Purpose
This routine is used to maintain various Control File General Ledger Chart of Account codes needed for the running of Online Advantage. These Control Pointers relate to the accounting postings that Online Advantage performs on the users behalf, without the need for the user to nominate one or both sides of the accounting entry.
Any posting that comes from a subsidiary ledger to the General Ledger is referred to as a “Control Account” posting. The idea with a control account is that you can look at the value in the subsidiary ledger and compare it to the balance in the General Ledger. They are supposed to match, since every transaction that affects the subsidiary ledger is reflected in the GL balance.
Some examples of control accounts are:
Debtors Ledger – the Outstanding Balance on a Debtors Aged Trial Balance and on Debtors Ledger reports should match the “Receivables Balance” control account in the General Ledger
Creditors Ledger – the Outstanding Balance on a Creditors Aged Trial Balance and Creditors Ledger reports should match the “Payables Balance” liability control account in the General Ledger
Stock Ledger – the Stock Valuation and Stock Ledger Report totals should match the appropriate Current Assets account(s) in the Balance Sheet
The Bank Ledger is another example where a control account is used. Since these control account postings are automatic – the subsidiary ledger and GL should remain in balance. However, if you post manually to a control account, this negates the subsidiary system.
Data Input
Step 1 – Default Branch And Division
Branch Code
Enter the code of the Branch which is to be used as the default branch code during accounting entries. The code that you enter here is only used where the branch code has not been already determined and for the most part will not be used.
Division Code
Enter the code of the Division which is to be used as the default division code during accounting entries. The code that you enter here is only used where the division code has not been already determined and for the most part will not be used.
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Step 2 – Account Details
The Control Pointer accounts are presented in a fixed list. You cannot add new accounts to the list. Enter a GL chart of account code against each control account, and (where required) a branch and division.
The following table gives you a list of each control account and how it is used within Online Advantage.
| Control Account | Account Only? | Explanation |
| Profit & Loss Clearing | No | This is the default account used to display the current year Profit/Loss for Balance Sheet reporting purposes. It is the accumulation of Profit and Loss account balances |
| Bank (Default) | No | This is the default Bank account used for Bank account control postings. This account is used only if no bank account details can be found against the Bank a transaction is recorded against |
| Asset Revaluation Reserve | Yes | This is the default account used during Asset Revaluation for the posting of the Revaluation Amount |
| Trade Creditors (Local) | No | This is the default account used for posting to Creditors Control Account when the transaction processed will be reflected in the Creditors Ledger and the Creditor is not defined as a ‘Foreign Supplier’. It should be noted that additional Control Posting Dissection is available at a Supplier Level using Supplier Types. This Control Account can be reconciled to the Creditors Ledger Summary Report |
| Trade Creditors (Foreign) | No | This is the default account used for posting to Creditors Control Account when the transaction processed will be reflected in the Creditors Ledger and the Creditor is defined as a ‘Foreign Supplier’. It should be noted that additional Control Posting Dissection is available at a Supplier Level using Supplier Types. This Control Account can be reconciled to the Creditors Ledger Summary Report |
| P&L on Currency Variations (Creditors) | No | This is the default account used to post Currency Variation values on Creditor transactions. A variation posting is calculated when the foreign exchange (fx) rate changes on an outstanding ledger transaction, and also when a payment transaction is processed at a different rate to the original transaction fx rate |
| Discounts Taken | No | This is the default account used to post the value of any discounts taken during creditors payment processing. This can include the payment of Invoices, Returns and also Manual Payments |
| Tax (Creditors) | No | This is the default account used for the posting of tax values entered during the processing of Creditors Transactions. This includes Invoices, Returns and Manual Payments transactions |
| Cheque Refund Accruals | No | This is the default account used during the processing of Customer Refunds. When processing a Customer Refund the system performs 2 transactions simultaneously. A Cash Payment and a Debtors Journal. The system requires a clearing account to complete this transaction and the account listed here is used as that clearing account |
| Purchase Accruals | No | This is the default account used for posting to the Purchase Accruals Control Account when the transaction processed will be reflected in the Accrual Ledger. Transactions where this account are used typically include the receipt of a Shipment and the Posting of Creditors Invoices to Shipments. The balance of these transactions make up the Purchase Accrual Ledger. This Control Account can be reconciled to the Accrual Ledger Report |
