The Ledger : Cash Receipts

Itty Bitty Timesavers

Jennifer Maroney — Tue, 17 Nov 2009 12:57:00 GMT

Hey blog readers! I found a great post on The Book Bag that I wanted to share with you. If you've liked The Ledger time savers you must check out the Itty Bitty Timesavers post. It lists some great tips and tricks to save you a few seconds here and there. Remember, a few seconds saved on each task quickly adds up to extra hours and who can't use more hours in their day ?

Talk to you soon!

An Easy Way to Open a Group of Records

Karen Badham — Fri, 28 Aug 2009 17:51:00 GMT

Have you ever had a situation where you need to edit a whole list of records? There are many ways you can do this, from editing each record individually, to global change, to import. But what if what you are trying to accomplish can't be done with global change or import and the task seems too daunting to hunt and peck for each record? Don't despair; there is a tool you can use. I call it Open Query as a List.

Create a query with the proper criteria that fits the list of records you want to edit. On the Results tab double click the top row to open the first record. Once the record is open, make the necessary edits and click Save and Continue. Then use the blue arrows at the top to scroll through each record in the query. This is much easier than searching for each record!

Take a look at the solution, How to scroll through records, for step-by-step instructions.

Five Step Method for Creating the Perfect Query

Kellie Wingfield — Thu, 23 Jul 2009 14:01:00 GMT

Ever wonder, "How am I going to get a list of this information?" Oftentimes, you need to pull data from our system, but how can you? These are the times to look to a query. What is a query? Queries retrieve raw data and present it in a list format. It is a grouping tool, not a reporting tool. A query can also be used in dashboards, exports, searches, global changes; basically in every module of The Financial Edge. I have a five step method for creating the perfect query. These questions help resolve most issues surrounding queries. So what are these magical steps? I am glad you asked!

What kind of records do I need to group together?
This will determine the query TYPE. For example, you can choose Vendor, Invoice, Transaction, or Employee.
Do I want the list to be updated?
This is the format selection between STATIC and DYNAMIC. More information can be found in the Static vs. Dynamic post.
What do my desired records have in common?
This selection is made on the Criteria Tab. Are they Vendors that are all marked 1099? Are they transactions entered on the same date?
What do I want to know about the results?
The answers can be used to determine the fields on the Output Tab. Do I need to see the Vendor name or ID? Do I need to only see the post date or the transaction date?
What order do I need to see the result (or what order do the columns need to be in?)
The answers can be used to determine the fields on the Sort Tab. Do I need Employee Name before Hire date?

Use these five steps as a guide to make the perfect query every time!

Improve Your Data's Quality and Consistency

Jennifer Maroney — Wed, 08 Jul 2009 15:30:00 GMT

A list of procedures and rules can improve your data's consistency and quality, and save you time and effort when entering data, preparing reports, and reconciling. I recommend compiling the procedures and rules to create a policies and procedures manual, also known as a data entry guide. The manual should specify how you enter and maintain records, and perform various functions related to your database. By documenting rules and guidelines, you can ensure consistent data entry. Here are some items to consider for your policies and procedures manual.

Soft close all periods except the current period and the next period. Closing previous periods prevents accidental posting to a closed and balanced period. By closing periods in the future, you prevent inadvertently posting transactions to periods that should not yet be affected.
Use journal codes correctly. Journal codes, also known as source codes, tell you the origin of a transaction. The codes specifically assigned to sub-ledgers should never be used in journal entries and vice versa. In GL Journal Entry, you can define which journal codes are allowed to prevent any errors. Check out BB58058 for the steps.
Create recurring journal entries for your regularly occurring journal entries. These templates allow you to define transactions and/or distributions to use over and over again.
Create distribution templates for commonly used distributions so all you have to do is select the template instead of manually typing in each account number, amount, project, or t-code. Using distribution templates not only prevent data entry errors but also save time, especially if you have detailed distributions.
Use business rules to promote accuracy and consistency. There are a variety of business rules that allow you to determine some things that should or should not be allowed in your database. Some examples include not posting zero dollar amounts, excluding inactive records from searches, allowing non-bank transactions to cash accounts, and automatically assigning record IDs. Each sub-ledger has its own business rules to set. Check out these solutions for some business rule tips: General Ledger | Accounts Receivable | Student Billing | Payroll
Configure security groups to restrict user rights. Carefully consider which users need what rights. For example, not all users should have access to voiding, deleting, or purging transactions. Depending on your organization's size and needs, you may be able to set up just one or two security groups or you may need to set up a separate security group for each user.

