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Epicor ERP

General Ledger Course10.0.700.2



Disclaimer

This document is for informational purposes only and is subject to change without notice. This document and itscontents, including the viewpoints, dates and functional content expressed herein are believed to be accurate as of itsdate of publication. However, Epicor Software Corporation makes no guarantee, representations or warranties with

regard to the enclosed information and specifically disclaims any applicable implied warranties, such as fitness for aparticular purpose, merchantability, satisfactory quality or reasonable skill and care. As each user of Epicor software islikely to be unique in their requirements in the use of such software and their business processes, users of this documentare always advised to discuss the content of this document with their Epicor account manager. All information containedherein is subject to change without notice and changes to this document since printing and other important informationabout the software product are made or published in release notes, and you are urged to obtain the current releasenotes for the software product. We welcome user comments and reserve the right to revise this publication and/ormake improvements or changes to the products or programs described in this publication at any time, without notice.The usage of any Epicor software shall be pursuant to an Epicor end user license agreement and the performance ofany consulting services by Epicor personnel shall be pursuant to Epicor's standard services terms and conditions. Usageof the solution(s) described in this document with other Epicor software or third party products may require the purchaseof licenses for such other products. Where any software is expressed to be compliant with local laws or requirementsin this document, such compliance is not a warranty and is based solely on Epicor's current understanding of such laws

and requirements. All laws and requirements are subject to varying interpretations as well as to change and accordinglyEpicor cannot guarantee that the software will be compliant and up to date with such changes. All statements ofplatform and product compatibility in this document shall be considered individually in relation to the products referredto in the relevant statement, i.e., where any Epicor software is stated to be compatible with one product and alsostated to be compatible with another product, it should not be interpreted that such Epicor software is compatiblewith both of the products running at the same time on the same platform or environment. Additionally platform orproduct compatibility may require the application of Epicor or third-party updates, patches and/or service packs andEpicor has no responsibility for compatibility issues which may be caused by updates, patches and/or service packsreleased by third parties after the date of publication of this document. Epicor® is a registered trademark and/ortrademark of Epicor Software Corporation in the United States, certain other countries and/or the EU. All othertrademarks mentioned are the property of their respective owners. Copyright © Epicor Software Corporation 2014.All rights reserved. No part of this publication may be reproduced in any form without the prior written consent of

Epicor Software Corporation.

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Contents

General Ledger Course...........................................................................................................6

Before You Begin....................................................................................................................7

Audience.........................................................................................................................................................7Prerequisites....................................................................................................................................................7

Environment Setup..........................................................................................................................................7

Workshop Constraints..............................................................................................................................8

Overview.................................................................................................................................9

Application Setup.................................................................................................................10

Company Configuration................................................................................................................................10

Workshop - Set GL Journal Tax Options in Company Configuration .......................................................12

Maintenance Programs..................................................................................................................................13

Fiscal Calendar Maintenance...................................................................................................................13

Closing Periods................................................................................................................................14

Workshop - Create a Fiscal Calendar................................................................................................14

Define a Fiscal Calendar...........................................................................................................14

Add a Fiscal Year......................................................................................................................14

Generate Periods for a Fiscal Year.............................................................................................15

Earliest Apply Date Entry.........................................................................................................................15

Detail ..............................................................................................................................................16

Chart of Account Structure Maintenance................................................................................................16

Default COA Categories..................................................................................................................17

Dynamic Account Segments............................................................................................................17

Account Segment Entry Control......................................................................................................18Balance Settings..............................................................................................................................18

Workshop - Create a Chart of Accounts..........................................................................................18

Create a Chart of Account Structure.........................................................................................18

Define a Chart of Account's Controlled Segments....................................................................19

Add a Dynamic Segment..........................................................................................................20

Trial Balance Report.........................................................................................................................20

Chart of Account Listing Report.......................................................................................................21

Balance Controls.....................................................................................................................................22

Daily Balances Setup...............................................................................................................................24

COA Category Maintenance...................................................................................................................25Workshop - Create COA Categories................................................................................................25

Workshop - Copy COA Categories..................................................................................................27

Account Segment Values........................................................................................................................28

Natural Account Options.................................................................................................................28

Workshop - Create Account Segment Values...................................................................................28

Workshop - Change a Segment Value's COA Category....................................................................30

Workshop - Add a Department Value..............................................................................................31

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ContentsGeneral Ledger Course



Restricted Function Maintenance............................................................................................................31

General Ledger Account Maintenance....................................................................................................32

Workshop - Add General Ledger Accounts......................................................................................33

Generate Accounts..........................................................................................................................34

Workshop - Generate and Review GL Accounts........................................................................35

General Ledger Report.....................................................................................................................36

Book Maintenance..................................................................................................................................36Retained Earnings............................................................................................................................37

Workshop - Create a Book..............................................................................................................38

Validation Rules...............................................................................................................................39

Workshop - Review Validation Rules.........................................................................................39

Book Listing Report.........................................................................................................................40

Chart of Accounts Mapping....................................................................................................................40

GL COA Reference Type.........................................................................................................................41

Workshop - Add a Reference Type and an Account Mask................................................................42

Add a Reference Type to a COA...............................................................................................42

Create an Account Mask..........................................................................................................42Define Reference Segment Values............................................................................................42

Journal Code Maintenance.....................................................................................................................43

Business Entity........................................................................................................................................44

GL Control Type Maintenance................................................................................................................45

GL Control Maintenance.........................................................................................................................45

Workshop - Add GL Controls to a Business Entity............................................................................46

GL Account Budget Maintenance...........................................................................................................47

Workshop - Create an Account Budget...........................................................................................47

GL Account Allocation Maintenance.......................................................................................................48

Workshop - Modify an Account Allocation.......................................................................................49Recurring Journal Entry...........................................................................................................................49

Workshop - Create a Recurring Journal Entry...................................................................................50

Create a Recurring Journal Entry...............................................................................................50

Add Lines to a Recurring Journal Entry......................................................................................50

Generate a Schedule................................................................................................................50

Update an Entry Schedule........................................................................................................51

Daily General Ledger Processing.........................................................................................52

Apply Recurring Journals................................................................................................................................52

Workshop - Apply and Review Recurring Journals...................................................................................52

Apply Recurring Journals.................................................................................................................52

Review the Recurring Journal Entry Group.......................................................................................53

Review Journal...............................................................................................................................................53

Workshop - Review a GL Journal with Errors...........................................................................................54

Create a Miscellaneous AR Invoice...................................................................................................54

Add an Invoice Line and Tax Code...................................................................................................55

Post and Review the AR Invoice.......................................................................................................55

Cancel a Journal Entry.....................................................................................................................55

GL Journal Entry.............................................................................................................................................56

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General Ledger CourseContents



Workshop - Create Journal Entries..........................................................................................................56

Enter a Journal Entry Group.............................................................................................................56

Create a Journal..............................................................................................................................57

Add Journal Lines............................................................................................................................57

Create an Allocated Journal Entry....................................................................................................57

Create a Journal with Tax Lines........................................................................................................58

Add Journal Lines............................................................................................................................58Print an Edit List...............................................................................................................................59

Post a Journal Entry Group..............................................................................................................59

Journal Listing.........................................................................................................................................59

GL Trackers....................................................................................................................................................60

Workshop - View GL Journal Transactions...............................................................................................60

Select Journal Codes to Track..........................................................................................................60

Verify Transaction Details.................................................................................................................60

Track Specific Journal Details...........................................................................................................61

Specialized General Ledger Processing...............................................................................62

GL Transaction Matching...............................................................................................................................62General Ledger Account Summary Report...............................................................................................62

Automatic Transaction Reversal......................................................................................................................63

Close Period Entry..........................................................................................................................................64

Workshop - Close Fiscal Periods..............................................................................................................64

Workshop - Reopen a Fiscal Period.........................................................................................................65

Transfer Opening Balances to Next Year.........................................................................................................65

Financial Report Designer...............................................................................................................................65

Report Wizard........................................................................................................................................66

Workshop - Use the Report Wizard to Create a Balance Sheet.........................................................67

Syntax Check..........................................................................................................................................67Customize Financial Reports...................................................................................................................68

Report Details..................................................................................................................................68

Rows...............................................................................................................................................69

Sequence and Line Types..........................................................................................................69

Columns..........................................................................................................................................70

Column Sets.............................................................................................................................70

Column Types..........................................................................................................................70

Workshop - Customize a Financial Report........................................................................................72

Create a Financial Report..........................................................................................................72

Add Rows................................................................................................................................72

Add a Column..........................................................................................................................73

Financial Reports.....................................................................................................................................73

Workshop - Process and Save a Financial Report..............................................................................74

Preview a Financial Report........................................................................................................74

Save the Report as an Excel File................................................................................................74

Conclusion.............................................................................................................................75

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ContentsGeneral Ledger Course



General Ledger Course

This course provides a clear perspective of the maintenance programs, concepts, processes, and reporting toolsyou encounter as you work within the General Ledger (GL) module.

Upon successful completion of this course, you will be able to:

• Identify the key maintenance program configurations that directly impact the general ledger cycle.

• Construct a GL account by creating account segments.

• Define segment values and generate a chart of accounts (COA) based on these definitions.

• Create, close, and reopen fiscal periods in multiple fiscal calendars.

• Analyze how GL control types and GL control codes affect the GL transaction hierarchy.

• Post manual, recurring, allocated and reversing journal entries.

• Identify the reports and trackers that are important to review in order to maintain GL integrity.

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General Ledger CourseGeneral Ledger Course



Before You Begin

Read this topic for information you should know in order to successfully complete this course.

Audience

Specific audiences will benefit from this course.

• AP Clerk

• AR Clerk

• CFO/Controller

• Cost Accountant

• Payroll Staff

Prerequisites

To complete the workshops in this course, the necessary modules must be licensed and operating in your trainingenvironment. For more information on the modules available, contact your Epicor Customer Account Managerat [email protected]. It is also important you understand the prerequisite knowledge contained in othervaluable courses.

• Navigation Course - This course introduces navigational aspects of the Epicor application's user interface.Designed for a hands-on environment, general navigation principles and techniques available in two user

interface modes - Classic Menu and Modern Shell Menu. Workshops focus on each of these modes andguide you through each navigational principle introduced.

• System Flow Course - This course introduces a basic quote to cash scenario that includes the process fromthe initial customer quote to final cash receipts and payment of supplier invoices. This course emphasizes theseries of processes that make up the quote to cash process by using a simple scenario to highlight varioustransactions. Your organization may have more complex processing routines than those described in thiscourse.

• Financial Foundations Course - This course introduces you to the maintenance modules and programs inthe Epicor application that set the basis for the financial activities within your company.

Environment Setup

The environment setup steps and potential workshop constraints must be reviewed in order to successfullycomplete the workshops in this course.

Your Epicor training environment, in which the Epicor demonstration database is found, enables you to experienceEpicor functionality in action but does not affect data in your live, production environment.

The following steps must be taken to successfully complete the workshops in this course.

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Before You BeginGeneral Ledger Course



1. Verify the following or ask your system administrator to verify for you:

• Your Epicor training icon (or web address if you are using Epicor Web Access) points to yourEpicor training environment with the Epicor demonstration database installed. Do not completethe course workshops in your live, production environment.

Note It is recommended that multiple Epicor demonstration databases are installed. ContactSupport or Systems Consulting for billable assistance.

• The Epicor demonstration database is at the same service pack and patch as the Epicorapplication. Epicor's education team updates the Epicor demonstration database for each service packand patch. If your system administrator upgrades your Epicor application to a new service pack or patch,he or she must also download the corresponding Epicor demonstration database from EPICweb > Support> Epicor > Downloads and install it. If this is not performed, unexpected results can occur when completingthe course workshops.

• Your system administrator restored (refreshed) the Epicor demonstration database prior tostarting this course. The Epicor demonstration database comes standard with parts, customers, salesorders, and so on, already defined. If the Epicor demonstration database is shared with multiple users(that is, the database is located on a server and users access the same data, much like your live, productionenvironment) and is not periodically refreshed, unexpected results can occur. For example, if a courseworkshop requires you to ship a sales order that came standard in the Epicor demonstration database,but a different user already completed this workshop and the Epicor demonstration database was notrestored (refreshed), then you will not be able to ship the sales order. Epicor's education team has writtenthe course workshops to minimize situations like this from occurring, but Epicor cannot prevent usersfrom manipulating the data in your installation of the Epicor demonstration database.

2. Log in to the training environment using the credentials manager/manager. If you are logged into yourtraining environment as a different user, from the Options menu, select Change User.

3. From the Main menu, select the company Epicor Education (EPIC06).

4. From the Main menu, select the Main site.

Workshop Constraints

Below is a list of workshops in this course that can be performed only once in each instance of a restored (refreshed)database. Where applicable, a detailed explanation of the workshop constraints is documented in the workshopitself.

• Workshop - Create COA Categories

• Workshop - Change a Segment Value's COA Category

• Workshop - Add a Department Value

• Workshop - Add General Ledger Accounts (Only steps 7-10 cannot be completed).

•Workshop - Generate and Review GL Accounts

• Workshop - Add GL Controls to a Business Entity and Review Account Context

• Workshop - Modify an Account Allocation

• Workshop - Apply and Review Recurring Journals (Only the first task - Apply Recurring Journals cannot becompleted).

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General Ledger CourseBefore You Begin



Overview

During implementation, not many setup steps outweigh the importance of defining a company's chart of accounts(COA). In the General Ledger (GL) module, COA definition is a critical factor that can impact how a business

operates on a day-to-day basis.At the core of the general ledger lies a company's COA, or ensemble of GL account numbers. Each company hasthe ability to create multiple charts of accounts. On the outer walls of the accounts are unique segments,categories, allocations, references, and configurations which define each account the chart contains. The designof each wall significantly impacts the ability to easily prepare financial reports for each area of business in acompany.

Fiscal calendar definition also greatly affects how transactions display within reports and also how they post tothe general ledger. Each calendar defined contains fiscal years and periods which provide a map of date rangesthat guide transactions to post to precise groups based on individual posting dates. This transactional separationallows companies to keep accurate records for a set fiscal year, and furthermore, for multiple fiscal calendars.

Similar to all financial modules in your application, the GL module follows a transactional hierarchy, but it can

ultimately be changed to suit a company's needs through the setup and use of GL controls and user-definedposting rules.

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OverviewGeneral Ledger Course



Application Setup

Several maintenance programs located throughout the Epicor application affect a company's general ledgerprocess flow. This section of the course focuses on the essential company configuration and General Ledger

module maintenance items you must complete prior to processing transactions that affect the general ledger. Inorder to convey an accurate ledger, it is important to know the hierarchical flow of all transactions in yourapplication.

This course focuses specifically on transactions which take place within the General Ledger module. Take notethat the Accounts Receivable, Accounts Payable, Payroll, and Inventory modules also have defined hierarchiesthat should be reviewed before going live in your environment. If your company requires alternate hierarchies,you can revise the posting rules in GL Transaction Type Maintenance to alter them. For more information onuser defined posting rules, refer to the Application Help.

Company Configuration

This course does not discuss all fields within Company Configuration, but if you are interested in learning moreabout these fields, refer to the Application Help. This course covers only fields specific to the general ledgerprocess.

