General Ledger Frequently Asked Questions

Introduction

There are a number of Frequently Asked Questions answered here. In order to view the answer(s) you should click on the question and you will be able to review the answer.

Should you have any questions not listed here send us an email and we will review for inclusion.

Why do I see the message:
      "G/L Control LOCKED by {UserName} (port# {n}). Pause 2 secs..."?

All financial transactions, regardless of the source, are posted, as debits and credits in the G/L module. Each G/L posting is issued a unique sequential record key. The sequential key issuer is read and locked during this process, to prevent any conflict with other transaction-creation processes, then the following occurs:

  1. Each transaction debit or credit is created.
  2. The MTD financial transaction totals are updated.
  3. If needed the MTD financial transaction totals are initialized from last month's EOM totals. This may cause the message above because the control record is still locked and initialization takes from 1 to 2 seconds because all G/L account#s are initialized for the client.
  4. The profit/loss and retained earnings are updated.

After these steps are performed the sequential key issuer is updated and unlocked. This process occurs for every financial transaction posted to the Advantos Enterprise application.

Once per month, the beginning of month value is updated for all G/L account#s for the client (the MTD financial transaction totals noted above). This also occurs the first time a posting is created for a new G/L account. For new G/L account#s history is recreated. Because of this an occasional pause occurs on a busy system.

How do I change monthly financial transaction data for a prior month?

A G/L financial totals item exists for each G/L account# for each financial processing month. Each one of these items is updated automatically whenever a financial transaction is created within the Advantos Enterprise application. The amounts for each item are printed on the financial statements for each client.

These financial totals can be accessed by usinging the Advantos Enterprise G/L 12 Month Spreadsheet process. A 12 month snapshot for a client will be loaded into the spreadsheet and allow the user to access and alter prior period financial information.

Naturally, this is a very dangerous process and is restricted to System Administrators only. In addition, even for experienced users great care must be taken to make sure the books don't get out of balance after changes are made. Remember, all debits must equal credits in any set of books.

When does a recurring J/E for cash post?

A recurring J/E posts to G/L during the G/L update. This entry occurs on the date the G/L update is run. So, if you wanted to post a cash entry effective on the 20th of the month, the G/L and the bank account will be physically posted at the date and time the G/L update is run. Therefore, it is impossible to delay bank account postings beyond the date of the G/L update and bank account transactions will not be delayed for any reason.

How do I view financial data for one year?

Either print financial statements to the screen or access the G/L Utilities program 12 Month G/L Data Spreadsheet. This program allows data to be changed by System Administrators, so be very careful using this program.

How do I use actual financial data as Budget template?

When creating a new budget, it is often desireable to load actual data as a template for the next budget period. This has many advantages, least of which is the savings of time associated with loading new information. In order to load actual data, the user simply needs to inform the load process they want the actual data loaded instead of budget data. The data loaded will be the twelve months of data immediately preceeding the beginning monthly period entered. If there is no actual data, for an included financial period, then the periods budget data will be loaded instead. This allows users to create a budget beginning in October in July or August.

What is a consolidated G/L account?

A consolidated G/L account# is where multiple G/L account#s are associated with each other in order that only one line is printed on a consolidated financial statement. An example of this would be if you wanted all utility expenses to be reported on a single utility line on the Income Statement. To do this, a single G/L account# would be created as a container account#, with the description desired to be printed on the financial report, and all other utility account#s would enter this G/L account# into their "Consl Acct# to" field in the Account Maintenance process.

What is a consolidated financial client?

A consolidated financial client is where multiple clients are associated with a primary client for financial reporting purposes. For example, when a consolidated client income statement is prepared all associated clients are consolidated into the primary client#s G/L account#s. This means if the primary client# has a G/L account# 4010 for primary income all associated client#s G/L account# 4010 financial totals are summed up into the primary client#s G/L account# 4010 (a single line item is created with the sum of all associated client#s financial amounts wrapped up into that single lines reporting totals). The primary client#'s G/L account# description is always used. So, be careful to make sure the G/L account#s for all associated clients refer to the same financial category.

In order to associate one client# with a primary client# you should refer to the Setup New Client process. In the Client Maintenance process, please enter the primary client# in the "Consl Mgmt#" field. This is often used when consolidated reporting is required for a controlling homeowners association with sub-associations, a partnership with multiple properties, or a set of books with various clients used as departments.

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