A-2 from the main menu

 

Is recommended that every morning you go to A-2 and from the main menu and create entries for the day before. You can create entries and export for any day or date range you wish, and you can re-create entries for any day or date range you wish. If you get into a routine where you are consistently creating entries on a daily basis for the day before, you will reduce the possibilities of missing days or overlapping date ranges for exports.

 

Even if you do not intend to export financial data, and subsequently import that data into your accounting software, this routine in FocalPoint is the most reliable source of information for your financial data. The reason for this is primarily because this function is the best area to track your deposits liabilities (money on open orders).

 

To create an export file, or to simply print out financial information so that you can manually transfer it to your accounting software or give to your accountant, simply use the calendar buttons to select the day or date range you wish to create entries for. Then click on the create entries button in the upper right-hand corner of the screen. Upon doing so, you will get one of three responses:

 

•Your export is in balance – this basically means that your credits equal your debits and your financial information in FocalPoint is in balance.

•Your export is in balance, but you have exceptions – this means that your credits equal your debits, but FocalPoint found one or more transactions that were not in balance. FocalPoint will flag these transactions as exceptions, and ignore them when creating your journal entries. Please call Visum should you get this response when you create entries.

•Your export is not in balance – this means that your credits do not equal your debits. Please call Visum should you get this response when you create entries.

 

Once you have created the entries, and your export is in balance, you will have the opportunity to export this data using the export button in the upper right-hand corner of the screen. Further you can print this data by utilizing the print button in the upper right-hand corner of the screen.

 

Once you have reached this point in the exporting setup, please call Visum and schedule an appointment for a final review of the export set up, and instructions on how to import this information into your accounting software. Because this functionality works with many different accounting software packages, and because we want to make sure that everything is set up properly so that you can move forward without incident, it is necessary to spend a little one-on-one time with each customer to ensure successful financial exporting and reporting.

 

You will notice on this export screen that you can export for all entries or just certain entries using the "posting choices" buttons at the top of the screen. Normally you will simply create entries for everything at once. However, there are circumstances where you may want to only export certain areas at certain times. This functionality will also be discussed during the final review. Brief explanations on the posting choices are below:

 

•Front counter – orders, credits, work orders

•A/R – Finance charges, payments on account in batch entry, invoices (debit adjustments) and credit adjustments. 4 things can happen in A/R.  Finance charges, payments, debit adjustments, credit adjustments.

•Finance charges – A/R increases (debit), Finance Charge revenue also increases (credit).  Both of these are set in the store manager file.

•Payments – This is for payment batches only.  A/R will go down (credit) and your money account will go up (debit).  The money account for this situation is based on the deposit code set up  (6-9-3).  This is in place so that you can be diverse with which bank account you use.

•Debit Adjustments – A/R is debited (from the A/R account set up in the store manager file).  You will be asked for accounts to offset the A/R entry.  Here you pick the actual GL account that you will be crediting.

•Credit Adjustments – A/R is credited (based on the A/R account set up in the store manager file).  You will need an expense code set up (3-5) to pick from, and you can only pick one expense code per entry.

•Deposits – (money on open orders.  Not everybody exports these which is why they’re in their own category.  Prepayments are when you take a payment at the front counter prior to the order being closed. "Authorizations Only” credit card transactions and "Security Deposits" are the only prepayments not accounted for in this area.  You can only make deposits on open contracts or open work orders.

•Miscellaneous expenses.  On the export they’re called “Expense Entries”. Think of these as the posting code table for Misc Expenses. Miscellaneous expenses are created in (5-2).  Gloves used for internal use.  You can expense merchandise or rental items.  The miscellaneous expense code you use is set up in (3-5).  The COST is expensed, not the retail.  If you use this function to “decrease”, whatever GL account is set up in the expense code will be debited.  “Increases” will credit whatever account is set up in the expense code.  The Inventory GL account set up in the posting code associated with either the merchandise or rental item will be credited for decreases, debited for increases.

•Miscellaneous payments.  Misc Pay In and Misc Pay Out items.  See the cash drawer menu for ways to increase and decrease your cash drawer amount other than the typical selling and renting.

 

Please move to the last section for a discussion on what DOESN'T export from FocalPoint.