Clubmaster Software General Ledger

General Ledger

When CLUBMASTER updates transactions such as sales invoices or Accounts Receivable Cash Receipts, an automatic Suspense Journal Entry is made into the General Ledger module. The entry made is a standard accounting entry with a debit and credit to one or many account numbers. The account numbers used by the system are determined by your company's Chart of Accounts and which accounts are placed in a "Control" File.

There are main Control Files and several subsidiary files the system will use to determine a journal entry. The system requires a minimum of at least one of these be entered, and depending on the complexity of your company, you may require all of the Control Files be entered.

The Control Files are: Company Control (Control File Maintenance), Division Control File, and Sales Control Interface File. The Company Control File is the default control file for the entire company and should always be entered. It also contains information pertaining to fiscal years, number of periods in the year, and the current month and batch numbers to use. The Division Control File contains the account numbers to use for each division and the Sales Control File contains the account numbers for posting sales by inventory class and division. If your company does not post journals by division, you do not need to enter the Division Control File. The same is true for the Sales Control File.

Screenshots

The upper and lower navigation of this screenshot are the same for the screenshots listed below, the only differences are the tabs going across and the menu selection listed under each tab. The following are images of the various tabs and menu selections.

Data Entry
File Maintenance Selector

The General Ledger File Maintenance Selector offers data entry and reporting of the master file groups that are to be setup in order to facilitate processing GL accurately. The master files consist of the Master Chart of Accounts Entry, Division and Region control files and other master files that may apply to your business General Ledger.

Misc Journal Updates The General Ledger Individual Suspense Journals Printing and Posting prints by selected Suspense Journal(s), lists all activity for each account within each Suspense Journal and posts the selected Journal(s) to the Journal File. As you may recall, the Suspense Journal is where all your current account transactions are held until you run the Suspense Journals Batch Printing and Posting or this Individual Suspense Journals Batch Printing and Posting to update the entries from Suspense to the General Ledger Journal Files.		Journal Disbursements

Account Redistribution Selector
The Account Redistribution selector offers several options to perform Account Distribution. In the course of setting up your Chart of Accounts and charging out transactions, it often occurs that you do not want to distribute a posting to only one account - that you want two or more accounts to share the distribution on the posting. For example, you may want Sales and Miscellaneous Expense to share in the Telephone postings to Accounts Payable.

Account Redistribution Selector

Inquiries		Reporting The General Ledger Suspense Journals Batch Printing and Posting prints Journal by Journal, lists all activity for each account within each Suspense Journal and posts to the General Ledger Journal File. As you may recall, the Suspense Journal is where all your current account transactions are held until you run the Suspense Journals Batch Printing and Posting to update the entries from Suspense to the General Ledger Journal Files (normally in preparation for opening a new posting period). In usual business practice, you would ask Clubmaster to print the Suspense Report for the month in which you are working, although you do have the option of including all months (which are still in Suspense) in the report.

Period Closing Selector

The Period Closing Selector renders several selections to prepare and complete month and year end processing.

Purge Journal History to Tape

The Purge Journal History To Tape selection allows you to clear out your history file and backup the information on to tape. After you have made adjustments to your journal entries, after you have updated your Budgets for the new year, and after you have completed your Year End Processing, your General Ledger files are still present in your computer in the form of History Files. This selection may be used to clear this data from history.

You may want to clear out your history Files each year. Depending upon the disk storage capacity of your hardware system, you may want to keep several financial years' data in your resident history files. But sooner or later you will want to clear off these files and backup the information on to tape for future use.

Month End Processing

General Ledger Month End Processing should be performed each month. After answering the prompts, the system will move through all your account postings (you will notice numbers quickly scrolling on the screen) and close each one out for the month. When the system is finished processing all your postings will automatically purge your Journal Entries to History.

Year End Processing

Year End Processing will update all General Ledger Journals for the year. Clubmaster will automatically close out the accounting year and post all your journals to History Files. Clubmaster will also automatically zero out any "Expense" transactions. History Files may remain on system or saved to tape for storage.

Before you select this option we have included a Prior Period Year End Journal Posting selection as part of the Year End Processing providing an opportunity to make any additional postings to General Ledger Journals Before you run the year end update. (See Prior Year End Journal Posting)

Financial Statement Reporting The Financial Statement Report selection allows you to print your financial statements. Financial Statements may be selected to print incorporating the following criteria or individually. By Company, Specific Reports, By Region, Posting Month, Fiscal Year, Suspense Preview Statement and Consolidated/Conversion ID.		Financial Statement Inquiries The Financial Statement Selector allows you to create, maintain, inquire, and report on your Financial Statements.

Copy Templates To New Report

The Copy Templates To A New Report selection allows you to copy report templates from one of your existing financial statements and assign it a new report number.

For example, suppose you have a report called BALANCE SHEET (Report #100) which covers Assets and Liabilities and you decide to create a new report called "Liabilities". You could copy this entire report onto a new number and then selectively list and delete the Heading, Detail, and Total lines to essentially create a new report with a new number, such as Report #900.

This is a time-saving feature because once you have created the templates for one report, you can use this selection to create the foundation for other reports. All headings, columns and spacing will be uniform from report to report.

Journal Inquiries		History Reports The Post Journal History For Reporting transaction allows you to post financial information from your journal History File and optional Suspense journals to your Financial Statement Files. The system will prompt for the History data including Company number, Posting Month, Fiscal Year, and Suspense Journals (option).

Financial Statement Selector

The Financial Statement Selector allows you to create, maintain, inquire, and report on your Financial Statements.