TRAVERSE

Recurring Entries In Most Applications 

Recurring entries are an efficient way to enter data that is  posted to various applications on a regular basis. Recurring entries can be rental or loan payments to Vendors, Invoices or Sales Orders that repeat for particular  Customers,  Service Charges applied monthly to Bank Accounts, or regular monthly postings to the General Ledger such as Depreciation and Amortization.           

These Recurring Entries do not have to be the same amount each month. You can either change the amounts in the recurring entry set up itself before you bring them into Transactions or you can change the amounts after you bring them in.

General Ledger         

In Setup and Maintenance assign a Recurring Entry Number to the transaction and enter all Debit and Credit information. The source RE is automatically assigned. Business Rules define whether or not you want these posted into Transactions that need to be written or directly into Edit transactions as written. Entries are brought in through the ‘Copy Recurring Entries’ function in the Transaction Menu. 

Accounts Receivable and Sales Order        

Both are found in Setup and Maintenance. After assigning a Recurring ID and Run Code you can also assign whether  this entry is brought in every number of days, monthly, quarterly, yearly, or as needed. A history will be kept on these entries and they will only be brought in once within the cycle that you assign to them.

The difference between AR and SO is that you can assign an Inventory Item to a Sales Order Recurring Entry, but you can only use descriptive items in Accounts Receivable.

To bring in these recurring orders go to Transactions and ‘Copy Recurring Entries’.

OSI Announces the 2011 Customer Excellence Conference           

Mark your calendars for September 14th and 15th. This year’s conference will again be in Las Vegas.           

These two days are packed with break out sessions for both TRAVERSE and OSAS, access to the Learning Lab and the Vendor Booths that will show you various software and programs that can enhance your current suite of applications. Also get a view of the latest releases of software that will shortly be coming your way.            

Watch the website for the early.

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Menus

While FAVORITES are a great way to have the menu items you use the most right there on a separate menu making it very easy for you to quickly select the menu item you want to enter you also have the ability to change the order of your Menu Selections.

To change the order of your menu selections go to System Manager, Setup and Maintenance, Application Menus.

You can change the order of the appearance of the applications on the menu or you can select the application itself and arrange the menu selections found under that application to be in the order that you want them to appear.

You can also HIDE menu selections if you want to.  

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Quick Payroll Reminders

* Employee Social Security (OAS) has dropped from 6.2%-4.2% for the year 2011.

* Employer Social Security  remains at 6.2% for 2011.

* Federal Tax Tables have increased for 2011.

* IN, SC, MI all have special FUTA requirements in 2011

* Earned Income Credit (EIC) is not longer allowed in 2011.

* If Payrolls were run in 2011 without reducing the OAS, when reduced this tax will be self adjusting and not take out additional tax until the previous overpayment is corrected by additional wages.

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GL Budgets for the New Year           

In the New Year go to Setup and Maintenance, Account Budgets and Forecasts.           

Select the BUDGET and click the ‘button’ next to the Company you want to work with. This will take you to DETAIL. Once in Detail, highlight and enter from Period 1, Year 2011 thru Period 12, Year 2011. Then either select the accounts you want to enter budget data for, or if you want all accounts to appear do not enter any account numbers.

Click the REFRESH button and it will bring in all the G.L. accounts that you have specified.

Exit out and go to Account Budgets (also in Setup and Maintenance).

Select the first General Ledger account you want to work with and click in the Period 01. This highlights the ADVANCED button. Select the advanced button and choose whether you want the AMOUNT that you entered to be:

* Duplicated in each period

* Allocated equally among all twelve periods

* A Dollar amount above Last Year’s actual amount

* A Percentage above Last Year’s actual amount

* A Dollar amount to increase each month by. (To use this function first insert your beginning dollar amount into Period 1 so that each Period after that will have the entered amount added to it.)

* A Percentage amount to increase each month by. (To use this function first insert your beginning amount into Period 1 so that each Period after that will have the entered percentage added to the amount.)

Once all budget amounts have been entered you will see them in the GL Account Inquiry (if your preferences are set to see budgets), as well as you can use the Layouts found in Management Report Setup to compare these budgeted amounts to the actual amounts.

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GL Budgets for the New Year

In the New Year go to Setup and Maintenance, Account Budgets and Forecasts.

