Configuration Buttons for User-Administrators

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Define Your Organization

User or Administrator configuration of Financials begins with defining your company as follows. You can create your company as a Party Group in the Party Manager and then associate a Role of "Internal Organization" (INTERNAL_ORGANIZATIO) with it.

* Click: Parties & Users > Party > [Create New] > Create New Party Group 
* Fill in the form with your company name and other optional information and Click: [Save]
* Click: [Roles], and select "Internal Organization" in the drop down box.
* Click: [Add]

The Accounting Preferences page opens if the organization is newly defined, otherwise navigate to this page as follows:

* From the Main Navigation screen, click: Party Admin Icon, the "Find Parties" screen opens
* Enter the Party ID you are configuring, and Click: [Lookup Party]
* In the "Search Results" box Click: the "Party ID" you want if the party Profile page 
does not open immediately.  (When you search on a Party ID string with more than one version 
defined, the Search Results box will open first, instead of the Profile page.)
* On the Profile page for the Organization you selected, Click: [Financial Accounts] button, 
the Accounting Manager Application page opens.
* Mouse over the [Accounting Manager Application] drop down label, and from the drop down box, 
Click: [Organization GL Settings]
* The "Available Internal Organizations page opens listing all of the organizations currently 
defined within the Party ID you selected. Find the organization you want to edit in the 
"Companies" column and then Click: [Setup] button.
*  The "Accounting Preferences" page opens. Now you can edit the available entries and then 
Click [Update] when finished, to record the changes.

For a newly created organization, you can configure the following accounting preferences for your company: (Make sure you choose the correct option. This cannot be changed by the Users.)

   * Tax form of choice, for example U.S. IRS form 1120S.
   * Cost of Goods Sold (COGS) method: LIFO, FIFO, or average cost. COGS method 
   should be consistent with the inventory reservation method of the product stores 
   associated with this party.
   * Base currency for your business accounting system. 
   * Read the following Warning, next. Don't click Update yet. 
Once configured, the User screens do not allow you to change these accounting practices.  
If you’ve made a mistake your ADMIN can use [Web Tools] > [Entity Data Maintenance] to correct it.  
Users should not attempt to use [Web Tools] which are an advanced tool set.
   * Configure any other preferenced, then Click: [Update] to Save.

Ledger Configuration

User or Administrator configuration for Financials is located as follows, Click: Financials > Configure and the page opens to display shortcut buttons and the Chart of Accounts listing for your company.


  • [Chart Of Accounts]

In this page you can view the chart of accounts, access each one of them, and you can edit (update), add sub-accounts, or deactivate an account if it is not being used.

[Add New Account] actually does two things: it will create a new GL account and then associate with the current organization’s chart of accounts. The screen will prompt you for account code, account name, account class, account type, description, parent GL account, and initial balance. The account code will be used as the glAccountId as well. The resource type for GL accounts created this way will always be “MONEY.”

If you click on [Add Sub Account], you will be taken to the add new account form with the original account as the parent account and its fields pre-populated in the form.

[Edit] is for updating an account. It allows you to change all its fields, including some which are not available when you first create the account. Note that a change here will change this GL account for all units of your organization that are using it. (That is, all units with which it is associated).

Deactivate an account first checks that this account is not associated with any payment methods, payment types, invoice types, or GL account type defaults. If none of these are associated with this account, it will be marked expired on the organization’s chart of accounts. You cannot activate it again later.

  • [Configure Ledger]

When the system posts ledger entries, it will map business transactions such as an invoice to a particular set of pre-configured GL accounts via an "account type" configured for your company. Thus, you can change how the ledger is posted by changing the "account type" for your company using the Financials > [Configure Ledger] screen. For more information on the behavior of transactions and ledger posting see this section, Transactions and Postings.

  • [Payment Methods]

You can assign GL accounts corresponding to the payment methods of your own organization, that you have previously set up using Party Manager.

To set up payment methods for your company, Click: Parties & Users > Party > look down the page for the "Payment Method Information" box. Use the buttons to create payment methods, [Create New Credit Card] etc. Once the setup is completed the payment method can be selected in the ledger configuration screen.

Click: Financials > [Payment Methods] > look down the page to the "Add Payment Methods. . ."
Select the Payment Method Type, the GL Account, and add other information desired.
Click: Add
Continue adding payment methods required for your business.
  • [Time Periods]

To configure your company's Accounting Time Periods you should at least define fiscal years. If, however, you need to configure fiscal quarters and months as well, make sure that you also configure the full set of them to match all your fiscal years. Partial definition of the periods is not adequate.

For example, if there is a fiscal year end, when you define quarters there must be a concurrent quarter end date defined. Thus, the following configuration IS INCORRECT:

   * Fiscal years ending 2008-01-01, 2009-01-01
   * fiscal quarters ending 2008-04-01, 2008-07-01, 2008-10-01, 2009-01-01 

You must also have a fiscal quarter which ends on 2008-01-01 to be consistent with your fiscal years.

  • [View Configuration]

This is a view only screen which displays the organization accounting preferences that are entered in the second section of this page.

This concludes the provisions for configuration using the Financials User screens. In the next section we discuss advanced configuration which can be performed by specialists.

Manual pages >> Configuration for Accounting Specialists with TECH Help

Section pages >> Facilities Setup: Stores, Warehouses, Shipping