FAQ

Trial balance not tally in YTD(Year To Date)

Issue:

Year To Date DR and CR not balanced in Trial Balance because Retained Earnings account is missing.

Solution:

1. Go to GL | Maintain Account...

2. Restore the Retained Earning Account by drag and drop into Retained Earning group (original).

   

3. Apply the Trial Balance again.

4. Retained Earning Account has restored to Trial Balance, Year To Date DR and CR are now balanced.

How to make the foreign bank account record as USD

Issue:

I cannot key in the foreign bank transactions in USD.

Solution:

Please make sure you have the following add-on modules:

• Multi-Currency (allow to add more currency code, eg. USD, SGD, etc)
• Advance Currency (allow bank account to select foreign currency)

1. Go to Tools | Maintain Payment Method...

2. Edit the Foreign Bank Account.

3. Change the currency to USD.

   

4. The foreign bank account will now be valued in USD. See example in Supplier Payment.

Accumulated Depreciation for Fixed Asset

Record accumulated depreciation for fixed asset

1. GL > Journal Entry > New

2. Key in the double entry for recording accumulated depreciation.

   info

   e.g.: Record the depreciation of motor vehicle in year 2015 Debit Depreciation Expenses RM1000 Credit Accumulated Depreciation of Motor Vehicle RM1000

3. Save

   

For The Next Year

1. GL > Journal Entry. Open the journal entry of depreciation in year 2015.

2. Right click on empty space, refer picture , Copy Journal Entry.

   

3. New

4. Right click on empty space, refer picture, Paste Journal Entry.

5. Edit the journal entry by changing the date, description and amount.

   

6. Save.

Auto Maintain Stock Value with Project Setup

caution

Required SQL Account version 839 and above.

Step 1: Turn on Auto Post GL Stock Value Option

1. Click on Tools.

2. Click on Option.

   

3. Click on Miscellaneous.

4. Tick on Auto Post GL Stock Value.

   

Step 2: Map Balance Sheet Stock Account in Maintain Stock Group

1. Click on Stock.

2. Click on Maintain Stock Group.

   

3. Click on Edit.

4. Choose the Account Code for your Stock Value Posting.

5. Click on Save.

   

   note

   Ensure that all Stock Groups are mapped to the Balance Sheet Account Code (A).

   

Step 3: Map Project Code in Maintain Location

1. Click on Stock.

2. Click on Maintain Location.

   

3. Click on Edit.

4. You can set your stock project for each location.

5. Save.

   

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   Ensure that all Location are mapped to the Project Code (A).

   

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   Note : May ignore this step if you have only 1 Project.

Step 4: Maintain Stock Month End, to show the total Stock Value for default project and P1

Example A

Project Code : ----

Closing Stock : 308534.22

Example B

Project Code : P1

Closing Stock : 3560.00

Step 5: Apply Financial Report will auto update Stock value

note

When you apply Profit & Loss Statement, Balance Sheet or Trial Balance Report, system will automatically retrieve the Stock value from Stock Month End Balance and present it in financial report. Additionally, the system will update closing Stock value to Maintain Stock Value.

1. This is a sample of a Balance Sheet Statement report to show a Closing Stock Value.

   

info

Note : When Fall Outside Maintain Acceptable Trans Date range, the system will no longer retrieve the Stock Value from the Stock Month End Balance and will silently bypass the update.

Auto Post Stock Month End Value Setup

warning

Require SQL Account version 748 & above.

This feature allows the system to automatically post the stock value from Maintain Month End value to GL Maintain Stock Value.

Step 1: Stock > Maintain Stock Group

Step 2: Stock > Print Stock Month End Balance Report

Note :

Required to fill in the Balance Sheet Account in the Stock Group to update GL Stock Value.

Step 3: GL > Maintain Stock Value

Auto Bank Reconciliation Example

Step 1: In SQL General Ledger, go to Bank Reconciliation -> Create New

1. Select the Bank Statement Date.

2. Select the Account.

3. Tick “Show Current Recon Transactions”.

4. Click Apply.

   

5. Click Load Statement.

   

6. Select your Bank Statement (PDF / CSV).

   

7. System loading...

   

8. System will detect the Name of your Bank and prompt message below, Click Yes if it is correct.

   

9. Once you have loaded in your bank statement, bank closing amount will be automatically filled.

   

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   Criteria to Match:

   1. Cheque number + Amount

   2. Description + Amount

10. System will automatically match the transactions with the bank statement and automatically tick them. (yellow highlighted).