| Transfer Accruals (In Transit) | No | This is the default account used for the Accrual Value posted when a Transfer Sales Order is invoiced and the order is placed ‘In Transit’ waiting receipt by the Receiving Location. It reflects the ‘In Transit’ Value of the stock on those orders. This Control Account can be reconciled to the Transfer Accruals (Intransit) Ledger |
| Job Costing Work in Progress | No | This is the default account used for the Control account posting of Job Costing Work in Progress. This account can be reconciled to the Job Ledger Report |
| Stock On Hand (Default) | Yes | This is the default account used for posting to the Stock on Hand Control Account when the transaction processed will be reflected in the Stock Ledger. This Control Account can be reconciled to the Stock Ledger Summary of Stock on Hand. Typically this account is not used as the appropriate account recorded against the Product Group for any products transactions is used for the posting |
| Stock In Store (Default) | Yes | This is the default account used for posting to the Stock in Store Control Account when the transaction processed will be reflected in the Stock In Store Ledger. Stock in Store is a status in Inventory that allows the user to receipt a quantity of product on a shipment without finalising the costs on the Shipemnt. This Control Account can be reconciled to the Stock Ledger Summary of Stock In Store |
| Stock In Store (Sundry) | Yes | This is the default account used for posting to the Stock in Store Control Account when the transaction processed is a Sundry purchase transaction and will be reflected in the Sundry In Store Ledger. Sundry In Store is a status in Purchase Accruals system that allows the user to receipt a quantity of a sundry item on a shipment without finalizing the costs of the Shipment. This Control Account can be reconciled to the Stock Ledger Summary of Stock In Store (Sundry) |
| Stock In Transit (Pur) (Default) | Yes | This is the default account used for the Accrual Value posted during the ‘Shipping’ of a Purchase Order. It reflects the ‘In Transit’ Value of Shipments with Inventory product on them. The balance of this account should be reconciled to the Purchase Accruals (Intransit) Ledger |
| Stock In Transit (Pur Sundry) | Yes | This is the default account used for the Accrual Value posted during the ‘Shipping’ of a Purchase Order. It reflects the ‘In Transit’ Value of Shipments with Sundry items on them. The balance of this account should be reconciled to the Purchase Accruals (Intransit) Sundry Ledger |
| Manufacturing WIP (Default) | Yes | This is the default account used for the posting of Work in Progress from the Manufacturing system. This account can be reconciled to the WIP Ledger Report |
| Sales – Domestic (Default) | Yes | This is the default sales account for Domestic sales (i.e. non-export and non-inter Company sales). This account is used if there is no sales account recorded base on Customer Type, and no domestic Sales account can be found against the product group. Sales are defined as ‘Domestic’ sales if the customer’s client type code is not = “E” for Export or “I” for Inter-company |
| Sales – Export (Default) | Yes | This is the default sales account for Exports. This account is used if there is no sales account recorded base on Customer Type and no export sales account can be found against the product group. Sales are defined as ‘Export’ sales if the customer’s client type code is = “E” |
| Sales – Inter-co (Default) | Yes | This is the default sales account for Inter Company sales. This account is used if there is no sales account recorded base on Customer Type and no sales account can be found against the product group. Sales are defined as ‘Inter-company’ sales if the customer’s client type code is = “I” |
| Cost Of Sales – Matls (Default) | Yes | This is the default Cost of Sales account used for the posting of the Material Component of Cost relating to Sales. This account is used if no Cost of Sales – Materials account can be found against the product group. All Costs are considered ‘Materals’ unless a manufacturing specification exists for a product. Where a Manufacturing Specification exists the business is given the option to separate the Cost of Sales according to the Cost Components of Materials, Labour, Overheads and Charges. If this separation is not required the same posting account can be used for all Cost of Sales Control Pointers |
| Cost Of Sales – Labour (Default) | Yes | This is the default Cost of Sales account used for the posting of the Labour Component of Cost relating to Sales. This account is used if no Cost of Sales – Labour account can be found against the product group. All Costs are considered ‘Materials’ unless a manufacturing specification exists for a product. Where a Manufacturing Specification exists the business is given the option to separate the Cost of Sales according to the Cost Components of Materials, Labour, Overheads and Charges. If this separation is not required the same posting account can be used for all Cost of Sales Control Pointers |
| Cost Of Sales – O/Chrg (Default) | Yes | This is the default Cost of Sales account used for the posting of the Other Charges Component of Cost relating to Sales. This account is used if no Cost of Sales – O/Charges account can be found against the product group. All Costs are considered ‘Materials’ unless a manufacturing specification exists for a product. Where a Manufacturing Specification exists the business is given the option to separate the Cost of Sales according to the Cost Components of Materials, Labour, Overheads and Charges. If this separation is not required the same posting account can be used for all Cost of Sales Control Pointers |
