 
|
 |
| |
| Q: What are Autopost Codes? |
A: This document is written to try to bridge the gap between programmers and accountants. It has been our experience that AUTOPOST codes work well, but the concept was designed by a programmer and doesn't always make the translation to the accountant/bookkeeper's world. This is all due to the fact that DataModes is an on-line, live system and is going to make most journal entries for you. It was therefore necessary to come up with a way to easily make changes without completing a rather complicated matrix.
With a copy of your chart of accounts (preferably already entered into DataModes), make the AUTOPOST decisions based on the following criteria.
1. Which account do you want to debit when you receive cash from customers through the AR Module (AR Invoice Payment Entry)? Which account do you want to credit when you write checks to vendors through the AP Module (Check Printing)? This account will be assigned the AUTOPOST code of CASH## (autopost codes from CASH01-CASH99 are acceptable). If monies from some customers will post to a different cash account, it may be assigned CASH02. If payments to some vendors come from a different cash account, it may be assigned CASH03. You may have up to 99 different cash accounts. These AUTOPOST codes will be entered on the Customer Master and Vendor Master records in Teledex. Since cash accounts are balance sheet accounts, each Cash AUTOPOST code can only be assigned once, in Department 1, of each Division.
2. Which account do you want to debit when goods or services are sold to a customer on account through any of the Invoicing Modules? This account will be assigned the AUTOPOST code of AR01. If certain customers' invoices will be posted to different Accounts Receivable account, that next account would be assigned the AUTOPOST code of AR02. You may have up to 99 different Accounts Receivable Accounts. These AUTOPOST codes will be entered on the Customer Master record in Teledex. Since Accounts Receivable accounts are balance sheet accounts, each Accounts Receivable AUTOPOST code can only be assigned once, in Department 1, of each Division.
3. Which account do you want to credit when you purchase goods or services from a customer on account and enter the bill through the AP Module (AP Voucher Entry)? This account gets the AUTOPOST code of AP01. If certain vendors are posted to a different Accounts Payable account, that account gets the AUTOPOST code of AP02. You may have up to 99 different Accounts Payable Accounts. These AUTOPOST codes will be entered on the Vendor Master in Teledex. Since Accounts Payable accounts are balance sheet accounts, each Accounts Payable AUTOPOST code can only be assigned once, in Department 1, of each Division.
4. Which account do you want to credit when you complete a sale of goods or services through AR Invoicing? This account is assigned the AUTOPOST Code of SALE01. AR Invoicing is normally used for items that are non-stocking or non-inventory items. AR Invoicing has been hard coded to post to SALE01. You are not required to have more than one sale account, however if you are using AR Invoicing and do not want these type of sales mixed in with your "normal" sales, then you will need to create more than one Sales or Income account. Each Sales AUTOPOST code can be used only once in each Department in each Division.
5. Which account do you want to credit (for the net amount) when you complete a sale of goods or services through Sales Order Invoicing or Invoice Processing? This account will get the AUTOPOST Code of SALE01 (please see note above, step 4) or SALE02. If certain sales should post to different sales or income accounts, those accounts will be assigned an AUTOPOST code of SALE02, SALE 03, etc. Up to 99 Sales (or Income) Accounts are allowed. These AUTOPOST codes are entered in the Product Line Master. DataModes posts by product line. Meaning all items in a certain product line will post to the same Sales Account, Cost of Sales Account, and Inventory Account. Each Sales AUTOPOST code can be used only once in each Department in each Department in each Division.
6. DataModes requires you to create an account for the Net Income or Earnings of your company for each accounting period. This account will have the AUTOPOST code of INCOME. It must be a type 800 account. You will never see this account on any of your statements. There will be a Net Income figure for each department on your Income Statements. This is a calculated field, not a value that is saved to the General Ledger. The INCOME account is a temporary holding account for the Current Earnings of the company. Since this is a balance sheet account, only one INCOME AUTOPOST code is allowed in Department 1 of each Division.
7. Which account would you like to credit (for a Net Income) or debit (for a Net Loss) for your Current Earnings (Retained Earnings for the current fiscal year)? This account gets the AUTOPOST code of CURERN. This account is required by DataModes. We suggest you set up both a Current Earnings account and a Retained Earnings account. At the end of the year, please close Current Earnings into Retained Earnings with a Manual Journal Entry. Since this is a balance sheet account, only one CURERN AUTOPOST code in Department 1 of each Division.
|
| Information on the web at: http://www.datamodes.com |
| For more information, contact: tech@datamodes.com |
Back to General Ledger Index Back to Main Index
|
|
|
|
|
