings. The

language used by those in not-for-profit accounting is different than the language used

by the general public, who are not likely to follow double entry bookkeeping principles.

Example: a debit card decreases cash in your bank account (an asset account) but in

proper double entry accounting that would be called a credit. The offset would

decrease in your liability account (what you owe the vendor you are paying with the

debit card).


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Debits and credits DO NOT NECESSARILY EQUATE TO INCREASES AND DECREASES. The effect of

a debit or a credit on an account depends upon the classification or type the account falls into.

The Summary Chart

• Debits increase asset and expense accounts, while they decrease

revenue, liability, restricted, and fund principal accounts.

• Credits increase revenue, liability, restricted, and fund principal

accounts, while they decrease asset and expense accounts.

Debit Increases Credit Increases

Assets Liabilities

Expenses Fund Principal

Revenues

Restricted

Table 2: Summary Chart I

Assets Liabilities Fund Principal

DR CR DR CR DR CR

+ - - + - +

Revenue Expenses Restricted

DR CR DR CR DR CR

- + + - - +

Cheerful Individuals Like Fun, Rest &

Relaxation.

Credits Increase Liabilities, Fund

Principal, Revenues & Restricted.

Don’t Ignore An Elephant!

Debits Increase Assets &

Expenses


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Table 3: Summary Chart II

Type of Account What Does a Debit Do? What Does a Credit Do?

Assets Increases Decreases

Liabilities Decreases Increases

Fund Principal Decreases Increases

Revenues Decreases Increases

Expenses Increases Decreases

Restricted Decreases Increases

Table 4: Summary Chart III

Type of Account Where are the Increases Recorded? Where are the Decreases Recorded?

Assets Debit Column Credit Column

Liabilities Credit Column Debit Column

Fund Principal Credit Column Debit Column

Revenues Credit Column Debit Column

Expenses Debit Column Credit Column

Restricted Credit Column Debit Column

Table 5: Accounting Procedures

Assets Liabilities

+ Debit Increases - Debit Decreases

- Credit Increases + Credit Increases

Revenues Expenses

+ Debit Increases + Debit Increases

- Credit Increases - Credit Decreases

Designated accounts work on the same principal as liabilities


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ACS Financial Modules and the Relationship to other modules

This section covers an overview of the functions and capabilities of the General

Ledger and its relationship to the other Financial Modules, including Contributions.

Figure 6: Financial Modules and their Relationships


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The Accounts Payable module tracks vendor information, prints checks, and automatically posts

to the General Ledger on either a cash or an accrual basis. 1099’s are tracked and printed.

The Purchase Orders module issues and prints purchase orders, and tracks them through

completion. Once the purchase orders are received, you can create an invoice in the Accounts

Payable module from the purchase order. The Purchase Orders module does not post to the

General Ledger, but you can include encumbered amounts in General Ledger reports.

The Accounts Receivable module tracks customer information, prints invoices and statements,

and automatically posts to the General Ledger on either a cash or an accrual basis. The

Accounts Receivable module is most often used for a church day care, Mother’s Day Out

program, or school.

The Payroll module tracks employee information, prints payroll checks, and automatically posts

to the General Ledger. W2’s and 941’s are tracked and printed.

The Contributions module tracks contributor information, prints statements and charitable

contributions reports, and posts to the General Ledger, if the interface to the General Ledger

module is selected.

The Fixed Assets module tracks buildings, equipment, and vehicles, including the appropriate

maintenance records. If the client tracks depreciation, ACS calculates depreciation, either

monthly or yearly, and posts depreciation to the General Ledger.


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The Big Picture

The ACS Financial Suite is an accounting system designed to track financial data

for one or more business units. The General Ledger module is the core of the ACS Financial

Suite. It provides for all regular accounts, as well as restricted funds, which are neither

income, nor expense to the church, but have been designated for a specific use. The

General Ledger module is required to be set up before any other module in the Financial

Suite can be used.

With the General Ledger module, you can:

• Track income and expenses

• Create budgets

• Project cash flow

• Monitor spending

• Provide financial accountability for your organization

The ACS Financial Suite uses a double-entry accounting system. Each transaction includes entries

in at least two accounts – both debit and credit entries.

General Ledger is specifically designed for not-for-profit organizations. It provides an Analysis of

Revenues and Expenses report rather than a Profit and Loss Statement. It also uses Restricted

Accounts, sometimes called Designated Funds.

ACS is totally compliant with the Generally Accepted Accounting Principles (GAAP) as

established by the Financial Accounting Standards Board (FASB).

General Ledger can give you the flexibility to create multiple views of your chart of accounts.

This allows you to summarize or combine information for some accounts for general reports,

while maintaining detailed reports for other audiences.

ACS offers extensive budgeting capabilities, including the ability to export to and import from

Microsoft® Excel®.

The ACS General Ledger module allows you to set up an unlimited number of checking accounts,

perform check reconciliation, and create multiple “checking accounts” in the general ledger,

while maintaining only one physical bank account.

ACS gives you user security controls to limit the functions a user can access. You can also limit

users to specific organizations, funds, departments, committees, or areas, preventing access to

confidential information.

If you have key reports that you run every month, you can identify these as “Month End

Reports”, and print them all in a single batch.

ACS General Ledger supports

The ACS General Ledger module also supports the use of multiple datasets. These multiple

datasets can have their own charts of accounts and funds, and even operate in different fiscal

years.

In the ACS General Ledger module, you can print checks from ACS. You can also customize the

check layout so it prints exactly how you want it to.

The General Ledger module is

made in the Accounts Payable, Accounts Receivable, Payroll, Fixed Assets

Contributions modules.

Terminology

Chart of Accounts: A list of all the General Ledger

Funds: Used to create a separate set of books, such as a General Fund or a Building Fund. While

funds share the chart of accounts, each fund maintains its own fund principal account between

years.

Unit 1: Understand

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ACS General Ledger supports Fund Accounting with automatic fund balancing capabilities.


own charts of accounts and funds, and even operate in different fiscal


check layout so it prints exactly how you want it to.

The General Ledger module is the key component of the ACS Financial suite. It receives entries

made in the Accounts Payable, Accounts Receivable, Payroll, Fixed Assets; and, if interfaced,

A list of all the General Ledger accounts tracked in ACS.

: Used to create a separate set of books, such as a General Fund or a Building Fund. While



with automatic fund balancing capabilities.


own charts of accounts and funds, and even operate in different fiscal


the key component of the ACS Financial suite. It receives entries

and, if interfaced,

: Used to create a separate set of books, such as a General Fund or a Building Fund. While


Accounting Cycle

An accounting cycle

closed at the end of each cycle.

Cycle of Calendar vs. Fiscal

Calendar Year – January through Decembe

Fiscal Year – any 12-month Period

Terminology

Accounts: Records of financial

shows inflow and outflow of dollar amounts

Figure


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accounting cycle is a set period of time used in financial tracking. B

closed at the end of each cycle.

Cycle of Calendar vs. Fiscal

January through December

month Period

financial transactions for one specific portion of an organization

shows inflow and outflow of dollar amounts.

Figure 7: Accounting Cycles for ACS Modules


e used in financial tracking. Books are

ific portion of an organization, which


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Menu Options in ACS Financial Suite

You have two different menu options for accessing ACS Financial Suite functions.

The Classic menu and the Workbench menu are simply two ways you can use the program. ACS

Financial Suite is installed for new users with the Workbench menu set as the default menu.

Figure 8: The Workbench Menu

The WorkBench menu, shown in Figure 8 above, organizes functions by frequency of use and

action type.

• The Lookup section gives you quick access to a vendor, customer, or employee record.

• In the Transactions section, you add Accounts Payable invoices and checks, Accounts

Receivable invoices and checks, Payroll checks, and other transactions.

• The Run Inquiries section gives you quick access to information regarding balances for

accounts, vendors, customers, and employees.

• The Generate Reports section contains links to the reporting tools and labels. If you

have set up certain reports to run at the end of the month, you can access them from

the Month End Reports tab.

• The My Shortcuts section allows you to create up to six shortcuts to specific areas in the

software or to ACS links on the Internet.


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• The Advanced Tools section contains utilities and other functions that, though not used

as often, are critical to the configuration and maintenance of your software.

Figure 9: The Classic Menu

The Classic menu, as shown in Figure 9 above, uses tabs to distinguish between ACS products,

with buttons on each tab representing the functions connected with that product.

To display the Classic menu

1. At the top of the window, click Advanced Tools.

2. In the My Preferences window, select the Classic Menu style.

3. Click OK.


28

Figure 10: Selecting the Classic Menu option

To display the Workbench menu

1. On the ACS menu bar, click Utilities.

2. Click My Preferences.

3. Under My Menu Style, select Workbench.

4. Select a menu save option.

• To use system defaults, select Use Defaults.

• To create your own defaults, select the items for each list that you want

then click Use Current Configuration in the Menu Save Option list.

• To keep your menu selections for each time you open ACS, select Save

Configuration when Menu closes in the Menu Save Option list.

5. Click OK.

In addition to selecting the menu style, My Preferences also allows you to make other changes

to your ACS profile.

To change your password

1. Click My Preferences on the Advanced Tools section of the Workbench view.

2. Click Change Password.

3. Enter your current password.


29

4. Enter your new password in the New Password field and the Confirm New Password

field.

5. Click OK.

Figure 11: The Change Password window

My preferences can help you make name look up and other grids easier to read by adding color

to alternating lines, as shown in Figure 12, below.

Figure 12: Selecting a Color for Alternating Rows


30

To add color to alternating lines

1. In the My Preferences window, select Use Alternating Row Color.

2. Select a color from the drop-down list.

3. Click OK.

Figure 13: An Example of Alternate Row Colors

To set the default interface for new users, or reset the interface for existing users, use the

options in Menu Style for New Users section.

Figure 14: Menu Style for New Users

To speed up actions selected from drop-down menu items, select One-Click Navigation for Drop

Down items. Using this option launches a task as soon as it is selected in a list. (If the option is

not selected, you must select the item in the list, then click Go to launch it.)

Figure 15: Selecting One-Click Navigation

Click OK once you have completed selecting the option you want in the My Preferences window.

Decisions and Directions

Before you can fully roll out ACS to your staff, there are some questions that must be

answered and some decisions that you must make:

• Will you operate on a Cash or Accrual basis?

