General Ledger > Automatic Entries

To access the Standard Entries screen, first go to General Ledger > Automatic Entries > select Standard Entries.

Advantages of Standard Entries:

•After one-time setup standard entries provide a quick and easy way to create reoccurring entries with the click of a button. For example: monthly depreciation entries, the capability to note payments that need to go to A/P, Job Cost Allocations, etc. These are entries and/or payables that need to be created on some regular reoccurring basis (each month, each quarter, each year, etc.). The amounts are usually the same each month, but they could also be different.

•You may or may not get an invoice or statement for a given standard entry.

•One use would be to remind you once a month to go online and download the monthly statement from a vendor (i.e. on that vendor you pay from their statement and not each invoice), for example a country club statement or a credit card statement.

•Standard entries give you the ability to generate general ledger, accounts payable and/or allocation entries at the click of a button! Enter in the information (i.e. entry) one time and then each month just click on Generate and the system will automatically post the entries to the general ledger. Accounts Payable entries will post to the open item invoice listing, ready for payment.

To create/generate the entries:

1.Enter the entry on the selected entry type screen (i.e. A/P, G/L, or Allocation).
NOTE: If you are creating an entry that affects a cash account for a period in which the bank reconciliation has been completed, an error message will inform you that the cash account has been reconciled for the effective date. To make the entry, the entry's effective date can be changed to one that is not a part of a completed reconciliation OR the completed reconciliation would have to be deleted.

2.After all the invoices are entered, to create the entries in the general ledger and accounts payable systems, Click on the Generate button.

3.You have two options on the Generate button:

a.Generate only for the entry on the screen - OR -

b.Generate for all entries as of the date displayed.

4.Clicking on OK will bring up your next screen to select the entries to post to the General Ledger.

a.If there are any errors with one of the entries that should be posted, the Pak Accounting system will highlight that particular entry in red on the Standard Entries Posting screen and will not allow it to post until it is corrected.

5.Upon clicking OK, the system will post the entries marked.

a.Once posted, entries will show up in the financial statements, ledger, journals, and A/P invoices will show up on the Open Item report.

b.The system will provide an informational screen informing the user of the number of entries that were created and the number of entries that posted.

6.After a standard entry is generated, the Last Gen date will update with the date, time, and user If of the last generation for informational purposes.

Notes:

•A/P entries are sent to Accounts Payable as open item invoices. Additionally, if Service Date is turned on to be displayed, it will show on GL and AP entry types.

•Reference numbers are automatically generated in the general ledger for the entry. See next number assignment. The reference displayed on the screen is the reference number the system used the last time this entry was generated.

•A/P standard entries are intended to record accounts payable entries for vendors who do not send an invoice (i.e. Rent, etc.)

•A/P type standard entries will have a Duplicates tab and a History tab to show any duplicated entries and the invoice history respectively. GL type standard entries do not have either of these tabs.

•A/P standard entries will have an Approvals tab on the right-hand side of the screen if your company has Approvals turned on.

Use the Filter button to restrict the number of standard entries displayed. You can View All Entries, View as of a Certain Date, or Customize the view.

The Find button will help you find a certain entry already setup. A/P entries are by Vendor, G/L entries are by journal, and Allocation entries are by allocation name.

The Utility button allows you to:

Allocate difference dollars to each line item	example: if you change the dollar amount in the top section and select allocate the dollar difference will allocate based on pro rata to the bottom section)
Undo Allocation	reverses any allocation
Save above GL coding for this vendor	saves the GL coding for the entered vendor
Import from Excel	Also see Import. Follow the setup on the screen to create a template.
Export to Excel	Use this option to export all of your Standard Entries into an Excel file.
View AP Documents	Used with the Process Batch A/P Documents.
Process Batch A/P Documents	This is the same as the option Process A/P Batch Documents in A/P - #10 Entries.
Copy current Standard Entry to a new Standard Entry.	Use this feature to copy an existing Standard Entry into a new one.

See Multi company standard entries for making entries across several companies.

Standard Entries:

Next Gen date	Enter the date for the next generation of the entry.
Frequency	Enter how often to generate the entry.
Entry type	A/P Entry, G/L Entry, or Allocation.
Skip to the Next Period	Entry will not generate, Next Gen date skips to the next date based on the Frequency.
Links for additional info:	Reference; Account number; and Vendor
Scan Document	Scan document (i.e. invoice) to attach to A/P entry. Only applicable if scanning is turned on. See scanning for more information.
Invoice #	Enter an invoice number that will be recorded on all entries (ie: UTILITY, RENT) instead of the invoice number on a specific a/p invoice.
Invoice Amt	Enter the amount to be recorded on the entry (enter the first invoice amount it can be changed for future invoices).
Invoice Date / Effective Date	Enter the date of the first invoice (NOTE: the date will increment based on the Frequency).
Add'l Check stub desc	Enter any additional information to record on the check stub.
Due Date	Enter the initial due date of the invoice (NOTE: the date will increment based on the Frequency).
New Amounts required each time	Check if the invoice amount will change for future entries. Once you check the box, before you can generate the entry again, you must check the Amounts have been Changed box.
Account/Sub-account	Enter the expense account/Sub-Account the record the a/p invoice in the G/L.
Expense Amt	Enter the amount to record to the specific account. Can be expensed to unlimited number of accounts.