Course Description

This course goes through day-to-day journal entries then moves into the types of entries that happen in Simply Accounting on a less common basis.  Things like reversing customer receipts, payment cheques and NSF cheque entries are covered.  Other things covered include doing the Bank Reconciliation, the period end process to consider and the GST processing.  The year end process and a recommended reporting process will also be part of the course.

Course Objectives

Ø      Doing journal entries from within all of the journals except the Inventory module will be covered.  There will be a good understanding about each journal and when to use them.

Ø      This course will take a Simply user and allow them to learn the techniques for performing there own troubleshooting and correcting entries before looking for outside help.

Ø      The Linked accounts will be interwoven throughout the class so that people get a better understanding of them and where the accounting entries flow through when processing entries.

Ø The process of Clearing files will be covered so that people will know what they should try to clean up or intentionally carry forward into new accounting periods.

Table of Contents

I  Making Basic Entries

1. The Concept

2. The Session Date

3. Entries in the General Journal

4. Entries in the Receivables Journals

5. Entries in the Purchases Journal

6. Entries in the Payroll Journal

II  Checking Data Integrity

1. What does it Do?

2. Executing the Data Integrity

3. How to fix Integrity problems

III  Printing Reports

1. Financial Reports

2. Session Journal Reports

IV  Bank Reconciliation

1. Performing the Bank Reconciliation

2. Printing the Bank Reconciliation

V  Period End Procedures

1. Period End of the Accounts Payable Ledger

2. Period End for Accounts Receivable

VI  Adjusting & Reversing Entries

1. Activating Invoice History Lookup in Simply

2. The Easy Adjustments

3. Reversing Entries in the Vendors File

4. Reversing Entries in the Customer File

5. Reversing a Payroll Journal Entry

6. Don’t know what GL accounts a journal entry affected

VII  GST Period End Procedures

1. Setting Up for GST

2. GST Period End Procedures

VIII  Year End Entries

1. The End of a Calendar Year:

2. The End of a Fiscal Year:

3. Posting Year End Adjustment Entries

IX  Report Recommendations

X  Clearing Data

1. Figuring out what data to Clear

2. Clearing Journal Entries