• Who makes that decision?

• Will you manage multiple sets of books?

• Will you track these books as funds or in separate datasets?

• Who needs to use the system? Make a list of the staff members and volunteers that

need access to the ACS for Windows financial software.

• What part(s) of the system does each user need to access?

Useful Information

If a church and a school have unique Federal ID numbers or they operate on different

fiscal years, you should set them up as separate data sets;

up using funds.

Churches operating in a multi

financial data by campus.

For each user in the list you created, identify the key product areas and functions for

which they need access in the software. This helps to sha

user account.


31

Decisions and Directions


answered and some decisions that you must make:

Will you operate on a Cash or Accrual basis?

Who makes that decision?

Will you manage multiple sets of books?

Will you track these books as funds or in separate datasets?

Who needs to use the system? Make a list of the staff members and volunteers that

need access to the ACS for Windows financial software.

f the system does each user need to access?

Useful Information


set them up as separate data sets; otherwise you can set them

Churches operating in a multi-campus environment may also want to use funds to track

financial data by campus.


need access in the software. This helps to shape the security settings of their

Understanding ACS Financials


Who needs to use the system? Make a list of the staff members and volunteers that


you can set them

campus environment may also want to use funds to track


pe the security settings of their

Exercises


1. From the Workbench Menu, under Advance Tools and Settings, select

2. Click Add, add the user ACS4, password winacs

3. Log out of acs and log back in using ACS4. (Note, this will log you in using the Classic

Menu which is discussed later on in this chapter).

4. Click on the various module tabs located at the top of the screen.

5. Notice the unavailability of each.

6. Log out of ACS.

7. Log back into ACS using the user name,

Transactions

Let’s see what we’ve learned by filling in the answers to these practice transactions. On the first

line of each transaction, show the type of account that is debited and

line, show whether it is an increase on both sides, a decrease on both sides, or an increase and a

decrease.

1. You have received cash (or checks) from the Sunday offering which will be deposited in

the bank -

Debit ____________ This is a/an ____________

2. You receive a bill from the Electric Company and will write a check for the bill.

Debit ____________ This is a/an ____________

3. Record the entry to transfer Kids Camp budgeted expense to cover overage in restricted

Camp Account. The cash for both expenses and restricted are in the same cash account.

Journal Entry from Kids Camp Expense to Kids Camp Restricted.

Debit ____________ This is a/an ____________

4. It’s time to make the payroll tax deposit to the bank for taxes that have been

withheld from employee’s payroll checks.

Debit ____________ This is a/an ____________


32


From the Workbench Menu, under Advance Tools and Settings, select

, add the user ACS4, password winacs – with rights to the General Ledger only.

Log out of acs and log back in using ACS4. (Note, this will log you in using the Classic

Menu which is discussed later on in this chapter).

Click on the various module tabs located at the top of the screen.

Notice the unavailability of each.

Log back into ACS using the user name, ACS and the password, WINACS


line of each transaction, show the type of account that is debited and credited. On the second


You have received cash (or checks) from the Sunday offering which will be deposited in

____________ and Credit ________________________ and a/an ____________

You receive a bill from the Electric Company and will write a check for the bill.


Record the entry to transfer Kids Camp budgeted expense to cover overage in restricted


Journal Entry from Kids Camp Expense to Kids Camp Restricted.


It’s time to make the payroll tax deposit to the bank for taxes that have been

withheld from employee’s payroll checks.

____________ and Credit ____________ ____________ and a/an ____________


From the Workbench Menu, under Advance Tools and Settings, select Admin Utilities.

with rights to the General Ledger only.

Log out of acs and log back in using ACS4. (Note, this will log you in using the Classic

WINACS.


credited. On the second


You have received cash (or checks) from the Sunday offering which will be deposited in

____________

____________

You receive a bill from the Electric Company and will write a check for the bill.

____________.

____________.

Record the entry to transfer Kids Camp budgeted expense to cover overage in restricted


____________. ____________.

It’s time to make the payroll tax deposit to the bank for taxes that have been

____________ . ____________.


33

5. A deposit was made to the General Tithes & Offerings line item but it should have been

posted to Building Offerings. Building Offerings are maintained in a restricted account

but the cash is together with the General Fund. The journal entry to correct will be:

Debit ____________ and Credit ____________.

This is a/an ____________ and a/an____________ .

Unit 2: Setting Up the General Ledger

34

Unit 2: Setting Up the General Ledger This section will cover the setup and basic operations of the General Ledger Module. Setup

defines the defaults for the fund principal, format of account numbers, and transaction options.

We will discuss:

• Configuring the General Ledger

• Setting the General Ledger defaults

• Setting up Account Numbers

• Defining Defaults through Transaction Setup

• Setting up Defined List: Funds, Departments, Committees, Bank Accounts, etc.

• Understanding Chart of Account Views and Structures

• Working with Budgets


35

Configuring the General Ledger

Configuration - In order to begin using your General Ledger software, you will need

to complete some basic configuration. There are nine areas:

• General Ledger defaults

• Bank Accounts (Defining Lists)

• Funds (Defining Lists)

• Departments, Committees, Areas, and Projects as necessary (Defining Lists)

• Transaction Sources (Defining Lists)

• Chart of Accounts setup

• Budget input

• Beginning Balances input

• Check Layout Design editing

Before setting the General Ledger defaults, you must give some thought to the chart of

accounts. The chart of accounts is the official set of accounts that constitutes the general ledger.

It is made up of two components: headings and accounts.

• Headings make up the outline of the chart of accounts and define the accounts that are

placed under them. ACS provides nine major headings. Under these headings, you can

create up to four additional levels of subheadings.

• The individual accounts are numbered and organized. Numbering helps to classify the

accounts by type and can decrease the amount of time it takes to enter transactions.

• You can design the account number structure (called the mask) according to your

preferences.


36

It is important to organize your accounts in a logical manner. Organizing your accounts makes it

easier to locate an account in the ledger. One way to accomplish this is to base the first

character in the account number according to the account type, as shown in Table 6, below.

Table 6: Account Organization

Leading Digit Account Type

1 Asset

2 Liability

3 Fund Principal

4 Revenue

5 Expense

6 Other Revenue

7 Other Expense

8 Temporary Restricted

9 Permanent Restricted


37

General Ledger Setup

You can define the defaults for the Fund Principal format of account numbers and

transaction types in the Advance Tools section of the Workbench menu by clicking the Settings

tab, and selecting General Ledger from the drop-down list as shown in Figure 16 below.

Figure 16: Selecting the General Ledger on the Workbench Menu

Figure 17: The General Ledger Setup Window

• If you activate Auto Fund Balancing on the Transaction Setup tab, this account must be

one not assigned to any fund.

• Changing G/L Period, changing from Calendar to Fiscal or vice versa, can only be done if

there are no open transactions.

• The system’s closing account, Fund Principal, must be entered on this screen. If have

only one fund, this is normally the closing account for that fund.

• The Current Month/Year is the accounting month and year you begin to use the General

Ledger Module. You will enter beginning balances (ending balances from your old

system) in this month. You may elect to

beginning work, enter beginning balances and close the month and/or year. This will

give more accurate reports in your first actual month on the system.

• The Starting Month is the first month of your accounting

Calendar Year this will be January.

Fiscal versus Calendar Year

• A calendar Year runs January through December

• Contributions are tracked on a calendar year basis so that IRS reports can be made for

donors.

• A fiscal year is the church or organization’s annual Accounting cycle.

• It can cover any 12-

Example: A school, the fiscal year might run July through June so that revenues and

expense reporting more closely parallels the sch

Useful Information

It can be helpful to make a note to return to the setup window to enter the Fund Principal

Account once you have finished entering you Chart of Accounts.


38

The system’s closing account, Fund Principal, must be entered on this screen. If have

is is normally the closing account for that fund.

The Current Month/Year is the accounting month and year you begin to use the General


system) in this month. You may elect to set your current month to the month


give more accurate reports in your first actual month on the system.

The Starting Month is the first month of your accounting year. If you operate on a

Calendar Year this will be January.

Fiscal versus Calendar Year

A calendar Year runs January through December

Contributions are tracked on a calendar year basis so that IRS reports can be made for

church or organization’s annual Accounting cycle.

-month period and is not necessarily a calendar year.


expense reporting more closely parallels the school year.

Useful Information


Account once you have finished entering you Chart of Accounts.


The system’s closing account, Fund Principal, must be entered on this screen. If have

The Current Month/Year is the accounting month and year you begin to use the General


set your current month to the month prior to


year. If you operate on a

Contributions are tracked on a calendar year basis so that IRS reports can be made for

month period and is not necessarily a calendar year.




39

Account Setup

In this section we well walk through setting up and editing the Chart of Accounts.

We will also walk through printing worksheets to assist you with the creation of your Chart of

Accounts.

• Account Setup determines the number of characters and kinds of characters that you

can use in your account numbers. This is referred to as your account mask.

• All digits of an account mask must be keyed in when entering any account number (i.e.,

leading zeros they must be typed in).

• An account mask can be changed at any time. If the chart of accounts has already been

entered, a new account number matching the new mask must be keyed in for each

existing number.

• Changing the account mask takes any transaction attached to the previous number to

the new number.

To change an Account Mask

1. In the General Ledger module, under Advance Tools and Settings, select General

Ledger.

2. Click the Account Setup tab.

3. Click Update.


40

Figure 18: General Ledger Account Setup

4. Enter the new account mask you want to use and click Next.


41

Figure 19: Modifying the Account Mask

5. If you have existing account numbers, select the first account number and enter the

new account number in the New Account Code field, match the new account mask.

6. If you do not have existing account numbers, click Finish.

Figure 20: Account Mask


42

• If you have existing account numbers, select the first account number and enter the

new account number in the New Account Code field, matching the new account mask.

• Repeat this step for each account number in your chart of accounts. (The example

below shows an account mask changing from #-###### to ####)

• When changing the Account Mask, you should set aside enough time to complete the

entry of new account codes to match the new mask all at one time.

• When all account numbers are updated, click Finish. Finish cannot be selected until all

new account codes have been entered.

• Previous clears any new codes you may have just keyed in.