Modules > All Modules > General Sheet

Account Specifications

COA Master - In this field, select the default chart of accounts (COA) for the current company after one or morecharts of accounts are created in Chart of Account Structure Maintenance

Costing Method

Cost Method - Select the default method to calculate the cost of parts issued or shipped within the company.The costing method that populates this field determines which calculation the Epicor application uses wheneverit retrieves a unit cost (the usage cost of one part) for a part quantity.

The application uses the costing method defined within Company Configuration as a default when new partsare created. If necessary, you can select a new method in Part Maintenance to override the costing method onspecific part records. You can also select a different method on the Part > sites > Detail sheet to override thismethod on a part.

Available costing methods:

• Average Cost - This calculates a weighted average of all receipt costs for this part.

• FIFO - This is an abbreviation for First In First Out. This method assumes the next quantity to be issued orship from stock is the oldest quantity stored within the warehouse. As long as quantity remains from theoriginal received quantity, the application uses this cost value until the entire quantity from the original receiptis consumed.

• Last Cost - This calculates the most recent receipt cost for this part.

• Lot Average Cost - This calculates an average cost of all parts in a lot. This is the total cost, divided by thetotal quantity, for all parts in a lot.

• Lot FIFO - This determines the cost of all parts in a lot and uses the FIFO costing method described above.

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General Ledger CourseApplication Setup



• Standard Cost - This calculates a set cost you establish and enter for this part. You define and update thestandard cost for each part within the Costing Workbench or manually enter the standard cost as a CostAdjustment.

• Use Transaction Date for FIFO - Select this check box if the company uses the FIFO costing method. Thecheck box indicates whether to use the date of the receipt transaction or the system date for FIFO cost queuerecords. When you select this check box, the application places the transaction date from each receipt oneach cost queue record. When this check box is clear, the current system date is used instead.

Modules > Finance > General Ledger Sheet

System Interfaces

Select one or more of the available check boxes to indicate the specified module (Accounts Payable (AP), AccountsReceivable (AR), Inventory Management, or Payroll) is interfaced with the General Ledger (GL) module. Once youestablish an interface, transactions posted in the selected module automatically create GL journal transactions.

Options

Allow Unbalanced Manual General Journal Entries - Users can select this check box when they load beginningbalances. Once the beginning balances are loaded, it is highly recommended that these check boxes are cleared.

Note Never enter an unbalanced journal entry before checking with an Epicor professional.

Use current date when matching GL transactions - Select this check box to use the current system date whenmatching GL transactions in this company using the GL Transaction Matching program. Clear the check box touse the last apply date for the matched transactions.

Balance Options

Batch Balances and Batch Daily Balances

As GL postings occur, period balances and daily balances (if configured for a specific account or account maskin another GL maintenance program) are updated. However, if these options are selected in the CompanyConfiguration, then period balances or daily balances will not update as postings occur to the GL. The VerifyBalance Records process must be run to build the balances. Selecting one or both of these options is only asafeguard in case there are performance problems when maintaining balances real time as postings occur. Bydefault, these options are clear and should remain that way unless there is a known performance problem withmaintaining balances.

Note The Batch Daily Balances option can be selected by itself, but once the Batch Balances option isselected, Batch Daily Balances is automatically selected as well and cannot be cleared. This makes sensebecause batch daily balances are included when tracking batch balances.

Tax Options

Tax Entry Mode in GL Journal - Enables selecting tax entry modes and reporting taxes in GL Journal Entry.Available values are:

• No Taxes - Taxes are not reported in GL journals. If this value is selected, then the Default Tax Type andDefault Tax Liability fields are disabled.

• Taxable Journal Lines - You can specify journal details which affect a tax account. Tax lines must be linkedto another journal line.

• Taxable Journal Lines or Tax Adjustment Journal - Two tax options are possible when you enter a GL journal:

• Taxable Journal Lines (as above). OR

• Tax Adjustment Journal - You can specify journal details which affect a tax account. These tax lines arenot linked to another journal line, therefore the tax amounts must be entered manually.

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Application SetupGeneral Ledger Course



Default Tax Liability - Indicates a default tax liability for tax lines in GL journals. You can select any listed taxliability providing that it is not marked as used in Tax Connect. This field is enabled once the Allow Taxes in GLJournal check box is selected.

Default Tax Type - Indicates a default tax type for the tax line in GL journals. You can enter any tax type, evenone that is not linked to the selected tax liability. This field is enabled once the Allow Taxes in GL Journalcheck box is selected.

Menu Path

Navigate to this program from the Main Menu:

• System Setup > Company/Site Maintenance > Company Configuration

Workshop - Set GL Journal Tax Options in Company Configuration

In this workshop, enable tax lines in GL journals. This will enable you to create a GL journal with tax lines laterin the course.

Navigate to Company Configuration.

Menu Path: System Setup > Company/Site Maintenance > Company Configuration

1. Navigate to the Modules > Finance > General Ledger sheet.

2. In the Tax Entry Mode in GL Journal field, select Taxable Journal Lines or Tax Adjustment Journal.

3. Click Save.

4. Exit Company Configuration.

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Maintenance Programs

This section of the course covers the General Ledger module's maintenance program configurations that arenecessary to complete in order to accurately process financial transactions.

This course does not discuss all of the maintenance programs and fields available in the General Ledger module.To learn more about fields or programs not mentioned in this course, refer to the Application Help for examplesand definitions.

Fiscal Calendar Maintenance

Use Fiscal Calendar Maintenance to set up fiscal calendars.

A fiscal calendar defines a company's calendar in relation to financial reporting. Fiscal Calendar Maintenancesupports multiple calendars with one calendar defined as the company calendar. Only one calendar can beassigned to each book. Calendars can have flexible start dates, number of periods, and lengths.

Example A business wants to have a calendar that represents their fiscal year according to their operations

which run from October 1

st

through September 30

th

, while they must calculate their taxes based on acalendar year.

The fiscal calendar contains a sequence of fiscal years. Fiscal years in one fiscal calendar cannot overlap and therecannot be gaps between years. Once you create a fiscal year, use the Generate Periods command to generateits fiscal periods.

You can perform the following procedures that relate to fiscal calendars:

• Assign a fiscal calendar as the default company calendar.

• Assign a fiscal calendar to the Asset Management module.

• Assign a fiscal calendar to a book.

Tip Do not confuse fiscal calendars with production calendars. A Production Calendar defines theday-to-day schedule needed to produce and deliver products through manufacturing centers. A FiscalCalendar defines years and fiscal periods required to report on financial activity.

Menu Path


• Financial Management > Accounts Payable > Setup > Fiscal Calendar

• Financial Management > Accounts Receivable > Setup > Fiscal Calendar

• Financial Management > Asset Management > Setup > Fiscal Calendar

• Financial Management > Deferred Revenue Accounting > Setup > Fiscal Calendar

•Financial Management > General Ledger > Setup > Fiscal Calendar

• Financial Management > Payroll > Setup > Fiscal Calendar

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Closing Periods

In addition to ordinary periods (which represent physical date ranges), a fiscal year can include one or severalClosing Periods.

Closing periods do not relate to date ranges but represent accumulators for special transaction sequences createdat year-end adjustment. Separate closing periods can be defined for each particular adjustment phase to finalize

the annual balance and make other restatements.

Define the number of closing periods for each fiscal year in Fiscal Calendar Maintenance. In most cases, thenumber of closing periods for a fiscal year is zero or one (meaning closing periods are not used, or only one isused), but more than one closing period can be defined.

Example A company defines more than one closing period to separate the company's normal year-endadjustments from adjustments auditors require.

Note The term Adjustment Period is used interchangeably with Closing Period. The closing of a periodis procedure-specific for each book and must be done per book, not per fiscal calendar. The apply datefor transactions in closing periods is the fiscal year end date.

Workshop - Create a Fiscal Calendar

In this workshop, create a secondary fiscal calendar for your company. After creating this calendar, add a fiscalyear and generate periods for that year. The calendar that you create may or may not follow a calendar yearstructure.

Define a Fiscal Calendar

Navigate to Fiscal Calendar Maintenance.

Menu Path: Financial Management > General Ledger > Setup > Fiscal Calendar

1. From the New menu, select New Fiscal Calendar.

2. In the first Calendar field, enter XXXCAL (where XXX are your initials).

3. In the second Calendar field, enter XXX's Fiscal Calendar (where XXX are your initials).

4. Click Save.

Add a Fiscal Year

1. From the New menu, select New Fiscal Year.

2.Enter the following information:

DataField

Use the current calendar yearFiscal Year

Use the first day of the current month

(Example: May 1, 2012)

Start Date

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DataField

Use the last day of the month that is eleven months from thecurrent month

(Example: April 30, 2013)

End Date

12Number of Periods

1Number of Closing Periods

3. Click Save.

Generate Periods for a Fiscal Year

1. From the Actions menu, select Generate Periods.

2. In the Start Date and End Date fields, verify the correct dates display.

If incorrect dates display, click the Cancel button and check the information on the Fiscal Year > Detail

sheet. Correct any errors.

3. Verify the Period Duration fields display 1 and Month(s).

4. Click Generate.

A message displays that advises how many fiscal periods were created based on the information entered inthe Generate Periods program.

5. To the message, click OK.

6. Click Save.

7. On the Fiscal Year > Fiscal Period > List sheet, review the periods generated.

8. Exit Fiscal Calendar Maintenance.

Earliest Apply Date Entry

Use Earliest Apply Date Entry to prevent business transaction types from posting in open fiscal periods. Youcan define a date to resume posting transactions on a module by module basis or companywide.

The Earliest Apply Date set on the Detail sheet is the first date on which you can apply any financial transactionin a company. When you first set up a new company, ensure the Earliest Apply Date value is on a date or in aperiod prior to the date you will load financial data into the Epicor application. This prevents errors from displaying

when you enter or import financial data into your new company.

When you define an Earliest Apply Date for a specific module, this date applies to all transaction types for thatmodule. Set up specific earliest apply dates for any of the following modules:

• Cash Management

• Accounts Receivable

• Accounts Payable

• Inventory and Production

• Asset Management

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• Payroll

If at any time you need to prevent posting to an open period for a specific module, enter a new earliest applydate type and define the date or period to resume posting.

Example Your company does not typically close periods on the actual closing date because extra time isoften needed to account for adjustments. However, to accurately track Accounts Payable transactions, youneed to be able to prevent posting to a period after the ending date passes (for example, Period 5 - May31). In this example, add a New Type to Earliest Apply Date Maintenance for the Accounts Payablemodule, and define June 1 of the current year as its Earliest Apply Date. This prevents any Accounts PayableGL transactions from posting prior to the actual/current period.

Tip Use Earliest Apply Date Entry separately or in conjunction with the Close Period Entry process. TheClose Period Entry process closes periods specific to a book.

Detail

After you set up a default company fiscal calendar in Company Configuration, use the Earliest Apply Date'sDetail sheet to set up a date or fiscal period to resume posting all transactions after a period is closed.

Chart of Account Structure Maintenance

Chart of Account Structure Maintenance defines the segment structure and characteristics for each Chart ofAccounts (COA) you use within the current company. The application uses one or multiple charts of accounts tocontrol account entry.

Each company book must have a COA. In a multi-company environment, you typically need two or more chartsof accounts in each company, a master COA and a consolidation COA. Books can be assigned different COAsor several books can share the same COA. When a book links with a COA, you can use the COA to post journals.Use GL Control Maintenance to specify the journals and accounts used to post transactions within the COA.Indicate which COA is the Master; a master COA contains the primary list of accounts.

Example Government regulations require reports to use an account structure different from the one you

use for corporate reporting. In this situation, define two books. One book uses a COA for governmentreporting; the other uses a COA for corporate reporting. In another scenario, the COAs which the company'ssubsidiaries use can supply values to a management COA that contains a limited number of accounts.

In Chart of Accounts Maintenance, you must indicate which COA is the Master; a master COA contains theprimary list of accounts. Your master COA is typically assigned to your company's Main Book.

When you implement financials in the Epicor application, carefully consider the role each COA and book youcreate will play in your company's financial management. You can create as complex an account structure asyou need for each COA. Each GL account can have up to 20 definable account segments. Each segment can beup to 50 characters in length, and you can define a number of values, such as Effective Date and Normal Balance,for each segment. The maximum length for an account is 200 characters, including delimiters.

COA Segments can be natural, controlled, dynamic, or optional for data entry. They can display in any order and

that order can be changed at any time (Run the Rebuild Display GL Account process to update the displaythroughout the application).

A natural account segment defines the chart segment used with the account. The first segment you save on aCOA automatically saves as its natural account. When a segment is defined as a natural account, the applicationzeros balances in income statement accounts and maintains balances for balance sheet accounts. If a segmentis a natural account, the Natural Account indicator is active on the Detail sheet. While you indicate where thenatural account segment is located in the account structure in this program, use Account Segment ValuesMaintenance to define other natural account options.

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Controlled segments record the primary financial history of the company while dynamic segments record temporary,unique business activity. Link, or reference, dynamic segments to a business entity, which is a table that recordsdata placed against customer, supplier, project, part, and other entities.

Once you start to use a COA, you can no longer add a controlled segment to it but you can always add dynamicsegments to a COA in use.

Tip Use Chart of Accounts Structure Maintenance to design the primary account structure for each COA.To define the specific values each segment uses - such as category, normal balance, and natural accountoptions - use Account Segment Values Maintenance. To indicate a segment is self-balancing, useSelf-Balancing Segment Maintenance. Generate specific account combinations within General LedgerAccount Maintenance.

Menu Path


• Financial Management > Accounts Payable > Setup > Chart of Accounts

• Financial Management > Accounts Receivable > Setup > Chart of Accounts

• Financial Management > General Ledger > Setup > Chart of Accounts

•

Financial Management > Multi-Site > Setup > Chart of Accounts• Financial Management > Payroll > Setup > Chart of Accounts

• Sales Management > Order Management > Setup > Chart of Accounts

For CRM users, the Main Menu appears as:

• Customer Relationship Management > Order Management > Setup > Chart of Accounts

Default COA Categories

You can create default COA categories for each COA you create in Chart of Account Structure Maintenance.

Select the Create Default Categories check box on a chart of accounts record to automatically create a standard

set of COA categories for the selected record. Review the default categories created in COA CategoryMaintenance.

For more information on COA categories, refer to the Application Help.

Dynamic Account Segments

Dynamic account segments are used to record temporary, unique business activity. Link, or reference, dynamicsegments to a business entity, which is a table that records data placed against customer, supplier, part, andother entities.

Dynamic segments set segment values based on values from posted transactions or user input. If your chart ofaccounts (COA) uses dynamic segments, you can directly assign dynamic segments to GL controls or modify

specific posting rules to post to the dynamic segments.Once you use a COA you can no longer add controlled segments to it, but you can always add dynamic segments.

Dynamic segments often reference customer, supplier, part, or other business entities. The reference creates thesegment value based on the entity ID. If you select the Use Business Entity check box in Chart of AccountStructure Maintenance, you can associate the entity with a segment. The dynamic segment values are setbased on the selected business entity.

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Account Segment Entry Control

The value selected in each account segment's Entry Control field determines whether the segment must appearin general ledger (GL) account codes.

• Selection of Mandatory requires the segment's inclusion in GL accounts.

•

Selection ofBy Natural Account

allows the designation of the segment as optional or mandatory for eachnatural account value. This designation occurs in Account Segment Values.

• Selection of Optional allows GL accounts to post to the chart of accounts (COA) without this segment. Whenaccounts generate, an optional segment displays as blank if no value was selected.

