Fundware® Update
June, 2007
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Advanced Fund
Management Solutions
Hi Everyone,
Page breaking on some reports can provide grouping and sorting capability, also. You’ll want to check this out!
You may not be making monthly depreciation entries, but you can with memorized journal entries. Learn how easy it is in this issue.
Finally, learn how Budget Preparation can post original and revised budgets.
As always, if you have any questions regarding a FundWare® issue, please contact me at
(318) 253-8556, or email me at jgarv@afmss.com
Thanks,
Judy Garver
Recording Monthly Depreciation
If you do not have the Fixed Assets module, yet want to record and report depreciation on a monthly basis, you may want to use this technique. Below, a simple journal entry was entered, and before posting it, it was memorized. It was then posted as the current month’s depreciation. The convenience of using memorized journal entries is that you don’t have to key in the accounts and amounts each month—just post the memorized journal entry. If you have many entries, instead of just one debit and credit as shown, your time savings can be considerable. If the depreciable amounts change on occasion, you may edit the memorized journal entry and post it.
The depreciation expense will appear on your revenue and expense reports like clockwork. For those of you who make depreciation entries only once per year, you can memorize your entries and use them again next year (after suitable editing).
Are there other entries you make on a periodic basis that could be memorized also?
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Posting Original and Revised Budgets
The Budget Preparation module makes it easy to post your budgets as original budget entries or as revised entries. Once you have budgeted your accounts and distributed them into the proper periods (months, quarters or annual), you may post the budget as original or revised. This feature is implemented by allowing you to have two budget journals defined. One posts original budgets, the other revised. This is shown in the final step in budget posting, shown below:
The BJ1 journal posts original budgets, and BJ2 posts revisions. So, how can the fact that Budget Prep can post two types of budgets help you? Once the two types of budgets are posted to the system, Report Manager (and Advanced Financial Reporter) allow you to create reports that place the two types of budgets in their own columns. This satisfies FASB requirements for separate display of original and revised budgets—although you may wish to take advantage of this feature even if you are not subject to FASB reporting.
Ask Judy...
Q We sell items over-the-counter and via the mail. We issue receipts through the Cash Receipts module. Can we get reports for how many items we have sold, for how much, date, etc.?
Harlan
A You are talking about a receipt type report. These are easy to write with the Query function included with Accounts Receivable/Cash Receipts, if you have turned on units in AR/CR setup. Then, you get to select the fields you want in your Query, such as date, customer, item description and cost and quantity. Your query can include filters so you see only what you want. Check with us for help.
Q We do a lot of financial work in spreadsheets and then key the results into General Ledger. This includes depreciation, adjusting entries and allocations. Memorized General Journal entries don’t work well for us because of the constant changes that must be made. Is there an easier way?
Arlo
A With the amount of work you do in spreadsheets, you should consider importing your results. The FundWare Connect product can help you automate almost the entire process of getting numbers off from a spreadsheet and into FundWare. Once setup, it will only take you moments to do the import. The time saved can make the purchase of Connect a good return on your money.
Page Breaking on Reports
Page breaking means start a new page. This applies when one of your reports is printing. This can come in very handy once you understand how to use this FundWare feature. This article shows you how to page break on information, and sort at the same time!
The image shown at the bottom of the page represents a portion of an AP invoice history report. The report places each vendor’s invoice history on a single page if it can. In addition, the total report is sorted by vendor number. Here’s how this happens.
The form below is the one you fill in when you run the report. Reference B has been selected in the “Reference” field, and a range of 1 to * has been entered (the * is a wild card that means any number—1to * will pull all possible vendor numbers). Selecting a reference in this box will automatically sort the entire report by that reference. This means the information on the report will be sorted by vendor number (if you add your own references and use them on your invoices, you could sort by them, too!). This is how you can sort on this report. Page breaking is next.
The cursor arrow in the image to the right is pointing to the “Page break on change” box, which has been checked. This box is linked to the Reference field we just talked about above. In other words, the report will go to a new page when it has listed all of a vendor’s invoices. As a bonus, all of a vendor’s invoices will be shown (grouped) in numerical order!
This page break, sorting and grouping feature is offered in some reports in some modules (look in Payroll, too). This feature is just too good not to try!
Did You Know...?
Security. You may assign an employee to more than one workgroup in order to tailor access for him or her. For example, create a workgroup for AP clerks and attach it to the employee. Then, create a workgroup for Fixed Assets and attach it to her also. Now the employee has access to both modules and can do her job. Workgroups can also be designed to give access to a portion of a module, reports, for example. In this way, you could have multiple workgroups for AP, giving employees only the access they need to do their jobs.
Payroll. During the Payroll calculation process you may generate a number of liabilities to other parties. For example, you may be withholding for credit union deductions, garnishments and pensions, in addition to the standard taxes. All of these withholdings must be paid to various vendors. You can setup Payroll to automatically place an invoice in AP for any, or all, withholdings. All you do then is process them like any other invoices.
Cost Allocation. Multiple allocations can be run sequentially to move money in more than one step. This can be necessary if you need more than one remainder mask for different funds, for example. Check with us.
Links to Other FundWare® Sources
There are several sources of information on the internet that can make your Fund-Ware®
experience more productive and effective. Check out the following sites:
This is Fundware's home page. On it you will find the latest in file fixes and program updates.
In addition, you may search the knowledge base for answers to your support questions.
Check out my site for a complete listing of the products and services I offer.
This site offers a number of products that add an extra measure of functionality to FundWare®.
One of these products may make your life a lot easier.
This site offers a number of free downloads that will help you get more out of Fund-Ware®.