Figure 21: Chart of Account Mask

7. Click Close.

Figure

Useful Information

Clicking Previous clears any new numbers you may have just keyed in.

Finish cannot be selected until all accounts have been entered.


43

Figure 22: General Ledger Chart of Account Format

Useful Information

Previous clears any new numbers you may have just keyed in.

selected until all accounts have been entered.



44

Transaction Setup

The Transaction Setup sets defaults that determine how the system will work.

Figure 23: General Ledger Transaction Setup

• Auto Fill Payee Amount and Auto Print Checks after entry will only apply to those

without the Accounts Payable module who are entering and/or printing checks through

the Enter Check option in General Ledger.

• Projects in Use allows you to track the specific revenues and expenses of a project when

the amounts are posted to multiple accounts. This flag must be turned on and the

project set up under Add/Edit Lists before it can be used for posting.

• Line Item Comment in use allows entry of a specific comment for each individual line of

a transaction.

• Warn if Crossing Funds causes a warning message to be generated if you attempt to

enter a transaction that crosses funds (i.e., a debit to Fund 1 and a credit to Fund 2). If

necessary, this warning can be overridden.

• Warn if Duplicating Reference Number causes a warning message to be generated if you

attempt to enter a reference number that has already been used for that source. If

necessary, this warning can be overridden.

• Allow Posting to Prior Periods allows posting to a month (or Year) prior to the current

accounting month. Transactions can be posted to the current or a future month.

• Default Source for Transactions determines the default that will automatically be

selected when in Enter/Post Transactions.

• Insert Decimal determines how the system will recognize dollar amounts entered. With

this option turned on, when you key in 200, the system assumes two decimal places and

translates the number to 2.00. With this

and two zeros and translates the number to 200.00.

• For Auto Fund balancing, the system account must be entered on the Transaction Setup

tab in Setup, and the fund accounts under Add/Edit Lists, Funds.

• Automatic Fund Balancing will automatically create and post a balancing transaction to

correct an out of balance when posting.

• All posting to 13th month will allow adjusting entries to post to the closing month

Before entering a Chart of Accounts, ACS

want the Chart of Accounts to look. Below are the steps to print two worksheets that you can

use in planning your Chart of Accounts.

Useful Information

You can click F1 on your keyboard to access help

To print the Chart of Accounts

1. Click the Help button at the top of your screen.

2. Click Contents F1.


45

Default Source for Transactions determines the default that will automatically be

selected when in Enter/Post Transactions.

Insert Decimal determines how the system will recognize dollar amounts entered. With


translates the number to 2.00. With this option turned off, the system adds the decimal

and two zeros and translates the number to 200.00.

For Auto Fund balancing, the system account must be entered on the Transaction Setup

tab in Setup, and the fund accounts under Add/Edit Lists, Funds.

ic Fund Balancing will automatically create and post a balancing transaction to

correct an out of balance when posting.

month will allow adjusting entries to post to the closing month

Before entering a Chart of Accounts, ACS Technologies recommends that you outline how you


use in planning your Chart of Accounts.

Useful Information

You can click F1 on your keyboard to access help files.

Chart of Accounts Worksheets

button at the top of your screen.

Figure 24: Accessing the Help Menu


Default Source for Transactions determines the default that will automatically be

Insert Decimal determines how the system will recognize dollar amounts entered. With


option turned off, the system adds the decimal

For Auto Fund balancing, the system account must be entered on the Transaction Setup

ic Fund Balancing will automatically create and post a balancing transaction to

month will allow adjusting entries to post to the closing month.

Technologies recommends that you outline how you



46

3. Click the Index tab.

4. Double-click Worksheets, Chart of Accounts.

Figure 25: Accessing the Help Center Index

5. Double-click To Print a Worksheet to display the PDF files.

Figure 26: Printing PDF Worksheets


47

Figure 27: The Four PDF Worksheets


48

Accounting Worksheet I provides you with a blank form to write all your headings and

subheadings on.

Figure 28: Account Type Worksheet

The Chart of Accounts Worksheet provides you with a blank form to track your

on.

Figure

You can click on the PDF icons to view the sample worksheets.

Useful Information

ACS Technologies recommends using the worksheets or plain paper to outline the headi

account numbers you want to use. This saves time when entering your chart of accounts into

ACS Financial Suite.


49

The Chart of Accounts Worksheet provides you with a blank form to track your

Figure 29: Account Information Worksheet

You can click on the PDF icons to view the sample worksheets.

Useful Information

ACS Technologies recommends using the worksheets or plain paper to outline the headi



The Chart of Accounts Worksheet provides you with a blank form to track your account numbers

ACS Technologies recommends using the worksheets or plain paper to outline the heading and


Terminology

Define Lists – defines the various lists that will be available for use in the General Ledger (i.e.

Funds, Departments, Committees, Areas 1 and 2, Projects, Bank Accounts and Projected

Budgets.)

Add/Edit Chart of Accounts

headings, and accounts.

Add/Edit Budgets – allows you to enter budget information for t

Enter/Post Transactions – allows entry of transactions that are not being posted from another

module.

Enter Checks – allows entry and, if needed, printing of checks from within the General Ledger.

Reports – includes access to all General Ledger, Accounts Payable, and Account Receivable

report options.

Inquiry – offers lookup of activity within a General Account number.

Year-End Procedures – closes the books at the end of the 12

The system closing the account must be entered in this area. If you have only one fund, this is

normally the closing account for that fund. The current month/year is the accounting month and

year you begin to use your system

your old system) in this month. The starting month is the first month of your accounting year. If

you operate on a Calendar Year, this will be January.


50

defines the various lists that will be available for use in the General Ledger (i.e.

Committees, Areas 1 and 2, Projects, Bank Accounts and Projected

Add/Edit Chart of Accounts – allows you to enter the structure of your account headings, sub

allows you to enter budget information for the current year or future year.

allows entry of transactions that are not being posted from another

allows entry and, if needed, printing of checks from within the General Ledger.

o all General Ledger, Accounts Payable, and Account Receivable

offers lookup of activity within a General Account number.

closes the books at the end of the 12th month of your accounting year.

account must be entered in this area. If you have only one fund, this is


year you begin to use your system. You will enter beginning balances (the ending balances from


you operate on a Calendar Year, this will be January.


defines the various lists that will be available for use in the General Ledger (i.e. –

Committees, Areas 1 and 2, Projects, Bank Accounts and Projected

allows you to enter the structure of your account headings, sub-

he current year or future year.

allows entry of transactions that are not being posted from another

allows entry and, if needed, printing of checks from within the General Ledger.

o all General Ledger, Accounts Payable, and Account Receivable

month of your accounting year.

account must be entered in this area. If you have only one fund, this is


. You will enter beginning balances (the ending balances from


Define Lists

Define lists is designed

as Funds, Departments, Committees

Useful Information

For ACS to recognize an account as a checking account, you must attach the checking account to

a bank account.

Funds

Funds in the General Ledger are basically sets of books. Each fund has its own Assets, Liabilities,

Fund Principal, Revenue, Expense, and perhaps, Restricted Accounts. You can print reports by

Fund – either one at a time or consolidated.

In Figure # below, the churc

balance, total revenue, total expense and ending balance. It is a separate set of books with its

own assets, fund principal, one or more revenue accounts and multiple expense accounts.

the end of the year the difference between revenue and expense will zero out and roll into the

fund principal account when the books are closed.

To add Funds in General Ledger Lists

1. From Advanced Tools

2. Select General Ledger


51

Define lists is designed to organize the chart of accounts, you can use such elements

as Funds, Departments, Committees, and Areas.

Useful Information


he General Ledger are basically sets of books. Each fund has its own Assets, Liabilities,


either one at a time or consolidated.

In Figure # below, the church’s building fund is not just a designated account tracking beginning


own assets, fund principal, one or more revenue accounts and multiple expense accounts.


fund principal account when the books are closed.

Figure 30: Defining Lists

d Funds in General Ledger Lists

Tools, click the Define Lists tab.

General Ledger from the drop-down list.


to organize the chart of accounts, you can use such elements


he General Ledger are basically sets of books. Each fund has its own Assets, Liabilities,


h’s building fund is not just a designated account tracking beginning


own assets, fund principal, one or more revenue accounts and multiple expense accounts. At


Figure 31

3. Select Funds.

4. Click Add.

Useful Information

Even if you only have one set of books, ACS Technologies recommends that you enter at least

one Fund into the General Ledger for your organization.


52

31: Accessing General Ledger from Workbench

Figure 32: Defining Lists

Information


one Fund into the General Ledger for your organization.



5. Enter a three-digit Fund Code

6. Click OK. Repeat Steps 3 through 5 for each fund you are adding.

Useful Information

Once a Fund Code is added, you cannot change the code. However, you can edit all other fields

including Fund Description. After adding your Fund Principal account to the

you will need to come back and edit the Fund to add this information.

Departments

Departments can be used to separate out certain accounts or groups of account for reporting

purposes.

Departments might be tied to the main sections of

Revenue and Expense Report specifically for one of those sections.

Departments might also be used to bring together accounts that are scattered throughout the

chart of accounts for a particular area of Ministry (

Education Department, etc.)

The description of a Department can be edited or the Department can be deleted, if it is not

being used, however, the Department Code itself cannot be changed. This is also true of oth

groupings set up under Add/Edit Lists.


53

Figure 33: Entering the Fund Code

Fund Code.

. Repeat Steps 3 through 5 for each fund you are adding.

Useful Information

Once a Fund Code is added, you cannot change the code. However, you can edit all other fields

. After adding your Fund Principal account to the Chart of Accounts,

you will need to come back and edit the Fund to add this information.

can be used to separate out certain accounts or groups of account for reporting

Departments might be tied to the main sections of the chart of accounts in order to print the

Revenue and Expense Report specifically for one of those sections.


a particular area of Ministry (e.g., Music Department, Youth Department,

Education Department, etc.).


being used, however, the Department Code itself cannot be changed. This is also true of oth

groupings set up under Add/Edit Lists.


Once a Fund Code is added, you cannot change the code. However, you can edit all other fields,

Chart of Accounts,

can be used to separate out certain accounts or groups of account for reporting

the chart of accounts in order to print the


., Music Department, Youth Department,


being used, however, the Department Code itself cannot be changed. This is also true of other


54

The use of Departments is optional.