• Selection of Reference Account Mask allows the designation of the segment as optional or mandatory foran account mask defined in GL COA Reference Type. This selection applies only to reference-type segments.

Balance Settings

Settings in the Balance Options area of Chart of Account Structure Maintenance affect balance processingfor the selected segment.

In the area, you designate segments that:• Store balances for segments for use in reports and trackers. The natural account segment always maintains

balances, but the application can store balances for other segments. Use the Include in Detail Balances andInclude in Summary Balances check boxes to determine how the application maintains segment balancesfor use on reports and trackers. In addition, consolidation processes create journals for source COA segmentsthat maintain balances.

• Carry balances forward for revenue and expense accounts. By default, the application zeros balances intemporary accounts at year end. Selection of Opening Balance on P/L allows the maintenance of incomestatement balances independent of the fiscal year.

For example, you apply the option to a segment used to post project revenue. As a result, the applicationmaintains period-to-date revenue data by project for use in multi-year analysis and reporting.

Workshop - Create a Chart of Accounts

In this workshop, create a secondary COA for your company and define its segments.

Create a Chart of Account Structure

Navigate to Chart of Account Structure Maintenance.

Menu Path: Financial Management > General Ledger > Setup > Chart of Accounts

1. From the New menu, select New COA.

2. Enter the following information:

DataField

XXX-COA (where XXX are your initials)Chart of Account

XXX's COA (where XXX are your initials)Description

- (hyphen)Separator Character

3. Click Save.

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Define a Chart of Account's Controlled Segments

1. From the New menu, select New COA Segment.


DataFieldNatural AccountName

Nat AcctAbbreviation

6Maximum Length

6Minimum Length

3. Click Save.

4. Use steps 1-3 above and the data below to create three more COA segments.

Note There is more data to enter for the next three COA segments. This is because the first segmentyou enter is always the true Natural Account by default. Other segments offer additional optionsthat are auto selected or disabled when creating the natural account segment.

DataField

LocationName

LocAbbreviation

4Maximum Length

4Minimum Length

By Natural AccountEntry Control

DataField

Product GroupName

ProdAbbreviation

3Maximum Length

3Minimum Length

MandatoryEntry Control

DataField

Cost CenterName

CCAbbreviation

2Maximum Length

2Minimum Length

OptionalEntry Control

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5. Click Save.

Add a Dynamic Segment

Add a dynamic segment to your COA. Link the dynamic segment to the GL Reference Type business entity.

1. From the New menu, select New COA Segment.


DataField

ReferenceName

RefAbbreviation

10Maximum Length

1Minimum Length

Select this check box.Dynamic

Select this check box.Use Business EntityGL Reference TypeBusiness Entity

Response to Message: YesMessage: Do you want the segment values created whenthis dynamic segment is saved?

RefTypeSegment Value Field

RefTypeDescDescription Field Name

3. Click Save.

4. Exit Chart of Account Structure Maintenance.

Trial Balance Report

Use the Trial Balance Report to print balances from your trial balance account, as defined by your setup inChart of Account Structure Maintenance.

You can specify which book and segments and which balance level (Detail or Summary) to include in your reportfrom the Selection and Filter sheets. You can also print period or daily balances.

The following type of information is available from the report, depending upon your selections:

• Year opening balance

•

Period opening balance• Period movement debit amount

• Period movement credit amount

• Period closing balance

• Average daily balance (for daily balance report)

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Menu Path


• Financial Management > General Ledger > Reports > Trial Balance

Chart of Account Listing Report

Use this program to produce a master Chart of Accounts Listing report of your chart of accounts file for theactive company.

Select the chart of accounts from which to create the report. Charts of accounts are defined in the Chart ofAccount Maintenance program.

Select the Account option to generate a report for the entire chart of accounts. Select the Individual Segmentoption to generate a report for one segment of an account only. In this case, then select the accounting segmentin the Segment field you want for your report.

Menu Path


• Financial Management > General Ledger > Reports > Chart of Accounts Listing• Financial Management > Multi-Site > Reports > Chart of Accounts Listing

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Balance Controls

Transactional data flows from the modules that make up the application into the general ledger (GL) via thePosting Engine.

The posting engine transforms transactions based on a set of posting rules and records the results in the transactiontables of the GL module. In addition to recording the transformation results, balance records are created andstored in the balance tables.

As shown above, the posting engine uses balance controls to create entries in the balance tables during thecreation of a GL transaction. In this case, the balance controls operate on the output from the Post Processingportion of the posting engine.

The posting process output is a basic accounting transaction with all account codes resolved, validations complete,and self-balancing accounting segments resolved. From that point, the balance set up can be applied to theaccounting transaction to create balance entries.

In Chart of Account Structure Maintenance, the application can be set up to keep balances for all 20 segmentsthat make up your accounts. If you set up daily balances (Daily Balances Setup), the balances are based on aset of account masks that filter the accounts that require these balances. For more information on daily balances,refer to the Daily Balances Setup topic.

Balance Storage in Account Segments

There are three levels in which to store balances:

• Period Balances

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• Daily Balances

• Opening Balances on P/L

Period Balances

• Period balances are stored for all periods defined by the financial calendar attached to the book. This appliesto both account balances and standard trial balances.

• You can specify which segments to include in the balance.

Daily Balances

• Daily balances can be stored in addition to the period balances for a specific set of accounts.

• You can specify which accounts should have balances maintained on a daily basis.

Opening Balances

Balance sheet accounts always carry their balance into the next fiscal year as an opening balance. Income Statementaccounts never have an opening balance because their account balances zero out at the end of the fiscal year.Whether an account is a Balance Sheet account or an Income Statement account is defined by the accountcategory attached to the natural account.

Currency Balances

If an account is specified as a currency account, currency balances are kept as reporting and transactionalcurrencies. Currency balances are used when a natural account is revalued in the GL; you can view these balancesin the Chart Tracker and in various GL reports.

Currency Balance Example

The Receivables account below is set up as a currency account and the reporting currency is USD. The accounthas no other segments.

The first transaction is an AR invoice in Euro (EUR), year 2011, period 8:

Reporting Currency Amount (USD)Transaction Amount (EUR)Account

696.00500.001010 (Receivables)

-696.00-500.004010 (Sales)

The second transaction is an AR invoice in Pesos (MXN), year 2011, period 8:

Reporting Currency Amount (USD)Transaction Amount (MXN)Account

96.001200.001010 (Receivables)

-96.00-1200.004010 (Sales)

Example Account Balances after the two transactions:

Credit Movement (USD)Debit Movement (USD)PeriodYearAccount

0.00792.00820111010

792.000.00820114010

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CreditMovementUSD

DebitMovementUSD

CreditMovementTrans. Curr.

DebitMovementTrans. Curr.

TransactionCurrency

PeriodYearAccount

0.00696.000.00500.00EUR820111010

0.0096.000.001200.00MXN820111010

Note Account 4010 has not been set up as a currency account so there are no currency balances for thisaccount.

Batch Balance Options

In Company Configuration on the Modules > Finance > General Ledger sheet, there are two balance options:Batch Balances and Batch Daily Balances.

As GL postings occur, period balances and daily balances update (if configured for a specific account or accountmask in another GL maintenance program). If you select one or both of these options in Company Configuration,then period balances or daily balances do not update as postings occur to the GL. You must run the VerifyBalance Records process to build the balances.

Important Selecting one or both of these options is a safeguard in case there are performance issues withmaintaining balances in real time as postings occur. By default, these options are not selected and shouldremain that way unless there is a known performance problem with maintaining balances.

Batch Daily Balances can be selected individually, but once you select Batch Balances, the Batch DailyBalances option automatically selects as well and you cannot clear that check box. This is because batchdaily balances are included when you track batch balances anyway.

Verify Balances

Menu Path: Financial Management > General Ledger > General Operations > Verify Balances

Use Verify Balance Records to rebuild balance records if they become inaccurate or if the balance setup changes.

When you select the Update Balances check box in Verify Balance Records, an Update Required messagedisplays. In addition, a Rebuild Balances Required message displays in Chart of Accounts StructureMaintenance, notifying users to run the verify balance records process. The Update Required check box isautomatically selected in Verify Balance Records anytime a segment with any Balance Control type selected onit is added, deleted, or updated in Chart of Accounts Structure Maintenance.

Daily Balances Setup

Daily Balances Setup enables the maintenance of daily balances for tracking and reports. Account masks specifythe COA segment or segments that supply the balances. You apply masks to books associated with a COA.

COA Maintenance allows continuous balance maintenance for any segment other than the natural account.(The natural account always stores balances.) Performance issues can result when too many segments store

balances. To avoid this issue, you can use this program to maintain segment balances for a limited number ofaccounts.

This program enables creation of reports used in the hospitality industry. Daily balances allow the use of financialdata in the ongoing monitoring of occupancy, average rates, number of covers, and other statistics.

Menu Path


• Financial Management > General Ledger > Setup > Daily Balances Setup

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COA Category Maintenance

COA Category Maintenance defines chart of accounts (COA) categories associated with natural accounts inAccount Segment Values. This association determines how the Epicor application maintains account balancesand the accounts that supply financial statement values.

Use COA Category Maintenance to:

• Determine how to maintain balances for associated accounts. The Epicor application zeros balances in incomestatement accounts and maintains balances for balance sheet accounts.

• Define the structure and formatting of financial statements. The GL Report Wizard uses entries in this programto automatically create the company's balance sheet and income statement. Entries in this program definedescriptions that display in the reports and whether an entry displays as a debit or credit. You can definefinancial statements without the use of categories or the wizard.

• Designate the balance sheet category used to report net income from the income statement. Corporatebalance sheets typically use Retained Earnings to describe this category. Select the Net Income check box fora category to designate it as the retained earnings entry on reports.

Example Use COA Category Maintenance and the GL Report Wizard to create a corporate balance sheet.First, define Assets, Liabilities, and Equity categories. The Assets category has a normal debit balance, whilethe Liabilities and Equity categories have credit balances. These settings ensure the correct placement ofthe categories on the report. These categories have no parent. On the balance sheet, these categoriesgroup other categories and display a total of their sub-accounts.

Define the Accounts Payable category, select Liabilities as its parent, and set it as the first entry in theLiabilities category. As a result, the balance of the account associated with the Accounts Payable categoryis used to calculate the total for the Liabilities category.

Lastly, define sub-categories for Accounts Payable.

The Epicor application places no restrictions on the number of sub-category levels allowed.

Use the Copy COA Categories option from the Actions menu to copy a set of categories from one COA toother charts of accounts. Use a set of categories as a template to save work. You can modify the categories

copied from the template to create a set of categories appropriate for the COA.

Note If you change the account category on a natural segment from Balance Sheet to Income Statement,this may affect reported profits.

Menu Path


• Financial Management > General Ledger > Setup > COA Category

Workshop - Create COA Categories

In this workshop, create four new COA categories. In an upcoming workshop, you will select the categories youcreate on existing inventory accounts. As a result, all of the separate inventory accounts should roll up directlyto the Current Assets category.

Important Due to necessary database setup and specific data, this workshop can only be performed byone person on a shared database.

Navigate to COA Category Maintenance.

Menu Path: Financial Management > General Ledger > Setup > COA Category

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1. In the Chart of Account field, verify Master Chart of Accounts displays.

2. Click New.


DataField

INVCategory ID

InventoryDescription

Do not select this check box.Net Income

Select this check box.Enable Transaction Matching

Balance SheetType

DebitNormal Balance

CURRENT ASSETSParent Category

10Sequence

4. Click Save.

5. Click New.


DataField

RAWCategory ID

Raw MaterialsDescription



Balance SheetType

DebitNormal Balance

InventoryParent Category

10Sequence

7. Click Save.

8. Click New.


DataField

WIPCategory ID

Work in ProcessDescription



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DataField

Balance SheetType

DebitNormal Balance


20Sequence

10. Click Save.

11. Click New.


DataField

FGCategory ID

Finished GoodsDescription



Balance SheetType

DebitNormal Balance


30Sequence

13. Click Save.

14. Click the Clear icon to prepare for the following workshop.

15. Remain in COA Category Maintenance.

Workshop - Copy COA Categories

A new COA is required for your company. To save time, you would like to use the existing COA as a template.In this workshop, copy an existing list of COA categories to a new COA.


2. From the Actions menu, select Copy COA Categories.

The Copy COA Categories window displays.

3. In the From COA Code field, verify Master Chart of Accounts displays.

4. In the To COA Code field, select XXX's COA (where XXX are your initials).

5. Click OK.The tree view displays the new copied list of categories.

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6. Click Save.

7. Exit COA Category Maintenance.

Account Segment Values

Use Account Segment Values to define natural, dynamic, and controlled account segment values.Use this program to define the following:

• Natural Account Values - Natural account values typically reflect the structure of the financial statementsfor the company. You can assign many values to natural account segments, including category, normalbalance, manual entry restrictions, and so on. For example, you can use natural account values to definecurrency accounts; use these accounts when you need to revalue transactional currency amounts into othercurrency amounts.

• Controlled Segment Values - Controlled segments record the primary financial history of the company. Forexample, define a controlled segment in COA Structure Maintenance to track a company division; use AccountSegment Values to define the NORTH, SOUTH, EAST, and WEST values for the segment. Controlled segmentvalues defined in this program are available to you when you enter accounts in programs such as AP Adjustmentand Cash Receipts.

• Dynamic Segments (Reference Types) Values - When you associate a reference type with a chart ofaccounts (COA) segment, you can select a segment value for a posted transaction.

• Dynamic Segments (Business Entities) - Posting rules set a segment value based on the business entityindicated in a posted transaction. You cannot define values for dynamic segments that reference the installedbusiness entities; dynamic segments use the business entity functionality to set segment values.

• Effective Dates - Use active (effective) dates so the COA can reflect company structure or business changes.For example, you can set a segment for a product line to expire when the product line is discontinued.

Tip Chart of Accounts Structure Maintenance creates the segments that display in this program. UseGeneral Ledger Account Maintenance to generate the general ledger accounts for COAs.

Menu Path


• Financial Management > General Ledger > Setup > Account Segment Values

Natural Account Options

The Natural Account Options > Detail sheet in Account Segment Values is where you associate COA categorieswith natural accounts.

This association determines how the application maintains account balances. The application zeroes balances inincome statement accounts and maintains balances for balance sheet accounts. In addition, the GL Report

Wizard can use the balances of the associated account to automatically create financial statements.Also on this sheet, determine whether journals should be summarized by account. Posted detail summarizationreduces the number of records stored in the database. Note that a posting rule will override any summarizationsetting made on this sheet if it differs.

Workshop - Create Account Segment Values

In this workshop, define values for the controlled segments created in a prior workshop.

Navigate to Account Segment Values.

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Menu Path: Financial Management > General Ledger > Setup > Account Segment Values

1. In the Chart of Account field, select XXX's COA (where XXX are your initials).

2. In the Segment field, verify Natural Account displays.

3. From the New menu, select New Value.


DataField

300000Segment Values

Retained EarningsName

REAbbreviation

EQUITY (Note: All natural account segment values must have acategory assigned.)

Category

Verify this check box is selected.Active

5. Click Save.

6. Navigate to Natural Account Options > Detail.

7. Click the Enable Transaction Matching check box.

Selecting this option allows a GL transaction that contains this natural account to be matched in GLTransaction Matching.

