OfficeMate Home Office User's Guide - OfficeMate Software Solutions

Chapter 14 Using the General Ledger Interface
Setting Up the General Ledger Interface
Select a financial group from the Financial Report Group drop-down menu.
Note
If you want to assign general ledger accounts to inactive financial
groups, select the Include Removed Groups check boxes.
Select a general ledger account from the drop-down menus for each account
type in the Sales Accounts group.
Note
The drop-down menus that are highlighted in yellow are required.
This Account…
Sales
Returns
Discounts
Represents…
The total of the selling price for each product
sold. The account is credited for the sales amount
of each product sold. If a discount account is not
selected, the Sale is credited net of discounts.
The total selling price for each product returned
as a fee slip adjustment. The account is debited
for the sales amount of the returned items. The
return is debited net of discounts.
The total amount of discounts applied to sales
items. The amount include package discounts,
discounts and insurance discounts before and
after allotments. The exported entry is a debit to
the Discount account and a credit to the Gross
Sales account. If the field is left blank, the entry is
a credit to the Sales account, which is the gross
amount less the discounts.
Select a general ledger account from the drop-down menus for each account
type in the Inventory Accounts groups.
Note
The drop-down menus that are highlighted in yellow are required.
This Account…
Inventory
Represents…
The total value of on-hand inventory for all
products in the Financial Report group. This
accounts gets debited whenever on-hand quantity
gets increased (e.g., purchase order receipt) and
credited whenever on-hand quantity is decreased
(e.g., sold on a Fee Slip). This inventory amount
will be based on the inventory valuation method
specified in the G/L Setup tab. For more
information about inventory valuation methods,
go to Understanding Inventory Valuation
Methods on page 718.
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