To add Departments

1. From Advance Tools, click the Define Lists tab.

2. Select General Ledger from the drop-down list.

3. Click Departments.

4. Click Add.

Figure 34: Defining Lists - Departments

5. Enter a three-digit department code.

6. Click OK or Add Another.

Figure 35: Entering Department Codes

Committees

Committees, Area 1, and Area 2, are three additional ways accounts can be coded in order to be

able to separate them out for reporting purposes.

To add Committees, Area 1, or Area 2



3. Select the desired option (Committees, Area 1, or Area 2).

4. Click Add.

5. Enter a three-digit Department Code and a Department Description.

6. Click Ok or Add Another.


55

Figure 36: Defining Lists - Committees

Example - a Local Benevolence account might be assigned to the Missions Department, a

Benevolence Committee and the Senior Pastor (Under Area 1). Each of these assignments

determines whether or not the Local Benevolence account prints on a report, depending on

what Department, Committee, or Area 1 was chosen.

Projects

Multiple projects can be tracked from within a single General Ledger account or a single project

can be tracked from multiple General Ledger accounts.

To add Projects



3. Select Projects.

4. Click Add.

5. Enter a three-digit Project Code

6. Optional: Enter the

7. Click Ok.

Default Sources are included in the system.

eight Source Types that are system defined. N

additional Sources can be added if needed.

Bank Accounts

Bank Accounts are entered in setup

bank accounts you set up in ACS should match the number of accounts you actually have at the

bank. A Bank Account can be tracked on the Chart of Accounts as

(e.g., Operating and Restricted).

Useful Information

Bank accounts are physical accounts at the bank your organization does business with. The

number of Bank Accounts you set up in ACS General Ledger should match the number of

accounts you actually have at the bank.


56

Project Code and a Project Description.

Optional: Enter the Projected Revenues and Projected Expenses.

Figure 37: Defining Lists – Projects

Default Sources are included in the system. Each Source is tied to a Source Type. There are

eight Source Types that are system defined. No additional Types can be added;

additional Sources can be added if needed.

are entered in setup and are the physical accounts at the bank.


A Bank Account can be tracked on the Chart of Accounts as multiple checking accounts

, Operating and Restricted).

Useful Information



accounts you actually have at the bank.


Each Source is tied to a Source Type. There are

o additional Types can be added; however,

ts at the bank. The number of


multiple checking accounts




57

To add Bank Accounts



3. Select Bank Accounts and click Add.

4. Enter a three-digit Bank Code and a name for the Bank Account.

5. Enter information in the appropriate fields on the Bank Account tab.

Figure 38: Defining Lists - Bank Accounts

6. Click Additional Information to enter the following additional information:

a. Next Check Number — Enter the next check number for printing.

b. Next ACH/Online Ref. # — Enter the next available ACH/online reference

number.

c. Print AP Check Copy — Select to print a copy of the Accounts Payable check.

d. Comment — If necessary, enter a comment for the account.


58

Figure 39: Add/Edit Bank Accounts

7. Click ACH Setup to enter setup information for ACH fund transfers.

8. Check Enable ACH?

9. Enter the required information.

Figure 40: Add/Edit Bank Accounts - ACH Setup

Useful Information

Before setting up ACH, ACS recommends

that they accept ACH information. ACS uses a NACHA format for the ACH file. To use ACS to

process ACH Payments, the bank must

information from your bank: the Company/Originator

Company ID must be 10-digits.

must enter a 1 at the beginning of the number)

Separate Destination Bank, and if they do,

destination bank. Ask the bank representative if they require a Balanced File,

needs to be filled with 9’s to designate the end of the file.

Terminology

ACH – Automatic Clearing House

provide your organization with the option of electronically depositing payroll checks and

payments for employees and vendors who choose to participate

get pertinent transmission information.


59

Useful Information

Before setting up ACH, ACS recommends that you speak with a bank representative and verify


process ACH Payments, the bank must also use this format. You will need to obtain the following

bank: the Company/Originator routing number and the Company ID

digits. If the bank is using a 9-digit Federal Tax ID number, then you

must enter a 1 at the beginning of the number). You will also need to know if the bank uses a

eparate Destination Bank, and if they do, you will need the same information from the

destination bank. Ask the bank representative if they require a Balanced File, and if the file

needs to be filled with 9’s to designate the end of the file.

Automatic Clearing House (Direct Deposit). The Payroll and Accounts Payable modules

your organization with the option of electronically depositing payroll checks and

payments for employees and vendors who choose to participate. You must contact your bank to

get pertinent transmission information.


you speak with a bank representative and verify


need to obtain the following

and the Company ID (the

digit Federal Tax ID number, then you

You will also need to know if the bank uses a

information from the

and if the file

ccounts Payable modules

your organization with the option of electronically depositing payroll checks and

You must contact your bank to


60

Account Structures and Views

The Chart of Accounts is the official set of accounts that constitutes the General

Ledger. The Chart of Accounts is made up of two components: Headings and Accounts. Headings

make up the outline of the Chart of Accounts and define the accounts that are placed under

them. ACS provides nine major headings. These cannot be deleted, even if some of them are not

being used. Under these heading, you can create up to four additional levels of subheadings

(e.g., Assets, Current Assets, and Checking). Any heading without accounts listed under it will

not print on reports.

To Add a Heading

1. Click Add Heading.

2. Enter the Heading Name.

Figure 41: Adding an Account Heading

3. Click OK.

To add a Sub-Heading

1. Click Add Sub-Heading

2. Enter the sub-heading name.

3. Click OK.

Figure

Useful Information

If a subtotal is selected, the accounts under it can be rolled into one total on the Detailed

Analysis of Revenues & Expenses, Balance Sheet, Balance Sheet Analysis, Statement of Financial

Position, and summary of Restricted Accounts Reports.

The Omit from Sources and Uses

under that heading will not print on the Sources and Usage Report. It is possible that this could

create an out of balance situation on the report.


61

Heading.

heading name.

Figure 42: Add New Account Sub-Heading

Useful Information

subtotal is selected, the accounts under it can be rolled into one total on the Detailed


Position, and summary of Restricted Accounts Reports.

ces and Uses Reports flag is checked on an asset or liability. T


create an out of balance situation on the report.


subtotal is selected, the accounts under it can be rolled into one total on the Detailed


hecked on an asset or liability. The accounts



62

In Figure 43 below, the General Ledger is keeping books for three funds: Church Fund, Building

Fund, and Day Care/Primary School Fund. The accounts are being numbered with the fund

number to the left of the dash. (1, 2, 3)

Figure 43: General Ledger Chart of Accounts

Restricted accounts are being tracked as a part of the Church Fund, but a separate checking

account reflects the balance in the restricted accounts. The General Checking Restricted

Checking and Building Checking are all a part of the same physical bank account.

The individual accounts are numbered and organized, which helps classify the accounts by type

and can accelerate transaction entry times. You can design account number structures (called

the mask) according to your preferences.


easy to locate an account in the ledger. One way to accomplish this is to base the first character

in the account number according to the accoun

Leading Digit

1

2

3

4

5

6

7

8

9

Useful Information

If you have more than one fund, you can use a leading digit followed by a period (.) or a dash (

to visually indicate which fund the account belongs to. The rest of the account number,

following the symbol, can begin with one of the leading digits feature


63



in the account number according to the account type.

Table 7: Organizing Accounts

Leading Digit Account Type

Asset

Liability

Fund Principal

Revenue

Expense

Other Revenue

Other Expense

Temporary Restricted

Permanent Restricted

Useful Information

you have more than one fund, you can use a leading digit followed by a period (.) or a dash (


following the symbol, can begin with one of the leading digits feature in Table 7.




you have more than one fund, you can use a leading digit followed by a period (.) or a dash (-),


in Table 7.


64

Once your headings and subheadings are set up in General Ledger, you can begin adding

accounts.

To add an Account

1. On the General Ledger menu, select Add/Edit Chart of Accounts.

2. Select the heading under which you want to add an account.

3. Click Add.

4. Enter an Account Code and Name.

5. Select the Department, Fund, Committee or Area.

6. Select the Checking option.

7. Select a Bank Account from the drop-down list.

8. Click OK.

Figure 44: Adding a New Account to the General Ledger

Useful Information

When setting up your chart of accounts, you can set up multiple checking or savings accounts

and associate them with a single bank account. This allows you to reconcile a single bank

account, while keeping separate

Verify the heading you want to add an account

the Assets heading, and once you post a transaction to the account, you cannot move the

account to a heading associated

To delete a heading or sub-

the heading.


65

Useful Information



account, while keeping separate checking accounts in ACS at the same time.

you want to add an account to before clicking Add Account. ACS defaults to


account to a heading associated with a different account type.

-heading, you must first remove any accounts or sub




. ACS defaults to


heading, you must first remove any accounts or sub-headings under


66

Entering Budget Information

Budgets are revenue and expense estimates used for planning. Throughout the year,

you can compare budgeted goals with actual fiscal performance to determine your progress.

Budgets can be entered for revenue and expense accounts either by the year or by the month

(current or future). You can enter them one account at a time or by grid, by the month or year.

You can use a different method for every account.

If you choose to enter a monthly budget for an account, you can budget different amounts for

each month. If you choose to enter an annual budget for an account, the budget is dispersed

depending on the distribution option you select. You can use one of four different methods to

enter budget information in ACS.

Figure 45: Adding a Budget when Adding an Account

To add a Budget when adding an Account

1. After entering the account number and description, click the Budget tab or Budget

button to enter the budget information for the account.

2. Select to enter the budget information By Month or By Year.

3. Enter the amounts.


67

4. Click OK.

Figure 46: Adding a Budget by Month


68

Figure 47: Adding an Annual Budget

To add a Budget from the Workbench Menu

1. Under Manage Manages, click the Budgets tab.

2. Select to enter the budget information By Month or By Year.

3. Enter the amounts.

4. Click OK.

Figure 48: Adding/Editing a Budget from the Workbench Menu


69

To add a budget by exporting the accounts to Microsoft® Excel® and then importing back to ACS

1. From Add/Edit Budgets, click Start Excel.

Figure 49: Starting Excel from Add/Edit Budgets

2. Click Locate and select the Excel.exe using the locate button.

Figure 50: Locating the Excel.exe file

3. In the Export/Import field, select Monthly Budgets or Annual Budgets from the drop-

down list.

