Fact is Fully computerized financial business accounting software. it is develop by Vedica

Software Pvt. Ltd. in Culcatta.

Fact Accounting for Windows

User Guide

Key Features

FACT Accounting for Windows provides you a huge number of facilities to make Data Entry and Analysis easier than ever.

Online Update No Validation Routine needs to be run. No Update required. Nor do you need to do Postings

manually. Validations are carried out at the time of data entry itself. And, all Updates and Postings are carried out instantaneously as soon as you enter the Document.

No Duplicate Entries There are no duplications at all. When you enter a Sale invoice, the Accounts Receivable,

Inventory and General Ledger are all, automatically, updated, right through to the Profit & Loss and Balance Sheet.

Real-time Computing Power

FACT Accounting for Windows brings to you Real Time Computing Power. You can print all

your Source Documents (like, Vouchers, Purchase Orders, Delivery Orders, Invoices, Receipts, to name a few) online. Your Accounts will never be backlogged now.

Great Speed

FACT Accounting for Windows is the fastest Online and integrated Business Accounting Software of its class available currently – both at the data entry as well as at the Report level.

Multi-Currency

FACT Accounting for Windows allows you to transact in any Currency that you wish. All Foreign Currency transactions are posted in the Home Currency as well. Exchange Gain/Loss is computed at the time of the entry, and automatically posted to the General Ledger without any extra work.

Reports

The Reports answer all your accounting needs, and more. Virtually all the Reports are available on screen and on printer. Reports are available in both Graphics and Text modes.

24-Month Accounting Period

This allows you the flexibility of carrying on with the next year's work uninterrupted till you run the automatic „Year End‟ process. All the data for the 24 months are kept live.

History of Transactions

You may make query on any transaction (Vouchers, Purchase Orders, Delivery Orders, Invoices, Receipts, Debit Notes etc.) on Screen or on Printer for the transactions of the entire year. It will show you all the relevant information.

You may consolidate the Trial Balance, Profit & Loss Account and Balance Sheets of your subsidiaries and, joint Venture and group Companies, based on the percentage of equity holding and conversion of the Foreign Currency to Home Currency.

Multi-User Version Document Class

You may classify each document with a Document Class. The Document Class may be used

to classify Vouchers, Purchase Orders, Delivery Orders, Invoices, and Receipts for the different Cost Centers, Divisions, Departments, or Employees in your Company. This helps in reporting.

Multiple Bank Accounts

You may maintain up to 999 Bank Books in FACT Accounting for Windows. A separate Bank Book is generated for each Bank Account.

Multiple Warehouses

You may maintain Stocks at multiple Warehouses using Document Class. The Warehouse-wise Stock Valuation and Warehouse-wise Stock Position Reports are available on Screen and on Printer.

Consolidation of Accounts

If you have bought the Single User version of FACT Accounting for Windows, you may trade it in for the Multi User version at an upgrade charge at a later date. It protects your initial investment by ensuring that your software will be supported as you grow.

Multi-Company Support You may maintain the accounts of multiple companies on a single copy of FACT.

Data Import

You may have FACT Accounting for Windows installed at the Branch Offices as well as the Head Office, where data need to be updated regularly. FACT allows you to

import data from one installation to the other. You may, even, import data

contained in your previous Accounting software.

Document Designer

The Designer allows you to custom design all your Source Documents.

Templates

Templates allow you to pre-define the contents of Documents that are repetitive in

nature, and save them for future use, e.g. Salary Vouchers, Monthly Rent Vouchers and several others.

Auto Numbering

Using Auto Document Numbering, you may set up all your Source Documents to be

numbered automatically. You may define more than one numbering scheme for

each Document.

Powerful Fraud Detection System

Two new features help detect fraud in your Company, and provide you with detailed

analysis of your Payments and Receipts: With the help of a very powerful Management Information tool, you can,

now, track the Payments/Receipts above a certain amount readily.

There is another extremely powerful utility that allows you to obtain details of all your Payment & Receipt made through a particular Entity-supplier,

Employee, Contractor, to name a few.

Updates and Upgrades

FACT accounting for windows is regularly updated and upgraded as per the need of current market trends. This is informed to the users through the local dealers.

Revolutionary “Intellective Technology

The new “Intellective” Technology drastically reduces the amount of typing that you are required to perform while working within the “Entry” modules pertaining to

“One Db/Cr” or “Many Db/Cr” Vouchers.

