HELP GUIDE GENERAL FAQs

Table of Contents
1. 2. 3. 4. 5. 6. 7. 8. 9.

Page

How do I accept a repeat transaction? .................. 3 How do I change my password? ........................... 4 How do I update my email address? ..................... 5 Usage Tips - Corporation Tax ...... 8 Usage Tips - Loans ......... 10 Usage Tips - Fixed Assets .. 11 Usage Tips - Drawings .... 12 Usage Tips - Petty Cash ..... 13 Usage Tips - Directors/Owners Loan Account .. . 15

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1. How do I accept a repeat transaction?

The system checks the due date for any repeat transactions. If it has passed, a reminder is displayed on the home page. LEFT MENU SELECTION: SUBSECTION 1 My Details Accept repeat transactions

A list of all the transactions requiring attention is shown.

Each line has a button to perform a specific function on that item. Accept Accept & Edit Dismiss The entry is automatically recorded as shown. Change the transaction details before accepting it. Dismisses this instance of the repeat transaction.

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2. How do I change my password?

LEFT MENU SELECTION: SUBSECTION: My Details Company Details

Tick the box shown at the change Password option at the bottom of the right hand side of the screen. Two additional boxes are shown. Enter the new password, and then again to confirm it. Click Update to save the password.

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3. How do I update my email address?

LEFT MENU SELECTION: SUBSECTION: My details Company details

1 2

Delete the email address shown and enter a new one. Click Update, the revised email address is saved and must be used for future logins.

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4. Usage Tips - Corporation Tax

1) Corporation tax payments Once the years tax provision has been made, payments should be set against the Current Liability Corporation Tax and not against the Profit & Loss Expense. The Profit & Loss Expense heading was used in 1) above to record the tax charge in the prior period, the period to which the charge related. To apply the Corporation Tax payment to the Current Liability Corporation Tax; 1) 2) 3) Click Expenses Click Record Expenses Record an Expense as normal BUT select the Current Liability Corporation Tax from the drop down list. NOTE: The balance headings appear on the drop down list after the Expense headings

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5. Usage Tips - Loans

Care should be taken when recording Loans and any repayments made on them. To set up a new Loan Account 1) Click Bank Accounts

2) Click Loan Account Creation and complete the boxes. Boxes marked with an asterisk are mandatory, the other are optional.

3)

Click Add a Loan Account.

After the Loan Account has been created use the Bank Accounts, Transfer function to transfer funds between bank and loan accounts. Use the same function to move funds between bank accounts, loan account and credit card accounts. Please refer to the Bank FAQ for more information. Do not use the Expenses, Record Expenses function to record loan repayments. Use this function to record Interest Payments. Care should be taken to split Loan repayments between Capital and Interest. Capital Repayment should be recorded using the Transfer function described in the previous paragraph.

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6. Usage Tips - Fixed Assets

Fixed Assets can be recorded in either of 2 ways; use Cars/Equip or use Expenses. If the second option is used please make sure the appropriate Fixed Asset cost headings is selected from the bottom of the heading drop down list.

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7. Usage Tips - Drawings

Unincorporated businesses should use the Personal section to record any drawings taken from the bank account. The Drawings function reduces the balance in the bank and increases the amount owed by the owner/partner to the business. The bookkeeping that is performed is; Debit Owners/Partner Loan Account Credit Bank or Payment Method

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8. Usage Tips - Petty Cash

Any income or expense transaction can be recorded using cash as the payment method by selecting it specifically from the drop down list of offered during transaction entry. Select cash as the method of payment, the system does the following bookkeeping Income Dr Cr Dr Cr Cash Income Heading Selected Expense Heading Cash

Expense

Manage the petty cash by selecting Bank Accounts, Deposit. The amount entered in the Cash Deposited box is used to increase the Bank balance and decrease the petty cash (cash on hand) balance. Complete the boxes, the asterisked boxes are mandatory and click Add Bank Deposit.

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To take cash out of the bank and top up the petty cash tin use Bank Accounts, Withdrawal. This reduces the amount in the bank and increases the value of petty cash on hand. Complete the boxes, the asterisked boxes are mandatory and click Add Withdrawal.

At period end before filing the Gabriel report, review the Accountant, View ETB (extended trail balance) and check the balance on the petty cash heading for reasonableness. The system displays how the balance is made up if the heading is clicked. Take note of the autoref numbers so that items can be edited later via the Income, List Income and Expenses, List Expenses screens if the payment method needs changing.

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9. Usage Tips - Directors/Owners Loan Account

Any transaction recorded using Personal hits the Directors/Owners Loan account (DLA). Review the balance on the DLA visible at Accountant, View ETB prior to filing the Gabriel report. If there is a Debit balance on the DLA consult with an accountant as there may be a contravention of the Companies Act which prohibits loans from a company to its Director(s). If there is a Credit balance on the DLA it signifies that the company owes that amount to its Director(s).

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10. Usage Tips -

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