ManEx KB

1. G/L Release/Posting/Closing

1.1. Release and Post to GL

1.1.1. Prerequisites for the Release and Post Module

Prerequisites Required for General Ledger activity:

GL Setup	The account information for the General Ledger must be established in the G/L Account Setup .
Accounting Security	Users MUST have full rights to the "ALL Releases to GL" in Accounting Security to be able to release records. Users MUST have full rights to the "ALL Posting to GL" in Accounting Security to be able to post records. Users with “Accounting Security Supervisor” rights will automatically have access.
Other Setups	Please refer to the additional set ups required as discussed in the Introduction below.

In order for the ManEx General Ledger module to work correctly, all the modules in Accounting Setup must be setup properly, along with the following list of modules in System Setup :

* Sales Type & Price Itemization

* Sales Tax Authority Table

* Warehouse Setup

* Inventory Handling GL Defaults

* Purchase Setup

Inventory Items

For Inventory Items, the Standard Cost must be entered: In Systems with ManEx Accounting installed, the amount entered in the Standard Cost field is used for Cost Accounting functions and is subject to strict change control. If ManEx Accounting is not being used, the field can show actual, target or user defined cost.

Important Note - If accounting is installed: For ALL buy parts, the Standard Cost field MUST have data entered. If this data is missing (or wrong), the Raw Materials Inventory and the Work In Process (WIP) will be incorrect for the accounting records.

Item Master tab – Buy part

·All make parts which are turnkey (not labor only), MUST have data entered in the Standard Cost field. Additionally, the data entered in the Standard Cost field for the make part should equal the sum of the Bill of Materials components. If the sum of the Bill of Materials components does not equal the Standard Cost per the MAKE PART Item Master, a CONFIGURATION VARIANCE will generate. A way to have the system upload these costs automatically is via the Standard Cost Adjustment module.

1.1.2. Introduction for the GL Release and Post Module

Release and Posting Information Overview

ManEx has revised and added new features to the Release and Posting to GL screen that will give the user much more detailed information on screen and flexibility. All transaction can be now released and posted from one screen. It also allows the users more control on how they wish to have the accounting records released/posted per transaction. Also, within the Release/Post Screen, where available user has the ability to drill back to the source in which the Transactions originated from. For Example: Within the Release/Post Sales screen the users will see a link back to the Sales Order and/or Invoice that the transaction originated from. If the user depresses this link the system will then bring them back to that module and record for further review.

Note: This screen is a single user screen, to prevent users from attempting to release/post the same record causing duplicated transactions to be posted to the GL.

There are three options for each of the 17 types of transactions to be released and posted.

1) The current method "Manual Release after Review & Manual Post after Review" This means that the transaction must first be released and then posted as two separate activities.

2) "Auto Release & Manual Post after Review" This means that when the transaction is saved or approved in the originating screen, the transaction is placed in the released tables and only has to go through the posting routine to be posted to the General Ledger.

3) "Immediate Auto Release & Post to G/L without Review" This means that when the transaction is saved or approved in the originating screen it is automatically posted to the General Ledger without having to go through any release or posting screen for review.

Postings To General Ledger are created automatically! For example, when a CUSTOMER INVOICE is printed, the system sets up the Underlying Journal Entry ready to post into the General Ledger.

Three Stage Posting Process:

As designed, the General Ledger presents a 3 stage reporting/posting process to the user.

The first stage updates the aging reports and happens automatically when a Sales Invoice is printed or a Vendor’s Invoice is reconciled or entered directly into the accounts payable system through the use of a Manual Invoice. In this way the current aging status of both A/R and A/P can be known immediately.

The second stage of the process occurs when the user activates the ‘RELEASE TO G/L’ selections. The process creates Underlying Journal Entries for the associated transactions. These Underlying Journals are in turn used in the actual General Ledger update procedure.

The third and final stage of the General Ledger posting procedure is the actual posting to the General Ledger from the Underlying Journals. The posting process updates the tables used to present Balance Sheet and Income Statement information to the user.

Posting means that the transaction is recorded in the GLTRANS table. This information is then used in the GL Reports.

The last process is CLOSING A PERIOD and moving the final closing balance information into the appropriate history files.

Real Time

All of the G/L interfaces are created in a Real Time mode and forward into the various release modules. For example, the instant that the Invoice is printed in the ManEx Administration module, the entry is created and forwards into the Release Sales to General Ledger.

The ManEx general ledger system is designed to give the user the widest range of possible entry options while maintaining compatibility with generally accepted accounting principals.

