Accounting General

3:08

Enter and Post GL Journal Transactions

Enter and Post General Ledger Journal Transactions

1. Accounting Main Menu > General Ledger > Enter Journal Transaction
2. Click the form ADD icon
3. Choose Date (of Posting) and Company.  The Entry No. will auto-populate
4. Enter a Comment (title or reason for entry) as needed

Option 1: Enter lines manually:

1. Click the Transactions grid ADD icon
2. Double click in the Account column to select an Account Number.  The Select Account modal will open in a new window.  Select Account and Segment and click the OK button
3. Enter an Amount in Debit or Credit column
4. Repeat the above steps until done and the Entry is in balance – optionally, you may set an Entry Reversal Date at which point Q360 will auto create a matching reversing Entry
   Note:  You may ONLY edit a manually created journal Entry as long as the Fiscal Period is not closed
5. Click the form SAVE icon

Option 2: Import Journal Entries from file:

1. Click the Transactions grid ADD icon
2. Grid Extended Menu > Import Transactions
3. Browse for the import file or drag it into the Import Modal or upload from file
4. Click the Save button in the modal – Q360 will import the lines and display them in the grid ready to be edited (if needed)

Using option 1 or 2, when done, click the form SAVE icon to save and post the Journal Entry

6:49

Create a Balance Sheet

Create a Balance Sheet:

1. Accounting Main Menu > Admin > Designer > Balance Sheet Designer.  The Custom Balance Sheet form will open
2. Click the ADD icon.  The Add Custom Balance Sheet form will open
3. Enter a Title and optional Comment.  The Balance Sheet No. will auto-populate.
4. Click on the Design tab
5. To the left of the Statement Design grid, there is a Category icon.  Click this and in the modal that opens, click the Add Total or Add Header button.  In the Category pop up window that appears, enter the Category Name and then click the OK button.  Repeat this for all desired Headers and Totals.  Headers and Totals will appear as lines in the Statement Design grid. You may reorder these grid items using the Drag icon, “=” and dropping into your desired new order.
6. Add individual Sub Accounts to the above created Headers by highlighting the Header to which you wish to add Sub Accounts (in the Statement design grid).  Then, highlight a Sub Account (in the Accounts grid) and click the Accounts grid ADD icon.  You will see the Sub Account added to the Statement Design grid under the selected Header.
7. Once all Accounts and Sub Accounts have been added, you may wish to add a Total.  Add your Total line using step 5 above.  Highlight your new Total line in the Statement Design grid and in the Details section of the form, determine how you would like the Total to display and what you would like the Group Type to be.  Check or uncheck the Contra Flag and Double Underline checkboxes as needed to further refine your Total lines.
8. To calculate the Total, highlight your Total line in the Statement Design grid and then select Categories from the Categories grid.  Use the Categories ADD icon to add these under Categories nested under your Total
9.  Repeat steps 5-8 for Liabilities, Equity – all Sub Accounts listed in the Accounts grid should be used
10. Save the form using the form SAVE icon

Notes:

• Headers and Sub Headers may be reordered by dragging and dropping (use “=” icon)
• Custom Balance Sheets may be found at Accounting Main Menu> Reports > Balance Sheet.  Custom Balance Sheets will be listed in the Balance Sheet field drop down menu

Run a Balance Sheet:

1. Search for a Balance Sheet by opening Accounting Main Menu > Reports > Balance Sheet.  The Balance Sheet window will open
2. Fill in Time Period and select a Balance Sheet from the Balance Sheet field drop down menu
3. Optional: select a Company from the Company drop down menu and enter a Comment in the Comment field (this will appear in the second line of the Balance Sheet when it is printed)
4. Click the Run Report button.  A Print Report window will open
5. Select Report No., Print Destination and Print Format, and click the OK button