Select the BUDGET and click the ‘button’ next to the Company you want to work with. This will take you to DETAIL. Once in Detail, highlight and enter from Period 1, Year 2011 thru Period 12, Year 2011. Then either select the accounts you want to enter budget data for, or if you want all accounts to appear do not enter any account numbers.

Click the REFRESH button and it will bring in all the G.L. accounts that you have specified.

Exit out and go to Account Budgets (also in Setup and Maintenance).

Select the first General Ledger account you want to work with and click in the Period 01. This highlights the ADVANCED button. Select the advanced button and choose whether you want the AMOUNT that you entered to be:

* Duplicated in each period

* Allocated equally among all twelve periods

* A Dollar amount above Last Year’s actual amount

* A Percentage above Last Year’s actual amount

* A Dollar amount to increase each month by. (To use this function first insert your beginning dollar amount into Period 1 so that each Period after that will have the entered amount added to it.)

* A Percentage amount to increase each month by. (To use this function first insert your beginning amount into Period 1 so that each Period after that will have the entered percentage added to the amount.)

Once all budget amounts have been entered you will see them in the GL Account Inquiry (if your preferences are set to see budgets), as well as you can use the Layouts found in Management Report Setup to compare these budgeted amounts to the actual amounts. 

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Recurring Entries In Most Applications        

Recurring entries are an efficient way to enter data that is  posted to various applications on a regular basis. Recurring entries can be rental or loan payments to Vendors, Invoices or Sales Orders that repeat for particular  Customers,  Service Charges applied monthly to Bank Accounts, or regular monthly postings to the General Ledger such as Depreciation and Amortization.               

These Recurring Entries do not have to be the same amount each month. You can either change the amounts in the recurring entry set up itself before you bring them into Transactions or you can change the amounts after you bring them in.

General Ledger               

In File Maintenance assign a Run Code to the transaction and enter all Debit and Credit information. The source RE is automatically assigned. Options and Interfaces define whether or not you want these posted into Transactions that need to be written or directly into Edit transactions as written. Entries are brought in through the ‘Copy Recurring Entries’ function in the Journal Transaction Menu. 

Accounts Receivable and Sales Order               

Both are found in File Maintenance. After assigning a Recurring ID and Run Code you can also assign a Cut Off Date so that after that date this particular Recurring Entry will no longer be brought in.               

The difference between AR and SO is that you can assign an Inventory Item to a Sales Order Recurring Entry, but you can only use descriptive items in Accounts Receivable.               

To bring in these recurring orders go to Daily Work, Transactions and ‘Copy Recurring Entries’. 

Accounts Payable and Purchase Order               

In File Maintenance in Accounts Payable setup a recurring entry and assign a Recurring ID and Run Code. After assigning a Recurring ID and Run Code you can also assign a Starting Balance, a Starting Date, Cutoff Date, and Number of Payments. As these recurring entries are brought in they will keep up with the remaining balance  and will cut off either when the Balance is zero or the Cutoff Date has been reached.  Recurring Entries can be set up separately in Accounts Payable or Purchase Order, or both. Inventory Items are not available in this function.                

In both AP and PO the ‘Copy Recurring Entries’ is found in Daily Work. In Purchase Order they are brought in with a status of NEW ORDER. In Accounts Payable they are brought in as invoices.

Bank Reconciliation

In File Maintenance select the Bank Account for this recurring entry and the Recurring Adjustment ID that you want to assign to this Adjustment. Enter the description and the other side’s General Ledger Account number that pertains to this Recurring Entry.

To access these entries in Bank Reconciliation, Transactions, select the Bank Account, and the Adjustment Tab. In the CHECK field enter and * before the ADJUSTMENT ID that you assigned to the Recurring Entry. You will then be prompted to Copy this Recurring Entry into the Adjustment section of the Transaction Entry. You can then D for Done or make changes to the entry.

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OSI Announces the 2011 Customer Excellence Conference

Mark your calendars for September 14th and 15th. This year’s conference will again be in Las Vegas.               

These two days are packed with break out sessions for both TRAVERSE and OSAS, access to the Learning Lab and the Vendor Booths that will show you various software and programs that can enhance your current suite of applications. Also get a view of the latest releases of software that will shortly be coming your way.