Figure 51: Choosing to Import Monthly or Annual Budgets

4. Select the Export Year of the budget you want to export.

Figure 52: Selecting the Export Year

5. Using the Account Filters

Figure

6. Click Export Data.

Useful Information

When exporting the budget, the Import Year does not have an effect on the file. The same is

true when importing the budget; the Export Year does not have an effect on the file

7. Select a location to save the file.

Unit 2: Setting Up the Gen

70

Account Filters, select the types of accounts to be exported.

Figure 53: Filtering the Account Types for Export

Figure 54: Exporting Data

Useful Information

exporting the budget, the Import Year does not have an effect on the file. The same is

true when importing the budget; the Export Year does not have an effect on the file

Select a location to save the file.


, select the types of accounts to be exported.

exporting the budget, the Import Year does not have an effect on the file. The same is

true when importing the budget; the Export Year does not have an effect on the file.

Figure 55

8. Enter a file name and click

9. Once progress has completed, a confirmation message will display.

Figure

10. Click OK.

Useful Information

An Excel document will open, as shown in Figure 57, and as the progression bar

numbers are added to the document.

If you want to import the information back into ACS, you can ONLY make changes to the

amounts. Any other changes you make will not be imported back into ACS General Ledger.


71

55: Selecting a Location to Save the Export File

Enter a file name and click Save.

Once progress has completed, a confirmation message will display.

Figure 56: Tracking the Progress of the Export

Useful Information

An Excel document will open, as shown in Figure 57, and as the progression bar

numbers are added to the document.


ges you make will not be imported back into ACS General Ledger.


An Excel document will open, as shown in Figure 57, and as the progression bar moves account


ges you make will not be imported back into ACS General Ledger.


72

Figure 57: General Ledger Account Exported into an Excel Document

Once the changes are complete, you can import the information back to ACS.

To Import Data from Excel to ACS General Ledger

1. On the Add/Edit Budgets menu, click Start Excel.

2. Select the Import Year of the budget you want to import.

3. Click Import Data.

Figure 58: Importing Data into General Ledger

4. The progression bar tracks the status of the import. When the confirmation message

displays, click OK.

Figure 59: Tracking Import Progression

5. Select the distribution method for the annual budget.

6. Click OK.


73

Figure 60: Selecting the Distribution Method

7. Select the location where the file is saved and highlight the file.

8. Click Open.

Figure 61: Selecting a Location to Store Import

9. When the confirmation message displays, click OK.


74

Figure 62: Confirming Overwrite

10. In the Status window, click OK. The new budget information has been entered into ACS

General Ledger.

Figure 63: Confirming Import Completion

Another way to enter budget information is to use the Edit by Grid option:

1. On the Add/Edit Budgets menu, click Edit by Grid.

Figure 64: Selecting to Edit By Grid

2. Select the filters to display only the accounts to which you want to add a budget.

3. Select to enter the budget information by Year or by Month.


75

Figure 65: Selecting Filters and Budgeting by Year

Figure 66: Selecting Filters and Budgeting by Month

4. Enter the budget amounts.

5. Click OK.

Lastly, you can copy budget information from year

by a percentage.

To Copy Budgets from Year

1. On the Add/Edit Budget

2. Select the type of budget information you want to copy.

Useful Information

Need more information about the terms used to describe certain accounting principl

listing of definitions is located in the Reference Materials

3. Select the Year to copy the inform

information to.

4. If all of the amounts will increase by the same percentage, enter the percentage

amount.


76

Lastly, you can copy budget information from year-to-year with the same amounts, or increased

To Copy Budgets from Year-to-Year with the Same Amounts

Add/Edit Budget menu, click Copy Budget.

type of budget information you want to copy.

Useful Information

Need more information about the terms used to describe certain accounting principl

located in the Reference Materials.

to copy the information from, and the year you want to add the

If all of the amounts will increase by the same percentage, enter the percentage


year with the same amounts, or increased

Need more information about the terms used to describe certain accounting principles? A full

ation from, and the year you want to add the

If all of the amounts will increase by the same percentage, enter the percentage


77

Figure 67: Copying the Budget

5. Select the filter options to copy information for select accounts.

6. Click OK.

7. An information message displays. Click Yes.

Figure 68: Confirming Budget Copy Overwrite

8. Click OK.


78

Figure 69: Budget Copy Complete

Exercises

Defining Lists

1. If you are on the Workbench menu, Go to Advance Tools, Settings and select Admin

Utilities. If you are on the Classic menu, from the General Ledger tab click Utilities.

2. Click Select Dataset.

3. Choose Add to Create a New Dataset

4. Name the Dataset, Practice Dataset

5. Switch back to Church of Good Training.

6. Go to the Account Setup

numbers. Begin to change 5 accounts. You have decided not to continue with the

change. Click Previous

change an account already setup).

7. Switch back to Practice Dataset.

8. Check Transaction Setup. Make sure: Projects in use, Warn if Crossing Funds, Allow

posting to prior periods are selected.

9. Go into Add/Edit Lists and

called - Training Department. Add a Committee called

Area called - Training Area 1. Add a Project called

$1000 and expenses of $1

10. Add a Bank Account: Bank of Training

• Bank Account #: 123

• Bank Name: First Bank

• 123 Bank Lane

• Anywhere, AW 11000

• Phone #: 803

• Last Statement Date: 3/1/10

• Last Statement Balance: 130,698.89

• Minimum Balance: 1,000.00

11. Additional Information: Next Check Number 150; Next ACH Number 135

12. From ACH Setup, select Enable ACH?

13. Enter ACS Information: Bank RT #: 25317549

• Bank Name: First Bank

• Company/Originator RT#: 77762400

• Company Name: Church of Training

• Company ID: 562213800


79

on the Workbench menu, Go to Advance Tools, Settings and select Admin


Select Dataset.

to Create a New Dataset.

Name the Dataset, Practice Dataset.

Switch back to Church of Good Training.

Account Setup, Click Update. Set the account mask for 5 numeric account

Begin to change 5 accounts. You have decided not to continue with the

Previous to cancel this request. (This is just to show you how you would

change an account already setup).

Switch back to Practice Dataset.

Check Transaction Setup. Make sure: Projects in use, Warn if Crossing Funds, Allow

posting to prior periods are selected.

Go into Add/Edit Lists and setup a Fund for the Church of Training. Add a Department

Training Department. Add a Committee called - Training Committee. Add an

Training Area 1. Add a Project called - Training Project with revenue of

$1000 and expenses of $1500.

Add a Bank Account: Bank of Training

Bank Account #: 123-3987-398

Bank Name: First Bank

123 Bank Lane

Anywhere, AW 11000

Phone #: 803-662-8955

Last Statement Date: 3/1/10

Last Statement Balance: 130,698.89

Minimum Balance: 1,000.00

nformation: Next Check Number 150; Next ACH Number 135

From ACH Setup, select Enable ACH?

Enter ACS Information: Bank RT #: 25317549

Bank Name: First Bank

Company/Originator RT#: 77762400

Company Name: Church of Training

Company ID: 562213800


on the Workbench menu, Go to Advance Tools, Settings and select Admin


et the account mask for 5 numeric account

Begin to change 5 accounts. You have decided not to continue with the

(This is just to show you how you would

Check Transaction Setup. Make sure: Projects in use, Warn if Crossing Funds, Allow

setup a Fund for the Church of Training. Add a Department

Training Committee. Add an

Training Project with revenue of

nformation: Next Check Number 150; Next ACH Number 135


80

14. Do not create a Separate Designation Bank.

15. Do not create a Balance file?

16. Select to send the file two (2) days in Advance.

17. Do not select to fill with 9’s.

Account Structures and Views

Presuming you had to enter the entire chart of accounts, make sure the fund principal for your

new account (Training) is in the Chart of Accounts. Remember, if there is only one fund, this is

normally the closing account for that fund. Once you have completed the Chart of Accounts go

back to GL Setup and:

1. Add the Training Closing Account to the Chart of Accounts and make sure it is attached

to the proper account in Define Lists.

Add the Training Checking Account to your Chart of Accounts. Make sure it is under the

heading: Checking.

2. If you are on the Workbench, under Manage Records, click the Chart of Accounts Tab.

Select Add/Edit Chart of Accounts. If you are on the Classic Menu, in the General

Ledger module, click Add/Edit Chart of Accounts.

3. Click the Headings tab.

4. Select the heading or subheading under which you want to add a subheading.

5. Click Add Sub Heading.

6. Enter the subheading Training.

7. Select any optional settings.

8. Click OK.

Entering Budget Information

1. Enter the Annual Budget for the Church and Building.

2. Export to Excel the 2009 Budget for the Revenue Accounts decreasing them by 3%.

3. Copy the current year budget by for month for the Building Fund Pledge Gifts from the

year 2006 to 2010.

4. View the new budgets.

Unit 3: General Ledger Usage

81


In this section we will walk through basic usage of the General Ledger Module.

We will discuss:

• Enter/Post Transactions

• Enter Checks

• Inquiry

• Reports

• Period End Procedures and Reports


82

Enter/Post Transactions

The Enter/Post Transaction window contains options to handle beginning

balances, regular transactions, memorized transactions, and it displays the current posting

month/year for the General Ledger. The Check Reconciliation option can be accessed from

this window. The Close Current Month option, which changes the default posting month for

transaction in the General Ledger, can also be accessed from this window.

To add a transaction

1. From the Workbench, under Manage Records, select Transactions.

2. Click the down arrow and select General Ledger Transactions.

3. Click Add/Edit Transactions.

Figure 70: The Enter/Post Transactions Window in General Ledger


83

4. Click Add

Figure 71: Add/Edit Transactions Default Window

The default setup for the Add/Edit Transactions window shows open (unposted) transactions in

entry order. On the toolbar at the top of the window, you can click the drop-down list to select

other options regarding which transactions display, the order they are displayed in, or how the

section is filtered.

The selection of All Users or All Periods as well as Posting Month/Year also filters the

transactions that will be displayed. Transactions can be edited or deleted prior to posting.

Bank Transfers should be done from this window and the Zero Check option allows the entry of

checks that may have been destroyed in the printer, but still need to be entered to prevent gaps

in the check register.