5:25

Create an Income Statement

Create an Income Statement

1. Got to Accounting Main Menu > Admin > Designer > Income Statement Designer and click the ADD icon
2. On the header tab, enter a Title and Comments (if desired)
3. On the Design tab, open the Add Category icon and click the “+ Header” button.  The Header will appear in the left window.  Repeat for any additional Headers or Sub Headers needed
4. Add Accounts to a Sub Header by highlighting the Sub Header in the left Statement Design grid and then highlighting Accounts in the Accounts grid.  Click the grid ADD icon.
5. Repeat process (steps 3-4) for as many Headers and Sub Headers as necessary
6. To add a Total line, open the Add Category icon and click the “+ Total” button.  Total Details may be clarified in the Details section of the form
7. Define the categories (Headers) that you wish to be included in the Total by highlighting the Total line in the Statement Design grid and selecting Categories from the Categories grid, clicking the grid ADD icon after highlighting each
8. Repeat steps 3-4 and 6-7 for Expenses (i.e. Operating Costs, Salaries, Misc.) and Expense Totals respectively
9. Create a Net Profit / Loss Header (step 3)
10. To create a calculation for Net Profit / Loss, highlight this line in the Statement Design grid and in the Categories grid, select each Header / Sub Header and click either the grid ADD icon or the grid SUBTRACT  icon depending on whether each should be added to or subtracted from the total i.e. + Income Headers – Expense Headers
11. Save the form

Note: Headers and Sub Headers may be rearranged by dragging and dropping them

To see your newly created Income Statement, go to Accounting Main Menu > Reports > Income Statement.  Select a Company, Income Statement, Time Period and any other additional details, and click the Run Report button.  A Print Options window will open, from which you may select how you would like your Income Statement displayed or printed.  Note: Comments entered on the Income Statement form will display on the second line of the printed / displayed Income Statement

Define one or more Budgets for varying Periods or Date Ranges (e.g., Organizational, Departmental or a mix of cost budgets and income targets)

5:56

Define a Budget

1. Define a budget – Accounting Main Menu > Budgets > Define Budgets
2. Export Load Sheet, import Load Sheet, or create a new Load Sheet
3. Compare Budget to Actual amounts using Live Data Reports

Detailed instruction for Budget creation may be found at Budgets

1. Accounting Main Menu > Budgets > Define Budgets
2. Click the form ADD icon.  A Budget: Add form will open and will display some auto-populated information including the Company No., Fiscal Year, Start and End Dates, and Budget No.
3. Add a Title for this Budget and edit any other information as needed
4. Click the SAVE icon
5. From the form Extended Menu, select Export Load Sheet, Import Load Sheet, or Create a New Load Sheet

Manually Add Accounts:

1. Follow steps 1-4 above and then on the Accounts tab, click the Accounts grid ADD icon and select option “Add Item.”  A new row will appear in the grid
2. Click the grid EDIT icon and add information directly in the grid, Account, Description and Type
3. Click the grid SAVE icon
4. Alternatively, you may use the grid ADD icon to Select One Account, Select All Accounts, Select One Account with Segment, or Select All Accounts with Segment

By Period Tab:

• This tab allows you to view a Budget Period based on the Start and End Dates.  Navigate between periods using the Period drop down menu.
• The ADD icon on this tab will allow you to build a Period
• The Extended Menu on this tab will allow you to Update Actual Amounts, Update Budget Amount from History, or Adjust Budget Globally
  • Update Actual Amounts: will update the values in the Actual column for each Account
  • Update Budget Amount from History: will update the values in the Budget column using the previous twelve months’ Actual values (for the defined GL Account)
  • Adjust Budget Globally: grid must be in EDIT mode.  This option will open a window with several options, Adjust Income %, Adjust Expense %, Adjust Income $, and Adjust Expense $.  Note: updates made here will apply to all Income or Expense GL Accounts (as applicable).

By Account Tab:

• This tab allows you to view a multi-period budget in a rolled-up view for a single Account
• Use the Account drop down menu to navigate between Accounts

Combined Tab:

• This tab allows you to view a multi-period budget in a rolled-up view across multiple Accounts

Budget Grouping instruction for printing purposes may be found at Budget Groups

4:39

Perform a Bank Reconciliation

Bank Reconciliation

1.  Accounting  Menu > Bank Reconciliation

2.  Select Company No.

3.  Select GL Account (Account No. field) to reconcile – any bank flagged account may be reconciled

4.  Set desired option in Group Receipts By:

• • Check No.: collapses all payments that are part of the same payment reference number to one row
  • Date: collapses all payments or receipts from a given day to one row
  • Batch No.: collapses all receipts that are part of the same batch reference number to one row
  • None: shows each individual payment or receipt as a separate row in order of occurrence

5.  Choose the Ending Date for reconciliation – You may select an existing Ending Date to update the ongoing reconciliation by reconciling additional new transactions

6.  If the Opening Balance is enabled, this is your first bank reconciliation with this account in Q360 and you will need to enter the correct Opening Balance from your Statement before clicking the Save button.  This field will not be editable after this first entry.