8. Navigate to the Natural Account Options > Segment Options sheet.

9. From the New menu, select New Segment Option.

10. In the Segment field, select Location.

11. In the Entry Control field, select Mandatory.

12. Click Save.

13. Use steps 2-5 to add a value to each controlled segment in the current COA. Click Save after adding eachvalue.

Remember: Each time you add a new value, select the segment to add that value to in the Segment fieldat the top of the window before you access the New menu.

Use the following tables as data entry guides:

DataField

LocationSegment

MINNSegment Values

MinneapolisName

MinnAbbreviation


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DataField

Product GroupSegment

100Segment Values

RetailName

RetAbbreviation


DataField

Cost CenterSegment

00Segment Values

Corporate G/AName

CorpAbbreviation


14. Click Save.

Workshop - Change a Segment Value's COA Category

In this workshop, change COA categories of existing segment values.

Important Due to necessary database setup and specific data used, this workshop can only be performedby one person on a shared database.

1. In the Chart of Account field, select Master Chart of Accounts.

2. In the Segment field, verify Chart displays.

3. In the Segment Values field, enter 1200, and press Tab.

4. In the Category field, select RAW - Raw Materials.

5. Navigate to Natural Account Options > Detail.

6. Select the Enable Transaction Matching check box.

Selecting this option allows a GL transaction that contains this account segment to be matched in GLTransaction Matching.

7. Click Save.

8. Click the Clear icon and repeat steps 3 through 7 to change the categories on two other segment values.

Enter the following information for steps 3 and 4 for the two other segment values:

DataField

1220Segment Values

WIP - Work In ProcessCategory

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DataField

1290Segment Values

FG - Finished GoodsCategory

9. Remain in Account Segment Values for the next workshop

Workshop - Add a Department Value

A growing portion of your business is engineer-to-order and the controller wants to establish an additionaldepartment to monitor the company's expenses and possibly develop additional overhead rates. In this workshop,add a department value to the Master COA to fulfill the controller's request.

Important Due to necessary database setup and specific data used, this workshop can only be performedby one person on a shared database.


2. In the Segment field, select Department.



DataField

90Segment Values

EngineeringName

EngAbbreviation


5. Click Save.

6. Exit Account Segment Values.

Restricted Function Maintenance

Use Restricted Function Maintenance to designate functions used to restrict manual journal entry. Use thefunctions to restrict entries against specific natural accounts defined in Account Segment Values.

Example The application designates Purchase Order Entry (Erp.UI.POEntry.dll) as a restricted function.Define a natural account for Payroll Entry in Account Segment Values and exclude the account's usewith the Purchase Order Entry function. As a result, you cannot use the payroll account when you enterpurchase orders.

You can add application .dll files to the restricted functions list. For example, you can add Erp.UI.BankAdjEntry.dllto limit the use of natural accounts available when you adjust bank account entries. You cannot select .dll filesfrom other applications or files that are not connected with programs used to post journals.

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Menu Path


• Financial Management > General Ledger > Setup > Account Entry Restricted Functions

General Ledger Account Maintenance

General Ledger Account Maintenance defines valid general ledger (GL) accounts for a chart of accounts (COA).

General ledger accounts contain the natural account segment and other controlled segments. You cannot includedynamic segments in GL accounts. Posting rules set the value of most dynamic segments.

This program determines:

• Valid entries for the selected COA - The Epicor application validates GL transactions that post to the COAagainst the accounts defined in this program.

• The available values in fields used for GL account entry - For example, the Epicor application limits entries inthe GL Account field to Master COA accounts in AP Adjustment Entry. As a result, the Master COA mustdefine all accounts needed to post from these fields.

• The effective dates for accounts - Effective dates allow the COA to reflect changes in the company's structure

or business. For example, an account designates a product line discontinued at the end of the year. Set theTo Date field to the year's end when you define the account. As a result, an error occurs if a journal that usesthe account posts to the COA after the end of the year.

• Whether to preserve the account's description and active status during automatic account updates.

• Whether to use the account for inter-company processing. Inter-company processing updates multi-companyaccounts defined in the COAs of a parent company and its subsidiaries.

Tip Chart of Accounts Structure Maintenance designates a segment as dynamic or controlled. AccountSegment Values defines values used to generate accounts through GL Account Maintenance.

Definition of a single GL account constitutes use of the COA. Use of a COA blocks the addition of controlledsegments. Use of a segment value blocks changes to the value in Account Segment Values.

Example The following example (based on the Master COA) illustrates how segment properties affect GLaccount codes. Define the segments and enter the settings that display in the following table.

Valid ValuesCOA SettingsSegment

1000, 2000, 3000 (Segment values defined inAccount Segment Values)

Segment type: Controlled

Entry control: Natural Account

1

10, 20 (Segment values defined in AccountSegment Values for these Departments)

Segment type: Controlled

Entry control: Optional

2

Dalton, Addison (Segment values created forthese Customer IDs)

Segment type: Dynamic

Entry control: Optional

3

Designate 1000-10 and 2000-20 as valid GL accounts in General Ledger Account Maintenance. Thefollowing table shows how the Epicor application validates journal account codes when they post to theGL.

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Valid or invalid?Account Code

Valid combination of defined segment values1000-10 and 2000-20

Invalid combination of defined segment values1000-20 and 2000-10

Valid combination of defined segment values and customer ID1000-10-Dalton

Invalid combination of defined segment values and customer ID2000-10-Dalton

Valid combination of a defined segment value and customer IDas the second segment is optional

1000-__-Dalton

Menu Path


•Financial Management > General Ledger > Setup > General Ledger Account

Workshop - Add General Ledger Accounts

In this workshop, add a Retained Earnings account to the chart of accounts created in a prior workshop and aUtilities account to the Master Chart of Accounts for the Engineering department.

Important Due to necessary database setup and specific data used, steps 7-10 in this workshop can onlybe performed by one person on a shared database. If this is the case, complete steps 1-6.

If you cannot complete this workshop in its entirety, you will not be able to complete the Workshop -Generate and Review GL Accounts.

Navigate to General Ledger Account Maintenance.Menu Path: Financial Management > General Ledger > Setup > General Ledger Account

1. In the Chart of Accounts field, select XXX's COA (where XXX are your initials).

2. Click New.

3. Click the arrow next to the GL Account field to display the segment search buttons available for use.


DataField

300000Natural Account

MINNLocation

100Product Group

Leave this field blank. A value is unnecessary because thissegment is optional.

Cost Center

5. Click in the Description field.

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The field populates with a description made up of the 3 segments' abbreviations.

6. Click Save.

7. Use steps 1-4 and the data below to create a Utilities account in the Master Chart of Accounts for theEngineering department.

Note Remember to select Master Chart of Accounts from the Chart of Accounts field.

DataField

Master Chart of AccountsChart of Accounts

8800Chart

00Division

90Department

8. Click in the Description field.

The field populates with a description made up of the 3 segments' abbreviations.

9. Update the Description field to read Engineering Utilities.

10. Click Save.

11. Click the Clear icon and remain in General Ledger Account Maintenance for the next workshop.

Generate Accounts

The Generate command uses a COA's controlled segments and the segments' values to create general ledger

accounts. To save time, you can use this command rather than creating accounts manually.Settings in the Generate Accounts program control:

• Segment values included in the generated accounts. You can generate accounts based on defined values orcopy combinations of account values. Generated accounts must include valid values for all mandatory accountsegments.

• The effect of the generation on existing accounts. You can block account overrides, allow account overrides,or preserve protected settings for accounts.

The modality of the generation determines how values are generated.

• In a simple account generation, you generate accounts based on defined segment values. You can selectspecific segment values or value ranges for use in the generation.

• In a generation with copying, you copy specific combinations of segment values. For example, the COA hascontrolled segments for division and department. You want to copy the natural account segment 1000, thedivision segment 05, and all department segment values. Generation with copy creates accounts forcombinations of 1000-05 and the values defined for the department segment.

The generation uses segments defined in Chart of Accounts Maintenance and the controlled segment valuesdefined in Account Segment Values. You can modify generated accounts in General Ledger AccountMaintenance.

Definition of a single GL account constitutes use of the COA. Use of a COA blocks the addition of controlledsegments. Use of a segment value blocks changes to the value in Account Segment Values.

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Workshop - Generate and Review GL Accounts

In this workshop, use the Generate command from the Actions menu to quickly create GL accounts for the newEngineering department. After the accounts have been generated, review them in General Ledger AccountMaintenance.

Important If you were unable to complete Workshop - Add General Ledger Accounts, you will not

be able to complete this workshop or Workshop - Modify and Account Allocation.

Generate GL Accounts

1. In the Chart of Accounts field, verify Master Chart of Accounts displays.

2. From the Actions menu, select Generate.

3. In the Generate Accounts window, select the Create New Accounts Only option.

4. Next to the Department segment value, select the Manual Selection check box.

Use the Manual Selection check box when specific segment values should be used for an account generation.Note: The Account Segment Values Search window displays as soon as you select the Manual Selectioncheck box.

5. Click Search, select the Engineering department, and click OK.

6. Repeat the last two steps to select another specific segment value for this account generation.

a. Select the Manual Selection check box next to the Division segment value.

b. Search for and select the Main division.

7. Click the Generate button.The Generate GL Accounts Process window displays.

8. Select File > Submit.

9. Close the Generate GL Accounts Process window.

Review Generated Accounts

1. In the Chart of Accounts field, verify Master Chart of Accounts displays.

2. Click the GL Account button.

3. Click Search.

4. Click Select 1-100, and click OK.

5. Use the tree view to review, scroll through, and select any available account.

Look for the new accounts connected to the Engineering department (90).

6. When your review is complete, exit General Ledger Account Maintenance.

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General Ledger Report

The General Ledger Report lists financial information for a range of accounts and/or periods you select. Thereis both a summary and a detail version of this report. You can also select a full account version to include bothsummary and detail information.

Use this program to produce a General Ledger report based on the selections you make on the Selection and

Filter sheets.

Menu Path


• Financial Management > General Ledger > Reports > General Ledger

Book Maintenance

Book Maintenance defines the fiscal books a specific company uses. A book defines the currency, fiscal calendar,chart of accounts, and Retained Earnings account used to generate its financial statements.

A company can use multiple books to display the same financial information in multiple ways. When you implementthe Epicor application, carefully consider the role each book plays in the financial management and reportingwithin a specific company. When a transaction is entered, its amounts can be applied to multiple books, reflectingthe purpose for each book.

Each book can also have its own set of validation rules. These rules define error handling for journals posted toa specific book. By default, books ignore most posting errors. You can change the defaults so the book blocksand logs errors as needed.

Books are useful for recording transactions so they match the financial legal requirements for a specific country.Use Chart of Accounts Structure Maintenance to create a chart of accounts (COA) which matches the structureyour country requires. You can use one book to post transactions in a specific currency for reporting, and thenuse another book for posting the same transactions in the base currency the company uses.

Example Use the Modified Accelerated Cost Recovery System (MACRS) to depreciate a physical assetfor tax reporting. For financial reporting, the same asset is depreciated using straight-line depreciation.Each book displays its own depreciation results.

Example Leverage multiple books so your companies can value items differently in financial and statutoryreports. An insurance company might use Generally Accepted Accounting Principles (GAAP) to valueinvestments and other items for one report and use National Association of Insurance Commissionersguidelines for another book. State or provincial regulations can also impact reporting, so you may need toimplement additional books.

Use Book Maintenance to define the following:

• Book Type - Books can record financial transactions or consolidate to other books. Standard books record

the financial activity of the company. Consolidation books mediate the transfer of consolidation journalsbetween two standard books.

• Chart of Accounts (COA) - Each book can have a different COA, or several books can share the same COA.The COA defines valid general ledger accounts, available dynamic segments, and balance maintenance forsegments other than the natural account. (The natural account maintains continuous balances.) The bookalso determines the retained earnings account.

• Fiscal Calendar - The fiscal calendar determines valid apply dates for each business transaction. The Epicorapplication maintains periodic balances for segments based on the fiscal calendar.

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• Book Currency - The book currency can be used on financial reports and in consolidations. Journal amountspost in the currency defined on the book. Books can store journals in additional transaction currencies, butwill only post in the specified book currency.

• Error Handling for Journals - Use the Validations sheet to ensure the transactions are valid. For example,a validation rule can alert you when the Apply Date for a transaction falls within a closed fiscal period. Whenthe posting process runs, the Epicor application blocks posting of invalid journals and continues to processthe remaining journals in the batch. Error transactions display in the Review Journal.

• Rounding Tolerance Criteria - For each book, you can specify rounding tolerance criteria as well as anaccount to which transactions will post currency differences.

• GL Transaction Mapping - Set up GL transaction mapping from your source (Main) book to a secondarybook. You determine the COA map and transactional currency to use as well as determine which GL transactiontypes are affected by this revision.

You can modify a book's details (description, type, COA, calendar, currency) until a journal posts to its COA.Once a posting process runs through the book, you can only change the book description.

Note You can also update the posting rules each book uses to record general ledger transactions. Updateposting rules for each book within GL Transaction Type Maintenance. For information on how to createand update posting rules, review the Posting Engine Technical Reference Guide in Application Help.

Menu Path


• Financial Management > General Ledger > Setup > Book

• Financial Management > Multi-Site > Setup > Book

Retained EarningsBook Maintenance > Retained Earnings

The Retained Earnings sheet designates the standard account used for retained earnings for the book. Theapplication continually updates the retained earnings account balance with postings to the COA's revenue and

expense accounts. As a result, the balance sheet always reflects the current balance. At year-end closing, run theTransfer Balances process to transfer account balances to the next fiscal year.

Balance sheets always report the balance in the standard retained earnings account. You can further divide thereported retained earnings balance by the substitution of a segment in the retained earnings account for acorresponding segment in the income statement. The substitution allows the splitting of retained earnings bydivision, department, or other mandatory controlled account segment. Account masks designate the relationshipbetween the split segment and the retained earning accounts that displays the balances.

Often, a book that uses segment substitution also uses self-balancing segments. Designation of a self-balancingsegment in Self-Balancing Segment Maintenance enables the automatic posting of balancing journals withina segment. This ensures the book to which the journals post maintains a balanced set of records within thesegment.

For example, a book uses a COA with a mandatory second segment that defines two divisions: LA and MP. Thethird segment is optional and defines cost centers. You use segment substitution to split the balance in thestandard retained earnings account 3070. At year-end close, the following balances exist in COA revenue andexpense accounts.

2404010-MP-100

5004010-MP-200

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1004020-MP-100

3004020-LA-100

-5003010-LA-100

-12003010-MP-100

The application updates the retained earnings account when you transfer opening balances to the new fiscalyear.

7403070-MP4010-MP

1003070-MP4020-MP

-12003070-MP3010-MP

-360Total to 3070-MP

3003070-LA4020-LA

-5003070-LA3010-LA

-200Total to 3070-LA

Workshop - Create a Book

In this workshop, create a book for your company and attach it to the COA and fiscal calendar created in priorworkshops.

Navigate to Book Maintenance.

Menu Path: Financial Management > General Ledger > Setup > Book

1. From the New menu, select New Book.


DataFields

XXX-MM (where XXX are you initials and MM is your birth month)Book (ID)

XXX's Book (where XXX are your initials)Book (Description)

StandardType

XXX's COA (where XXX are your initials)Chart of Account

XXX's Fiscal Calendar (where XXX are you initials)Calendar

United States DollarBook Currency

3. Navigate to the Retained Earnings sheet.

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4. In the Standard Account field, enter 300000-MINN-100.