84

Figure 72: Add/Edit/Select Memorized Transaction Window

The layout of the window in Figure 72 changes according to the transaction source selected.

When posting a JRE it can be flagged to be included in Check Reconciliation.


85

Figure 73: Transferring Budget Money to a Restricted Account for a Future Purchase

A reference number can be entered or next number can be selected. However, care must be

taken when entering the date of the transaction as well as the posting Month/Year. Whenever a

transaction source is used, the transaction must be in balance before it can be entered – total

debits must equal total credits. The example shown above in Figure 73 shows a transfer of

budget money to a restricted account for the future purchase of choir robes. Once you have

entered all your transactions, you will be prompted to save the transaction.

Figure 74: Saving Record Changes


86

Transactions that need to be entered frequently in the same amount to the same accounts can

be memorized.

Figure 75: Memorizing a Transaction

A description is assigned to the memorized transaction. When the transaction is selected for

entry each month, it is selected from the list of these descriptions.

Figure 76: Using a Memorized Transaction


87

After a proof list is printed and reviewed, transactions must be posted.

Figure 77: Posting Transactions


88

The Proof Lists can be printed with or without detail headers.

Figure 78: Transaction Proof List with Detail Headers

Figure 79: Transaction Proof List without Detail Headers


89

The Posting Journal (or batch journal) shows the detail of debits and credits for all transactions

posted since the last batch was closed. It can be printed based on the choices available on the

screen: a single module or All Modules; the current user or All users; and by Posting Period or

by Batch Number.

Figure 80: The Transaction Posting Journal

Once the Posting Journal has been printed you can close the batch.

Figure 81: Closing the Batch

Figure 82: Batch Closed Confirmation


90

Entering Checks

Checks can be entered and printed directly from the General Ledger. Selecting

Check Printed indicates that the check has already been written and is only being posted into

the General Ledger. If you own the Accounts Payable or Payroll module, ACS Technologies

recommends that you enter, print, post, and void checks in those modules.

To enter a check

1. Under Manage Records, on the Transactions tab, select General Ledger checks from the

drop-down list.

2. Click Go.

Figure 83: Entering Checks through General Ledger

3. Click Lookup to select a checking account to be entered.

4. Make sure the posting month and year is correct and, if necessary, click the up and

down arrows in the Month or Year date box to change the posting period.


91

Figure 84: Entering Check Information

5. If you are entering a hand-written check, select Check Printed. If you are entering a

reconciled check, select Reconciled.

6. On the calendar, click the Down Arrow to enter the check number and the date issued.

7. Enter a payee in the Pay To The Order Of field.

8. Enter the amount of the check in the Amount field, and then enter a description in the

Memo field.

9. Click Lookup to select the general ledger account to debit, and Click OK.

10. Click Yes.


92

Running Inquiries

Running an inquiry allows you to look up detailed transactions by General Ledger

Accounts, by Account Heading, by Bank Account or Payee.

Figure 85: Running an Account Inquiry from the Workbench Menu

Figure 86: General Ledger - Inquiry

By clicking Set Filter, shown at the bottom of the window in Figure 86, allows you to filter the

transactions displayed by Transaction Status or Type, Source Type, dollar amount, etc.

Selecting Balance, located on the upper right corner of the window in Figure 86, allows you to

view month by month totals as well as the current balance for a specific account.

Include Open Transactions, which can be found in the bottom left corner of the window,

includes open transactions in the current balance calculation and in the Account Transactions

window.


93

Reports

The ACS General Ledger module contains many reports that you can print or

preview. These reports include lists, such as a Chart of Accounts or the Bank Accounts List;

journals, such as a Posting Journal or a Check Register; and statements, such as a Balance Sheet

or an Analysis of Revenues & Expenses.

• Prepared reports are available to customize according to your needs.

• A customized report can be saved for later use and becomes a new version of the report.

To Run a Report

1. Under Generate Reports, on the Reports tab, select General Ledger.

Figure 87: Generating Reports from the Workbench Menu

2. Click Go .

3. On the General Ledger Reports window, click the Setup tab to access the available fields

and options for the ACS General Ledger reports.


94

Figure 88: General Ledger Report Options

General Ledger reports include the General Ledger Lists, General Ledger Journals, and General

Ledger Statements.

• General Ledger Lists − These reports provide lists of information primarily entered

through Add/Edit Lists option (i.e., Funds, Departments, Projects, Bank Accounts, etc.).

• General Ledger Journals – These reports provide transaction activity for your financial

organization.

• General Ledger Statements – These reports provide an analysis of current balance

information for your financial organization.

There is a Customize tab for each General report that offers a variety of options, depending on

which report is being printed.

The Selected List options allow you to print reports to include only accounts assigned to specific

funds, departments, committees, etc.

Include Open Transactions allows you to see the effect of transactions that have been entered,

but not yet posted.

Each report gives you a sample of what the report will look like prior to customization. ACS

recommends that you experiment with the various reports to meet the needs of your particular

organization.

Exercises

Entering Checks

1. Enter the following

Ledger on 1/25/10:

a. General Fund

b. Pledge Offerings

c. Youth Camp Scholar Ship

d. Choir Robes

2. Enter and post the transaction.

3. Preview the Posting Journal and Proof List.

4. Set up a memorized transaction for the church’s

$150.

5. Go through the various reports.


95

the following transaction for a Contribution that did not get posted to General

on 1/25/10:

General Fund - $675.

Pledge Offerings - $200.

Youth Camp Scholar Ship - $300.

Choir Robes - $200.

Enter and post the transaction.

Preview the Posting Journal and Proof List.

Set up a memorized transaction for the church’s Phone Bill. The Phone bill is normally

Go through the various reports. Click on Customize and note the options available.


transaction for a Contribution that did not get posted to General

The Phone bill is normally

Click on Customize and note the options available.

Appendix A: Reference Materials

96


This section includes materials for reference and is not intended to be taught in the class. It may

be referred to in the class if appropriate during discussion.

• Understanding ACS Financials

• ACS Fields and Terms

• Working with Budgets


97

Understanding ACS Financials

When changing the Financial Year, you can change your settings from a calendar

year to a fiscal year in ACS General Ledger.

1. Under Advanced Tools on the Settings tab, select General Ledger.

Figure 89: Accessing General Ledger from the Workbench Menu

2. Click Change G/L Period.

Figure 90: Changing the Financial Year in General Ledger

3. Select Fiscal.

4. Enter the beginning month and year of the fiscal year. ACS changes the current

posting period.

5. Click OK.

6. When the confirmation message window displays, click

Figure

Useful Information

If the year is changed in ACS from a calendar year to a fiscal year or from a fiscal year to a

calendar year, print a balance sheet to make sure all accounts are still in balance.

Changing the fiscal year makes the current posting period the 1

Always make a backup before making this change. It would be a good idea to archive your data

prior to changing the financial year. This way you can access the archived dataset for printing

financial reports prior to the ch


98

Figure 91: Selecting the Fiscal Year

When the confirmation message window displays, click OK.

Figure 92: Confirming Fiscal Year Change

Information



Changing the fiscal year makes the current posting period the 1st month of the new fiscal year.



financial reports prior to the change.




month of the new fiscal year.



General Ledger Fields and Terms

This section will provide you with a listing of Fields and Terms that you will

encounter in the ACS Financial Suite.

Terminology

Fund Accounting: An accounting system used by churches, synagogues, governments, colleges

and universities, hospitals, and other not

but each fund has distinct accounts. So,

Examples: Operating or General Fund, Building Fund, Endowment Fund, etc.

balancing set of accounts, with its own operating reports.

separate bank accounts (though some churches opt to do this

Source Codes: Source codes are related to each transaction.

When performing a search, you can filter on the source code, so they aid in tracing problems for

corrections. The source code enables you to print reports, or fil

code or source type.

Reference Numbers: The reference number is an identification number associated with a

transaction. The reference number on a check is the check number. On a deposit, you can use

the date, or click the Next button to choose the next available reference number. On a journal

entry, you can also click Next, or use you own numbering scheme

Area 1, Area 2: These are user

reporting purposes, even if the accounts are scattered throughout the chart of accounts, or

belong to different funds. You might use Area 1 to assign accounts to specific ministers. The

use of Area 1 and Area 2 is optiona

Bank Account: Physical accounts at the bank. You can

asset/checking accounts to a single bank account

Budget: A projected spending plan. You can enter an annual budget for each revenue and

expense account. If you prefer to project your spending on a seasonal basis, you can en

specific monthly budget figures for each account

Chart of Accounts: A listing of all accounts set up for use in your set of books (Fund). Accounts

are grouped together, based on the major headings and subheadings under which they appear.

You can have multiple views of your chart of accounts for multiple sorting of the accounts


99

General Ledger Fields and Terms


encounter in the ACS Financial Suite.

accounting system used by churches, synagogues, governments, colleges

and universities, hospitals, and other not-for-profit entities. All accounting principles still apply,

each fund has distinct accounts. So, you can print reports separately for each

Operating or General Fund, Building Fund, Endowment Fund, etc. Each fund is a self

balancing set of accounts, with its own operating reports. Fund Accounting doesn’t require

separate bank accounts (though some churches opt to do this

Source codes are related to each transaction. Source codes provide an audit trail.


The source code enables you to print reports, or filter information by its source

The reference number is an identification number associated with a


t button to choose the next available reference number. On a journal

entry, you can also click Next, or use you own numbering scheme.

These are user-defined elements that you can use to assign specific accounts for

if the accounts are scattered throughout the chart of accounts, or


use of Area 1 and Area 2 is optional.

Physical accounts at the bank. You can assign multiple general ledger

asset/checking accounts to a single bank account.

A projected spending plan. You can enter an annual budget for each revenue and

expense account. If you prefer to project your spending on a seasonal basis, you can en

specific monthly budget figures for each account.

A listing of all accounts set up for use in your set of books (Fund). Accounts


multiple views of your chart of accounts for multiple sorting of the accounts



accounting system used by churches, synagogues, governments, colleges

All accounting principles still apply,

you can print reports separately for each fund.