System Requirements

Following are the System Requirements that FACT Accounting for Windows needs for successful installation and optimum functioning on your PC:

Processor - Intel Pentium II or higher

RAM - 32 MB (Recommended 64 MB) Hard Disk - 200 MB of free Disk Space

Display - VGA with „800 by 600 pixels‟

Operating System- Windows 9x, Windows NT 4.0, or higher with Service Pack

6A, or Win 2000

Setup types while Installing FACT Accounting for Windows

Evaluation Copy

Choose the Evaluation Copy Setup type, if you would be accessing FACT from only

one computer. You do not need any hardware key to run FACT in this mode.

Single User

Choose the Single User Setup type, if you would be accessing FACT from only one computer. You would also need to have a Single User hardware key to run FACT in this mode.

Windows NT

Choose the Windows NT Setup type, if you are installing FACT on a Windows NT

Server & would be accessing it from multiple network nodes. You would also need

to have a Multi User Hardware Key to run FACT in this mode.

Novell Netware

Choose the Novell Netware Setup type, if you are installing FACT on a Novell

NetWare Server and would be accessing it from Network Nodes. You need to have a

Multi User hardware key to run FACT in this mode.

Windows 9x Peer to Peer

If you are installing FACT on a Windows peer-to-peer network, choose the Windows Setup type.

Creating User accounts and assigning a Password for each

Overview

If at least one user is connected to FACT architecture, then he must be the

“MANAGER” of the System who manages the entire System. But if the accounting

task requires the involvement and co-ordination of a large number of personnel, it is necessary that every person, who is engaged in this task, should be able to

access FACT Accounting for Windows. Therefore, for maintaining security and

confidentiality of data, the extent to which every user (i.e., every employee of your Company) can access the various modules may be controlled. This can be done by

assigning specific Rights to the different users and also by placing each of them

under specific Security Group.

Steps

- Click on Account - Preferences - User Maintenance

- Click on Add -

-

User Name Enter the name (max: 10 characters) of the user. This name should be a unique

identifier for the concerned user.

Security Group

Enter the name of the Security Rights Group to which the user (account being

created) would belong.

Password

Enter a unique Password for the user. You may also opt to leave this textbox blank,

if you do not wish to assign a definite a Password for the respective user.

Days

Users may be granted permission to add, modify, or delete the backdated

Documents. Enter the number of days of backdated access that the user is to be permitted. The number of days of backdated access is always counted from the

currently logged in date for the user.

Allow Post Dated Entry

Users may be granted permission to add, modify, or delete the postdated Documents. Keeping this in mind, you may mark this check box, if the user is

permitted postdated access.

Allow Modification of Sale D/Os This option allows a user to modify a Sale Delivery Order created by another user.

In order that the user may be able to do so, this check box needs to be marked.

Language

This drop down list provides the choice of the language that the user likes to use

while working with FACT.

After you finish making entries into these Controls, choose the Save button. To exit

from the User Maintenance dialog, choose the Cancel button.

Defining your System Controls

Overview

You need to specify some fundamental information about your Account so that FACT can proceed with bookkeeping, and then, with generating all the Reports for

you accurately. However, you may not have all the relevant information in hand

when you are installing a new Account. It may, also, happen that you may wish to

change certain mappings at a later date. But, once you have created all the General Ledger Accounts, you should enter all Master Control General Ledger accounts

through this module. AUTOMATIC POSTINGS will be made in these Master Control

Accounts when you enter Documents pertaining to Sales, Purchases & Inventory.

Steps

- Click on Account - Preferences - System Controls

Date and Code Types

Starting Date

Enter the first day of the Accounting Period.

Ending Date

Enter the last Day of the Accounting Period.

Install Date

Enter the day from which you are starting the computerization. In most cases, it is

the Starting Date.

No Codes Mode

FACT Accounting for Windows does not support the No Codes Mode. Therefore, by default, this drop down list will display No, and you will not be able to change the

same.

Account Code type Select Alpha for alphanumeric coding, else select Numeric if you wish to implement

numeric coding. Remember that, you can change from Numeric to Alphanumeric,

not the other way around. You should select Numeric unless you are using alphabets in your codes and do not wish to change.

Customer / Vendor code type Choose Alpha for alphanumeric, Numeric for numeric coding. You can change from

Numeric to Alphanumeric, but not the other way around.

PL and Cash Book

Profit & Loss A/c

Select the General Ledger Account (Balance Sheet), which is the Retained Earnings

A/c or Profit & Loss Account. This is the Account in which the Profit/Loss will be displayed when you generate a Balance Sheet.

Cash Book Number

Use the [F1] key for a list of the existing Cash Books, created through the Masters / Chart of Accounts option, and then, select the one that you wish to use as your

main Cash Book.

Contra A/c

Select the General Ledger Account (Balance Sheet), which has been defined as the

Contra Account.

Realized Gain/Loss Account

Select the General Ledger Account (i.e., the Profit & Loss Account), where based on

the daily Foreign Currency Buying or Selling Rates, FACT may calculate the gain/loss, and display the net gain/loss.