1.1.3. Fields and Defintions for the Release and Post Module

1.1.3.1. General Ledger Release & Post Screen


Allow Posting to:	This field will display if posting is allowed to: Prior Fiscal Year; Prior Periods; Future Periods. This information defaults in from the G/L Post Defaults module.
Current Period	This field will display the current Fiscal Year, and Accounting Period that the system is working in. This information defaults in from the G/L Post Defaults module
	Depress this button to Release ALL records that have the "Yes" radial selected.
	Depress this button to Post ALL records that have the "Yes" radial selected.
Transaction Description	The types of Transactions contained in the ManEx System.
Earliest Transactions to Reconcile (FY/Period)	This field will display the earliest unreleased or unposted fiscal year and period for the type of transaction.
Release/Post Method	This field will display the default method of posting the transaction type. This information defaults from the G/L Post Defaults module: Manual Rel/Manual Post; Auto Rel/Manual Post; or Auto Rel/Auto Post.
Available to Release	This field will display a “check mark” if there are unreleased transactions for the Fiscal Year and Period selected, otherwise it will be blank. This field will only be displayed if the default method for the transaction type is "Manual Rel/Manual Post".
Uncheck All to Release	This field will only be editable in the "Edit" mode and will default with a "check mark' if there are transactions to release for that type of transaction. User will be allowed to uncheck the box if they do not want to release that type of transaction when depressing the "RELEASE" button at the top of the screen. This field will only be displayed for those transactions that are set for “Manual Rel/Manual Post”.
Click to View & Release	Click on the magnifying glass to view all records waiting to be released, the release screen will appear and user will be able to select and release records within this screen.
Available to Post	This field will display a “check mark” if there are unposted transactions for the Fiscal Year and Period selected, otherwise it will be blank. This field will only be displayed if the default method for the transaction type is "Manual Rel/Manual Post" or AutoRel/Manual Post.
Uncheck All to Post	This field will only be editable in the "Edit" mode and will default with a "check mark' if there are transactions to post for that type of transaction. User will be allowed to uncheck the box if they do not want to post that type of transaction when depressing the "POST" button at the top of the screen. This field will only be displayed for those transactions that are set for “Manual Rel/Manual Post” or Auto Rel/Manual Post.
Click to View and Post	Click on the magnifying glass to view all records waiting to be posted, the post screen will appear and user will be able to select and post records within this screen.

Transaction Types:

General Journal Entries
Sales	The Journal Entry is created once the Customer Invoice is printed. Accounts Receivable is increased by the total amount of the invoice. Sales are increased by the sales price of the items sold. If freight is charged to the customer, that value is recorded. If sales taxes are charged to the customer, the appropriate entry is created. Also, Finished Goods inventory is relieved and the accompanying entry to Cost of Goods Sold is created. If the user has created a Credit Memo, the entry to record same is created automatically, pro-rata relieving Accounts Receivable, Sales, etc. AND also Reinstating Inventory for any usable inventory returned by their customer. Any Unusable Inventory returned can be directed to the Scrap Account. The system also accepts General Credit Memos, and creates the entry after prompting the user for the appropriate General Ledger Account Number.
Deposit Receipt	Once any Bank Deposit is recorded in the ManEx Accounts Receivable module, the Underlying Journal Entry is created, increasing the bank balance and offsetting Accounts Receivable. If the Cash Receipt is for a Customer Prepayment or Deposit, the Journal Entry records the information according to the default set up by the user. Also, any Miscellaneous Receipt prompts the user for the General Ledger Account Number at the time of data entry, then the ManEx system creates the entire entry.
A/R Write-Offs	The user elects to Write Off any portion of the Customer Invoice, the ManEx system creates the appropriate Journal Entry, reversing pro-rata the entry to Accounts Receivable and sets up the offset to Reserve For Bad Debts.
Credit Memos	If the user has created a Credit Memo, the entry to record same is created automatically, pro-rata relieving Accounts Receivable, Sales, etc. AND also Reinstating Inventory for any usable inventory returned by their customer. Any Unusable Inventory returned can be directed to the Scrap Account. The system also accepts General Credit Memos, and creates the entry after prompting the user for the appropriate General Ledger Account Number.
Purchasing	ManEx handles payables created via the Purchase Order module, any Miscellaneous Payables entered via the Manual A/P Entry, or a Recurring Payable in the same fashion. Once the PAYABLE is recorded in the A/P Aging area, the entries to record the payables are set up. The entry increases inventory, expenses, assets and accounts payable.
Un-Reconciled Receipts	When an inventory item is received into stock a transaction is created within the un-reconciled receipts (according to its standard cost) (this is the holder to account for received material) until the receipts are reconciled.
Checking	Once Account Payable Checks have been printed, the ManEx system automatically records the appropriate Journal Entry relieving the bank and the Accounts Payable account.ManEx provides the same type of Journal Entry if a Manual Check is recorded.The entry relieves the bank and increases the appropriate General Ledger Account Number entered by the user at the time of recording. If the user has voided any previously printed or Manual Checks, the ManEx system automatically reverses the original entry
Debit Memos	If the user has created a Debit Memo against any Active A/P Balances, the entry to reverse the payable is created automatically, pro-rata reversing the original payable.Additionally, when the user creates a Discrepant Material Return from Inventory, a Debit Memo will forward to Accounts Payable. The applicable entry will be created debiting Accounts Payable and crediting Raw Materials Inventory.
Inventory Receiving	An entry is created at the time the user Records a Receipt via the Inventory handling function. Raw Materials Inventory is increased with the offset as defined by the user. The other way these entries are created is when the assembled product is moved to the Finished Goods work center in the Shop Floor Tracking module. The entry created by the system is to increase Finished Goods Inventory, with the offset to Work In Process. If there was a Configuration Variance (see below) this entry is also created.
Inventory Issues	There are four types of inventory issues: An entry is created at the time the user records an Issue via the Inventory Handling function. Raw Materials Inventory is decreased with the offset as defined by the user. The other way these entries are created is when the raw material components are pulled for a Work Order. The Entry created by the system is to increase Work In Process Inventory, with the offset to Raw Materials Inventory. When a Physical Inventory is reconciled, the user may update the Inventory Master for the Inventory On Hand. Note that this action requires a supervisor’s password or specific Post Inventory Adjustments authorization in the Security Utility tab. All of the Reconciled Count Numbers will update the Quantity On Hand in the Inventory Master.Additionally, the requisite Journal Entires for any variances will forward into the accounting module. Note that Journal Entries will not be created in the following circumstances: Consigned stock In Store additions
Inventory Transfers	If, when a Cycle Count is reconciled with the Inventory Records, the count is different than the record, then the user is prompted whether to accept the difference or to recount and re-enter. Count Adjustments are logged to the GL Adjustment Account, if accounting is used.
Purchase Variance	When parts are procured, the purchase order may have a price different than the standard cost. To balance the accounts payable values with the increases in inventory, the difference between the standard cost and the purchase price (based on the PO Reconciliation done in Accounting with the actual invoice) is charged to PPV, or Purchase Priced Variance. E.G., if a parts standard cost is $1.00, and the INVOICE is $1.15, then $1.00 is credited to inventory, $0.15 is credited to PPV, and $1.15 is debited to AP. There are FIVE reports available that detail out the source of the transactions. For more information on the four Variances see Article #3053
Configuration Variance	When the standard cost of an assembly is different from the sum of the standard costs of its components, the difference must also be addressed in WIP. E.G., if the standard cost of an assembly is $10.00, and the sum of the standard cost of the BOM components is $11.00, then upon moving the assembly from WIP to FGI, WIP is credited with $11.00, Configuration Variance is Debited $1.00 and Inventory is debited $10.00. There are FOUR reports available that detail out the source of the transactions. For more information on the four Variances see Article #3053
Manufacturing Variance	When the work order has had material kitted to it in addition to that called out by the BOM, or the kit is finished with missing parts (maybe freebies that didn’t get to inventory), the difference between the total issued to the work order and the total value of the BOM parts becomes the Manufacturing Variance. E.G. one batch of parts got lost even though they were kitted to the work order, and a second batch of parts was issued to the work order, the second batch would be a manufacturing variance, since they were lost in the manufacturing process. There are FOUR reports available that detail out the source of the transactions. For more information on the four Variances see Article #3053
Scrap	At the end of the production process, items transferring into the Scrap Work Center create an accounting entry increasing the scrap default account and decreasing WIP for the value of the number of units of the assembly at the assembly’s Standard Cost. Additionally, when an Engineering Change Order deletes a line item and that line item is defined as “SCRAP”, an entry increasing scrap and decreasing Raw Materials Inventory is generated. Within Inventory Handling, the Entry created is to record the movement of Inventory from one warehouse location to another increasing or decreasing General Ledger accounts as defined by the user.
Cost Adjustments	This entry is created in the Standard Cost Adjustment Module. Once the rollup is completed, any adjustments to General Ledger forward to Accounting. The user is allowed to Post Changes to Standard Cost and to generate the General Ledger Entries. Note: This requires a high level accounting password.
Other Costs	Includes Labor, Overhead, User Defined, and Other Costs
Accts Receivable Prepay	These transactions are for an A/R Offset.
NSF Checks	If checks previously deposited are returned, the entry to reinstate any Accounts Receivable balance and to lower the appropriate bank account is created automatically when the user records a returned check.
Rounding Variance	If there is a small percentage assigned to run scrap, and the components are in units of Each, we can't issue fractions of a component to the work order. So we would round up to the next integer. For example, if there is a qty of 1 part per assembly (with a 2% run scrap) @ $1.00/ea and the Work Order is for a quantity of 10 we would issue 11 parts @ a total of $11.00 instead of 10.2 parts @ a total of $10.20. So we would be adding the value $11.00 to WIP, but only taking out the quivalent value of $10.20 based on the BOM standard cost. So the difference between the std cost calculation and the actual kit issuance (in the example, $0.80) would be charged to the Rounding Variance upon kit close. For more information on the four Variances see Article #3053
Accts Payable Prepay	These transactions are for an A/P Offset.