Each fund is a self-

Fund Accounting doesn’t require

Source codes provide an audit trail.


ter information by its source

The reference number is an identification number associated with a


t button to choose the next available reference number. On a journal

defined elements that you can use to assign specific accounts for

if the accounts are scattered throughout the chart of accounts, or


assign multiple general ledger

A projected spending plan. You can enter an annual budget for each revenue and

expense account. If you prefer to project your spending on a seasonal basis, you can enter

A listing of all accounts set up for use in your set of books (Fund). Accounts


multiple views of your chart of accounts for multiple sorting of the accounts.


100

Checking Account: The actual cash (asset) account that prints on your balance sheet. You must

associate each checking account with a bank account.

Committee: Operates the same way as departments and Area 1 and 2. You can assign a

committee to accounts so that you can print a report for the selected group of accounts. The

use of committees is optional.

Dataset: A dataset is a complete financial database with its own chart of accounts. If you have

two datasets, you have two separate databases with their own chart of accounts, vendors,

employee roster, fixed assets, and funds. You cannot transfer information between datasets.

Department: Operates the same as committee and Area 1 and Area 2. Departments group

accounts of a specific type together for reports, even if the accounts belong to different sets of

books. By assigning accounts a department, you can group all accounts in a particular area (such

as Administration, Education, etc.), regardless of what fund they are in

Fund: Used to separate sets of financial books. A Fund Code is applied to the appropriate

accounts to determine which accounts are parts of a set of books. Each fund should have its

own assets, liabilities, revenues, expenses, and, if necessary, restricted accounts.

Fund Principal: The general ledger accounts that revenue and expense accounts close to at the

end of the year for a specific fund. The difference between unrestricted revenues and expenses

is reflected throughout the year as “Excess Cash Received” on balance sheet reports. When the

books are closed, “Excess Cash Received” rolls into the Fund Principal account for that fund.

Major Headings (also called Level 1 Headings or Account Types): The chart of accounts has nine

major headings that identify the account type. You cannot delete major headings, even if you

are not going to use them. The nine major headings are: Assets; Liabilities; Fund Principal;

Revenues; Expenses; Other Revenues; Other Expenses; Temporary Restricted (Designated); and

Permanent Restricted (Designated).

Memorized Transaction: You can memorize transactions that you need to make multiple times

to the same general ledger accounts, so that they do not have to be entered each time. You can

edit memorized transactions. You must post memorized transactions after selecting them each

time.

Payee: Individual or company to whom an amount is paid in the General Ledger module.

Project: A code used to track revenues or expenses to or from multiple general ledger accounts

for a particular project. You can print an analysis of a project. Projects track transactions

regardless of the accounts that are affected.

Source and Source Type: Each transaction entered is identified by its journal source. (Example:

Check, Deposit, Journal Entry, etc.) You can use the source codes to separate transactions for

viewing and reporting purposes. Each source is tied to a specific source type.


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Subheading: Determines the way accounts are grouped and the positioning of subtotals on

reports. You can move subheadings within the same major heading. Accounts assigned to

subheadings are also moved. You can define up to four levels of subheadings under any major

heading in the chart of accounts.


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Budgets

This section consists of Reference Materials pertaining to working with Budgets.

This material will provide you with additional information that you may find helpful.

Distributing Annual Budget Amounts — When entering an annual budget, you must distribute

the budget across the twelve months of the year using one of the following options:

Evenly across months — Select this option to distribute the annual budget evenly across the

twelve months of the year. If the annual budget is not evenly divided by twelve, ACS applies the

remaining amount to the last month of the year. ACS calculates the annual budget using the

following formula:

Annual budget / 12 = Monthly amount

Based on Monthly Actuals from — Select this option to distribute your annual budget across

the months based on a percentage of the actual monthly balances of the From year. To select

the year from which you want to use the year-end balances, click the down arrow. ACS

calculates the monthly amount using the following formula:

Account's Monthly Actual Balance / Account's Annual Actual Balance = Monthly %

Annual budget x Monthly % = Monthly budget.

Based on a budget ratio — Select this option to distribute your annual budget across the

months based on ratio. To select a budget ratio code, click the down arrow. ACS calculates the

monthly budget based on the following formula:

Annual budget x Monthly ratio = Monthly budget.

Copy Budget Information

Budget: The annual budget amount is copied when this option is selected. You can select a

distribution option when this option is selected.

Actual Balances: The ending year balance is copied when this option is selected. You can select a

distribution option when this option is selected.


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Analysis of Revenue and Expense Column Settings

This section describes the column settings that are found on the Analysis of Revenue

and Expense Report.

Analysis of Revenues and Expenses - An analysis of all revenue and expense accounts. You can

print this report in summary or detail form. You can also print the report in Portrait or

Landscape mode.

To extract any of the Analysis of Revenues and Expenses reports to a Microsoft Excel

spreadsheet, click the Extract button. You can save the extract in the following formats:

• .xls

• .csv

• .txt

• .htm

• .db

• .dbf

Setting Up the Analysis of Revenues & Expenses Report

When printing the Detail Analysis of Revenues & Expenses, you can print subtotals for specific

account headings.

You can subtotal accounts for the following major headings:

• Revenues

• Expenses

• Other Revenues

• Other Expenses

The Subtotal Heading option in Add/Edit Chart of Accounts, in conjunction with the Subtotal on

Selected Headings option on the Setup tab, allows you to print detail and summary on the same

report. You can select the Subtotal Heading option on specific account headings, which

produces a report with the following:

• Detailed information on those account headings without the Subtotal

Heading option.

• Totals for all account headings with the Subtotal Heading option selected.

Subtotals display only for account headings with the Subtotal Heading option selected.


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The following steps show you how to set up columns for your reports.

To setup columns in your reports

1. On the General Ledger menu, click Reports.

2. Select Statements.

3. Select the Analysis of Revenues & Expenses statement to set up columns.

4. On the Setup tab, click Setup Columns.

5. Under Available Fields, click the plus sign to view column headings associated with a

category.

6. Click the right arrow button to move a column heading from Available Fields to

Columns to Include. Optional: Change the description of the column at the bottom of

the window in the Column Heading field.

7. Click the left arrow button to move a heading from Columns to Include to Available

Fields.

8. Optional: Click Include Closing entries in Custom Range Fields to include closing entries

in the columns for Custom Range Fields when the report range includes multiple years.

9. To return to the Setup window, click OK.

Table 8: Actuals from the Previous Year

Heading Description

Current Balance (Last Year) Displays the year-to-date balance for last year.

YTD Actual (Last Year) Displays the year-to-date actual for last year.

QTD Actual (Last Year) Displays the quarter-to-date totals for this quarter, last year.

For example, your posting period in reports is set to May

2010 (a month in the 2nd Quarter). Totals for this heading

prints for the 2nd Quarter of 2009.

MTD Actual (Last Year) Displays the month-to-date actual for last year.

YTD Debits (Last Year) Displays the year-to-date debits for last year.


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Heading Description

YTD Credits (Last Year) Displays the year-to-date credits for last year.

QTD Debits (Last Year) Displays the quarter-to-date debits for this quarter, last year.

QTD Credits (Last Year) Displays the quarter-to-date credits for this quarter, last year.

MTD Debits (Last Year) Displays the month-to-date debits for this month, last year.

MTD Credits (Last Year) Displays the month-to-date credits for this month, last year.


Actual (Last Year)

Displays last year's actual total for the month selected. For

example, July Actual (Last Year) displays the actual for July of

last year.

Monthly Average (Last Year) Displays the total for the YTD Actual (Last Year) divided by the

number of months YTD.

Total Actual (Last Year) Displays the total annual amount for last year.

Quarter 1 (Last Year) Displays last year's totals for Quarter 1.




Table 9: Actuals from the Current Year

Heading Description

Beginning Month Balance Displays the balance for the beginning of the month.

Beginning Year Balance Displays the balance for the beginning of the year.

Current Balance (This Year) Displays the year-to-date balance for this year.

YTD Actual (This Year) Displays the year-to-date actual for this year.

QTD Actual (This Year) Displays the quarter-to-date totals for this quarter, this year.

MTD Actual (This Year) Displays the month-to-date actual for this year.

YTD Debits (This Year) Displays the year-to-date debits for this year.


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Heading Description

YTD Credits (This Year) Displays the year-to-date credits for this year.

QTD Debits (This Year) Displays the quarter-to-date debits for this quarter, this year.

QTD Credits (This Year) Displays the quarter-to-date credits for this quarter, this year.

MTD Debits (This Year) Displays the month-to-date debits for this month, this year.

MTD Credits (This Year) Displays the month-to-date credits for this month, this year.


Actual (This Year)

Displays this year's actual total for the month selected. For

example, July Actual (This Year) displays the actual for July of

this year.

Monthly Average (This Year) Displays the total for the YTD Actual (This Year) divided by the

number of months YTD.

Quarter 1 (This Year) Displays the QTD total for Quarter 1 of the current year.




Table 10: Previous Year Actuals

Heading Description

Annual Budget/Actual (Last

Year)

Displays the year-to-date actual minus the annual budget for

last year.

YTD Budget/Actual (Last Year) Displays the year-to-date actual minus the year-to-date

budget for last year.

QTD Budget/Actual (Last Year) Displays the quarter-to-date actual minus the quarter-to-date

budget for this quarter, last year.

MTD Budget/Actual (Last Year) Displays the month-to-date actual minus the month-to-date


Annual Budget Remaining (Last

Year)

Displays the annual budget minus the year-to-date actual for

last year.

YTD Budget Remaining (Last

Year)

Displays the year-to-date budget minus the year-to-date

actual for last year.

QTD Budget Remaining (Last

Year)

Displays the quarter-to-date budget minus the quarter-to-

date actual for this quarter, last year.

MTD Budget Remaining (Last

Year)

Displays the month-to-date budget minus the month-to-date

actual for last year.


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Heading Description

% of Annual Budget Used (Last

Year)

Displays the year-to-date actual divided by the annual budget

for last year.

% of YTD Budget Used (Last

Year)

Displays the year-to-date actual divided by the year-to-date


% of QTD Budget Used (Last

Year)

Displays the quarter-to-date actual divided by the quarter-to-

date budget for this quarter, last year.

% of MTD Budget Used (Last

Year)

Displays the month-to-date actual divided by the month-to-

date budget for last year.