Unrealized Gain/Loss Account (Banks) Select the General Ledger Account (i.e., the Profit & Loss Account) for obtaining the

difference in actual postings made to the Foreign Currency banks and postings that

would have been made, if the re-valued rate is applied to all the Foreign Currency transactions.

Bank Balance Below Minimum

This is a drop down list. It provides you necessary options to have better control over your Balances in the Bank. Using this option, you can stop issuing Payment

Vouchers through Entry/ Voucher for that Bank for which the fund falls below the

buffer level. Block does not allow you to select the Bank during the Voucher entry

(through Bank), whose fund falls below minimum level. Warn displays a warning

message during entry and Ignore does not put any check on Bank Minimum Level and allows you to go ahead irrespective of whatever position the fund of the Bank is

in.

New method for Exchange Gain/Loss

This is a drop down list as well. Select Yes, if you want FACT to calculate the

Gain/Loss while entering a Receipt / Payment in a Foreign Currency Bank and

adjusting Documents, like Invoice, with the same Currency as that of the Foreign Currency Bank. Otherwise, select No.

Stock

Opening Stock Account (Profit & Loss) Select the General Ledger Account (i.e., the Profit & Loss Account) that has been

defined as Opening Stock.

Closing Stock Account (Profit & Loss) Select the General Ledger Account (i.e., the Profit & Loss Account) that has been

defined as Closing Stock.

Closing Stock Account (Balance Sheet)

Select the General Ledger Account (i.e., the Balance Sheet) that has been defined

as Stock in Hand.

Stock Below Minimum

Specify whether you want the System to check the Stock and provide appropriate

message when the Stock goes below minimum level. And also select whether you want a message while entering data when the stock is below the level. These are

Warn, Block and Ignore\.

Sales

Trade Debtors A/c (Master Control)

Select the General Ledger Account (i.e., the Balance Sheet) that has been defined

as the Master Control Account for Trade Debtors/Sundry Debtors.

Sales A/c (Master Control)

Select the General Ledger Account (i.e., the Profit & Loss Account) that has been

defined as the Master Control Account for Sales.

Sales Return A/c (Master Control)

Enter the Code of the General Ledger Account (Profit & Loss Account) that has been

defined as the Master Control Account for Sales Returns.

Sales A/c (Unbilled Delivery Orders)

While generating your Trial Balance, Profit and Loss or Balance Sheet Statement, FACT posts the total value of all uninvoiced Sale Delivery Orders to this Account.

Trade Debtors A/c (Unbilled Delivery Orders)

While generating your Trial Balance, Profit and Loss or Balance Sheet Statement, FACT posts the total value of all uninvoiced Sale Delivery Orders to this Account.

Trade Debtors A/c (Unrealized Gain/Loss)

FACT allows you to re-value all your open Foreign Currency Documents of Customers.

Unrealized Gain/Loss A/c (A/R) FACT allows you to re-value all your open Foreign Currency Documents of

Customers.

Invoice Terms

You may be charging Excise, Special Excise, GST/VAT/ST, Freight, or Handling Fees

in addition to the basic rate of the goods sold or reducing Discount. Similarly, you

must be paying the above extras when you Purchase goods. Using different fields within this module, you can keep track of all these sundry items on the Invoices. It

defines the Terms in a systematic manner.

Number Enter the sequence in which the Term appears when the Invoice is entered. You

may enter up to 15 Terms.

Description

Enter the Description of the Term (e.g., Excise, Sales Tax, or Discount).

Ledger Code

Enter the Code of the General Ledger Account to which the amounts of this term

should be posted.

Sign

This is a drop down list. Select „+‟ to add the amount of the Term being defined to the Bill amount, while specify „-‟, if you wish to subtract the amount.

Category

This, too, is a drop down list. You can either select Sales Tax or None.

Allow Vat

Select Yes if Value Added Tax (VAT) is applicable.

Include in Profitability

It allows you to calculate the profitability only on the basic amount, ignoring the Billing or Invoice Terms.

Excise Included in MRP

Select Yes, if you would like to include Excise in the Maximum Retail Price (MRP). Else, select No.

Formula

Enter the Term Numbers on which the Term being defined is to be calculated.

Suppress

Select Yes, if you do not wish to display the Bill Terms with zero amounts in your

Reports. If you opt for No, then the Bill Terms with zero amounts will be displayed in your Reports.

Purchases

Trade Creditors A/c (Master Control)

Select the General Ledger Account (i.e., the Balance Sheet) that has been defined as the Master Control Account for Trade Debtors/Sundry Creditors.

