Setup/ Setting Up Company

1.0. Company Setup

This document outlines essential company setup procedures within the software, covering company information entry (address, contact details, financial settings like accounting currency and default accounts, and GST registration), financial period management (setting and locking periods), document running number formatting (customizing sequence numbers for quotations and other documents), and configuring document defaults (setting standard terms, conditions, and payment modes for receipts and payments).

Entering Company Information


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STEPS:
  1. Click SETUP activity
  2. Click COMPANY DETAILS
  3. Click COMPANY module
  4. Click EDIT 
    1. This is to edit the company information
  5. ADDRESS
  6. TEL
  7. FAX
  8. EMAIL
  9. WEBSITE
  10. COMPANY REGISTRATION NO. 
    1. You may enter your company details here
  11. ACCOUTING CURRENCY 
    1. This is the base currency that the accounting General Ledger is work on.
    2. Unless you have special approval from the authority, it should be in Singapore Dollars
  12. OPENING ADJUSTMENT ACCOUNT 
    1. CLI6000 Opening Adjustment is the default current liability account.
    2. The system will adjust and post any unbalanced opening entries to this account.
    3. Unless necessary, you do not need to change this default account.
    4. Note that the only possibility for you to make an unbalanced entry is during your opening balance entry.
  13. EXCHANGE GAIN/(LOSS) ACCOUNT 
    1. EXP1200 Exchange (Gain)/Loss is the default expense account.
    2. For users that have multi-currency transactions, the system will automatically calculate the difference in exchange values of the transaction and adjust it to this account.
    3. Unless necessary, you do not need to change this default account.
  14. GST REGISTERED
  15. GST CURRENCY
  16. GST REGISTRATION NO. 
    1. If your company is GST registered, you tick on it and enter the relevant information.
    2. If you are not a GST registered company, but may do so in future, please note that you should only tick on the check box on the exact day your company is officially registered.

Setting Financial Periods & Locking Accounting Data



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STEPS:
  1. Click SETUP activity
  2. Click ACCOUNTs
  3. Click A/C Setting module
  4. Click EDIT 
    1. This is to open and set the Accounting Registration in edit mode.
  5. ACCOUNTING LOCK PERIOD 
    1. This is to lock the data. Addition or changes to the transaction dated before this set date will be disallowed.
    2. E.g. If you have closed your account for 31st Mar 16 accounting, you should set the date to 31st Mar 16.
  6. LOCK TYPE 
    1. For basic user, it is recommended that you use CANNOT EDIT LOCK PERIOD TRANSACTION.
    2. This is the default lock type.
  7. RETAINING EARNING ACCOUNTING (FOR YEAR END CLOSING) 
    1. OEQ0001 Accumulated Profit & Loss is the default Owner Equity account.
    2. When you do your financial year end closing, the system will adjust your profit or loss to this balance sheet account for carrying forward to the next financial year.
    3. Unless necessary, you do not need to change this default account.
  8. ACCOUNTING PERIOD 
    1. You should set START and END dates as the period for your financial year. Note that you can set multiple financial periods and concurrently work on them without closing.
    2. Under Status, you can see that there is Open, Finalising & Close.
    3. Open is the current the financial period you are working on.
    4. Finalising is set when you are doing your financial year end closing. This setting is required as it is linked to Year End Closing Module.
    5. Close is set when you have completed closing your financial year.
    6. Note that you can re-open a closed Financial Period to re- work on it.
  9. Click SAVE
  10. Close the module