Watch the website for the early bird special at www.osas.com.

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Menus  OSAS

While FAVORITES are a great way to have the menu items you use the most right there on a separate menu making it very easy for you to quickly select the menu item you want to enter you also have the ability to change the order of your Menu Selections.

To change the order of your menu selections go to Resource Manager, System File Maintenance, Menus.

You can change the order of the appearance of the applications on the menu  by entering at Application ID to access Main Menu.

To change within a particular application select that application and select the menu that you want to change. You can Move, Swap, or Copy the menu items place.

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Bad Debt after Year End

The simplest way to write off Customer Invoices deemed to be Bad Debt at year end is to set up a Method of Payment as a write off and use the General Ledger Account for Bad Debt.

Using this Method of Payment for Bad Debt you can apply through Cash Receipts to the ‘Bad Debt’ invoices and post the transactions back to the last year.

You can also credit memo these ‘Bad Debt’ invoices and post them back to last year.

If ’Manual’ General Ledger entries have been made in the last year for these ’Bad Debt Write Off’s’ and you now need to actually remove the invoices from the Open Invoice File you can REVERSE the original journal entry through manual General Ledger Transactions and then use the Cash Receipts or Credit Memo method to write off these invoices in the current year.

The effect of this is a credit from the manual journal entry to bad debt and a debit from the Cash Receipt or Credit Memo to bad debt which is a net effect of zero in the current year. The expense remains in the last year.

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Quick Payroll Reminders

* Employee Social Security (OAS) has dropped from 6.2%-4.2% for the year 2011.

* Employer Social Security  remains at 6.2% for 2011.

* Federal Tax Tables have increased for 2011.

* IN, SC, MI all have special FUTA requirements in 2011

* Earned Income Credit (EIC) is not longer allowed in 2011.

* If Payrolls were run in 2011 without reducing the OAS, when reduced this tax will be self adjusting and not take out additional tax until the previous overpayment is corrected by additional wages.

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GL Budgets for the New Year

In the New Year go to General Ledger, File Maintenance, Account Budgets.

Enter the first General Ledger Account number that you want to enter budgets for, and select whether you want to manually enter each month’s budgeted amount or use the feature that will allow you to enter the budgeted amount quickly into each period.

Select whether you want to enter a FORECAST or a NEXT YEAR BUDGET. (For the rest of this article we will be assuming that Forecast was selected.)

Enter or select Period 1 and several options will appear below. The options are:

* DUPLICATE when selected will open up the Period 1 field allowing you to enter the dollar amount that you want to be duplicated into each month as that month’s budget.

* ALLOCATE when selected will open up the Period 1 field allowing you to enter a dollar amount that you want divided by 12 periods and will insert 1/12th of the amount you entered into each period.

* L/Y $ when selected will open up the Period 1 field allowing you to enter a dollar amount that you want added to each Period’s amount for that Period from Last Year’s Actual Amounts. You can use negative figures here if necessary

* L/Y % when selected will open up the Period 1 field allowing you to enter a percentage amount that you want each of the Last Year Period’s multiplied by and will insert that amount in each Period. You can use negative figures here if necessary.

Once all budget amounts have been entered you will see the budgets in the Account Inquiry, as well as using Layouts that have been pre-written in Statement Maintenance to produce financial statements using these budgets.

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Negative Amounts on Aged Trial Balance Reports               

If you run the Aged Trial Balance, either in Accounts Receivable or Accounts Payable and you see negative amounts printing here are some tips to help you understand why you are seeing these negative amounts:

Accounts Receivable

* A payment was applied to the Customer Account is waiting to be applied to an invoice.

* A credit memo that has not been applied to an invoice or has no invoice to apply to yet.

* An invoice dated in the future (accidently) and payment applied to the invoice on the proper date. Until paid invoices are PURGED this will remain until you are past the date of the incorrectly dated invoice. Or, you can credit memo the invoice to the wrong date and re-enter to the correct date.

Accounts Payable

* A credit memo is on file with no other invoices for that vendor.

* An invoice was incorrectly dated in the future and payment was applied on the proper date. Until paid invoices are PURGED or you pass the date this will remain. You can credit memo the incorrectly dated invoice and re-enter with correct date.

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