Purchases A/c (Master Control)

Select the Master Control General Ledger Account (i.e., the Profit & Loss Account) defined for Purchases.

Purchase Return A/c (Master Control) Select the Master Control Purchase Return A/c (i.e., the Profit & Loss Account).

FACT will post all the Purchase Returns to this A/c.

Purchase A/c (Unbilled Delivery Orders)

While generating your Trial Balance, Profit and Loss, or Balance Sheet Statement,

FACT posts the total value of all Uninvoiced Purchase Delivery Orders to this

Account. You need to select a General Ledger Account (a Profit & Loss item) that would hold this value.

Trade Creditors A/c (Unbilled Delivery Ords.) While generating your Trial Balance, Profit and Loss or Balance Sheet Statement,

FACT posts the total value of all Uninvoiced Purchase Delivery Orders to this

Account. You need to select a General Ledger Account (a Balance Sheet item) that would hold this value.

Trade Creditors A/c (Unrealized gain/loss)

FACT allows you to re-value all your open Foreign Currency Documents of the Vendors. The General Ledger Account, mapped here (a Balance Sheet item), will

show the difference in value of these Documents, taking into consideration the

Exchange rate as on the date of the transaction and the current Exchange rate.

Unrealized Gain/Loss (A/P)

FACT allows you to re-value all the open Foreign Currency Documents of your

Vendors. The General Ledger Account, mapped here (A Profit & Loss item) will show the difference in value of these documents, taking into consideration the Exchange

rate as on the date of the transaction and the current Exchange Rate.

Invoice Terms

Choose the button adjacent to the field and define the Invoice Terms like in the Purchase Invoice Terms.

Miscellaneous

Activate Audit Trail

Select Yes to activate the Audit Trail. FACT will keep a log of all modifications and

deletions made.

Activate Autocomplete

Select Yes to activate the “Autocomplete” feature in the “One Db/Cr” and “Many Db/Cr” modules. FACT will prompt you with matching previous entries as you key in

information against the Paid To / Recd From and Narration fields in the Voucher

Entry modules. Else, select the No option.

Product Discount as

This is a drop down list. Select Percentage or value depending on how you wish to

enter discount under the diff column of Sale/Purchase Orders, Delivery Orders and Invoices.

Customer Credit Control Every Customer has a credit limit defined in Customer Master. Select the warn,

block or ignore options depending on how you want to define the credit limit to a

customer.

Currency

Each Company (i.e., Account) can be maintained in a different Home Currency.

Choose the ellipsis button adjacent to the Currency field to define a new Currency through the Currency window.

Sales Tax Codes Choose the ellipsis button adjacent to this field to enter all the different

GST/VAT/ST Rates that are applicable to you for selecting the applicable Rate when

you enter the Sale / Purchase Invoice - for both Central and State Sales Tax.

Code

Enter a one-character Code - Numeric or Alphanumeric.

Description

Enter the description of this Sales Tax Rate within 15 characters.

Sales/Purchase/Both This is a drop down list. Select Sales, if this rate of GST/VAT/ST is applicable on

Sales Invoices only. Select Purchase, if this rate of GST/VAT/ST is applicable on

Purchase Invoices only. Select Both, if this rate of GST/VAT/ST is applicable on both Sales & Purchase Invoices.

Percentage

Enter the rate at which GST/VAT/ST is to be charged.

Exempt

This option is available only if Percentage is specified as zero (0). Select Yes, if this

rate of Tax is to be treated as „exempted‟. Otherwise, select No.

Include in Stock Valuation

Select Yes, if the GST/VAT/ST amount is to be included in Stock Valuation. Otherwise, select No.

Account

Enter the Code of the General Ledger Account to which the posting of this Rate

should be made.

State/Central

Enter Yes for State Sales Tax and No for Central.

Form Required Select Yes, if a Concessional Form is required against this rate of Tax. Else, select

No.

Type

This option is available only if you answered Yes to the drop down list named Form

Required above. Enter the type of the Concessional Form required.

Register Title

Enter the Register Title. This will be printed as the Header for this rate of Tax in the

Tax Register.

Reports Printing

FACT Reports have been tailor-made to cater to the needs of Users. Using the Reports Printing option, you can specify the Mode in which you wish to generate the

Reports. Select the appropriate radio button – Text Mode or Graphics Mode.

Reports - generated in the Text Mode - are typically extracted through Dot-Matrix

Printers. The type of Output can be of the following three types: - Print Preview, whereby you will be able to view the Report on your screen

- Printer, whereby you will be able to direct the output to the Printer

- Disk File, whereby you will be able to direct the output to a File on your Local Disk

Reports – generated in the Graphics Mode – are typically extracted through Laser

Jet Printers. If you wish to generate Reports from FACT in your native Windows environment, and export the output to other file formats, viz. MS Excel or MS Word

for further analysis and presentations, then you should always opt for the Graphics

Mode of Reports Printing. No Extra Entry, No Error, and certainly, Huge Time

Savings!!

