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Slide notes: At Accounting Controls, from the Master Files menu, we can select the Company Control Record for updating.




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Slide notes: When we set up a new Company in a Business Datamart, we will always set up this record properly, and we will do so well before we ever allow any Transaction posting, because this Control Record must indicate certain Ledger Accounts that the system must rely on in certain circumstances. If we do not have any Chart of Accounts in place yet, then of course we cannot set up this Record, because we need the Ledger Accounts that we will list here, to already exist.




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Slide notes: However, if necessary, we can just open these specific Accounts that we need and then generate the rest of the Chart of Accounts later.




Slide 6

Slide notes: Whichever sequence we will use, we need to indicate here a primary Discount Allowed and Discount Received Account. These Accounts are not used for Retail Sales, but rather for Journals. It is recommended to check the Help on each of the prompts for a clear indication of what is required.




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Slide notes: The P&L Account is a 1st phase P&L Account that is used by the system for posting closing Journals from P&L Ledger Accounts at Year End. From this Account, one may then transfer the balance to a Retained Profit or other Account, as the case may be.




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Slide notes: The Inventory Suspense and Transfer Accounts are rather similar in the way that the system will use them as double entry Accounts for distinct circumstances, and the Help will reveal more.




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Slide notes: Here is an example of the Help, in this case for the Transfer Suspense Account.




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Slide notes: The Tax Control Account listed here will never be used, or rather, in normal performance of the system, it will never be used, but it is required as a security or failsafe Account.




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Slide notes: We also indicate the Company Name, Registration and Tax Numbers.




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Slide notes: The Tax Rate that we see here is like the Tax Account higher up, and will never be used, but is required for failsafe operation. The real Tax Rates that the system will use, are found on the Tax Type Objects.




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Slide 22

Slide notes: The Number of Annual Depreciation Periods is usually 12, whether or not we use a 13th Period for Accounting purposes.




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Slide notes: The Average Cost Type is usually set to '2' to indicate the use of Goods Received and Goods Invoiced in the calculation of Average Cost on Stock Items.




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Slide notes: And then of course we also list the Company Addresses here, with Telephone and Fax Numbers as applicable.




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Slide 27

Slide notes: The system will always indicate the Last User that has updated this Company Control Record.




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