7.  Enter or update Ending Balance

8.  Select one or more transactions to reconcile using the checkboxes in the grid

9.  Click the Clear Selected icon to reconcile (or un-reconcile selected transactions).  Line Items will turn green when reconciled.

10.  When done, click the Save button

Note:  you may use the History tab to review or print a list of past reconciliations

2:06

Close Accounting Periods

Edit or Close Fiscal (Calendar) Periods:

1. Go to Accounting Menu > Admin > GL Admin > Fiscal Calendar (or Accounting Menu > Month End > Close a Fiscal Period)
2. Use the grid Filters to select the Company No. and Fiscal Year you wish to edit or close
3. Click the EDIT button
4. Use the checkboxes in the AR Closed, AP Closed, and / or GL Closed columns to select which periods you wish to close.  You may also select “Block Time Bill Posting” which will prevent any time bills from posting or un-posting within that period after close.
5. Click the SAVE button

Note: Closing Periods will prevent anyone other than you from making Accounting record changes in the Periods you have closed

Periods may be reopened if necessary by placing the form in EDIT mode, unchecking Period checkboxes, and saving the form again.  Periods may only be reopened if the Fiscal Year has not been closed

2:05

Close an Accounting Year

Close an Accounting Year

1.        Accounting Main Menu > Admin > GL Admin > Fiscal Calendar OR Accounting Main Menu > Month End > Close a Fiscal Period.  The Fiscal Calendar Admin window will open.

2.        Filter by Company Name and Fiscal Year

3.        Click EDIT

4.        Choose and check off which AR, AP, GL and FY you would like to close

5.        Save

Note: if all of your AR, AP, and GL periods for the FY have already been closed, you may use the Extended Menu option Close Fiscal Year.  You will be asked to confirm you decision several times as this cannot be undone.

3:32

Review and Post Time Bills

Post Time Bill records individually or in multiples

Review or Post Time Bill(s) from the Time Bill Post Queue

1. Go to Projects Main Menu > Post Time Bill Records.  The Time Bill Post Q will open.
2. Use FILTERS icon to narrow Time Bills grid results
3. Grid row colors indicate specific information:
   • Green: Totals for a specific User on a specific Date
   • Yellow: All Time Bills for a specific User
   • White: individual Time Bills (to be posted)
   • Blue: Grand Total for all records
4. Highlight the Time Bill(s) you wish to post and then click the POST SELECTED TIME BILLS icon above the grid.  A confirmation window will open.
5. Click OK to confirm
6. When the Time Bills have posted, you will receive a “Success” message in a pop up window.  Click OK.  Posted Time Bills will be removed from the grid.  To view all posted and unposted Time Bills, check the “Show All” checkbox above the grid

Time Bill Post Queue Options

Additional Time Bill options are available on the Time Bill Post Queue Extended Menu

• Change Wage Type for SELECTED
• Split Time Bill(s)
• Reject Time Bill(s)

Post an individual Time Bill record

1. 1. Go to the Time Bill record (or search from File Main Menu > Time Bill or Call / Task / Sales Opportunity the Time Bill is linked to)
   2. Select Extended Menu > Post Time Bill
      • Notice the Time Bill record’s Posted Flag is set to “P”; no further edits are possible for this Time Bill
      • System writes a Journal Entry, visible if you have permissions: Extended Menu > View GL Entry

3:35

Post Project COGS and Revenue

Costs of Goods Sold (COGS) and Revenue must be posted in a timely manner to create the necessary journal entries.  Posting Project COGS recognizes Cost such as Materials that are associated with a Project, while posting Project Revenue recognizes all the Revenue earned to date for a Project, based on the percentage of job completion

Post Project COGS

1. Open a Project
2. Click the Extended Menu icon and select Post Project COGS.  A posted Invoice is automatically generated with the Invoice Type field set to PROJ_COGS.  This record can be closed
3. On the Profit tab click the Refresh icon, and note the following:
   • Depending on the costing method used, the Percent Cost Complete field is updated
   • The Actual column, WIP field value is moved to the Actual > Material and the Earned > Material fields
   • Clicking on either the Actual or Earned column > Material hyperlinks allows you to view the GL journal entries

Post Project Revenue

1. Open a Project and click the Profit tab.  Current un-posted Revenue for a Project is reflected in the Earned column > Un-Post Rev. field
2. Click the Extended Menu icon and select Post Project Revenue
3. Select a Date to post Revenue and click OK.  A “Success” message will appear when the Revenue is successfully posted.
4. From the Profit tab click the Refresh icon, and note the following:
   • The value in the Earned column > Un-Post Rev. field is moved to the Earned column, Revenue field
   • Clicking on the Revenue hyperlink displays the posted journal entries