Talk to you soon!

Bank Adjustments with Ease

Geoff Sharbrough — Tue, 23 Jun 2009 16:41:00 GMT

Do you need to transfer money from one bank account to another in The Financial Edge? Instead of creating the manual journal entries to the cash account and then having to remember them when reconciling, wouldn't it be nice if FE did this for you? Cash Management is here to save the day!

Cash Management is an optional module that can help streamline processes associated with your banks, such as create bank adjustments, clear transactions electronically, and reconciliation. Since there are already a few blogs out there about bank reconciliation, let's discuss bank adjustments.

You can use bank adjustments to record transactions, such as bank fees or interest, and to transfer funds from one bank to another. Adjustments are created by clicking Create a new adjustment under Cash Management tasks on the Banks page.

When creating an adjustment to record a regular bank fee you can save time by creating an Adjustment Category. When you create the adjustment simply select the category and the fields will default in for you.

Transferring money between banks allows you to record the movement of funds out of one bank account and into another. Click to create a new adjustment under Cash Management Tasks. On the adjustment screen, enter the date, amount, and other appropriate information on the adjustment. In the drop down select Transfer Out and then select the bank account to transfer the money to on the Transfer To field. Once you save and close the adjustment, the balancing adjustment is reflected in both banks.

Want to see if you have Cash Management installed? Check out Knowledgebase solution BB61838 . If you don't have it installed contact your account manager for details.

Static vs. Dynamic: What’s the Difference?

Kellie Wingfield — Mon, 22 Jun 2009 12:16:00 GMT

One of the most common query questions we get has to do with the static and dynamic format. Which should you choose? Let me tell you a story that will explain the difference.

You have two file clerks in the office: Static and Dynamic. You ask them both to find accounts that use account code 5555. Static is the more meticulous of the two, bringing with her a handful of paperclips. She locates the accounts and places a paperclip on each of them. Dynamic just likes the adventure of the task and dives right in. He does not mark each account, but locates them just the same. Both return the same list of accounts. You thank the clerks and they return the files to the file cabinets.

A month goes by and you've added a few more accounts with account code 5555. You ask your willing file clerks to again locate all the accounts with this account code. Static remembers the accounts she pulled earlier and only retrieves the accounts with the paperclips. Dynamic dives right in as usual, but he notices there are more accounts with the account code 5555 than before. This time you get different lists. Dynamic gives you a list of all accounts where Static gives you the same list as before.

The reason? Dynamic will refresh his list with each request so it always includes up-to-date information. On the other hand, Static is more like a snapshot she will always give you the original list. Dynamic queries are the most commonly used type. I would recommend a static query if you always want to capture the same set of accounts, employees, transactions, or vendors.

What a Waste of Paper!

Lisa Lookadoo — Mon, 15 Jun 2009 12:03:00 GMT

"Oh man, I didn’t mean to print that !" Have you ever said that when you validate or post and the report prints? Would you rather see it on your screen instead of wasting paper? Well, you can and it’s easy!

Simply select Tools, Options from the GL menu bar and select the Records tab. Highlight Post Options, change Print Post Report on to Preview Post Report, and click Apply and then OK. That's it, you're done! If you decide you want a printed copy once you view it on the screen, just click the print icon.

Let’s save some trees!

The Ledger Lowdown: Top Questions for May '09

Jennifer Maroney — Tue, 09 Jun 2009 13:39:00 GMT

Each month we keep track of the top questions you ask. This FAQs list includes GL, AP, AR, CR, FA, and general FE questions. To see the FAQs broken out by individual module, review The Financial Edge FAQs on our website. Here are the top FE questions for May and April.

