Magaya Software Accounting Manual

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3. ACCOUNTING WIZARD ACCOUNTING WIZARD OVERVIEW 3. Accounting Wizard Accounting Wizard Overview The Accounting Wizard is designed to help you enter your company's accounting information into the Magaya system. This is an easy way to enter the beginning balances for accounts, customers, and vendors as of the date you start using the Magaya system. Setting up this information is usually done when Magaya software is first installed. If this wizard was not used then, it can be used now or at any time. It is recommended that you use this accounting wizard and the Startup Wizard. It is especially important if you will be working in more than one currency that you select the home currency to match the currency of your country in the Startup Wizard; home currency will affect tax transactions. The Startup Wizard is explained in the Magaya Cargo System Operations Manual. The Accounting Wizard helps you set up your: • Chart of Accounts (also called the general ledger) • Items and Services • Opening balances of your customers and vendors Each screen in the wizard contains instructions to help you work through the wizard. You can go forward and back in the screens to change information. When you finish the wizard, all the information is saved in your Magaya system. Additional setup of accounting related options can be done in the Maintenance > Configuration menu. See Chapter 10 of the Magaya Software Accounting Manual. 11
ENTER INFORMATION IN THE ACCOUNTING WIZARD Enter Information in the Accounting Wizard Go to the File menu and select “Accounting Wizard”. The Welcome screen opens: Click the "Next" button to start the wizard. Select the month that you want to assign as the beginning of your fiscal year. This is required to calculate earnings for the year. The system will use this month to automatically close the year. On the Chart of Accounts screen, add or edit accounts as needed. (The software provides a default list of accounts. It is recommended that this information be entered in the wizard so you can use the accounting features in the Magaya software.) Also enter opening balances for accounts that you need such as petty cash and bank. (For more details on entering opening balances, see the section "Enter Opening Balances".) 12
Page 1 and 2: MagayaSoftware AccountingManual Gui
Page 3 and 4: 7. Accounts Payable . . . . . . . .
Page 6 and 7: 1. HOW TO USE THIS MANUAL INTRODUCT
Page 8 and 9: 2. Magaya Accounting System Overvie
Page 10 and 11: ACCOUNTING FOLDER OVERVIEW - Add Bi
Page 14 and 15: ENTER INFORMATION IN THE ACCOUNTING
Page 16 and 17: ENTERING OPENING BALANCES ENTER INF
Page 18 and 19: ENTERING OPENING BALANCES ENTER INF
Page 20 and 21: 4. CHART OF ACCOUNTS INTRODUCTION 4
Page 22 and 23: ADD TO THE CHART OF ACCOUNTS • Ex
Page 24 and 25: CONFIGURE DEFAULT ACCOUNTS is usefu
Page 26 and 27: 5. ITEMS AND SERVICES INTRODUCTION
Page 28 and 29: ADD ITEMS AND SERVICES • Other Fr
Page 30 and 31: ACTIONS PERFORMED WITH ITEMS AND SE
Page 32 and 33: 6. ACCOUNTS RECEIVABLE INTRODUCTION
Page 34 and 35: CREATE INVOICES will be visible to
Page 36 and 37: CREATE INVOICES • Add Charges: Cl
Page 38 and 39: CREATE INVOICES 3) Click OK when yo
Page 40 and 41: ACTIONS FOR INVOICES The following
Page 42 and 43: ACTIONS FOR INVOICES • Approve/Di
Page 44 and 45: IMPORT INVOICES • Date of the tra
Page 46 and 47: PRINT INVOICES TO A FISCAL PRINTER
Page 48 and 49: CREDIT MEMOS Credit Memos Credit Me
Page 50 and 51: ENTER PAYMENTS Enter Payments A Pay
Page 52 and 53: ENTER PAYMENTS • The A/R Account
Page 54 and 55: ENTER PAYMENTS time per invoice. Th
Page 56 and 57: ACTIONS FOR PAYMENTS Actions for Pa
Page 58 and 59: CUSTOMER PAYMENT TERMS Note: Only u
Page 60 and 61: CUSTOMER PAYMENT TERMS 2) Click the
Page 62 and 63:
DEPOSITING PAYMENTS Click on the Ad
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ACTIONS FOR DEPOSITS The payment is
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REFUND CHECK for this check. This s
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7. ACCOUNTS PAYABLE INTRODUCTION TO
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CREATE BILLS account available in t
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ACTIONS FOR BILLS When you access t
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BILL CREDITS When you purchase a fi
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BILL PAYMENTS Bill Payments To pay
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PAY MULTIPLE VENDORS Pay Multiple V
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PAY MULTIPLE VENDORS In the next sc
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VENDOR REFUNDS A dialog box opens.
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8. BANKING INTRODUCTION TO BANKING
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WRITING CHECKS • The date is fill
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WRITING CHECKS Pay Sales Tax: Use t
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ACTIONS FOR CHECKS check fields suc
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ACTIONS FOR CHECKS • Void a check
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MAKING DEPOSITS • History: View r
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MAKING DEPOSITS • Click on a line
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BANK RECONCILIATION If you click th
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BANK RECONCILIATION To view transac
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BANK RECONCILIATION menu. Right-cli
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9. ACCOUNTING REPORTS INTRODUCTION
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OVERVIEW OF ACCOUNTING REPORTS A di
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CUSTOMIZE REPORTS Customize Reports
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CUSTOMIZE REPORTS You can change th
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PROFIT & LOSS REPORT This is an exa
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COMPARATIVE PROFIT & LOSS REPORTS T
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COMPARATIVE PROFIT & LOSS REPORTS 4
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SHIPMENT P&L REPORT • The detaile
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BALANCE SHEET The following is an e
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BALANCE SHEET A detailed Balance Sh
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SALES REPORTS • The Investing sec
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SALES REPORTS Compare Sales: The sa
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PURCHASE REPORTS Purchase Reports P
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PURCHASE REPORTS Reports by Carrier
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PROFIT REPORTS OVERVIEW Profit Repo
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CUSTOMER PROFIT REPORTS Customer Pr
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AGENT PROFIT REPORT Agent Profit Re
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MULTICURRENCY REPORTS Daily Journal
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10. ADVANCED ACCOUNTING FEATURES 10
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ACCOUNTING CONFIGURATION MAIN ACCOU
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ACCOUNTING CONFIGURATION MAIN ACCOU
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ACCOUNTING CONFIGURATION COST CONFI
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ACCOUNTING CONFIGURATION ACCOUNTING
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ACCOUNTING CONFIGURATION MISCELLANE
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AVERAGE COST CONFIGURE AVERAGE COST
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AVERAGE COST ADDITIONAL CONFIGURATI
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AVERAGE COST SPECIFIC IDENTIFICATIO
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LANDED COST MANAGEMENT CONFIGURE YO
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SALES TAXES INTRODUCTION TO SALES T
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SALES TAXES STEPS: ADD A SALES TAX
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APPROVE/DISPUTE INVOICES APPROVE/DI
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JOURNAL ENTRIES STEPS: CREATE A JOU
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ADJUSTMENTS • Reverse a journal e
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MULTIPLE CURRENCIES HOW TO SET UP M
Page 172 and 173:
Page 174 and 175:
Page 176 and 177:
MULTIPLE CURRENCIES MULTICURRENCY R
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RELATIONSHIP BETWEEN ACCOUNTING & O
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ACCOUNTS RECEIVABLE SPECIAL PROCEDU
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Index A Accounting and Operations r
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open invoices 125 sales tax liabili
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