Setting System Configuration

Overview

What type of Network would you prefer for your FACT Installation? How do you

want dates to appear - as day/month/year or month/day/year? Do you wish to record any entry, made in the System, to the Hard Disk immediately after the entry

is made?

These must be some of the questions that you ask to yourself as you proceed to

define your Account in FACT. Well, you are justified from your standpoint. These questions are definitely pertinent. And, FACT responds to these queries through the

Account / System / Configuration option. In a nutshell, you can set certain

parameters globally through this option.

Steps

- Click on Account - System - Configuration

Activate Flush

This offers you two options – Yes and No. Select Yes, if you wish FACT to record

(i.e., write) all entries – additions, modifications, or deletions - to the Hard Disk of your computer immediately after the entry has been made.

Date/Time in Report Choose Yes to print the Date and Time in all the Reports directed to the Printer.

This will help you in knowing the time when a particular Report was actually

generated.

Date Format

Select the format of dates followed in your country.

Language

This is a drop down list. Select the language you want to use in the software.

Network Type

You may use this option to change the Network Type for your FACT installation. But

remember that, this depends on whether FACT software licensed to you is a Single User version or a Multi User version.

Number Formats

Define the format in which you wish to print the currencies. Select an available format, and place the commas and the decimal point according to your

requirement. This format will be used on Receipt / Payment Vouchers and on the

Reports.

Choose the Save button at the bottom of the dialog box once you complete making

all the entries.

Installing a new Account

Overview

The foremost essential requisite to work with FACT is an Account. You can install as

many Accounts as you like through the Account Module. The accounting data for your Company is stored under a directory. This is automatically created while the

Company is defined.

Creating a Company/ Account

Select Account

Select new (incase of Install)

Select Open

We can find creation screen

Initial of three letter

– DATA DISK/DRIVE

– Type name of Company, Address, Short name, Income tax no.

– Install AR/AP (Type yea is we wish to install AR/AP & Inventory.

– Install Sample Date: Select none

– Then Save (Alt+S)

PREFERENCE

Select Account

Select Preference

Select System control

(a) Account Code Type

Select Alpha or Numeric

(b) Customer vendor code type

Select Alpha & Numeric

Save

Close

OPENING A COMPANY

Select Account

Select Open

Select the Company (Press Enter)

User - Type user name (Manager) (Press Enter)

O.K.

MODIFY A COMPANY

Select Account

Select Modify

Type initial or we can select from the list (F1)

After modifying select Save

DELETING A COMPANY

It is actually not equal to throwing a company out of the system but it is rather throwing a

company from the list. If we really required to delete, we can delete by window system.

Select Account

Select Delete

Select the Company

Then O.K.

RESTORATION

Select Account

Select New

Type delete initial of Company

Type the name of Company

Save it

Initials

Enter (meaningful) Initials within three characters for the Account you are installing. This is the unique identifier by which the Account will be referred by the

System during any time when the Account is accessed.

Data Disk Drive

Enter the Disk Drive, where you wish to store the data related to the Account being

installed. You can use either the Local Hard Disk Drive on your PC / Network Node,

or any Network Drive for this purpose. Name of the Account

Enter the name of the Account being installed. Address

Enter the address of your Account in detail. The address will be printed on every Report of your Account.

Short Name

Enter the short name for the Account. This can be a maximum of 15 characters in length. The Short Name is printed in the Merged (or Consolidated) Profit & Loss

Statement and the Balance Sheet, where space constraints do not allow the entire

name of the Account to be printed. Income Tax Number

Enter the Income Tax File Number of the Account in 2 lines of 20 characters each. Install AR/AP

This is a drop down list. Select Yes, if you wish to install the Accounts Receivable

and Accounts Payable and Inventory modules, too. If you wish to use only the General Ledger, select the No option.

Install Sample Data

This is a drop down list. You may, now, install sample Masters to help you to get

started. Choose the sample template from the available options.

Choose the Save button to store the defined Settings.

Specifying the text of your Report Footer Overview

The Reports in FACT answer all your accounting needs. And, the System provides

you with tools that are required to design your Reports in the manner in which you

wish to. Steps

- Click on Account - Preferences - Report Footer Report Footer

Enter the text of the Footer in a maximum of 80 characters. Print

Enter Yes to print the Footer on the last line of each Report and No to suppress

printing.

Click the Save button to store your Settings.