May

Bank Reconciliation shows out of balance to GL Cash Account or vice versa: BB61184
How to import journal entry transactions: BB53174
How to void a posted payment: BB113811
What is Cash Management and how to tell if it is installed?: BB61838
How to add or edit bank adjustments: BB66590
How to set up the queue service to run scheduled queues: BB289850
A reversal transaction does not post for a voided payment: BB219542

April

Bank Reconciliation shows out of balance to GL Cash Account or vice versa: BB61184
How to import journal entry transactions: BB53174
How to void a posted payment: BB113811
How to add or edit bank adjustments: BB66590
What is Cash Management and how to tell if it is installed?: BB61838
How to set up the queue service to run scheduled queues: BB289850
A reversal transaction does not post for a voided payment: BB219542

Talk to you soon!

Is it Okay to Cancel Out of Posting, Copying, or Reversing a Batch?

Jennifer Maroney — Mon, 18 May 2009 11:42:00 GMT

Do you ever notice your workstation task manager shows The Financial Edge is not responding? Just because it shows not responding on your workstation doesn't mean that FE has stopped working. Many times the process is still running on the server. If you cancel the process at the wrong point it could result in data corruption and who wants that?

Pardon the interruption, but this is a great example of why you should regularly back up your database. Check out the Backup and Recovery series on Inside the Edge for more details about the importance of backing up your database and testing it on a regular basis. Now back to you regularly scheduled program.

Here are some helpful tips:

Before initiating the process, disable any applications running unnecessarily, including those running in the background that may be using up system resources.
Post regularly, and assign a specific time of day to complete your posting.
Large batches with complex distributions, attributes, transaction codes, and projects will take longer to process because more information must be validated for each element of the transaction. If you have large distributions, post in smaller batches.
Allow sufficient time for the process to finish.
If you think you have performance issues, check out Knowledgebase solution BB8626 for performance considerations.

So remember, the next time you're posting, copying, or reversing a batch and your workstation's task manager indicates that the software is not responding, wait before you cancel the process.

Talk to you soon!

The Ledger Lowdown: Top Questions for April '09

Jennifer Maroney — Wed, 06 May 2009 17:18:00 GMT

April

Bank Reconciliation shows out of balance to GL Cash Account or vice versa: BB61184
How to import journal entry transactions: BB53174
How to void a posted payment: BB113811
How to add or edit bank adjustments: BB66590
How to reconcile the bank account: BB61838
How to set up the queue service to run scheduled queues: BB289850
A reversal transaction does not post for a voided payment: BB219542

March

Bank Reconciliation shows out of balance to GL Cash Account or vice versa: BB61184
How to reconcile to the General Ledger: BB3358
How to add or edit bank adjustments: BB66590
How to create a bank adjustment from a journal entry: BB71038
How to unvoid or reverse a voided check: BB6275
What is a mock close?: BB22412
How to delete a deposit: BB133943

Talk to you soon!

Detailing Distributions

Karen Badham — Mon, 04 May 2009 14:20:00 GMT

Have you ever needed to distribute to multiple projects? This is something you can easily do in FE for projects, classes, transaction codes, or transaction attributes. I'm going to call these transaction characteristics. Here's how.

On the GL Distribution tab of any record, highlight the applicable distribution line. You'll notice Distribution in white text on the lower gray bar. When you click it there are options of DR Distribution and CR Distribution.

If you select one of the distribution options you can distribute out your transaction characteristics. Please keep in mind you must change this on the DR Distribution and the CR Distribution, or you will be out of balance by the transaction characteristic that you change.

This can be done in virtually any area of the system where GL distributions are entered. Just look for the button called "Distribution".

Knowledge is Half the Battle!

Haley Campbell — Tue, 28 Apr 2009 18:42:00 GMT

Do you ever feel out of the loop? Signing up for Support Newsletters is a great way to stay in touch! A quick scan of each issue can answer common product questions, keep you up to date on Blackbaud closings and alert you to other important information.

FE has three newsletters: The Ledger, Payroll Post and Student Billing Statement. There is also the Financial Management Software Update Notification that lets you know when new versions and patches are available.

All you have to do is click Visit Blackbaud.com under Blog Info, click your name in the upper right corner, and go to Subscriptions. From there, click Update Subscriptions. Mark the checkbox for each newsletter you want to receive, and click Update Subscriptions at the bottom of the page.

It’s that simple. Knowledge is half the battle!