Table 11: Current Year Actuals

Heading Description

Annual Budget/Actual (This

Year)

Displays the year-to-date actual minus the annual budget for

this year.

YTD Budget/Actual (This Year) Displays the year-to-date actual minus the year-to-date

budget for this year.

QTD Budget/Actual (This Year) Displays the quarter-to-date actual minus the quarter-to-date

budget for this quarter, this year.

MTD Budget/Actual (This Year) Displays the month-to-date actual minus the month-to-date


Annual Budget Remaining (This

Year)

Displays the annual budget minus the year-to-date actual for

this year.

YTD Budget Remaining (This

Year)

Displays the year-to-date budget minus the year-to-date

actual for this year.

QTD Budget Remaining (This

Year)

Displays the quarter-to-date budget minus the quarter-to-

date actual for this quarter, this year.

MTD Budget Remaining (This

Year)

Displays the month-to-date budget minus the month-to-date

actual for this year.

% of Annual Budget Used (This

Year)

Displays the year-to-date actual divided by the annual budget

for this year.

% of YTD Budget Used (This

Year)

Displays the year-to-date actual divided by the year-to-date



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Heading Description

% of QTD Budget Used (This

Year)

Displays the quarter-to-date actual divided by the quarter-to-

date budget for this year.

% of MTD Budget Used (This

Year)

Displays the month-to-date actual divided by the month-to-

date budget for this year.

Change in Budget Displays the current year's budget minus last year's budget.

% Change in Budget Displays the change in budget divided by last year's annual

budget.

Change in Proposed Budget Displays next year's proposed budget minus the current

year's budget.

% Change in Proposed Budget Displays the change in proposed budget divided by the

current year's budget.

Table 12: The Previous Year's Budget

Heading Description

Annual Budget (Last Year) Displays the yearly budget entered for last year.

Quarterly Budget (Last Year) Displays the quarterly budget for this quarter, last year.

YTD Budget (Last Year) Displays year-to-date budget for last year. The YTD Budget

(Last Year) is last year's annual budget divided by 12,

multiplied by the number of months printing on the report.

For example, the report is being printed for the Posting

Period May 2002. Last year's annual budget is $24,000. To

calculate the YTD Budget (Last Year), divide 24,000 (last year's

annual budget) by 12, then multiply by 5 (the number of

months printing on this report for the Posting Period May

2002).

QTD Budget (Last Year) Displays the quarter-to-date budget for last year. The QTD

Budget (Last Year) is last year's annual budget divided by 12,

times the number of months in the current quarter. For

example, the report is being printed for the Posting Period

May 2002. Last year's annual budget is $24,000. To calculate

the QTD Budget (Last Year), divide 24,000 (last year's annual

budget) by 12, and multiply by 2 (the number of month's

printing on the report.

MTD Budget (Last Year) Displays the month-to-date budget for last year. For example,

the report is being printed for the Posting Period May 2002.

Last year's annual budget is $24,000. To calculate the MTD

Budget (Last Year), divide 24,000 (last year's annual budget)

by 12.


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Heading Description


Budget (Last Year)

Displays last year's budget for the month selected. For

example, July Budget (Last Year) displays the budget for July

of last year.

Table 13: The Current Year's Budget

Heading Description

Annual Budget (This Year) Displays the yearly budget entered for this year.

Quarterly Budget (This Year) Displays the quarterly budget for this quarter, this year.

YTD Budget (This Year) Displays year-to-date budget for this year. The YTD Budget

(This Year) is this year's annual budget divided by 12,



Period May 2002. This year's annual budget is $24,000. To

calculate the YTD Budget (This Year), divide 24,000 (This

year's annual budget) by 12, then multiply by 5 (the number

of months printing on this report for the Posting Period May

2002).

QTD Budget (This Year) Displays the quarter-to-date budget for this year. The QTD

Budget (This Year) is this year's annual budget divided by 12,



May 2002. This year's annual budget is $24,000. To calculate

the QTD Budget (This Year), divide 24,000 (this year's annual

budget) by 12, and multiply by 2 (the number of months

printing on the report).

MTD Budget (This Year) Displays the month-to-date budget for this year. For example,

the report is being printed for the Posting Period May 2002.

This year's annual budget is $24,000. To calculate the MTD

Budget (This Year), divide 24,000 (this year's annual budget)

by 12.


Budget (This Year)

Displays this year's budget for the month selected. For

example, July Budget (This Year) displays the budget for July

of this year.


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Table 14: Next Year's Budget

Heading Description

Annual Budget (Next Year) Displays the yearly budget entered for next year.

Quarterly Budget (Next Year) Displays the quarterly budget for this quarter, next year.

YTD Budget (Next Year) Displays year-to-date budget for next year. The YTD Budget

(Next Year) is next year's annual budget divided by 12,



Period May 2002. Next year's annual budget is $24,000. To

calculate the YTD Budget (Next Year), divide 24,000 (next

year's annual budget) by 12, then multiply by 5 (the number

of months printing on this report for the Posting Period May

2002).

QTD Budget (Next Year) Displays the quarter-to-date budget for next year. The QTD

Budget (Next Year) is next year's annual budget divided by 12,



May 2002. Next year's annual budget is $24,000. To calculate

the QTD Budget (Next Year), divide 24,000 (next year's annual

budget) by 12, and multiply by 2 (the number of months

printing on the report.)

MTD Budget (Next Year) Displays the month-to-date budget for next year. For


May 2002. Next year's annual budget is $24,000. To calculate

the MTD Budget (Next Year), divide 24,000 (next year's

annual budget) by 12.


Budget (Next Year)

Displays next year's budget for the month selected. For

example, July Budget (Next Year) displays the budget for July

of next year.

Heading

YTD Encumbered

QTD Encumbered

MTD Encumbered

Annual Bud. Remaining

(Encumbered)

MTD Bud. Remaining

(Encumbered)

QTD Bud. Remaining

(Encumbered)

YTD Bud. Remaining

(Encumbered)

Useful Information

To display a blank column in the Anal


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Table 15: Encumbered Fields

Description

Displays the year-to-date encumbered amount.

Displays the quarter-to-date encumbered amount.

Displays the month-to-date encumbered amount.

Displays the annual budget minus the year-to

added to year-to-date encumbered amounts.

Displays the month-to-date budget remaining, including any

encumbered amounts.

Displays the quarter-to-date budget remaining, including any

encumbered amounts.

Displays the year-to-date budget remaining, including any

encumbered amounts.

Useful Information

display a blank column in the Analysis of Revenues and Expenses, select Blank Column


date encumbered amount.



to-date actual,

date encumbered amounts.

date budget remaining, including any



Blank Column.


112

Table 16: Actual for Custom Range

Heading Description

Actual (This Period) Displays the actual for the selected period.

Actual (Prior Period) Displays the actual for the period prior to the selected period.

Actual (Prior Year Period) Displays the actual for the same period of the previous year.

Actual Change (from Prior

Period)

Displays the actual for this period minus the actual for the

prior period.

Actual Change (from Prior Year

Period)

Displays the actual for this period minus the actual for the

same period in the previous year.

Actual % Change (from Prior

Period)

Displays the actual change from the period prior to the

selected period divided by the actual for the period prior to

the selected period.

Actual % Change (from Prior

Year Period)

Displays the actual change from the same period of the prior

year divided by the actual of the prior year period.

Monthly Average (This Period) Displays the Actual (This Period) divided by the number of

months.

Monthly Average (Prior Period) Displays the Actual (Prior Period) divided by the number of

months.

Monthly Average (Prior Year

Period)

Displays the Actual (Prior Year Period) divided by the number

of months.

Table 17: Budget for Custom Range

Heading Description

Budget (This Period) Displays the budget for the selected period.

Budget (Prior Period) Displays the budget for the period prior to the selected

period.

Budget (Prior Year Period) Displays the budget for the same period of the previous year.

Budget (Next Year Period) Displays the budget for the same period of the next year.

Budget Change (from Prior

Period)

Displays the budget this period minus the budget for the

previous period.

Budget Change (from Prior Year

Period)

Displays the budget this period minus the budget for the

same period in the previous year.

Budget Change (for Next Year

Period)

Displays the budget for this period in next year minus the

budget for this period for the current year.


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Heading Description

Budget % Change (from Prior

Period)

Displays the budget change from a prior period divided by the

budget from the same prior period.

Budget % Change (from Prior

Year Period)

Displays the budget change from a prior year period divided

by the budget from the same prior year period.

Budget % Change (for Next Year

Period)

Displays the budget change for a period next year divided by

the budget of this period.

Table 18: Budget/Actual for Custom Range

Heading Description

Budget/Actual (This Period) Displays the actual for the selected period minus the budget

for the selected period.

Budget/Actual (Prior Period) Displays the actual for the period prior to the selected period

minus the budget for the period prior to the selected period.

Budget/Actual (Prior Year

Period)

Displays the actual for the same period of the previous year

minus the budget for the same period of the previous year.

% Budget Used (This Period) Displays the actual for the selected period divided by the

budget for the selected period.

% Budget Used (Prior Period) Displays the actual for the period prior to the selected period

divided by the budget for the period prior to the selected

period.

% Budget Used (Prior Year

Period)

Displays the actual for the same period of the previous year

divided by the budget for the same period of the previous

year.

Budget Remaining (This Period) Displays the budget for the selected period minus the actual

for the selected period.

Budget Remaining (Prior

Period)

Displays the budget for the period prior to the selected

period minus the actual for the period prior to the selected

period.

Budget Remaining (Prior Year

Period)

Displays the budget for the same period of the previous year

minus the actual for the same period of the previous year.

% Budget Remaining (This

Period)

Displays the budget for the selected period minus the actual

for the period, divided by the budget for this period.

% Budget Remaining (Prior

Period)

Displays the budget for the period prior to the selected

period minus the actual for the period prior to the selected

period, divided by the budget for the period prior to the

selected period.


114

Heading Description

% Budget Remaining (Prior Year

Period)

Displays the budget for the same period of the previous year

minus the actual for the same period of the previous year,

divided by the budget for the same period of the previous

year.


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This Page can be used as a reference when entering transactions.

Accounting Procedures

Assets Liabilities Fund Principal

DR CR DR CR DR CR

+ - - + - +

Revenue Expenses Restricted

DR CR DR CR DR CR

- + + - - +

Documents

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