Stipulating the Active Date Range Overview

Data Security is of paramount importance in any computerized Financial System. You can specify date range only if you have logged on to the System as MANAGER.

Once the Range has been set, no entries are allowed to be

appended/modified/deleted outside this Date Range. The Date Range may be

changed as and when you feel the necessity of doing so. Steps

- Click on Account - Preferences - Active date Range From Date

Enter the Start Date of the Active Date Range.

To Date

Enter the End Date for the Active date Range.

Choose the Save button to store your Settings.

Stating your choice on printing of Documents Overview

This topic is all about the various options that FACT provides you to handle the Printers while working within the Software.

Using the Account - Printer - Selection option, you can select the Printer for

generating FACT outputs. You may define a maximum of five Printers and select any one of them while working within FACT.

Steps

- Click on Account - Preferences - Document Printing Use Online Printing

Turn on this check box to set the Online option to print Documents as soon as you

enter them. Document Type

The said dialog displays the names of the different types of Source Documents that you are required to handle while working with an Account.

Use Document Writer and Use Program

Against each of the Document types, there are two radio buttons. One is captioned

Use Document Writer, while the other bears the name Use Program.

In case, you select Use Program, you are required to specify the name of the Program that you wish to use for the respective Document type.

Design / Program Name

This is a drop down list. Select the name of the Design (if you have selected Use Document Writer) to be adopted or the name of the Program (if you have selected

Use Program) to be used.

Defaults

Choose this button to restore all the default Document Printing Settings available

with the Package.

Choose the Save button to save the changes and choose the Close button to return

to the main menu. Account / Printer / Selection

For proper representation of your Reports generated in FACT Accounting for

Windows, you need to select the appropriate Printer. The following fields would appear in the Account - Printer - Selection dialog box:

Account / Printer / Driver Maintenance

- Click on Account - Printer - Driver Maintenance

It shows you a list of the existing Printer Drivers supplied with FACT. You may

select the one you wish to use.

Choose the Insert button to create a new Driver. You will, then, be prompted to

provide the Escape Sequences. It is imperative to take help of the Printer Manual to

view the correct “Escape Sequences”.

Defining your Document Numbering scheme Overview

FACT offers you an extremely cogent Document Numbering scheme. In simple

terms, „Document Numbering‟ means assigning of numbers (automatically) to

Documents being entered into FACT Accounting for Windows. In practice, this task is much more complex than it looks.

Consider the following instances: Case I

The Invoice Number, followed in your business, has a character suffix and prefix, and only the numeric portion of the body is incremented.

Case II

You follow different Serial Numbers for different category of Invoices depending

upon the Products that are being sold.

Case III

Each of your Salesperson has his own number range. In this manner, it is possible

to locate the person responsible for the sale by just looking at the number.

Case IV

Voucher Numbers have different numbers (Serials) in a certain Period (say, month).

Steps

- Click on Account - Preferences - Document Numbering

Show Sorted By

Select the way in which you wish to have the screen display sorted. The sorting can

occur based on the name of the Documents or on the name of the users. All you need to do here is to select the appropriate radio button, i.e., either Document

Name or User Name.

- Add button at the top of Account – Preferences - Document Numbering dialog to invoke the Account – Preferences - Document Numbering – Add window.

Document

Select the name of the Document from the drop down list. User

Select the user for whom the scheme is to be applicable. In case the scheme is to be applicable for all the users, select the Default option.

Category

Select the Category for which the scheme is to be applicable. If you have not

defined any Category, then select the Default option.

Mode

Select any of the three radio buttons out of Manual - Numeric, Manual -

Alphanumeric and Automatic. Depending upon this selection, FACT Accounting for

Windows will either allow you to enter the Document Number or generate it itself. Length

Prefix

Enter the constant prefix to be used for Documents entered under this

scheme. Even in Manual mode, FACT will show you this prefix.

Suffix

Enter the constant suffix to be used for Documents entered under this

scheme. Even in Manual mode, FACT will show you this suffix. As you enter the prefix and suffix, take care to ensure that they are unique and

that their individual lengths do not exceed the total of their individual lengths as

displayed in the textbox captioned Total Length Available.

Body Length

The total length less the length of the prefix & suffix is the maximum length of the number that can be entered by you. However, you may like to reduce

this to shorten your entire number length for the purpose of printing.

Total Length Available This is only a display field and cannot be edited by you.

Fill

Numeric Left Fill

For Manual - Numeric and Automatic Modes, it is possible to left-fill the number (body portion only). Specify whether you want to left-fill the number

generated/entered by marking the check box captioned Numeric Left Fill.

Fill Character This textbox is disabled if the check box captioned Numeric Left Fill has been

marked. The character entered here is used to leftfill the number generated/

entered. By default it is zero (0), but you can make it anything you want.