5. Click Save.

6. Remain in Book Maintenance for the next workshop.

Validation RulesValidation rules are set up at the book level. You can specify different validations for each book. Use validationrules to specify how the application handles specific transactional issues during the posting process. Use BookMaintenance to specify validation rules for the appropriate book.

Menu Path: Financial Management > General Ledger > Setup > Book

Throughout the posting process, various issues can arise. Some issues can be encountered during the intermediatestages of the posting process; others can arise during the final stage of validating the complete accountingtransaction.

Example A transaction enters the posting process, but the Apply Date is earlier than the Earliest ApplyDate specified for that transaction. To catch this type of issue, you can set up a validation rule for theapplication to autocorrect the issue and send a warning message.

Validation rules are based on two types of issues that occur:

• Issues the application always automatically handles

• Issues that can be handled in two or more pre-defined ways

There are different ways to handle issues in each book:

• Warning - The application issues a warning and treats the transaction as correct. The transaction is storedin the general ledger (GL) and a corresponding warning message is logged.

• Ignore - The application ignores the issue and treats the transaction as correct. The transaction is stored inthe GL without any other actions.

• Autocorrect - The application autocorrects the issue and automatically adjusts the data (incoming or outgoing)that caused it. The transaction is then treated as correct and is stored in the GL without any other actions.

• Error - The application treats the issue as an error and the transaction automatically saves in the ReviewJournal. (The Review Journal is discussed in more detail in the Review Journal section of this course).

• Autocorrect with Warning - The autocorrect action is combined with a warning, in which case, the applicationautocorrects the issue after it logs a warning.

Workshop - Review Validation Rules

In this workshop, review your book's default validation rules and action settings.

1. Navigate to your book's Posting > Validations sheet.

2. Review the default validation rules and each rule's Action setting.

Note Not all rules have the same action selections available. Click the arrow next to a rule's defaultaction to review which action settings are available.

3. Exit Book Maintenance.

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Book Listing Report

Use the Book Listing Report to generate a listing of books for the active company.

Important For more information on how to review the status of a report you print, preview, or generate,refer to the System Monitor Overview topic in the Application Help.

Menu Path


• Financial Management > General Ledger > Reports > Book Listing

Chart of Accounts Mapping

Use Chart of Accounts Mapping to define maps used to transfer journals between different charts of accounts.

Mapping transforms a portion of one chart of accounts (COA) to a portion of another and eliminates the needto redefine the posting rules that create journals. You can handle most posting process modifications through

COA mapping. Typically, you create COA maps instead of modifying specific posting rules. COA maps can reflectminor changes you need between different charts of accounts. COA maps are also easier to maintain.

Use COA maps to:

• Create consolidation journals. The consolidation process uses COA maps to link accounts from a source bookto a target book. Consolidation Definition Maintenance specifies the map a consolidation used.

• Automatically transfer posted journals between books. Associate maps with a book and its posting ruleswithin GL Transaction Type Maintenance. Use the posting engine functionality to map a source COA toa target COA. You can set up mapping for entire account codes or for individual segments. When the currenciesof the two books are different, the Epicor application also converts the journal currency.

Tip Modify posting rules within GL Transaction Type Maintenance. If your book requires more complexposting changes, modify the posting rules for each affected GL transaction type. For information on

how to do this, refer to the Posting Engine Technical Reference Guide in the Application Help.

Example The company has a financial and a legal book that use different charts of accounts (COAs). Youwant to post the same accounts payable (AP) journals to both COAs. Create a map with the financial book'sCOA as the source COA. This map links natural account segment values for AP accounts in the two COAs.

Next, access the GL transaction type used to post AP journals. This GL transaction type contains the postingrules which create journals for the financial book. Associate the mapping document with the financialbook. As a result, journals that post to AP accounts in the financial book also post to the COA in the legalbook.

Once you create a COA map between books you need to determine which GL transaction types should post toboth of these books. Once you make that decision, add the secondary book with mapping to each individual GL

transaction type by adding a revision in GL Transaction Type Maintenance. You also have the option in BookMaintenance to link a secondary book to a source book using the COA map you built.

Tip If you plan to update multiple GL transaction types to post to a multiple books, and no rule modificationsare needed, it makes the most sense to link the secondary book to your source (Main) book in BookMaintenance. Once you establish this link, you can enable as many GL transaction types as you want, allat the same time. In GL Transaction Type Maintenance, revisions can only be added one transaction typeat a time.

For more information on Chart of Accounts Mapping, refer to the Posting Engine Technical Reference Guidein the Application Help or the Posting Engine course.

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Menu Path


• Financial Management > General Ledger > Setup > Accounting Segment Mapping

• Financial Management > Multi-Site > Setup > Accounting Segment Mapping

GL COA Reference Type

Use GL COA Reference Type Maintenance to define reference types and reference type masks placed againsta chart of accounts (COA) segment. Reference type values classify campaigns, projects, and other items with afixed life for use in financial reporting.

General ledger (GL) account and chart trackers display the information reference types generate.

When you create a reference-type segment in Chart of Accounts Maintenance, you can then define types andmasks for the segment. You can associate a single reference-type segment with multiple reference types andassociate a single reference type with multiple masks. Account masks determine the GL accounts that includethe reference-type segment and whether including this segment is required or optional.

In some cases, two types can have masks that match the same account. In this case, the Epicor application uses

the type with the mask that most closely matches the account for the transaction. For example, a type thatincludes a mask for account 2300-10-00 takes priority over a type with a mask of 2300-1_-00.

Tip You can define a different set of reference types and masks for each COA, but use of a standard setof types across all charts of accounts permits a broader analysis of company data.

You determine the value of a reference-type segment when a transaction posts. Account Segment Valuesdefine the segment value associated with your selection. You do not need to define values for this segment inthe GL controls or through the use of posting rules.

Because reference-type segments are set manually, leverage them to classify items that cannot be set by valuesin posted journals. For example, define a reference type to classify businesses as corporations or sole proprietorshipsbecause this information is unavailable from customer or supplier records.

Example Create a reference type to classify travel expenses employees incur. In Chart of AccountsMaintenance, define a reference-type segment for the Master COA.

In GL COA Reference Type, select the COA and segment, and create a Travel reference type. Define mask2300-__-__. This mask includes the natural account segment used for employee vouchers with the divisionand department segments masked. Designate the mask status as required.

In Account Segment Values, select the segment mask and define segment values for the options Lodging,Air Fare, and Per Diem. Since the mask is required, you must designate your expenses as Lodging, Air Fare,or Per Diem when you post.

Menu Path


• Financial Management > General Ledger > Setup > GL COA Reference Type

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Workshop - Add a Reference Type and an Account Mask

A quarterly review shows the balances in the office equipment accounts are unusually large. In order to determinethe details of future transactions, create a reference type, an account mask, and reference segment values tohelp analyze which specific item(s) is causing the problem.

Add a Reference Type to a COANavigate to GL COA Reference Type.

Menu Path: Financial Management > General Ledger > Setup > GL COA Reference Type


2. In the Segment field, verify GL Reference Type is selected.

3. From the New menu, select New Reference Type.


DataField

XXX OE (where XXX are your initials)Type

XXX Office Equipment (where XXX are your initials)Description

5. Click Save.

Create an Account Mask

1. From the New menu, select New Account Mask.

2. In the Account Mask field, enter 86__-__-__ where the ‘_’ (underscore) represents the wild card digits.

3. In the Reference Status field, select Require.

4. Click Save and exit GL COA Reference Type.

Define Reference Segment Values

Navigate to Account Segment Values.

Menu Path: Financial Management > General Ledger > Setup > Account Segment Values


2. In the Segment field, select GL Reference Type.



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DataField

XXX-Canon (where XXX are your initials)Segment Values

XXX-Canon Fax-CFX-L-4000 (where XXX are your initials)Name

XXX Office Equipment (where XXX are your initials)Reference Type


5. Click Save.

6. Follow the steps above and add two additional GL Reference Type segment values using the followinginformation:

DataField

XXX-HPP-L5 (where XXX are your initials)Segment Values

XXX-HP Printer-HP Laser Jet 5 (where XXX are your initials)Name



DataField

XXX-MitaKM (where XXX are your initials)Segment Values

XXX-Mita Copier-KM 4030 (where XXX are your initials)Name



7. Click Save and exit Account Segment Values.

Journal Code Maintenance

Journal Code Maintenance defines codes used to group journals associated with posting processes.

System journal codes can apply to journals through association of a posting process with a GL control. You canthen track and report on journals by code. Some posting processes use default codes when a GL control doesnot supply a journal code.

In addition, consolidation definitions apply the codes to journals posted from source books to intermediate andtarget books. The application allows the use of the groups to validate and track consolidation journals.

Example The pre-defined journal code SJ (Sales Journal) is meant to apply to journals used to post AccountsReceivable (AR) invoices. The code SJ is associated with the GL control used to post journals from ARInvoice Entry. The application applies the code to journals posted from the program. This mechanismallows reports and trackers to group sales transactions by the code.

You can create a journal code to group:

• Month-end journals

• Consolidation journals - These codes can group journals used to Consolidate to Parent and ImportConsolidation from Subsidiary.

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• Transactions created by new accounting transaction types (ACT types) defined in GL Transaction TypeMaintenance. Creation of an ACT type is a significant customization of the application.

Your Epicor application includes pre-defined journal codes for posting processes run from application programs.Creation of a company results in generation of a set of pre-defined codes. The application includes the predefined

journal codes in the following table:

ProcessDescriptionCode

Adjustment entry in AP or ARAdjustments JournalAJ

Asset posting process in Asset ManagementAsset Management JournalAMJ

Check entry in APCash Disbursements JournalCD

Cash receipt entry in ARCash Receipts JournalCR

Manual journals entered in Journal EntryGeneral JournalGJ

Capture COS/WIP Activity in Job ManagementInventory JournalIJ

Invoice entry in APPurchase JournalPJ

Payroll check entry in PayrollPayroll JournalPR

Invoice entry in ARSales JournalSJ

Menu Path


• Financial Management > General Ledger > Setup > Journal Code

Business Entity

Business entities define the overall primary items within each company database, such as customer, supplier,part, and project. Your Epicor application installs with primary business entities. Each business entity is essentially

a static table which contains the overall database structure used to record transactions against the specific item.

You link, or reference a business entity for a dynamic segment within Chart of Account Structure Maintenance.This segment type can define subsidiary ledgers for accounts receivable and accounts payable control accounts.You can select a business entity from the Business Entity drop-down list when you select the Use BusinessEntity check box.

When you select a customer, supplier, part, or other business entity in Chart of Accounts Structure Maintenance,you indicate the segment uses the values recorded in the business entity's table and fields to calculate the segmentvalues. The posting rules, which reference the business entity, set the segment values during the posting process.

Business entities are at the top of the hierarchy which generates accounts during the posting process. The itemsdirectly below business entities in the hierarchy are GL control types. Each GL control type is linked to a specificbusiness entity, and so the business entity defines what areas of the database the GL control type updates through

its account and journal contexts. GL control types are templates used by the third and final level of this hierarchy,GL controls. A GL control uses the account contexts specified through the GL control type to defines the specificaccounts which update for each transaction.

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GL Control Type Maintenance

General ledger (GL) control types group together account contexts, journal contexts, and business entities usedto define the accounts generated through GL controls. Use GL Control Type Maintenance to create and editthe GL control types you use with the current company.

GL control types define:

• Account contexts - GL controls linked to the GL control type use its account contexts to specify the booksand accounts to which GL transactions post. The posting rules specified within the GL transaction type usethis account information to define each GL detail. You can view and modify posting rules within GL TransactionType Maintenance.

• Account entry defaults for GL controls - These default values limit how an account maps to a book orrequires you use a specific account with all GL controls linked to the GL control type.

• Journal contexts - The journal contexts associate journal codes with the GL controls linked to the GL controltype. Journal codes group journals created through the posting process which apply to the business transaction.

• Business Entities - The business entities defined on the GL control type indicate against which databasetables the GL control type is used. Business entities define items such as Customer, Supplier, Project, ProductGroup, Part, and so on, and are at the top of the hierarchy which generates accounts during the posting

process. The items directly below business entities in the hierarchy are GL control types. Each GL control typelinks to a specific business entity, and so the business entity defines what areas of the database the GL controltype updates through its account and journal contexts. GL control types are the templates the third and finallevel of this hierarchy (GL controls) use. A GL control uses the account contexts specified through the GLcontrol type to define the specific accounts which update for each transaction.

You can modify GL control types to extend the posting functionality. Ensure the new account and journal contextsare appropriate for the business entities selected on the GL control type.

The Epicor application comes with a set of predefined GL control types. These predefined GL control typescorrespond to the programs that maintain GL controls that apply to posted transactions. You can create a GLcontrol type to support a new accounting process or to integrate the Epicor application with another financialapplication.

Menu Path


• Financial Management > General Ledger > Setup > GL Control Type

GL Control Maintenance

General ledger controls define the accounts and journal codes available during the posting process for a specifictransaction. All posting accounts the Epicor application uses for each business transaction are defined throughGL Control Maintenance.

You can create and modify GL controls to extend the posting functionality. First, link a GL control to a GL controltype; each GL control uses the account and journal contexts from the control type as a template. The GL controlthen uses these templates to determine the specific account string and journal code to use with a businesstransaction.

You can associate one or more GL controls with a record in a maintenance program. Each control associatedwith a record must belong to a different GL control type. The association allows the use of control values whenthe record applies to a posted transaction.

During posting, the posting rules defined in GL Transaction Type Maintenance use GL controls to createtransaction details. The posting rules access account values through the references to the account contexts defined

45Epicor ERP | 10.0.700.2




on the linked GL control types. Often, GL control accounts lack values for one or more segments. The postingrules then use posted transaction data to define these segment values.

Example The AR Account and AP Account control types reference the Company business entity. DefineGL controls based on both types and apply them to Company A in Company Configuration. Post atransaction that belongs to Company A. The posting rules for the GL transaction type use the GL controls'account references to create the accounts for the company journals.

Example Add a Landed Cost account context to the AP Account GL control type. You can now add alanded cost account context to the AP GL control type. Create a GL control and link it to the AP AccountGL control type. Apply this GL control to a company record (Company Configuration). Ensure the newaccount contexts are appropriate for the business entities against which the type applies.

When journal codes are linked with GL controls, applicable transactions the posting process creates are recordedin associated journals. As a result, you can track and report on journals by the generated journal code.

You cannot associate GL controls with programs where you select posting accounts when you enter transactions.Examples of this type of program include AP Adjustment Entry and Cash Receipt Entry. The Master Chart ofAccounts defines the accounts available in these programs.

Important If you modify or delete GL control codes, it can cause invalid journals to generate. Verify theposting processes which use the GL control to create valid accounts after the changes.

Menu Path


• Financial Management > General Ledger > Setup > GL Control Code

Workshop - Add GL Controls to a Business Entity

In this workshop, add GL controls to a supplier record. GL control types and codes are assigned to the supplierbusiness entity instead of assigning specific accounts as in previous versions of the application.

Important Due to necessary database setup and specific data used to add GL controls to a business entity,this workshop can only be performed by one person on a shared database. You have the option to selecta different supplier record to complete this workshop. However, your results may not follow those outlinedin this workshop.

