The beginning of accounting refers to the point in time when you start using Procountor for accounting in addition to receiving sales invoices, purchase invoices, bank statements and reference payments.
Once you have saved the information under Management into the program according to the Main user’s starting instructions and sent the banking authorization to your bank, you can begin accounting and creating invoices. You can begin accounting in Procountor either at the start or in the middle of the fiscal year.
Phases of beginning accounting:
- Comparison of the chart of accounts
- Import of salary information from the beginning of the year
- Accounting account balances
- Adjusting accounting entries to zero
- Open accounts ledgers
- Saving the comparison data
- Verifying that accounting was begun successfully
Comparison of the chart of accounts
The chart of accounts in Procountor may differ from the one previously used by your company. Compare the charts of accounts and take account of the following:
- You will no longer require separate accounts for each VAT rate.
- Are all accounts you used earlier needed? Could internal tracking be done using product reporting or dimensions (cost accounting monitoring), for example?
- Create the required sub-accounts in the chart of accounts.
- Take note of automatic postings such as
- 1700 Accounts receivable
- 2880 Payment transaction account
- 2930 VAT liability
- 2920 Employer's contribution liability.
- Salaries only have one account for deferred liabilities, 2950, for all insurance liabilities.
Import of salary information from the beginning of the year
If you started using Procountor in September, for example, you should import the salary information from the beginning of the year per employee in one summary calculation. This is to ensure that the information is correct in the annual salary report, and the report can be sent from Procountor:
Accounting account balances
- If all balances for the periods preceding the beginning of accounting are zero, go to Save comparison data.
- If all balances found for the periods preceding the beginning of accounting are not zero, adjust the accounting entries to zero.
Adjusting accounting entries to zero
If Procountor has been used for purposes such as creating invoices but not for accounting, the automatic accounting entries generated by the receipts must be adjusted to zero before the beginning of actual accounting. For any consolidated salary slips imported from the beginning of the year, the accounts are also adjusted the accounts to zero.
Open accounts ledgers
The sales and purchase ledgers open at the beginning can be saved to the program in two ways: as balances or by invoice.
- Open invoices are entered to the program as balances. In such cases, old trade receivables or trade payables are entered on other accounts than the default accounts used by Procountor (e.g. Old trade receivables).
- Open invoices are entered to Procountor either manually or using the import data function. If using import data, the invoices will be entered to the default accounts.
Saving the comparison data
- Comparison data from the previous fiscal year are saved when you begin using Procountor.
- Save the balances of the day preceding the beginning of accounting You may also import the monthly accounting account balances.
Verifying that accounting was begun successfully
Once you have imported sales and purchase ledger information to Procountor and saved the account balances, please check that the accounts ledger and accounting are equal. Use the Reconciliation report for open invoices found under Accounting> Reconciliation tools for this.