Accounts

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accountsheader

 

This is the heart of the accounting functionality in Jim2. From here, financial transactions can be queried and traced, accounts can be examined and adjustments made.

 

Jim2 is an accrual based accounting system. The only cash based reporting is for GST reporting.

 

Quality

Jim2 does not include a payroll calculation engine and therefore does not offer Single Touch Payroll reporting. If the entire general ledger is being maintained in Jim2, it is an easy task to move totals from the company's payroll software into Jim2 by way of general journals, and record the accumulations and liabilities of each payroll in the associated general ledger accounts for each payroll period.

 

Jim2 does not have an automated depreciation function. It holds the value of fixed assets and any accumulated depreciation via the general ledger. In a typical Jim2 site, the depreciation entries are performed via a general journal. The detail of that journal is either from an external accountant or via a system or spreadsheet outside of Jim2.

 

The values held in the general ledger should conform to those from the external accountant, plus any movements in the year.

 

Accounts functions

Debtors

Running a list of debtors

Viewing a debtor record and associated transactions

Moving between jobs/returns from customer/cardfiles and the debtor screen

Payment types and changing them

Receiving payments and prepayments

Sending payment receipts

Applying credits

Sending statements – from individual debtor and list

Debtors notes and setting up follow ups

Debtors adjustments – use with caution

Creating email templates and setting editor rules

Debtor contras

 

Creditors

Running a list of creditors

Viewing a creditor record and associated transactions

Moving between purchases/returns to vendor/cardfiles and creditors

Payment types

Making payments and prepayments

Sending remittances

Electronic payments

Creditors adjustments – use with caution

 

Creditor transactions

Status of Finish

Purchase orders

Consign buy orders

Expense orders

Creditor contras

General Ledger

Structure of the general ledger

Add a new account

Edit an account

Account types

Hierarchy

 

Banking

Till reconciliation

Bank deposits/unbanked funds

Bank reconciliation

 

Spend Money transactions

Spend Money transactions

Cheque vs deposit

Status of Finish

Using the cheque book

 

General Journals

Adding a payroll GJ

 

GST Sessions

Cash/accrual, quarterly/monthly, IAS/BAS

Instalment income tax (provisional tax)

ATO clearing account if not paying in full

 

Right click options in the Nav Tree

rcaccounts

 

After the top 3 (which are self explanatory), these options mirror what is on the ribbon in the Accounts tab, except for the last tab, which will reset all tabs back to default.

 

Further information

Accounts Security

Account Inquiry

Clear the Historical Balancing Account

Credit Cards

Creditors

Debtors

Advanced Creditors

Suggested End Of Month Procedures

End of Financial Year

Enter a Capital Asset

Enter Child Support Payments

Enter Government Support Payments

Purchase a Capital Asset Under Finance

General Journals

General Ledger

GST Sessions and the BAS

Handle Paypal (and Similar)

Multicurrency Revaluations

Record Debtors/Creditors Contras

Rounding Issues

Sell a Company Asset

Set up a Loan Account

ATO Reportable Sub-Contractor Payments

Share Utility Expenses with other Businesses

Transaction Journal

Understanding Debits and Credits

Use Debtors and Creditors Adjustments

Recover Bad Debts

Withhold Tax

Write off a Bad Debt

Write off Fixed Asset

Work with Tax Codes in Jim2