Navigate to Supplier Maintenance.

Menu Path: Material Management > Purchase Management > Setup > Supplier

1. In the Supplier field, enter ETHAN and press Tab.

2. Navigate to the GL Controls > Detail sheet.

3. From the New menu, select New GL Control.

4. In the Type field, search for and select AP Account.

Only GL control types relevant to this specific business entity display in the Type search. The applicationonly displays the GL control types that specify the Supplier business entity on their record. In this case, youcan add one AP Account GL control type and one Supplier GL control type.

5. In the Control field, search for and select APTD.

APTD is the GL control code that holds the accounts selected for the Account Payable Trade AP account.

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6. Click Save.

7. Exit Supplier Maintenance.

GL Account Budget Maintenance

GL Account Budget Maintenance defines budgets for income-statement accounts. You can include budgetaryamounts in cash flow analysis and custom reports.

You can define:

• Expense budgets - Enter positive amounts to track increases in expense accounts or decreases to revenueaccounts. Typically, you use expense budgets for operating expense accounts such as travel and entertainment,professional services, and equipment rental.

• Revenue budgets - Enter negative amounts to track decreases in revenue accounts or increases to expenseaccounts. You can use a revenue budget to determine whether cash from sales of scrap meet sales projections.

Tip Prior to creating a budget, you must define a GL book and fiscal calendar for your budget. You mustalso define a chart of accounts in Chart of Accounts Structure Maintenance, define natural, dynamicand controlled segment values in Account Segment Values Maintenance, and create GL accounts in

General Ledger Account Maintenance.

The book you select in this program provides the context for defining and tracking budgets. The fiscal calendarand chart of accounts associated with the book determines the periods and accounts used in the budget.

Selection of the Cash Flow Analysis check box includes the account's budget in calculation of budgeted expensesthat display in the Cash Flow tracker. The application adds the period budget for this account to the book'sother budgeted accounts. The total becomes the basis for calculation of weekly expenses.

Note Do not use account budgets to include sales in cash flow analysis. The analysis includes sales throughaccounts receivable open order lines.

You can include budget amounts in reports defined in Financial Report Designer. The amounts display inbudget columns.

You can use the Copy Budget command to copy account budgets between fiscal years within a book. Thecopied budgets can use account actuals or budget amounts as their basis. You can adjust copied values.

Example Select a book with a fiscal calendar that contains 12 periods. Enter a budget amount of 12,000.00and a qualifier of Period. As a result, the application creates 12 records, each with a budget amount of12,000.00.

You enter a qualifier of Year with the same budget amount (12,000.00) to create 12 records, each witha budget amount of 1,000.00.

Menu Path


• Financial Management > General Ledger > Setup > Account Budget

Workshop - Create an Account Budget

In this workshop, create an account budget for your Department.

Navigate to GL Account Budget Maintenance.

Menu Path: Financial Management > General Ledger > Setup > Account Budget

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1. In the Book field, verify Main Book displays.

2. In the Fiscal Year field, enter the current calendar year.

3. Click New.


DataField

6300-00-30GL Account

300,000Amount

YearQualifier

Select this check box.Cash Flow Analysis

5. Click Save.

6. Navigate to the Period Budget > Detail sheet and review the periodic budget breakdown.

7. Click Save.

8. Exit GL Account Budget Maintenance.

GL Account Allocation Maintenance

GL Account Allocation Maintenance defines how to distribute periodic expenses and revenues among accountsin a book.

A company contains at least one book to track general ledger (GL) transactions, and GL account allocationsregulate how much of these amounts, or allocation units, post to various journals. Typically, you use allocations

to distribute expenses across divisions, organizations, departments, or projects defined by a segment in the chartof accounts (COA) associated with the selected book. For example, you divide rent, heating, and lighting expensesbetween departments, based on the amount of floor space each uses. The allocation process creates an entry inGL Journal Entry, and this entry posts the allocation.

To define an allocation, select the book to which the allocation posts. Then designate the account from whichthe allocation amount originates, the accounts to which the amount distributes, and the basis of the allocation.

Allocations can extend inter-company processing. Inter-company processing updates multi-company accountsdefined in the COA of a parent company and its subsidiaries (child companies). You can select a multi-companyaccount as the account from which the allocation amount originates. As a result, the multi-company journalcreates allocation journals within the book.

Menu PathNavigate to this program from the Main Menu:

• Financial Management > General Ledger > Setup > Allocation Template

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Workshop - Modify an Account Allocation

A new department for Engineering and an account number for its expenses were added to your company'sMaster Chart of Accounts. Update the existing Insurance allocation in order to allocate a portion of the buildinginsurance total to the Engineering department.

Important Due to necessary database setup and specific data used, this workshop can only be performed

by one person on a shared database. If you cannot complete this workshop, follow the steps to review theexisting allocation.

Navigate to GL Account Allocation Maintenance.

Menu Path: Financial Management > General Ledger > Setup > Allocation Template

1. In the Allocation ID field, search for and select Insurance.

2. From the New menu, select New Allocation Line.


DataField

6134-00-90GL Account

2,500Allocation Units

4. Click Save.

5. Exit GL Account Allocation Maintenance.

Recurring Journal Entry

Recurring Journal Entry defines periodic adjusting journals. This program saves the work of manually creating journals for routine period adjustments.

To define recurring journals, create a journal record used to generate the recurring journals. This record includessettings that define:

• The header of each journal - Settings determine the fiscal calendar, chart of accounts, currency, and exchangerate of the journal. In addition, you can define recurring reversals for the journals.

• The details of each journal - Details define the accounts to which debit and credit amounts post. Typically,recurring journals post to the same accounts each period. Adjustments can be made to the detail amountsfor a journal prior to posting it.

The program's Action menu commands help to create and maintain the journals. After defining journal settings,

generate the journals for a specified fiscal year. You can modify each generated journal and use the menu's PrintEdit List command to verify their accuracy.

Use the Schedule sheet to designate a journal as scheduled. This provides control over which recurring journalspost.

Recurring journals typically update accounts allowed to lag as a practical necessity. This includes accounting for:

• Flow-type transactions such as depreciation, interest expense, or interest revenue

• Transactions recorded on a spot basis, such as bad debts and uncollected interest and dividends receivable

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Example A company posts a static amount of reserve for obsolescence each month. In this case, selecteach period to process the entry monthly. Alternately, a company only posts the reserve at the end of everyquarter. In this case, select periods 3, 6, 9, and 12 to process the journal once per quarter.

Menu Path


• Financial Management > General Ledger > Setup > Recurring Journal

Workshop - Create a Recurring Journal Entry

Your company has a contract with the Tundra Snow Removal Company to plow the parking lot from Octoberthrough April. They seldom get their invoices out before your company's month end closing, and your books areconsistently closed by the third day of each month. You estimate the monthly cost to be $500.00; however,Tundra invoices the actual amount each month. Create a recurring accrual journal entry to account for theestimated monthly cost of the snow removal charge.

Create a Recurring Journal Entry

Navigate to Recurring Journal Entry.

Menu Path: Financial Management > General Ledger > Setup > Recurring Journal

1. From the New menu, select New Entry.

2. In the Description field, enter XXX-Snow Removal (where XXX are your initials).

3. In the Entry Mode pane, select Single-Book.

4. Accept all other defaults and click Save.

Add Lines to a Recurring Journal Entry

1. From the New menu, select New Line.

2. In the GL Account field, enter 2000-00-00.

3. In the Debit field, enter 500.00.

4. Click the AutoBalance button.

The Credit field now displays 500.00.

5. In the GL Account field, enter 8000-00-00.

6. Click Save.

Generate a Schedule

1. From the Actions menu, select Generate Schedule for Fiscal Year.

The Generate Schedule window displays.

2. In the Generate Schedule window, accept all defaults, and click Generate.

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A message displays that informs you of the number of schedules created.

3. Click OK.

Update an Entry Schedule

1. Navigate to the Schedule sheet.

2. For periods 1-4 and 10-12, update the Schedule Status field to Scheduled.

3. Click Save.

4. Exit Recurring Journal Entry.

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Daily General Ledger Processing

This section of the General Ledger course focuses on General Ledger processes which may take place during atypical work day.

The following processes involving the General Ledger are performed on a regular basis:

• Apply Recurring Journal

• Journal Entry Group Posts

• Review Journal Entry

• GL Journal Entry

Apply Recurring Journals

Use Apply Recurring Journals to process recurring journals and create groups in GL Journal Entry with journaldetails based on the existing recurring journal records.

Set up this process to run on a recurring, automatic schedule. This ensures your general ledger is up to date withthe correct amounts for all active currencies your company uses.

Menu Path


• Financial Management > General Ledger > General Operations > Apply Recurring Journals

Workshop - Apply and Review Recurring Journals

Apply the recurring journal entry you created in the Workshop - Create a Recurring Journal Entry and verify thecreation of a recurring journal entry group in GL Journal Entry.

Important Due to the logic of the Apply Recurring Journals process, the Apply Recurring Journals sectionof this workshop can only be performed by one person in a multi-user, shared database. After that personcompletes the process, all recurring journals are applied.

If only one person is completing this course at the present time, this workshop can be completed in itsentirety.

Apply Recurring Journals

Navigate to Apply Recurring Journals.

Menu Path: Financial Management > General Ledger > General Operations > Apply Recurring Journals

1. In the Schedule Date Cutoff field, enter the last day of the current month.

Note the group prefix is RECUR.

2. In the Journal field, select General Journal.

3. Click Process.

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4. Exit Apply Recurring Journals.

Review the Recurring Journal Entry Group

Navigate to GL Journal Entry.

Menu Path: Financial Management > General Ledger > General Operations > Journal Entry

1. Click the Group ID button and click Search.

2. Select a group with a RECUR prefix.

The number of groups that display depends on the date entered in Apply Recurring Journal's ScheduleDate Cutoff field. Remember the recurring journal entry added in a prior workshop was not scheduled forevery period. So if the Schedule Date Cutoff was 9/30/2010, then four groups would display (periods 1-4).

3. Review the group details and exit GL Journal Entry.

Review Journal

Use the Review Journal to adjust, re-validate, cancel, and post accounting transactions. Typically, you use theReview Journal to locate posting errors and debug custom posting rules.

You can use the Journal Entry Asynchronous Confirmation command to re-post a group of adjusted journals.Each confirmation is executed independently as processing time becomes available. Using this command improvesperformance as you do not have to wait until one journal is processed before requesting another confirmation;you can schedule all journals to run and then continue other work. Use the Journal Entry AsynchronousCancellation command to cancel a list of selected journals.

Main Goals of the Review Journal

The Review Journal does the following:

• Logs invalid journal transactions even if the posting rules are not set up to manually review transactions.

While you display the Review Journal, you can sort error transactions by module, date, and user. For transactionswithin the Epicor application, use the Review Journal's error log to adjust source transactions.

• Displays transactions that generate when debugging a custom posting process.

Typically, developers review all transactions updates create. Their review ensures process changes producethe desired results.

• Adjusts an entry's line account numbers.

Following the adjustments, you can re-validate and post the journal from this program. You typically adjust

and post review journals when invalid journals originate from an external system.• Prints edit lists to review posting results.

Generate lists for source transactions when they originate within the application. The ability to print lists fromthis program supports this functionality for transactions that originate in external systems.

• Cancels or confirms entries.

Both actions remove the journal entries from the program. Confirmation updates the accounting transactionsin the books to which they post. If the updated transactions are invalid, the Review Journal again displays theentries with their posting errors.

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Review Journal Data Display

The Review Journal segregates the display of journal entries by book for the following reasons:

• Posting a single accounting transaction can create different journal details in multiple books. A single journalentry groups all the journals posted to all the books by a single accounting transaction.

Example An Accounts Receivable invoice can post a journal with one set of details to the corporation'sfinancial book and another journal with different lines to the company's legal book. Journal entries that

display in the Review Journal group these accounting transactions.

• Book validation settings determine the errors and warnings the application logs. Book-specific validationmeans the same transaction can produce different results when it posts to different books.

Example A transaction that generates an error can be ignored or treated as a warning. The validationsettings of a book do not influence the validation settings in other books. You can set up validationrules to ignore this transaction in Book 1 while the same transaction type can be set up to generate awarning in Book 2.

• If multiple books use different base currencies, each transaction amount displays in each book at the correctcurrency value.

Summarization

Summarization settings that apply to accounting transactions also affect available adjustments in this program.Journal summarization, applied to natural accounts and accounting processes, results in the posting of summarylines for transactions. The Review Journal displays source details for each summarized line but limits the adjustmentsto maintain the referential integrity of the summarized lines.

• Dates and accounts are shared between source details and can be adjusted on the summarized line level.

• Amount, debit/credit flag, and references (specific to each source detail) can be adjusted on the source linelevel.

Menu Path


• Financial Management > General Ledger > General Operations > Review Journal

Workshop - Review a GL Journal with Errors

Post a miscellaneous AR invoice with tax. The tax added does not have GL controls set. Attempting to post theinvoice sends the transaction to the Review Journal.

Create a Miscellaneous AR Invoice

Navigate to AR Invoice Entry.

Menu Path: Financial Management > Accounts Receivable > General Operations > Invoice Entry

1. From the New menu, select New Group.

2. In the Group field, enter XXX (where XXX are your initials).

3. Click Save.

4. From the New menu, select New Miscellaneous Invoice.

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5. Navigate to the Header > Sold To sheet.

6. In the Customer field, enter USASHELF, and press Tab.

7. Click Save.

Add an Invoice Line and Tax Code1. From the New menu, select New Line.

2. Click Save.

3. From the New menu, select New Tax Code.

4. In the Tax Type field, select No GL Control.

5. Click Save.

Post and Review the AR Invoice

1. From the Actions menu, select Group > Post.

The AR Invoice Post Process window displays.

2. Click Submit and close the AR Invoice Post Process window.

Wait a few seconds for the invoice post to process.

3. Exit and immediately re-enter AR Invoice Entry.

You must exit and re-enter the program to prompt the application to display the review journal informationdirectly on the invoice group.

4. In the Group field, enter XXX (where XXX are your initials) and press Tab.

Your invoice entry group opens and displays a red indicator that states Reviewing, and a journal numberpopulates the Review Journal field.

Cancel a Journal Entry

1. In the Review Journal field, right-click and select Open With > Review Journal Entry.This redirects you to the Review Journal.

2. Review the journal entry's Errors and Warnings.

A review of this entry shows that a credit account to post to was unavailable for the tax lines on this invoice.Because updates are required to post this journal, you decide to cancel the entry for now. This frees up thetransaction in AR Invoice Entry for updates. After any updates are made, you can post again via AR InvoiceEntry.

3. From the Actions menu, select Journal Entry Cancellation.

The Deletion of journal entry window displays.

4. In the Deletion of journal entry window, click Yes.

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5. Exit the Review Journal.

6. If it is open, exit AR Invoice Entry.

GL Journal Entry

Use GL Journal Entry to create, reverse, and post allocations and manual journal entries.

Define and maintain journal groups, journals, and journal lines with GL Journal Entry.

• Journal groups supply settings that affect all its journals. Specification of an entry mode determines the contextused to enter the group's journals. The context determines the group's fiscal calendar, posting period, currency,and chart of accounts (COA).

• Journal headers set the apply date, journal code, and rate type for a journal and its lines. In addition, you canuse the header to reverse a journal. Most settings that apply to headers originate from the group's settings.