But some transactions may not be able to auto match [red box]

Step 2: Step to match on unmatched transactions with bank statement

1. Click on the untick transaction.

   At the bottom, search for SAME DR/CR AMOUNT, you will find that is a “Match” button or few “Match” button…(if there are few same amount, eg. 50.00)

   

2. Click on “Match” when this is the correct bank transactions for [Salary for Ali].

   

   After click “Match”, system will auto tick the transactions and show the date and bank description at Bank Statement (Match) Column

Bank Reconciliation Example

note

For Opening Bank Reconciliation, you may refer this Guide.

A bank reconciliation is a process performed by a company to ensure that the company's records (check register, general ledger account, balance sheet, etc.) are tally with bank's records.

Reconciliation Bank Transaction

GL | Bank Reconciliation

Bank Reconciliation

• Select the Bank Statement Date

• Select the Bank Account, e.g. Hong Leong Bank

• Display Period (normally the date from period will be BLANK, and date to will be same as per Bank Statement Date)

• Check(√) Show Unticked Transaction

• Check(√) Show Current Recon Transaction

• Check (√) Merge Bank Charges

• Click Apply

• You may tick the bank transaction reconcile with the transaction show in Bank Statement and save

  

  

  As attached bank statement is the sample, compare with the transaction, if exist then you may check as sample picture above.

Print Bank Reconciliation Report

After reconciliation done, you can save and preview reconciliation report.

note

You can press F6 button for preview report.

How to Calculate P&L Percentage

note

Formula : Account Amount / Total Sales * 100

Example

How to get A % = 62.1 ?

• Using Sales / Total Sales * 100 = 184,119.49/ 296,502.11 * 100 = 62.1%

How to get C % = 2.5 ?

• Using Purchase / Total Sales * 100 = 7,406.8 / 296,502.11 * 100 = 2.5 %

How to get D % = 95 ?

• Using Gross Profit / Total Sales * 100 = 281,662.21 / 296,502.11 * 100 = 95%

How to get E % = 3.4?

• Using Expenses value / Total Sales * 100= 10,000/296,502.11 * 100 = 3.4%

How to get F % = 91.7 ?

• Using Net Profit / Total Sales * 100 = 271,805.66 /296,502.11 * 100 = 91.7%

info

% will round to nearest 1 Decimal Point.

Foreign Bank Adjustment

1. Go to GL > Foreign Bank Adjustment > Create New > Click Bank Revalue.

   

2. In Revalue windows > Select Bank Account Code & Date.

   

3. Balance USD & local amount are shown as per ledger report.

   

4. Enter the Revalue to currency rate, system will auto recalculate the:

   • New local balance amount
   • Gain/Loss Amount

   

5. Click OK

   

6. System will auto post the double entries

   

7. Click Save

8. Please check the ledger for the adjustment post.

Maintain Budget

Budget Setting

1. Click on General Ledger.

2. Click on Maintain Budget.

   

3. Select the year you want to set the budget.

4. Choose your project code for budgeting, or select 'Non Project' if applicable.

5. Click Edit.

6. Enter monthly budget amounts to update quarterly, half-yearly, and yearly budgets automatically.

7. Enter your budget by account code.

8. Click Save.

   

Profit & Loss Statement with Budget Report

1. This Month vs Month Budget - This Year vs Year Budget.

2. This Month vs Month Budget.

3. This Year vs Last Year Budget.

   This is a sample of a Profit & Loss Statement report comparing. This Month vs. Monthly Budget and This Year vs. Yearly Budget

   A : Month to date Vs Monthly Budget

   B : Year to date Vs Yearly Budget

   

Balance Sheet Statement with Budget Report

1. This Month vs Month Budget - This Year vs Year Budget.

2. This Month vs Month Budget.

3. This Year vs Last Year Budget.

   This is a sample of a Balance Sheet Statement report comparing This Month vs. Monthly Budget and This Year vs. Yearly Budget

   C : Month to date Vs Monthly Budget

   D : Year to date Vs Yearly Budget

   

P&L Statement more than 12 months

1. GL > Print Profit & Loss Statement.

   

2. Right Click on SQL Icon > go 800 x 600 to smaller SQL Screen.

   

3. Click on the report name This Year - 2 Column > click and drag it to desktop.

   

4. Click on the report from desktop and drag it back into SQL.

   

5. After drag in will prompt dialog above > click on OK.

   

6. Double click on the report name This Year - 2 Column (in blue colour font).

   

   1. You can enter a report name.

   2. Change the period class to Fixed Date.

   3. Param 1 : Date From.

      Param 2 : Date To.