Applicability Details

Start Date and End Date

These designate the Period within which the Document Numbering scheme

being defined will be valid.

Start Number, End Number, and Current Number

Each of the above options represents an individual Control. These options are

available for Manual - Numeric and the Automatic Modes. Entries made against Start Number and End Number govern the range within which the

Document Number can be generated/ entered.

The Current Number field is only used in the Automatic Mode only. This Number will

be the first Number generated. FACT will increment this Number for every new Document created.

Choose the Save button at the bottom of the Account – Preferences - Document

Numbering – Add window to store your settings. Finally, click the Close button at the top to return to the main menu.

Concepts - General Ledger Accounts

After an Account is installed, the first thing you need to do is to set up the Chart of Accounts. Before you proceed doing so, what you need is to make a list of your

General Ledger Accounts.

Coding Structure

FACT does not have pre-set Codes for Assets, Liabilities, Income & Expenses. You

may assign any code to any General Ledger Account. But it is a good practice to broadly club the same type of General Ledger Accounts for easier identification and

ease of use.

CODING SYSTEM

Fact system has two coding system that are useful to make general ledger code & Product

code.

1. Alpha/Numeric

2. Numeric

Note: 4 digit of coding number should be given

CREATING A LEDGER

Select Master

Select chart of account

Select general ledger

(Creation box will be appear)

Select Add

Type General ledger Code

For Eg. E001, I001

Description: Name of Ledger

Select Profit/Loss Account or Balance Sheet Type

Cash/Bank Book – Yes

It active only in balancesheet

Type initial of Bank/Cash

Cash or Bank code: Two digit only

Minimum Balance:

Alternate General ledger (G) code:

Save

To View General Leger

Select Ledger Menu

Select listing of Master

Select general ledger code

O.K.

-

Essential General Ledger Accounts

Certain General Ledger Accounts must be created in order for FACT. These are

called Control Accounts. Once they have been created, they have to be defined in System Controls. These General Ledger Accounts and the functionality of the same

are as follows.

Profit & Loss Account

FACT is an Online Package. You may generate the Profit & Loss Account as of any

date whenever you please. This is the Retained Earnings A/c and the Profit or Loss

up to the date you generate the Profit & Loss Account is calculated and displayed against this General Ledger Account in the Profit & Loss Account.

Contra A/c

FACT allows you to enter any Cash to Bank (cash deposited into bank) or Bank to

Cash (cash withdrawn from bank) or Bank to Bank (funds transfer from one bank

A/c to another) in SINGLE Voucher. You enter such a Voucher through the Contra A/c, and FACT, automatically, creates the second Voucher.

Realized Gain / Loss Account

FACT is a true Multi-currency Accounting Package. As in any multi-currency

transaction, exchange Gain/Loss may occur. Based on the daily buying or selling

rate, FACT calculates the exchange Gain/Loss for each transaction and the net

Gain/Loss is posted to this A/c.

Unrealized Gain / Loss Account

At the point of generating your Trial Balance, Profit & Loss or Balance Sheet, FACT

allows you to revalue the balances in Foreign Currency Banks. The Unrealized Gain

/ Loss A/c will show the difference in actual postings made for the Ledger Accounts of the Foreign Currency Banks based on currency rate of the transaction date and

postings that would have been made if the revaluation rate is applied to all the

foreign currency transactions.

Bank Balance Below Minimum

This A/c imposes a check on the balance in the Banks created in FACT Accounting

for Windows. Opening Profit & Loss A/c

This A/c is used to post the monthly Opening Stock balances when the Profit & Loss or the Balance Sheet Report is taken with MTD figures.

Closing Profit & Loss A/c

FACT allows you to value the Closing Stock in hand as of any date while generating

the Trial Balance, P&L Account and the Balance Sheet. And it shows you this figure

in the Closing Stock on the Income side of the Profit & Loss Account.

Closing Balance Sheet A/c

When FACT shows the credit balance of the Closing Stock value in the Profit & Loss

A/c, it shows the debit value in the Balance Sheet in the Closing BS A/c. This A/c is the same as Stock in Hand or Stock in Trade.

Trade Debtors A/c

This is the Control A/c in which the Auto Journal for the day's total transactions for

the Customers are posted through the Accounts Receivable module.

Sales A/c

This is the Control A/c in which the Auto Journal for the day's total Sales is posted

through the Accounts Receivable module. You may define overriding General Ledger

Accounts for sales of different Products to be posted to. Sales Return A/c

This is the Control A/c in which the Auto Journal for the day's total Sales Return is

posted through the Accounts Receivable module. You may define overriding General Ledger Accounts for Sales Returns of different Products to be posted to. Trade Creditors A/c

This is the Control A/c in which the Auto Journal for the day's total transactions for

the Vendors are posted through the Accounts Payable module.