Formatting Document Running Numbers



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STEPS:
  1. Click SETUP activity
  2. Click COMPANY DETAILS
  3. Click Running No. module
  4. Select QUOTATION
  5. Click EDIT 
    1. This is to open Quotation Running No. Registration to edit mode.
  6. TYPE 
    1. This is the document type. In this example you are working on the Quotation running number, hence it should be set to Quotation.
  7. NAME 
    1. Give a meaningful name to this running number series; otherwise you can leave it as default.
      1. To understand further, see article Multiple Running Number Setup.
  8. FORMAT 
    1. Format is the system Formula of the running number. Formula is within square brackets [ and ]
    2. Anything outside these square brackets is ignored.
    3. Formula:
    4. [0000] = 4 digits running nos.
    5. [000000] = 6 digits running nos.
    6. [YY] = display year in 2 digits, e.g. 11
    7. [YYYY] = display year in 4 digits e.g. 2011
    8. [MM] = display month in 2 digits, e.g. 08
    9. [DD] = display date in 2 digits, e.g. 31
    10. [UU] = display User ID in 2 digits, e.g. SJ
      1. Note Alpha formula must be in Caps
      2. To see if you have set the formulae correctly, see EXAMPLE field below NEXT NUMBER.
  9. NEXT NUMBER 
    1. You can enter your next running number for the system to run here.
    2. If you are starting a fresh series, set this to 1.
  10. EXAMPLE 
    1. This will display the number that you set.
    2. You should not see any ‘[‘ or ‘]’ if you have set your formula correctly.
  11. RESET 
    1. Auto-Reset No. to One
    2. Note formula must have [YY] to reset on yearly basis
    3. To reset on monthly basis, you must have [MM] along with [YY]/[YYYY]. Otherwise, you’ll generate duplicate numbers which the system does not allow.
  12. Click UPDATE
    1. This is to save your changes.
  13. Close the module 

Configuring Document Defaults

Setting Quotation Standard Terms & Conditions




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STEPS:
  1. Click SETUP activity
  2. Click COMPANY DETAILS
  3. Click DEFAULT SETTING module
  4. Click EDIT 
    1. Default can act something like a template.
    2. Every time you create a new Quotation all the settings here will be copied over.
  5. REFERENCE
  6. SUBJECT
  7. REFERENCE 1
  8. REFERENCE 2
  9. REFERENCE 3
  10. REFERENCE 4
  11. REFERENCE 5 
    1. Anything you type here will appear in new quotation that you create.
    2. Note that default settings can still be changed when you are issuing the quotation.
      1. To understand the uses of Reference 1-5 see article Properties Tab
  12. TITLE This is the title of the documents.
    1. You may change it example, ORDER CONFIRMATION. It will then appear as the Document’s title for the newly created document.
    2. Note that this does not affect past issued quotations.
  13. CONTRACT BY DEFAULT
  14. APPROVED BY DEFAULT
  15. CLOSE BY DEFAULT
  16. IMPORT TO INVOICE BY DEFAULT
    1. To understand their uses, see page 43 - 3.1.1.3 Understanding Contract, Approved, Close & Import to Invoice
  17. REMARK enter This Quotation is Valid for 14 days only. 
    1. This remark will then appear at every new quotation you create.
    2. Note that this does not affect past issued quotations.
  18. CHECK SIMILAR REFERENCE 
    1. To understand the use see page 89 - 6.1.1.2 What is Check Similar Reference
  19. Click SAVE
    1. This is to save your changes.
  20. Close the module 

Changing Default Payment Mode For Receipt & Payment Voucher



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STEPS:
  1. ​​Click SETUP activity
  2. Click COMPANY details
  3. Click DEFAULT SETTING module
  4. Click EDIT
  5. Click RECEIPT tab
  6. MODE Click the dropdown box to change to the required one. 
    1. You can change your default bank for receiving funds here.
    2. Note that default settings can still be changed when you are issuing the Receipt.
      1. To understand on how to use Mode, see article Payment Mode Setup
  7. Click PURCHASES tab
  8. Click PAYMENT tab This is to amend default for Payment
  9. MODE Click the dropdown box and change to the required one. 
  10. Change accordingly
  11. A/C PAYEE ONLY
  12. BEARER
  13. REMARK 
    1. To understand the purpose of them, see article Print Cheque
  14. Click SAVE
  15. Close the module 
  16. This is to save your changes.

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