| Cost Of Sales – O/Head (Default) | Yes | This is the default Cost of Sales account used for the posting of the Overhead Component of Cost relating to Sales. This account is used if no Cost of Sales – Overhead account can be found against the product group. All Costs are considered ‘Materials’ unless a manufacturing specification exists for a product. Where a Manufacturing Specification exists the business is given the option to separate the Cost of Sales according to the Cost Components of Materials, Labour, Overheads and Charges. If this separation is not required the same posting account can be used for all Cost of Sales Control Pointers |
| Cost Of Samples (Default) | Yes | This Control Pointer is used by the Order Management module to post the value for a line item entered on a Sales Order and ultimately Invoiced where the Sample Flag is set on a line item within the invoice. A dissection of the postings resulting from these transactions can be seen on the Debtors Invoice and Credit Note Registers. |
| Stock Auto Value Adjs(Default) | Yes | This is the default account used by Purchase and Inventory receipting programs to post the difference between the chosen cost and average cost where Replacement and Standard Costing methods are chosen. This account is used as the default when no Stock Auto Value Adjustments account can be found against the product group |
| Stock Take Adjs(Default) | Yes | This is the default account used by the Stock take programs to post variances resulting from the Finalization of a Stock take. This account is used when no Stock Take Adjustments account can be found against the product group |
| Stock Values Adjs(Default) | Yes | This is the default account used by the Stock Value Adjustment and Cost and Price Changes programs to post revaluation amounts. This account is used when no Stock Values Adjustments account can be found against the product group |
| Inter-Bch Value(Default) | Yes | This is the default sales account for Transfer sales (i.e. Inter-Branch sales). This account is used when no Inter-Branch Value account can be found against the product group |
| Inter-Bch Cost-Matls(Default) | Yes | This is the default Cost of Sales account used for the posting of the Material Component of Cost relating to Transfer Sales. This account is used when no Inter-Branch Cost-Materials account can be found against the product group. All Costs are considered ‘Materials’ unless a manufacturing specification exists for a product. Where a Manufacturing Specification exists the business is given the option to separate the Cost of Sales according to the Cost Components of Materials, Labour, Overheads and Charges. If this separation is not required the same posting account can be used for all Cost of Sales Control Pointers |
| Inter-Bch Cost-Labour(Default) | Yes | This is the default Cost of Sales account used for the posting of the Labour Component of Cost relating to Transfer Sales. This account is used when no Inter-Branch Cost-Labour account can be found against the product group. All Costs are considered ‘Materials’ unless a manufacturing specification exists for a product. Where a Manufacturing Specification exists the business is given the option to separate the Cost of Sales according to the Cost Components of Materials, Labour, Overheads and Charges. If this separation is not required the same posting account can be used for all Cost of Sales Control Pointers |
| Inter-Bch Cost-Other(Default) | Yes | This is the default Cost of Sales account used for the posting of the Other Charges Component of Cost relating to Transfer Sales. This account is used when no Inter-Branch Cost-Other account can be found against the product group. All Costs are considered ‘Materials’ unless a manufacturing specification exists for a product. Where a Manufacturing Specification exists the business is given the option to separate the Cost of Sales according to the Cost Components of Materials, Labour, Overheads and Charges. If this separation is not required the same posting account can be used for all Cost of Sales Control Pointers |
| Inter-Bch Cost-O/head(Default) | Yes | This is the default Cost of Sales account used for the posting of the Overhead Component of Cost relating to Transfer Sales. This account is used when no Inter-Branch Cost-O’head account can be found against the product group. All Costs are considered ‘Materials’ unless a manufacturing specification exists for a product. Where a Manufacturing Specification exists the business is given the option to separate the Cost of Sales according to the Cost Components of Materials, Labour, Overheads and Charges. If this separation is not required the same posting account can be used for all Cost of Sales Control Pointers |
| Mfg Production Varnce (Default) | Yes | This is the Default Manufacturing Production Variance account used for the posting of Manufacturing Production Variances generated by the Manufacturing System. This account is used when no Manufacturing Production Variance account can be found against the product group |
| Mfg Recovery – Matls (Default) | Yes | This is the Default Mfg Recovery – Materials account used for the posting of Manufacturing Material Recoveries generated by the Manufacturing System. This account is used when no Mfg Recovery – Materials account can be found against the product group |