• Journal details define the accounts to which debit and credit amounts post. In addition, you can post a lineto another company's COA for multi-company accounts.

Enter journal detail amounts in the currency of the book the journal group uses. The Epicor application convertsthe amount to other currencies if:

• The account to which the amount posts is a currency account. This designation allows the conversion of the journal amount to another currency for reporting.

• A multi-book journal posts to a book with a different currency. In multi-book mode, a single book definesthe currency used to enter amounts, but the same journal can also post to books that use other currencies.When the currencies differ, the application uses the rate type that applies to the journal to convert the amount.

If an exchange rate is incorrect, you can create manual entries to adjust the converted values to the correctamounts. The program's Action menu commands allow you to manage allocations and print and post manual

journals.

Menu Path


• Financial Management > General Ledger > General Operations > Journal Entry

• Financial Management > Multi-Site > General Operations > Journal Entry

Workshop - Create Journal Entries

In this workshop, create three journal entries, including one which uses the general ledger account allocationpreviously created, and another which applies tax to the lines.

Enter a Journal Entry GroupNavigate to GL Journal Entry.

Menu Path: Financial Management > General Ledger > General Operations > Journal Entry

1. From the New menu, select New Group.


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DataField

XXX (where XXX are your initials)Group ID

Single-BookEntry Mode

Main BookSingle-Book

OrdinaryPeriod Type

General JournalJournal

3. Accept all other default data.

4. Click Save.

Create a Journal

1. From the New menu, select New Journal.

2. In the Description field, enter XXX Correct Balances (where XXX are your initials) and press Tab.

3. Accept all other default data.

4. Click Save.

Add Journal Lines

1. From the New menu, select New Journal Line.

2. In the G/L Account field, enter 1200-00-00 and click Save.

3. In the Debit field, enter 25,000.00 and click Save.



6. In the Debit field, enter 30,000.00 and click Save.

7. Click the Auto Balance button.

This auto fills the Credit field with the total amount to balance the entry (in this case, 55,000.00).

8. In the G/L Account field, enter 2000-00-00.

9. Click Save.

Create an Allocated Journal Entry


2. In the Description field, enter XXX Allocate Insurance (where XXX are your initials) and press Tab.

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3. Click Save.

4. From the Actions menu, select Allocation Template.

The Allocation Template window displays.

5. In the Allocations field, verify Insurance displays.

6. In the Amount field, enter 5000.00.

7. Click OK.Allocated journal lines display based on the allocation parameters previously defined in GL Allocation EntryMaintenance.

8. Click Save.

Create a Journal with Tax Lines


2. In the Description field, enter XXX Tax Journal.

3. In the Tax Handling field, select Taxable Journal Lines.

This option is available because you enabled tax entry in Company Configuration earlier in the course.

4. Click Save.

Add Journal Lines



3. In the Debit field, enter 1000 and click Save.


5. In the G/L Account field, enter 2000-00-00.

6. In the Credit field, enter 1175 and click Save.

7. Click Auto Balance.

A new line is created, with 175.00 in the Debit field.

8. Select the Tax Line check box.

The tax-related fields enable.

9. In the Tax Liability field, select UK VAT.

10. In the Tax Type field, select Value Added Tax.

11. Verify VAT Rate 2008 is selected in the Tax Rate field.

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12. In the Report Module field, select AP.

13. In the Taxable Line field, select 1.

This associates the tax line with journal line 1. The Taxable Amount field automatically displays 1,000.00.

14. Click Auto-complete.

The tax accrual account, 2400-00-00, displays in the G/L Account field.

15. Click Save.

Print an Edit List

1. From the Actions menu, select Print Edit List.

The Journal Entry Edit List Report window displays.

2. Verify that Standard - SSRS is selected in the Report Style field.

3. Accept the default settings.

4. Click Print Preview and review the report.

5. Close the report and the Journal Entry Edit List Report window.

Post a Journal Entry Group

1. From the Actions menu, select Post.

2. To the Are you sure? message, click Yes.

3. To the Transaction is posted to the GL message, click OK.

4. Exit GL Journal Entry.

Journal Listing

Use the Journal Listing program to produce a list of detailed journal entries for the periods or date range forthe journals you select.

From the Detail sheet, you can select an option to display information about the external company on the report.The name of the company and other details will display.

You can select the Multi-Company Journals Only check box If you wish to indicate that only journals used bymultiple companies will be displayed on the report. This check box also activates the External Company list;use this list to select a specific external company to review.

From the Filter sheet, you can select the journals to include in the report.

Menu Path


• Financial Management > General Ledger > Reports > Journal Listing

• Financial Management > Multi-Site > Reports > Journal Listing

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GL Trackers

Three trackers are available in the General Ledger module that display information based on activity specific toa book and fiscal year. Once you select a book and a fiscal year (or fiscal period in some cases) to track, theJournal Tracker displays information for the specific journal code you select; the Chart Tracker displays information

on specific accounts chosen, and the Journal Detail Tracker displays current information about a specific journalrecord.

Journal Tracker

Menu Path: Financial Management > General Ledger > General Operations > Journal Tracker

Chart Tracker

Menu Path: Financial Management > General Ledger > General Operations > Chart Tracker

Journal Detail Tracker

Menu Path: Financial Management > General Ledger > General Operations > Journal Detail Tracker

Details that relate to the transactions that display in each of these trackers are accessible as you make your way

through the dashboard. Although you cannot add or edit records in any of these trackers, the Chart Trackeroffers the option to calculate a balance within a journal for a selected period.

The Journal Detail Tracker includes a Tran GLC Detail sheet. This sheet is sometimes referred to as the TranGLCTracker. On this sheet, you can find a transaction's Trans GLC Number, which specifies an internal identifiernumber used to keep records unique. This number is generated by the Epicor application. Also, if your companytracks transaction Sequence Numbers, use this sheet to look them up on a transaction line basis.

Workshop - View GL Journal Transactions

Data was recorded during this course that you can now view in the Journal Tracker. Use this tracker to reviewspecific journal postings.

Select Journal Codes to TrackNavigate to the Journal Tracker.

Menu Path: Financial Management > General Ledger > General Operations > Journal Tracker

1. In the Book field, verify Main Book displays.

2. Click the Journal Code button.

3. Click the Search button.

4. Click the Select All button.

5. Click OK.

Verify Transaction Details

1. Navigate to the Transaction Detail > Specific > Detail sheet.

2. In the tree view, highlight General Journal.

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Because more than one journal code was selected in the previous task, you can use the tree view to highlightany journal you want to review.

3. Verify the Fiscal Year, Start Period, and End Period fields are populated with the current fiscal year andperiod.

4. Click the Retrieve button.

The information that pulls into this sheet represents all journal transactions posted to the General Journalfor the specified book, fiscal year, and periods.

5. Highlight any entry.

Track Specific Journal Details

1. Navigate to the Transaction Detail > Specific > Journal Detail sheet.

2. Click the Retrieve button.The information that pulls into this sheet represents the details of the specific journal entry number highlightedin the previous task.

3. Review the data.

4. Exit the Journal Tracker.

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Specialized General Ledger Processing

This section of the General Ledger course focuses on General Ledger processes which may take place yearly orwhen the need arises.

The following specialized general ledger processes discussed in this course are as follows:

• GL Transaction Mapping

• Automatic Transaction Reversal

• Close Period Entry

• Transfer Opening Balances to Next Year

• Financial Report Designer

GL Transaction Matching

Use GL Transaction Matching to match debit and credit movements against a GL account. Once you completematching, you can produce a listing of GL transaction movements that remain unmatched by selecting theUnmatched option when running the GL Account Summary Report.

• You can only match those GL transactions that contain natural accounts or account segments for which theEnable Transaction Matching check box has been selected in COA Category Maintenance, or in the AccountSegment Values > Natural Account Options sheets.

• When you use this program, it displays all unmatched journal detail lines for the selected book and accountsegments. Two or more journal lines can then be selected; the Balance field displays a running balance ofthe debit and credit balances for all selected lines. When the displayed balance is zero, you can then matchand save the selected items as a group.

• The Epicor application flags the rows as matched, assigns a match code and match date, and them removesthem from the display grid. You can view this matching code and date in the Chart Tracker.

• GL Transaction Matching also contains a Remove Match button that provides the means for removing thematching flag from a matched set (to correct a matching error).

Menu Path


• Financial Management > General Ledger > General Operations > GL Transaction Matching

General Ledger Account Summary Report

The General Ledger Account Summary Report displays financial information for accounts and/or periods youselect. There are summary, detail, and full versions of the report.

The General Ledger Account Summary Report is similar to the General Ledger Report. With the General LedgerAccount Summary Report, you can structure the report by natural account sub-total levels. Sub-totals are producedbased on natural account numbers. It also provides the means of specifying whether you want transactions thathave been matched or are still unmatched included in the report.

Tip Use GL Transaction Matching to match debit and credit movements against a GL account.

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Using the Filter sheets, you can also select specific books and segments. Additionally, you can include and excludenatural accounts.

Example Natural accounts beginning with 8 and 9 are analytical accounts for your company and youwould like to exclude them from the report. Use the Excluded Natural Account sheet to search for andselect the appropriate natural accounts for exclusion.

Important For more information on how to review the status of a report you print, preview, or generate,

refer to the System Monitor Overview topic in the Application Help.

Menu Path


• Financial Management > General Ledger > Reports > General Ledger Account Summary

Automatic Transaction Reversal

Use Automatic Transaction Reversal to cancel a posted journal. Cancellation of journals reduces taxconsequences in countries such as Russia and in other jurisdictions where tax is based on turnover in generalledger accounts.

You can reverse the most recently posted journals. After you make the corrections you need, you can then re-postthe journals. This prevents values from being doubled within the posted results.

Available cancellation modes:

• Reverse Transaction - Posts debit amounts equal to credit amounts on the original journal and credit amountsequal to debit amounts on the original journal. In Russia, this mode is known as ordinary storno. For example,you estimate payroll as a $1000.00 credit to the payroll accrual. When reversed, a second entry is created asa $1000.00 debit to the same account.

• Reverse as Red Storno - Posts transactions that contain reversing amounts. This type of journal contains anegative debit or credit line when the debit or credit line on the original journal increases the account balance;the journal contains a positive debit or credit line when the debit or credit l ine on the original entry decreasesthe account balance. For example, a posted journal line debits an asset account. A red storno journal posts anegative debit line to the same account to cancel the increase from the original detail.

Reversals apply to all details in a journal and to the entire amount on a journal line. You cannot choose the detailsyou reverse and cannot partially reverse a detail.

In GL Journal Entry, you can also select journals and flag them for red storno processing.

Menu Path


• Financial Management > General Ledger > General Operations > Automatic Transaction Reversal• Financial Management > Multi-Site > General Operations > Automatic Transaction Reversal

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Close Period Entry

Close Period Entry allows you to close both ordinary and closing periods specific for each book in your company'sgeneral ledger (GL). If you close the last closing period in the fiscal year of a book, all previous periods (ordinaryand closing) close automatically.

When posting to a closed period, the application's logic is defined by the validations set on the books. Thevalidations you define determine if the application should allow for the posting to error, auto-correct to thecurrently open period, or proceed. Therefore, you can control whether posting to a closed period is allowed.

Although Close Period Entry defines a period as closed, the GL transactions for that period remain in your database.You can post transactions to previous and future periods or, if necessary, re-open a closed period. You can printfinancial statements for any closed period. To prevent book updates in certain periods, use Earliest Apply Date.

Internal procedures dictate the housekeeping activities that should occur prior to closing a fiscal period or year.Activities can include the following:

• Post all Accounts Payable related groups for the period

• Execute the Capture COS/WIP Activity process for the period

• Post all Journal Entry groups for the period

Tip

To transfer your balances to the next year after closing the last fiscal period, run the Transfer OpeningBalances to Next Year process.

Menu Path


• Financial Management > General Ledger > General Operations > Close Fiscal Period/Year

Workshop - Close Fiscal Periods

In this workshop, close two periods in the fiscal calendar created in a prior workshop.

Navigate to Close Period Entry.

Menu Path: Financial Management > General Ledger > General Operations > Close Fiscal Period/Year

1. In the Book field, select XXX's Book (where XXX are your initials).

The fiscal calendar created and assigned to the selected book in previous workshops, automatically populatesthe Fiscal Calendar field.

2. In the Fiscal Year/Suffix field, enter the current calendar year and press Tab.

3. Select period one's Closed check box.

4. Click Save.

5. Select period twelve's Closed check box.

6. Review the warning message that displays.

The message advises that preceding periods in the selected year are open and asks if you want to continue.

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7. In the Warning window, click Yes.

8. Click Save and remain in Close Period Entry.

Workshop - Reopen a Fiscal Period

In this workshop, reopen one of the fiscal periods you closed in a prior workshop.Important Due to necessary database setup and specific data used to reopen fiscal periods, this workshopcan only be performed by one person in a shared database. If you are unable to perform this workshop,please use the documented steps to review the process.

1. Clear period twelve's Closed check box.

2. Review the warning message that displays.

The message advises that you are opening a previously closed period and asks if you want to continue.

3. In the Warning window, click Yes.

4. Click Save and exit Close Period Entry.

Transfer Opening Balances to Next Year

As part of your year end procedures, run the Transfer Opening Balances to Next Year process after you closethe last fiscal period. This is the only way to transfer balances to the next year.

You can schedule the Transfer Balances process. After you transfer balances the first time, they update witheach posted transaction and can be re-transferred any time. This allows you to transfer balances to the next yearbefore the current year end and to create early drafts of next year's opening balance. Then, you can transfer thefinal balances after all the previous year adjustments are complete.

Tip If you change your book's retained earnings definition, there is a possibility that the opening balancefrom prior years will not reflect all income statement account balances that are now part of the retainedearnings definition. You may need to make a manual adjustment to correct the balances of prior years.

Menu Path


• Financial Management > General Ledger > General Operations > Transfer Opening Balances to Next Year

Financial Report Designer

Financial Report Designer (FRD) allows you to create custom financial reports for your company. You can setup a report, select the data and accounts that will appear on the report, define the report layout, and select thereport format.

Tip This program creates report files in the .xml format. Display these reports through any application thatsupports this file format.

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Financial reports are defined based on three areas - report details, rows, and columns. Each report you createcan be as simple or as complex as necessary.

FRD has a tool called the Report Wizard which creates the basic framework for your report and then allows youto provide the specific data and accounts to display on the report. Use the Report Wizard to quickly create astandard income statement or balance sheet. Use of the Report Wizard is not mandatory.

For more information on the Report Wizard, refer to the Application Help topic: Financial Report Designer >Actions Menu > Report Wizard.

Creation Process

When you create a custom report, you first use the Reports sheet to define the overall look of the report. Thissheet allows you to select a default heading font and data font. The columns and rows then use these fonts bydefault.

Tip You can override the default fonts for a specific column or row.

After you define the default report settings, create the rows. Each row is assigned a specific sequence number.This number ranks the row's order on the report. Then select the line type; each line type has a specific functionwithin the report. Also define which accounts will appear on each row.

Once you finish entering the rows, decide on the column sets. A column set is a group of related columns. Asyou create columns on your custom report, link each column to a column set. Each column is then further definedby a column type and each type has a specific function within the report.

After you create the rows and columns for the report, use the Specification > Syntax Check sheet to test thereport for errors and to check the data added to a report that was created using the Report Wizard.