2:54

Create Closing Entry for Projects

When a Project is ready to be closed, a closing GL journal entry may need to be created in the system to ensure that there are no outstanding records to process such as POs or Invoices

1. Open a Project you want to view
2. Click the Extended Menu and select Create a Closing Entry.  A confirmation window will open asking “This will recognize all revenue.  Are you sure?”  Click OK if you are sure.
3. Enter the closing entry Date and click OK.  If there are any outstanding transactions that require attention, a list will display (per the Check Project Close verification process), including unprocessed Change Orders or Un-posted Time Bills.  Address these items first before re-attempting
4. Once there are no impediments to the Project closure, the system will do the following:
   • Write a closing Journal Entry, if necessary
   • Set the Project Close Date
   • Set the Project Status field to COMPLETED

When the closing entry is created, the Project is no longer ACTIVE, and system will not allow any further transactions that could affect the Project Revenue or Cost

4:33

Find and View AR, AP, GL Journal Entries

Accounting Main Menu > General Ledger > View GL Journal

1. Go to Accounting Main Menu > General Ledger > View GL Journal
2. Click the Filters icon
3. Choose filters:
   1. Journal
   2. Account No.
   3. Company
   4. Journal Type
   5. Time period
4. Drill into entry to see further details

Accounting Main Menu> Accounts Receivable > View AR Journal

1. Accounting Main Menu > Accounts Receivable > Find AR Journal
2. Click the Filters icon
3. Choose filters:
   1. Journal
   2. Account No.
   3. Company
   4. Journal Type
   5. Time period
4. Drill into entry to see further details

Accounting Main Menu > Accounts Payable > View AP Journal

1. Accounting Main Menu > Accounts Payable > Find Journal
2. Click the Filters icon
3. Choose filters:
   1. Journal
   2. Account No.
   3. Company
   4. Journal Type
   5. Time period
4. Drill into entry to see further details

Accounting Main Menu > Quick Views > Account Detail

1. Accounting Main Menu > Quick Views > Account Detail
2. Click the Filters icon
3. Choose filters:
   1. Company No
   2. Start Date
   3. End Date
   4. Account
   5. Sub Account
4. Drill into entry to see further details

Accounting Main Menu> Accounts Receivable >Find AR Journal Entry

1. Go to Accounting Main Menu > Accounts Receivable > Find AR Journal Entry
2. If you know the Entry Number, enter it in the search field. If you do NOT know the Entry
   Number, click on the search button in the search field
3. Drill into entry to see further details

Accounting Main Menu > Accounts Payable >Find AP Journal Entry

1. Go to Accounting Main Menu > Accounts Payable > Find AP Journal Entry
2. If you know the Entry Number enter it in the search field. If you do NOT know the Entry
   Number, click on the search button in the search field
3. Drill into entry to see further details

0:52

View Accounting Quick Views, Reports, Live Data

1. Accounting > Quick Views
2. Accounting > Reports
3. Live Data > Accounting

You may find detailed information on specific Accounting-related reports on our Help Center under Knowledge Base > Reports

The Cash Flow Forecast live data report provides visibility into the current and future cash position of your company by leveraging the information within Q360 as it pertains to bank account balances and expected receivables and payables over a given period.

1. Navigate to Live Data Main Menu > Accounting > Cash Flow Forecast Detail
2. Use grid filters to narrow results if necessary.  Filter options include Company, Branch, # of Periods, Time Unit, Base Currency, Age By, Periods to Collect, Fixed Periods to Avg, Fixed Adjustment %, and three checkboxes that allow inclusion of Project Invoices, Project Cost and / or Service Contract Invoices
3.  Note: if Cash Flow Forecast is not reflecting what you expect, consider revisiting your GL Accounts (Accounting Main Menu > Admin > GL Admin > GL Accounts).  Make sure your Fixed accounts are flagged as such – these will impact your “Fixed Periods to Average” and “Fixed Adjustment %.”

Cash Flow Forecast Sections:

• Bank
• AR w Overdue
• AR Current/Estimated
• UnInvoiced Project
• UnInvoiced Serv Cont
• AP
• Overhead

For additional information on Cash Flow Forecast usage and sections, see KB article Cash Flow Forecast