   4. Click on OK.

   

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Apply the report as usual, the result will captured based on Param 1 & 2 set.

Repeat the same step on GL > Print Balance Sheet Statement

P&L Statement with Appropriation

1. GL > Maintain Account.

   

   1. Click on Appropriation Account.

   2. Click on New.

      

   3. Insert GL Code and GL Description > After Done Press OK.

2. GL > Journal Entry > Create New.

   

   e.g: Dr Dividend 2,000 Cr Bank 2,000

3. GL > Print P&L Statement.

   1. Select the Date.

   2. Select P&L Report format : This Year – 2 Column.

   3. Apply.

      

   4. Click on Preview.

      

      

General Ledger Report Ref1(DocNo) appear as (New)

When you see General Ledger Report Ref1(DocNo) appears as <<New>>, use the method below to fix it.

How to Fix it

1. Find out the document to check the source for this document.

   

2. Go to Journal Entry, look for the Date 31/03/2015 (Because Ledger Date is 31/03/15).

   

3. Press Edit and Save Button for all the Date is 31/03/2015.

4. After Edit and Save, apply the Ledger to see the result.

   

5. Done.

Trial Balance not tally

If your trial balance is not tally, try running the following checks.

Make sure Retained Earning must have 1 Account code

1. GL > Maintain Account

   

note

If your Retained Earning is empty, you may create under Reserve, then only drag into Retained Earning.

Make Sure Maintain Opening Balance is Tally

1. GL > Maintain Opening Balance.

2. Untick Project at left top.

3. Make sure Local DR and Local CR is tally. (Refer Pic2).

   

Not tally due to current transaction

tip

If the above two steps are correct, it means the current transaction is causing the imbalance. Please follow the steps below.

1. GL > Print Journal of Transaction Listing > Choose the date period which is not tally.

2. Click on Preview.

3. Select report name : GL Journal-of-Transaction-Imbalance-Document.

4. The list show which mean is the document cause not tally.

5. May upload the backup file to us and mention the problem.

Witholding Tax

Go to GL > Maintain Account.

GL Account	Description	Remark
460-XXX	Witholding Tax Payable	Under Current Liabilities

note

GL Account is not compulsory to be the same.

Maintain Withholding Tax

Go to Tools > Maintain Withholding Tax.

1. Click New.

2. Input the following data:

   Field Name	Explanation	Remark
   Code	Set a code	WTH-TAX15
   Description	Describe the meaning/usage of this code	Withholding Tax 15%
   Tax Rate	Witholding Tax Rate	15%
   Tax Account(DR)	Expenses Account	<<Follow document accounts>> if leave blank here
   Tax Account(CR)	Set to Withholding Tax Payable account	At GL\Maintain Account, create the Withholding Tax Payable account under Current Liabilities

   

   note

   Tax Account (DR) leave blank

3. Click on Save.

Withholding Tax Purchase Entry

Available in multiple menus:

Purchase	Supplier
Purchase Invoice	Supplier Invoice
Cash Purchase	Supplier Invoice
Purchase Debit Note	Supplier Debit Note
Purchase Returned	Supplier Credit Note

1. In Purchase Invoice, insert the following columns:

   • WH Local Tax Amt
   • WH Tax
   • WH Tax Rate

   

2. Select the Withholding Tax Code in WH Tax column.

   

3. System will auto post the withholding tax double entry. Press CTRL + O to check the double entry.

   GL Description	Local DR	Local CR
   Expenses Account (follow the document detail GL Account)	XXX
   Withholding Tax Payable		XXX

   

note

The withholding tax amount will not be added to the purchase invoice amount.

Payment of Withholding Tax

1. Go to GL > Cash Book Entry.

2. Create New PV.

3. Enter Payee name.

4. Select bank account to pay.

5. In detail grid, select the GL Account (Withholding Tax Payable).

6. Enter the withholding tax amount to be paid. Save it.

   

7. You can check the ledger report for Withholding Tax Payable outstanding balance.