1.1.3.2. Release Screen

(Note: The screens may vary in appearance by the type of transaction but basically contain the same information). There will be two grids, the grid on the left will display the Transaction information and the grid on the right will display the detail of the transaction. The data can be sorted in various ways by clicking on the column headers that are in bold font. Some types of transactions will allow users to drill back to the source in which the transactions originated from, such as Purchase Order, Sales Order, Work Order, etc.

All transactions are checked to be released by default. Once you have selected the records to be released, Depress the "Release Selected Records to GL". The records selected to be released will be removed from the release screen and the records not selected to be released will stay on screen. This button is only available when this screen is in the "Edit" mode.

Date Range Filter

Beginning Date	The Beginning Date is automatically set to the oldest transaction. Changing these dates filters the selection so that only those transactions within the date range are displayed.
Ending Date	The Ending Date is automatically set to the current date. Changing these dates filters the selection so that only those transactions within the date range are displayed.
	User can select a date range filter to display only those transactions within a given period of time, by entering different Beginning Date and/or Ending Date and depressing the "Display Records" button.

Transaction Date	This field gives you the ability to change the transaction dates for all of the transactions. This field is only available when this screen is in the "Edit" mode.
	Depress this button to update the records with the new Transaction date. This button is only available when this screen is in the "Edit" mode.

Transactions

	User can select the records to be released by using the toggle button to "Deselect All/Select All" . This button is only available when this screen is in the "Edit" mode.
	User can select the records to be released by using the toggle button to "Deselect Rst/Select Rest" .This button is only available when this screen is in the "Edit" mode.
Release	All transactions are checked to be released by default. User will need to depress the Edit button and uncheck this box to prevent the record from being released. If the box is unchecked the record will remain on screen and not be released at this time.
Trans Dt	This displays the date of the transaction. User may change this date if desired.
Transaction Type	This displays the type of transaction.
Display Value	This field displays the Customer Name and Invoice Number, PO number, Sales Order number, etc (depending on the type of transaction being release) for the record waiting to be released.
Click to Drill Down	Clicking on the magnifying glass next to the transaction will bring you back to original record.

Detail - This section breaks out the transaction that is going to be created.

GL Number	This field displays the GL numbers that the transaction is going to affect.
Description	This field displays the description for the current item selected in the left grid. Depending on the type of transaction being released.
Debit	This field displays the amount that is going to be debited. Depending on the type of transaction being released.
Credit	This field displays the amount that is going to be credited. Depending on the type of transaction being released.

1.1.3.3. Post Screen

(Note: The screens may vary in appearance by the type of transaction but basically contain the same information). The transactions that have been released and waiting to be posted will appear in the first (left) grid. The data can be sorted in various ways by clicking on the column headers that are in bold font. Some types of transactions will allow users to drill back to the source in which the transactions originated from, such as Purchase Order, Sales Order, Work Order, etc. The detail of each transaction will be displayed in the second (right) grid with the GL number and the Debits and Credits.

Once you have selected the records to be posted, Depress the "Post Selected Records to GL". The records selected to be posted will be removed from the post screen and the records not selected to be posted will stay on screen. This button is only available when this screen is in the "Edit" mode.

Date Range Filter

Beginning Date	The Beginning Date is automatically set to the oldest transaction. Changing these dates filters the selection so that only those transactions within the date range are displayed
Ending Date	The Ending Date is automatically set to the current date. Changing these dates filters the selection so that only those transactions within the date range are displayed.
	User can select a date range filter to display only those transactions within a given period of time, by entering different Beginning Date and/or Ending Date and depressing the "Display Records" button.