Purchases A/c

This is the Control A/c in which the Auto Journal for the day's total Purchases is posted through the Accounts Payable module. You may define overriding General

Ledger Accounts for Purchases of different Products to be posted to. Purchases Return A/c

This is the Control A/c in which the Auto Journal for the day's total Purchases

Return is posted through the Accounts Payable module. You may define overriding

GL Accounts for Purchase Returns of different Products to be posted to.

Defining a General Ledger Account Overview

While working within FACT, the task that should top your priority list is defining

(i.e., setting up) your General Ledger Account. FACT does not require you to follow a pre-determined coding pattern. You may assign any Code to any General Ledger

Account.

You may follow the a Coding Pattern, like:

100 - Contra Account 101 - 300 Liabilities 301 - 500 Assets 501 - 700 Incomes

701 - 900 Expenses 901 - 999 Cash Book Codes

General Ledger Code

Enter the General Ledger Code. This can be a maximum of 4 characters in length.

The Codes can be numeric or alphanumeric. You can choose the button adjacent to the textbox to obtain a list of the existing General Ledger Codes. Description

Enter the title / name of the General Ledger Code. This can be a maximum of 50

characters in length.

P & L or Balance Sheet A/c (P/B) This is a drop down list. If the General Ledger Code being defined is a Profit & Loss

Account, enter Profit & Loss Account. On the other hand, if it is a Balance Sheet

Account, enter Balance Sheet. P & L Group/BS Group

Entry made against this field will depend upon your choice in the drop down list captioned PL or Balance Sheet Account. In case, you have already designed out

your Profit & Loss Account or Balance Sheet, then enter the Profit & Loss or Balance

Sheet Group Code under which this General Ledger Code should be reported. Sub Group

If you have made a valid entry against the PL / BS Group field, then you need to

make entry into this field as well. Cash/Bank Book

Opt for Yes, if it is a Cash/Bank General Ledger.

If you have answered Yes, you will have to enter data against the following fields.

Currency

Enter the Foreign Currency in which the Cash/Bank Book will be maintained. Blank,

if it is Local Currency. Cash/Bank Code

Enter a Code within one or three digits. This Code is going to be used on all Documents and Reports related to the above Cash/Bank Book.

Initial

You can give Initials within 4 characters for each of your Books for easier identification. FACT uses these initials for generating the screen Reports, where it is

not possible to display complete names.

Cash Book

Enter Yes, if the Book is a Cash Book. This will ensure that the System does not

prompt you for cheque details on Documents. Bank's Minimum Balance

This feature keeps you informed about the Overdraft Payments through Banks, or in case of fund position failing below minimum. This way you can have better

control over your balances in the Bank. Since you can keep a track of the minimum

limit in Bank you can stop issuing payment voucher through Entry / Vouchers for

the Bank for which the fund has gone below the buffer level. Alt GL Code

Enter a 25-character Alternate General Ledger Code, which may be put to use in situations where you need to use FACT data in other software.

Choose the Save button from the bottom of the window to store your settings. Click the Close button to return to the main menu.

Note: The Online nature of FACT requires that certain Control General Ledger Codes must be present before you can start entering the day to day transactions.

These General Ledger Codes are as follows.

In the Balance Sheet

Cash in Hand

One for each Banks Contra Entry

Profit & Loss Account (Retained Earnings)

Sundry Debtors (Accounts Receivable)

Sundry Creditors (Accounts Payable) Closing Stock (Balance Sheet)

In the P & L Statement

Opening Stock (PL Account) Closing Stock (PL Account)

Cash Sales

Credit Sales Sales Return

Cash Purchases

Credit Purchases

Purchase Return One each for Invoice Terms, Discount, Excise, Sales Tax.

Although there is no restriction at all in the way you codify your Ledger Codes, it is advisable to keep your assets, liabilities, income and expenses grouped together -

for easier identification.

You may encounter any of the following situations depending on the Bank Minimum

Limit defined and the Current Balance while entering data.

The Bank minimum Limit is 0 (Zero) or Blank:

When the Bank minimum limit is „0‟, the System allows you to enter the data. No message will be displayed throughout the entry.

For Opening Balance of General Ledger

Select Master

Select Opening Balance

Select General Ledger

Plus(+) in Asset side & Minus (-) in Liabilities

Save

Creation of Salesman or Agent

Select Master

Select Salesman/Agent

Select Add

Type Code number

Type name of Agent, Address, Postal Codes Commission Percent

Save

To View

Select AR/AP

Select Listing of Master

Select Salesman/Agent

The End