| Mfg Recovery – Labour (Default) | Yes | This is the Default Mfg Recovery – Labour account used for the posting of Manufacturing Labour Recoveries generated by the Manufacturing System. This account is used when no Mfg Recovery – Labour account can be found against the product group |
| Mfg Recovery – Other (Default) | Yes | This is the Default Mfg Recovery – Other account used for the posting of Manufacturing Other Charges Recoveries generated by the Manufacturing System. This account is used when no Mfg Recovery – Other account can be found against the product group |
| Mfg Recovery – O/Head (Default) | Yes | This is the Default Mfg Recovery – O/Head account used for the posting of Manufacturing Overhead Recoveries generated by the Manufacturing System. This account is used when no Mfg Recovery – O/Head account can be found against the product group |
| Opening Stock (Default) | Yes | This Control Pointer is no longer used. |
| Purchases (Default) | Yes | This Control Pointer is no longer used. |
| Transfer Profit (Default) | Yes | This Control Pointer is no longer used. |
| Job Costs (Default) | Yes | This Control Pointer is no longer used. |
| Closing Stock (Default) | Yes | This Control Pointer is no longer used. |
| Trade Debtors – Domestic | Yes | This is the default account used for posting to Debtors Control Account when the transaction processed will be reflected in the Debtors Ledger and the Debtor is tagged with a Customer Type containing this account as the Trade Debtors Account. It should be noted that additional Control Posting Dissection is available at a Customer Level using Customer Types. This Control Account can be reconciled to the Debtors Aged Trial Balance Report |
| Trade Debtors – Export | Yes | This is the default account used for posting to Debtors Control Account when the transaction processed will be reflected in the Debtors Ledger and the Debtor is tagged with a Customer Type containing this account as the Trade Debtors Account. It should be noted that additional Control Posting Dissection is available at a Customer Level using Customer Types. This Control Account can be reconciled to the Debtors Aged Trial Balance Report |
| Trade Debtors – Inter-co | Yes | This is the default account used for posting to Debtors Control Account when the transaction processed will be reflected in the Debtors Ledger and the Debtor is tagged with a Customer Type containing this account as the Trade Debtors Account. It should be noted that additional Control Posting Dissection is available at a Customer Level using Customer Types. This Control Account can be reconciled to the Debtors Aged Trial Balance Report |
| Trade Debtors – Retentions | Yes | This Control Pointer is specifically used by the Cash Receipts program to re-classify Debtor Ledger amounts as ‘Retentions’. These ledger values can be reconciled using the Debtors Aged Trial Balance Report |
| Discount Allowed | No | This is the default account used to post any Discounts allowed during processing the of Cash Receipts from customers with transactions on the Debtors Ledger |
| Tax (Debtors) | No | This is the default account used for the posting of tax values entered during the processing of Debtors Transactions. These can include Invoices and Credit Notes/Returns as well as Sundry Cash Receipts |
| P&L on Currency – domestic (Debtors) | Yes | This is the default account used to post Currency Variation values on ‘Domestic’ Debtor transactions. A variation posting is calculated when the foreign exchange (fx) rate changes on an outstanding ledger transaction, and also when a payment receipt is processing at a different rate to the original transaction fx rate |
| P&L on Currency – export (Debtors) | Yes | This is the default account used to post Currency Variation values on ‘Export’ Debtor transactions |
| P&L on Currency – inter-co (Debtors) | Yes | This is the default account used to post Currency Variation values on ‘Inter-Company’ Debtor transactions |
| P&L on Currency – retentions (Debtors) | Yes | This is the default account used to post Currency Variation values on outstanding Debtor retention transactions when they are re-valued based on changes in the fx rate |
| P&L on Currency for purchase accruals | No | This is the default account used to post Currency Variation values on Purchase Accrual outstanding transactions when they are re-valued based on changes in the fx rate |
| Laybys / Special Orders Cancellation Fees | Yes | This is the default account used by the Point of Sale System to post Laybys and Special Orders Cancellation Fees |
| Gift Certificate Liability | Yes | This is the default account used by the Point of Sale System to post the entries for Gift Certificate Sales and Redemptions |
| Deposit Liabilities | Yes | This is the default account used by the Point of Sale system to post entries relating to the recording of Deposits held against outstanding Laybys |
| Bank Clearing | Yes | This account is used to temporarily hold the balance of Inter-bank Transfers amounts when money is transferred from one bank account to another. |
Account
Select the chart of account code to be used as the control account for postings to General Ledger (GL).
Branch
Select the branch code to be used in combination with the chart of account for control postings to GL.
Division
Select the division code to be used in combination with the chart of account for control postings to GL.
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