Custom Report Printing

You can print all reports you design within the Financial Reports program in the General Ledger module’sReports folder.

Tip To learn how to use this program, refer to the Application Help topic: Financial Reports.

Menu Path


• Financial Management > General Ledger > Setup > Financial Report Designer

• Financial Management > Multi-Site > Setup > Financial Report Designer

Important This program is not available in the Epicor Web Access.

Report Wizard

The Report Wizard allows you to specify the financial report type you want to create (Balance Sheet or IncomeStatement) and guides you through the report design process.

This tool can quickly create standard Balance Sheet and Income Statement reports for your company. TheReport Wizard can differentiate between these two report types, and based on your selection, it automaticallycreates the basic report framework.

This framework includes:

• Report Format and Defaults

• Column Specifications

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• Row Specifications

Once the tool sets the report framework, you can alter the report to fit your company's reporting needs.

Before you can use the Report Wizard, you must define at least one Net Income category. For more information,refer to the General Ledger Setup Programs topic: COA Category Maintenance in the Application Help.

Workshop - Use the Report Wizard to Create a Balance Sheet

In this workshop, use the Report Wizard to create a balance sheet for your company.

Navigate to Financial Report Designer.

Menu Path: Financial Management > General Ledger > Setup > Financial Report Designer

Important This program is not available in the Epicor Web Access.

1. From the New menu, select New Report.

2. In the Report ID field, enter XXX BalSheet (where XXX are your initials).

3. In the Description and Report Title fields, enter XXX's Balance Sheet (where XXX are your initials).

4. In the Book field, select Main Book.

Master Chart of Accounts defaults into the COA field, as that is the Main Book's chart of accounts.

5. Accept all other default values on this sheet.

Review the values that default into the Balance Level and Balance Frequency fields.

6. From the Actions menu, select Report Wizard.

7. In the Financial Report Wizard window, select Balance Sheet.

Review the verbiage that displays in the Financial Report Wizard window when Balance Sheet is selected.

8. Click OK.

9. Navigate to the Specification sheet.

10. Use the tree view to navigate through and review the Rows and Columns the Report Wizard automaticallycreated.

11. Click Save.

12. Minimize the Financial Report Designer.

Syntax Check

Both Financial Report Designer and Financial Reports have a Syntax Check function that checks for possiblereport errors.

Use the Syntax Check to verify your financial reports are correctly designed. On the selected report's Specification> Syntax Check sheet, select the report type for which the check should run. The report type choices includeIncome Statement, Balance Sheet, and Other. If you select Income Statement, the program looks for income

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accounts. If you select Balance Sheet, the program reviews all balance sheet accounts. If you select Other, theprogram does not verify any accounts on the report but still checks for other types of errors.

The errors in the following table are reported within the context of the report type specified before running thecheck.

DescriptionError

A name specified in a row's Total to Name field is not accumulated in atotal-type row's Print Total in another place on the report.

Unreferenced Total

A name specified in a total-type row's Print Total field is not defined in anyother row's Total to Name field.

Undefined Print Total

A General Ledger (GL) account displays more than once in this reportdefinition.

Duplicate Reference of a GLAccount

At least one of the chart of accounts (COA) categories must be marked as aNet Income account. This is performed in COA Category Maintenance.

One Net Income Category forBalance Sheet Required

A required GL account does not display on the report. If this is an IncomeStatement report, a required income statement account does not display in

Unreferenced GL Account

the report definition. If this is a Balance Sheet report, a required balance sheet

account does not display in the report definition.If this is an Income Statement, this indicates that a balance sheet account isincluded in the report definition. If this is a Balance Sheet, an income statementaccount is included in the report definition.

Wrong Account Type

Customize Financial Reports

After you use the Report Wizard to generate financial reports, you can arrange each report's framework in a waythat meets your company's specific reporting needs. You can also create a financial report without using thewizard.

It is important to note that the specification of each financial report is comprised of rows and columns much likeExcel™ spreadsheets. Both rows and columns have predefined Types that control the information that displaysin each cell. Each row and column has its own set of formatting options.

If you customize your financial reports, run a Syntax Check to screen for mistakes. The Financial Report Designerprovides a tool that performs the syntax check to help maintain the report's integrity. Each check produces areport that advises what may be missing from or incorrectly included in the customized report.

Report Details

When you create a financial report, you not only have the option to customize report information, but you canalso decide the format in which the report displays.

When you work with the Financial Report Designer, the first sheet you encounter is the Report sheet. On thissheet, define the current report's Book, Chart of Accounts (COA), Report Title, Balance Level, and BalanceFrequency, as well as its default Report Font, Font Size, and style (Bold, Italic, or Underline).

Further, the Detail and Layout sheets (located under the Specification > Rows and Specification > Columnssheets) have the following format options which override the default information:

Formatting Options

• Title Font

• Data Font

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• Font Size

• Style (Italic, Underline, Bold)

Additional Row-Specific Options

• Skip (Page) After

• Skip (Page) Before

• Indents

• New Page

• Reverse Sign

Rows

Each row you add to a financial report is assigned specifications - a Sequence Number that ranks the row'sorder on the report and a Line Type that defines the row's function. You can also select accounts, segments,or chart of accounts (COA) categories on which to report.

Sequence and Line Types

When you create a row, first define the row's Sequence number and then its Line Type. Each line type has aspecific function within the report. Depending on the line type, different fields are available.

Sequence

A row's sequence number controls the order in which it prints on financial reports. Every row created has asequence number. The Epicor application automatically creates sequence numbers in increments of 100. If a newrow must be inserted, change its auto assigned sequence number to be lower than the row that should followit.

Line Types

Heading Line - This type prints the text in the Description field. A Heading row is typically used to enter textthat describes the detail to follow.

A standard balance sheet has an Assets section. Within the Assets section are the Current Assets and theProperty & Equipment sections. A heading can be created for each of these sections making it easier to viewthe detail lines to follow.

Account Details - This type allows you to select a specific chart of accounts (COA) category or account numbersto display within the row.

Total - This type generally follows an Account Details line with a description that explains what the total represents.With this type, you can select Print Total. If selected, the data in this field should be the Total to Name definedin the preceding Account Detail line.

Summary - This type allows you to select a range of segments or account numbers for the row and then

summarizes the totals of these accounts.

Example There are multiple account numbers defined as Cash in your company. A standard balance sheetdisplays each cash account with its corresponding balance. The CFO wants a single line for the cash balanceon the balance sheet. To accomplish this, create a summary row called Cash and select all the cash accountson the row. The balance sheet should then display a single line called Cash with a corresponding valuethat is the sum of all the cash accounts.

This type creates a Net Income row to display your company's net income. For this row's Line Type, selectSummary. Use this row to accumulate data from all income statement accounts. If you use the Report

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Wizard to create your balance sheet, a Net Income row is automatically created, but you still need todefine which accounts to include within this summary.

Ratio % - This type allows you to specify which rows to include within a calculated ratio. The ratio calculationroutine divides the values in the row selected in the top line of the Ratio field by the values in the row selectedin the bottom line of the Ratio field.

A common income statement ratio is one that expresses sales as a percentage of gross profits. A Ratio line type

would be created to follow the Total line type for gross profits. If the Total Sales row is sequence 300 and theGross Profits row is sequence 700, a Ratio row, sequence 800, would have 700 in the top portion of the Ratiofield and 300 in the bottom portion.

The Ratio % line types interact with the Comparative % column types discussed in the Column Types section ofthis course.

Columns

Use the Columns > Detail sheet to create or edit columns for the current report. First, define a column set touse for the new column. Next, select a column type, and finally, enter column details.

Column Sets

Once a financial report's rows are defined, multiple sets of column definitions can be entered. Different columnsets allow you to view the same set of rows with different sets of column values. By using column sets, you canreduce the number of reports created.

Use the Column Sets sheet to view the column sets on the current report. This sheet helps you review the report’scurrent column sets and the data each set displays. Use this sheet to select a column set; you can then edit thiscolumn set on the List sheet or the Column > Detail sheet.

When you print a financial report, you must select a specific column set to print.

Example An income statement includes one set of columns for budget amounts and another for actualamounts. When you print this custom report, you only want to review the budget amounts. Select thebudget column set and print the income statement.

Column Types

Use the Columns > Detail sheet to create or edit columns for the current report. First define the column set touse for the new column. Then enter the column details.

After you select a column set, define the column’s type. Each column type has a specific function within thereport. Depending on the type you select, different fields become available on this sheet.

The available column types include:

• Actuals – A column that displays the total debits and credits currently posted to the General Ledger.

•Budget

– A column that displays the amount defined for a budget within GL Account Budget Maintenance.

• Comparative % - This column displays a calculated percentage. This percentage is based on the totals withina row selected as a Ratio % line type.

• Account Number – A column that displays the chart, division, and department number defined within Chartof Accounts Maintenance.

• Variance – A column that displays the difference between two selected columns. This difference can displayas either a percentage or a flat amount.

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• Text – A column that displays the account description. This description is created within Chart of AccountsMaintenance.

• Crossfoot Total – A column that displays an accumulated total of the numeric values between two columns.You select the range of columns used to calculate this total.

Column Type Options

The following fields are available for the Actual and Budget column types:

• Year Offset - This is the number of previous fiscal years from which the application should pull data to placein this column. This field is also available for the Crossfoot Total column type.

Note Enter 0 (zero) to display the current fiscal year's data.

Example A common report view is a comparison of the current period's values and the values for thesame period last year. In the current period's column, the Number of Periods is 1, and the Year Offsetis 0. In the column for this period last year, the Number of Periods is 1, and the Year Offset is 1.

• Number of Periods - This is the number of fiscal periods the application should use to populate data in thiscolumn.

The sum of the periods entered in this field is only for the current fiscal year's values unless the Rolling Periodscheck box is selected.

Example If a column should display the current period's values, enter 1 in this field. If the value of thecolumn should be a year-to-date total, enter 12.

• Period Offset - This is the number of previous fiscal periods from which the application should pull data toplace in this column.

Enter 0 to display the current fiscal period's data.

Example You want to see the budgeted amounts for the previous fiscal period. For the current budgetcolumn, enter 1 as the period offset.

• Rolling Periods - This check box works in conjunction with the Number of Periods field to sum the value ofmultiple periods across fiscal years. When selected, this check box indicates that the report should moveforward to a new fiscal year. This field is also available for the Crossfoot Total column type.

Example The Number of Periods field is set to 12, and the Rolling Periods check box is selected.Print the financial report in period 6, year 2008. The value in this column is the sum of values fromperiod 7, year 2007 through period 6, year 2008.

The Number of Days, Days Offset, and Rolling Days fields are available for the above column types if the column'sInterval field is set to By Day instead of By Period.

The following fields are available for the Variance column type:

• Variance Column 1 - This is the first column you use to calculate a variance. The variance that prints here isthe difference between this column and the value in the Variance Column 2 field.

• Variance Column 2 - This is the second column you use to calculate a variance. The variance that prints hereis the difference between this column and the value in the Variance Column 1 field.

Example In a report, Column 3 contains the current period actuals. Column 5 is the current periodbudget. To see the difference between these two numbers, create a variance column and enter 3 asVariance Column 1 and 5 as Variance Column 2.

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• Show as Percent - When selected, this check box indicates that any variance between Variance Column 1and Variance Column 2 should display as a percentage. If this check box is clear, a flat amount displays instead.

The following fields are available for the Crossfoot Total column type:

• Total Column 1 - This is the first column you use to calculate a total. The total that prints in this column isthe sum of the numeric values in the columns between this one and the Total Column 2 field.

• Total Column 2 - This is the second column you use to calculate a total. The total that prints in this column

is the sum of the numeric values in the columns between this one and the Total Column 1 field.Example Columns 1, 3, and 4 all contain numeric data. Column 2 has descriptive text. To see the totalof columns 1, 3, and 4, create a Crossfoot Total column and enter 1 as Total Column 1 and 4 as TotalColumn 2.

Workshop - Customize a Financial Report

In this workshop, create a custom financial report.

Create a Financial Report

Maximize the Financial Report Designer.

1. From the New menu, select New Report.

2. In the Report ID field, enter XXXAsset (where XXX are your initials).

3. In the Description and Report Title fields, enter XXX Current Asset List.

4. In the Book field, select Main Book.

5. Click Save.

Add Rows

1. From the New menu, select New Row.

2. Use the following information to enter a row:

DataField

Current AssetsDescription

Heading LineLine Type

3. Click Save.

4. From the New menu, select New Row.

5. Use the following information to enter a row:

DataField

Current AssetsDescription

Account DetailsLine Type

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DataField

Select this radio buttonSelect Category

Current AssetsCategory

6. Click Save.

Add a Column

1. From the New menu, select New Column.

2. Use the following information to enter and save five standard columns:

Show AsPercent

VarianceColumn2

VarianceColumn1

PeriodOffset

NumberofPeriods

YearOffset

ColumnType

FieldBelowTitle

TitleColumn SetID

Account

Number

AccountStandard

TextAccountDescrip

Standard

0120BudgetCurrentYTD

BudgetActuals

Standard

0121ActualsLast YearActualsStandard

Select thischeck box

43Variance% VarianceStandard

3.Click

Save.

4. Review the design and exit the Financial Report Designer.

Financial Reports

Use Financial Reports to print out reports created through the Financial Report Designer. This program lets youcreate customized General Ledger reports. These reports will have an .xml spreadsheet format.

Menu Path: Financial Management > General Ledger > Reports > Financial Reports

You can also make sure the report’s syntax is correct by using the Syntax sheet. This sheet lets you check forerrors before you run the custom GL report.

Before you generate a financial report, define which book, column set, report format and fiscal period/year youwant to report on using the Selection and Filter sheets. You can also print zero balances and include carryforward balances.

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Workshop - Process and Save a Financial Report

In this workshop, process a financial report and save it as an Excel spreadsheet.

Preview a Financial Report

Navigate to Financial Reports.

Menu Path: Financial Management > General Ledger > Reports > Financial Reports

1. In the Report field, search for and select XXX BalSheet (where XXX are your initials).

2. In the Column Set field, search for and select Standard.

3. In the Balance Level field, select Summary Balance Account.

4. Accept all other default values for the report.

5. Click Print Preview.

Review the report.

Save the Report as an Excel File

1. Verify the report generated in the previous workshop is in view.

2. From the File menu, select Save As Excel or select the Save As Excel icon.

3. Next to the File Location field, click the ... (ellipsis) button.

4. Browse to the C:\temp folder (or your desktop) and click Save.

5. Review the Orientation and Scaling options, but accept defaults for this workshop.

6. In the Action section, select the Save and Open Excel option.

7. Click OK.

8. Review and close the reports.

9. Exit Financial Reports.

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Conclusion

Congratulations! You have completed the General Ledger course.

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ConclusionGeneral Ledger Course



Index

A

account segment values 28automatic transaction reversal 63

B

book maintenance 36

C

chart of account structure maintenance 16chart of accounts mapping 40coa category maintenance 25

E

earliest apply date entry 15

F

fiscal calendar maintenance 13

G

general ledger account maintenance 32gl control type maintenance 45glL coa reference type 41

J

journal code maintenance 43

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General Ledger CourseIndex



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this site, you need a Site ID and an EPICweb account. To create anaccount, go to http://support.epicor.com.

http://support.epicor.com/

http://support.epicor.com/

Documents

General.ledger