Magaya Software Accounting Manual

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ADJUSTMENTS • Reverse a journal entry (useful when changing credits by debits and vice versa) • Display total of debits and credits in the screen of the journal entry • Set up consecutive numbers for journal entries in the Maintenance > Configuration > Accounting menu • Select the template when printing a journal entry To view more details about a journal entry, select it and click the “Detail” button. Adjustments The Adjustments tab reflects transactions that keep your accounts in balance. The information on the Adjustments tab is Read Only. It also shows the cost of inventory (asset), and then when you sell it, the sale will show in the Adjustments tab as a deduction from the assets and it is converted to the cost of goods sold. For example, when you purchase an item for your inventory, you create a PO. From that PO, you create a Bill. When a customer purchases that item, you create a SO and an Invoice for the customer. The cost and income will show on the Adjustments tab of the invoice. Another use of the Adjustments tab is to show adjusted gains and losses for currency exchanges. If you are using multiple currencies, you will see the difference between the rate on the day your created the invoice and the rate on the day the customer paid the invoice. When you receive the payment and update the 167
MULTIPLE CURRENCIES HOW TO SET UP MULTICURRENCIES IN YOUR MAGAYA SYSTEM exchange rate in the Payment dialog box, the Adjustment tab will show the difference in rates. When you change the rate in the dialog box, the system will ask you if you want to save the change (so it will be reflected for all transactions using that currency that you create after this one). If you add an adjustment to an accounting transaction on the Accounts tab of a transaction dialog box, it will appear on the “Adjustments” tab of that transaction such as the invoice dialog box. This one shows the bank fee for a NSF: Multiple Currencies How to Set up Multicurrencies in your Magaya System This section will explain how to set up your Magaya system to work with multiple currencies, how to activate existing currencies from the Currency List 168
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MagayaSoftware AccountingManual Gui
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7. Accounts Payable . . . . . . . .
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1. HOW TO USE THIS MANUAL INTRODUCT
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2. Magaya Accounting System Overvie
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ACCOUNTING FOLDER OVERVIEW - Add Bi
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3. ACCOUNTING WIZARD ACCOUNTING WIZ
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ENTER INFORMATION IN THE ACCOUNTING
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ENTERING OPENING BALANCES ENTER INF
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ENTERING OPENING BALANCES ENTER INF
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4. CHART OF ACCOUNTS INTRODUCTION 4
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ADD TO THE CHART OF ACCOUNTS • Ex
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CONFIGURE DEFAULT ACCOUNTS is usefu
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5. ITEMS AND SERVICES INTRODUCTION
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ADD ITEMS AND SERVICES • Other Fr
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ACTIONS PERFORMED WITH ITEMS AND SE
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6. ACCOUNTS RECEIVABLE INTRODUCTION
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CREATE INVOICES will be visible to
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CREATE INVOICES • Add Charges: Cl
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CREATE INVOICES 3) Click OK when yo
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ACTIONS FOR INVOICES The following
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ACTIONS FOR INVOICES • Approve/Di
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IMPORT INVOICES • Date of the tra
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PRINT INVOICES TO A FISCAL PRINTER
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CREDIT MEMOS Credit Memos Credit Me
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ENTER PAYMENTS Enter Payments A Pay
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ENTER PAYMENTS • The A/R Account
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ENTER PAYMENTS time per invoice. Th
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ACTIONS FOR PAYMENTS Actions for Pa
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CUSTOMER PAYMENT TERMS Note: Only u
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CUSTOMER PAYMENT TERMS 2) Click the
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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
Page 118 and 119: SHIPMENT P&L REPORT • The detaile
Page 120 and 121: BALANCE SHEET The following is an e
Page 122 and 123: BALANCE SHEET A detailed Balance Sh
Page 124 and 125: SALES REPORTS • The Investing sec
Page 126 and 127: SALES REPORTS Compare Sales: The sa
Page 128 and 129: PURCHASE REPORTS Purchase Reports P
Page 130 and 131: PURCHASE REPORTS Reports by Carrier
Page 132 and 133: PROFIT REPORTS OVERVIEW Profit Repo
Page 134 and 135: CUSTOMER PROFIT REPORTS Customer Pr
Page 136 and 137: AGENT PROFIT REPORT Agent Profit Re
Page 138 and 139: MULTICURRENCY REPORTS Daily Journal
Page 140 and 141: 10. ADVANCED ACCOUNTING FEATURES 10
Page 142 and 143: ACCOUNTING CONFIGURATION MAIN ACCOU
Page 144 and 145: ACCOUNTING CONFIGURATION MAIN ACCOU
Page 146 and 147: ACCOUNTING CONFIGURATION COST CONFI
Page 148 and 149: ACCOUNTING CONFIGURATION ACCOUNTING
Page 150 and 151: ACCOUNTING CONFIGURATION MISCELLANE
Page 152 and 153: AVERAGE COST CONFIGURE AVERAGE COST
Page 154 and 155: AVERAGE COST ADDITIONAL CONFIGURATI
Page 156 and 157: AVERAGE COST SPECIFIC IDENTIFICATIO
Page 158 and 159: LANDED COST MANAGEMENT CONFIGURE YO
Page 160 and 161: SALES TAXES INTRODUCTION TO SALES T
Page 162 and 163: SALES TAXES STEPS: ADD A SALES TAX
Page 164 and 165: APPROVE/DISPUTE INVOICES APPROVE/DI
Page 166 and 167: JOURNAL ENTRIES STEPS: CREATE A JOU
Page 170 and 171: MULTIPLE CURRENCIES HOW TO SET UP M
Page 176 and 177: MULTIPLE CURRENCIES MULTICURRENCY R
Page 178 and 179: RELATIONSHIP BETWEEN ACCOUNTING & O
Page 180 and 181: ACCOUNTS RECEIVABLE SPECIAL PROCEDU
Page 188 and 189: Index A Accounting and Operations r
Page 190: open invoices 125 sales tax liabili
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