Transaction Date	This field gives you the ability to change the transaction dates for all of the transactions. This field is only available when this screen is in the "Edit" mode.
	Depress this button to update the records with the new Transaction date. This button is only available when this screen is in the "Edit" mode.

Transactions

	User can select the records to be posted by using the toggle button to "Deselect All/Select All" . This button is only available when this screen is in the "Edit" mode.
	User can select the records to be posted by using the toggle button to "Deselect Rst/Select Rest" .This button is only available when this screen is in the "Edit" mode
Post	All transactions are checked to be Posted by default. User will need to depress the Edit button and uncheck this box to prevent the record from being Posted. If the box is unchecked the record will remain on screen and not be Posted at this time.
Trans Dt	This displays the date of the transaction. User may change this date if desired.
Transaction Type	This field displays the type of transaction.
Display Value	This field may display the Customer name, Invoice number, Receiving number, etc. Depending on the type of transaction being posted.
Click to Drill Down	Clicking on the magnifying glass next to the transaction will bring up the original record (SO, INV, PO, etc) Depending on the type of transaction being posted.

Detail

GL Number	This field display the GL number for the current item selected in the left screen. Depending on the type of transaction being posted.
Description	This field display the GL description for the current item selected in the left screen. Depending on the type of transaction being posted.
Debit	This field display the debit amount for the current item selected in the left screen. Depending on the type of transaction being posted.
Credit	This field display the credit amount for the current item selected in the left screen. Depending on the type of transaction being posted.

1.1.4. How To ...... for the Release and Post to GL

1.1.4.1. Release & Post Information to G/L

Enter Manex.exe

Accounting/General Ledger/G/L Release/Posting/Closing/Release & Post to General Ledger

The General Ledger Release & Post screen will appear: Transactions to be Released will be displayed with checkboxes in the "Available to Release" column.

There are two different ways to Release records.

User can Release several transactions at once by depressing the "RELEASE" button at the top of the screen and this will release all the transactions selected.

Or User can release transactions individually by clicking on one of the magnifying glass buttons under the Click to Release Transactions and the following Release screen will appear: (Note: The screens may vary in appearance by the type of transaction but basically contain the same information). There will be two grids, the first grid on the left will display the transaction info and the second grid on the right will display the detail of the transactions. The data can be sorted in various ways by clicking on the column headers that are in bold font. Some types of transactions allow drill down to the originial form such as Purchase Order, Sales Order, Work Order, etc. User can select a date range filter to display only those transactions within a given period of time, by entering different Beginning Date and/or Ending Date and depressing the "Display Records" button.

To release transactions, select the transactions by checking the box to the left of the first grid or depress the "Select All" toggle buttons to "Select/Deselect the transactions to release.

One you have selected the records to be released, Depress the "Release Selected Records to GL". The records selected to be released will be removed from the release screen and the records not selected to be released will stay on screen. Transactions to be Posted will be displayed with checkboxes under the "Available to Post" coulmn.

Click on one of the magnifying glasses under the "Click to view and post" and the following Posting screen will appear: (Note: The screens may vary in appearance by the type of transaction but basically contain the same information). The transactions that have been released and waiting to be posted to the general ledger will appear in the first (left) grid. The data can be sorted in various ways by clicking on the column headers that are in bold font. Some types of transactions allow drill down to the originial form such as Invoice No, Purchase Order, Sales Order, Work Order, etc. The detail of each transaction will be displayed in the second (right) grid with the GL number and the Debits and Credits. User can select a date range filter to display only those transactions within a given period of time, by entering different Beginning Date and/or Ending Date and depressing the "Display Records" button. Transactions that cannot be posted because of restrictions for past or future period posting will be shaded in RED.

Select the files to be posted by checking the box under the "Post" column or depressing the "Select All" toggle buttons to Select/Deselect transactions to be posted.

One you have selected the records to be posted, Depress the "Post Selected Records to GL". The records not selected to be posted will stay on screen, the records selected to be posted will be removed from the post screen and will create a Transaction record as the one displayed below:

1.1.5. Reports-Variance

Accounting/General Ledger/G/L Releas/Posting/Closing/Release & Post to General Ledger

For more information on the three Variances see Article #3053

The following screen will appear:

To obtain the Variance Reports depress the Print button and a List of Variance Reports will appear:

Select the output you desire by clicking on the radial.Choose from Screen, Printer, XL File, TXT File, or PDF.

Highlight the report of interest.

Depress the option tab.

Configuration Variance Detail Report by Work Order No for all Transactions or Configuration Variance Detail Report by Part No for all Transactions

To clear the dates, check the Clear Selection box. Enter the desired date range From and To.

Depress the OK button.