Account Setup Summary/Parent/Child

How to restrict use - Subsidiary, DLC, Role

Chart of Accounts Account types

Banking Subsidiary
Currency
Undeposited funds
How to post adjustments while in bank rec
Check printing
Check voiding
Reasons to void

Payments made by customer

Cash sale
Customer Deposit

AR SO creation>SO approval>Items fulfilled>Invoice>receive payment

*SO is non posting transaction until is fulfilled

Anytime, there could be adjustments - issue CM/Refund

unpaid invoice - CM
paid invoice - CM>Refund
customer deposit>Refund
cash sale>Refund

What happens if there is a customer return?

Issue Return Authorization>Approved>Receive Item>CM>Refund

Breakdown of all outstanding invoices are in GL

Billing schedule
Standard - SO
Fix bid (Interval) - bill at predetermined schedule @ percentage of completion
Fix bid (milestone) - bill when a certain milestone is achieved
Time & material
Charge

AP PR>PO>Order Received>Bill>Payment
 You can create bills without PO

Write check vs bills payment -

Vendor Subsidiary and Currency
Changing currency in PO (check in NS) - can no longer edit, follows first transaction created
Variance JE (check in NS) - when is Variance JE booked? PO, Receipt, Bill

JE Reversal entries can be delayed - change reversal date and tick defer entry
Memorized transactions

Budgeting Global - root/parent

Local - subsidiary
Can have multiple budget (as categories)
Setup only for PL accounts? No, we can setup for all.
Elimination subsidiary/account

Intercompany JE

Expense Allocation Can have multiple source and destination

Fixed - allocation where schedules must have predefined weightings that do not change
Dynamic - allocation that must use statistical accounts

IC allocation (check in NS)

Period YE
Accounting period creation - 1 year recommended
Subsidiary=1 fiscal calendar
1 calendar may be shared by multiple sub
PL, SL, FC, PC

Period Lock
Subsidiary level adj
Financial consolidation
Period close