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HELP GUIDE
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GENERAL FAQs
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Table of Contents Page
1. How do I accept a repeat transaction? .................. 3
2. How do I change my password? ........................... 4
3. How do I update my email address? ..................... 5
4. Usage Tips - Corporation Tax ...... 8
5. Usage Tips - Loans ......... 10
6. Usage Tips - Fixed Assets .. 11
7. Usage Tips - Drawings .... 12
8. Usage Tips - Petty Cash ..... 13
9. Usage Tips - Directors/Owners Loan Account ... 15
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1. How do I accept a repeat transaction?
The system checks the due date for any repeat transactions. If it has passed, a reminder is
displayed on the home page.
LEFT MENU SELECTION: My Details
SUBSECTION Accept repeat transactions
1 A list of all the transactions requiring attention is shown.
2 Each line has a button to perform a specific function on that item.
Accept The entry is automatically recorded as shown.
Accept & Edit Change the transaction details before accepting it.
Dismiss Dismisses this instance of the repeat transaction.
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2. How do I change my password?
LEFT MENU SELECTION: My Details
SUBSECTION: Company Details
1 Tick the box shown at the change Password option at the bottom of the right hand
side of the screen.
2 Two additional boxes are shown. Enter the new password, and then again to
confirm it.
3 Click Updateto save the password.
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3. How do I update my email address?
LEFT MENU SELECTION: My details
SUBSECTION: Company details
1 Delete the email address shown and enter a new one.
2 Click Update, the revised email address is saved and must be used for future
logins.
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4. Usage Tips - Corporation Tax
1) Corporation tax payments
Once the years tax provision has been made, payments should be set against the
Current Liability
Corporation Tax and not against the Profit & Loss Expense.The Profit & Loss Expense heading was used in 1) above to record the tax charge
in the prior period, the period to which the charge related.
To apply the Corporation Tax payment to the Current LiabilityCorporation Tax;
1) Click Expenses
2) Click Record Expenses
3) Record an Expense as normal BUT select the Current Liability
Corporation Tax from the drop down list. NOTE: The balance headings
appear on the drop down list after the Expense headings
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5. Usage Tips - Loans
Care should be taken when recording Loans and any repayments made on them.
To set up a new Loan Account
1) Click Bank Accounts
2) Click Loan Account Creationand complete the boxes. Boxes marked
with an asterisk are mandatory, the other are optional.
3) Click Add a Loan Account.
After the Loan Account has been created use the Bank Accounts, Transfer
function to transfer funds between bank and loan accounts. Use the same
function to move funds between bank accounts, loan account and credit card
accounts. Please refer to the Bank FAQ for more information.
Do not use the Expenses, Record Expensesfunction to record loanrepayments. Use this function to record Interest Payments. Care should be
taken to split Loan repayments between Capital and Interest. Capital Repayment
should be recorded using the Transfer function described in the previous
paragraph.
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7. Usage Tips - Drawings
Unincorporated businesses should use the Personal section to record any
drawings taken from the bank account. The Drawingsfunction reduces the
balance in the bank and increases the amount owed by the owner/partner to the
business.
The bookkeeping that is performed is;
Debit Owners/Partner Loan Account
Credit Bank or Payment Method
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8. Usage Tips - Petty Cash
Any income or expense transaction can be recorded using cash as the payment
method by selecting it specifically from the drop down list of offered during
transaction entry.
Select cash as the method of payment, the system does the following
bookkeeping
Income Dr Cash
Cr Income Heading Selected
Expense Dr Expense Heading
Cr Cash
Manage the petty cash by selecting Bank Accounts, Deposit. The amount
entered in the Cash Deposited box is used to increase the Bank balance and
decrease the petty cash (cash on hand) balance. Complete the boxes, the
asterisked boxes are mandatory and click Add Bank Deposit.
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To take cash out of the bank and top up the petty cash tin use Bank Accounts,
Withdrawal. This reduces the amount in the bank and increases the value of
petty cash on hand. Complete the boxes, the asterisked boxes are mandatory
and click Add Withdrawal.
At period end before filing the Gabriel report, review the Accountant, View ETB
(extended trail balance) and check the balance on the petty cash heading for
reasonableness. The system displays how the balance is made up if the heading
is clicked. Take note of the autoref numbers so that items can be edited later via
the Income, List Incomeand Expenses, List Expensesscreens if the payment
method needs changing.
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9. Usage Tips - Directors/Owners Loan Account
Any transaction recorded using Personalhits the Directors/Owners Loan
account (DLA). Review the balance on the DLA visible at Accountant, View
ETBprior to filing the Gabriel report.
If there is a Debit balance on the DLA consult with an accountant as there may be
a contravention of the Companies Act which prohibits loans from a company to
its Director(s).
If there is a Credit balance on the DLA it signifies that the company owes that
amount to its Director(s).
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10. Usage Tips -