ACCOUNTING

 

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Account in DataCOM is a numeric figure that represents an accounting entity.

Accounts are divided into classes according to the Lebanese chart of account.  Accounts are either group accounts or auxiliary (detailed) accounts.  Group accounts consist from 1 digit to 4 digits, auxiliary (detail accounts) consist from 5 to 10 digits.  In any transaction (Sales invoice, Purchase Invoice, Journal voucher, payment voucher, receipt voucher, debit note, credit note) only auxiliary accounts are allowed to be used.

A Lebanese chart of account is found in DataCOM.  This chart contains the main group accounts and some important auxiliary (detail) accounts.

 The creation of accounts must obey the following steps:

1- create the one digit group account

2- create the two digits group account

3- create the three digits group account

4- create the four digits group account

5- Any number of digits greater than five is allowed to be used for detail account

The following remarks should be taken into consideration:

1- An account number is created in the ledger form regardless of the currency that is going to be used with.              

2- A detail account could not be created before its group accounts are created.

3- Group accounts should be created sequentially with respect to the number of digits.

For example if the group 47265 is required the following groups should be created in this order: 4 then 47 then 472 then 4726 then 47265. Gaps are not allowed between consecutive groups.                    

4- After the 4th digits a detail account can be created with skipping and number of digits up to 10 digits ( e.g. if the group account is made of 4 digits a detail account can be made of 5 or 6 or 7 or 8 or 9 or 10 digits).

5- Whenever a detail account is created no group or detail accounts can be created with a number of digits greater than the number of digits of this detail account.

6- Whenever a detail account is created no group accounts can be created with the same number of digits as the number of digits of this detail account.

7- Whenever a detail account is created only detail accounts can be created with the same number of digits as the number of digits of this detail account.

8- It is preferable that the detail accounts be more than 6 digits for reserving future possibilities to create group accounts.           

9- An auxiliary (detail) account could not be deleted if there is any transaction or movement on this account.

10- A group account could not be deleted before the deletion of all its auxiliary (detail) accounts.

11- Detail accounts starting with the same group account are summed up to this
group account.

12- Group account figures always come in the 2 base currencies.

13 -The same detail account number can be used in any currency. 

Proper example of creation of accounts: 

1		1 digit	Group Account
12		2 digits	Group Account
125		3 digits	Group Account
1250		4 digits	Group Account
.....
..........
12500001		8 figures	Detail Account 5 → 10 Figure

Using the ledger form

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0. This page contains the following information of an account (Code - Name - Group -Document
Description).
 

1. This page contains the figure of an account in detail according to the currency. It means the debit balance, the credit balance, the balance in each currency used for the account are shown. 

 

2.  This page shows the figures of the status page in a graphical representation.

 

3.  Account number; It can not be modified whenever it is used in any transaction. It is a numeric field. Account number is a unique field so no two accounts can have the same number.

      

4. Account name is an alphanumeric field it can store up to 50 characters.

 

5. Group or Detail: (T) for true means the account is a group one.

                           (F) for false means the account is a detail one. 

 

6. Document is an optional alphanumeric field used to relate more than one account to each other to have one consolidated statement of account report.  For example if there are two different accounts, a supplier account 40110701 for  " Messrs X"  and a client account 41110652 for "Messrs X" , the same document can be set to both accounts to have one consolidated statement of account for "Messrs. X".

                 

7. Description is a memo field used for any comments or description for the account. It can store up to 250 characters.

 

8. The tabular form of the ledger where all the accounts are listed.

 

9 - 10 - 11 - 12 - 13 .  The figures of balance, debit balance , credit balance are shown in the 2 base currencies.

CURRENCY Form

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DataCOM is a multicurrency system. Currencies rate can be entered on a daily bases. Last rate entered is used by DataCOM transactions. There are two base currencies in DataCOM (currency base 1 and currency base 2). These two currencies can be set in the Utilities program fill setup file. By default the two base currencies are set to Lebanese pounds and US dollars as currency base 1 and currency base 2 respectively.

Currency Form figure 1:

In this page the currency code and name are created.  Also the nature of this currency is specified according to its conversion rate to currency base 2.     

0. Currency Code is a 6 alphanumeric field.
1. Currency Name is a 30 alphanumeric field.
2. Currency Nature is checked only if the currency is stronger than currency base 2. e.g. if the currency is EURO then the nature is not checked since the EURO is stronger then the US dollar which the currency base 2. If the currency is YEN, then the nature is checked, since the US dollar is stronger than the YEN. 

Currency Form Figure 2:

0. Rate/Parity page.

1. Code / Name / Nature (refer to the currency figure form).

2. Currency Chart is a graphical representation of the currency rates.

3. Currency code is chosen from the list that contains the currencies already created.

4. The name of the currency.

5. Date of the rate and parity being entered.

6.  Conversion rate of the currency to currency base 1. e.g. rate of US Dollars to Lebanese pounds is 1507.5 , or rate of EURO to Lebanese pounds is 1696  if Lebanese pounds is the currency base 1.

7. Conversion rate of the currency to currency base 2. e.g. parity  of US Dollars to US dollars is 1 , or parity  of EURO to US Dollars is 1.125 if US Dollar is the currency base 2.

8-9-10 are the display of fields 5- 6- 7.

Steps to follow:

1-  Create code and name of currency if this currency does not exist.

2- Create directly the parities and rates of the currency according to the date required. 

 

NB: DataCOM transactions (journal voucher, payment, receipt, debit note, credit not vouchers, purchases invoice, and sales invoice) use rates and parities according to the nearest date. E.g. if the transaction date is not found in the currency rate dates, then the nearest rate that is less than the transaction date is used.

CLIENT Form

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The client or customer is a crucial entity in any firm. 

The Client Form where client's information is created and managed.

The client created in this form appears and can be accessed in the following forms:

Sales Invoice form

Return Sales Invoice form

Receipt voucher form

Inventory reports

Accounting reports

 

There must be at least one client in DataCOM in order to have sales operations.

    

Client code is the account number (detail account) that appears in the ledger form.

 

Client Form figure:

Not all the following fields are mandatory. Non-Mandatory can be skipped.  Mandatory fields are marked with M the others with N

 

0. (M) Client Code that is at the same time the account number of that client.  When a client is created in this form, its code and name are created automatically in the ledger or chart of account.  The client code should obey the rules of creating auxiliary accounts in terms of number of digits.
To set the first client number fill setup file auto-increment. The first client number will start the list of clients and the number of digits; refer to the Utilities program. Client code is a unique number, which means no two clients can have the same number.

1. (M) Name of the client

2. (N) first phone number

3. (N) Address of Client, It appears on the print out of the sales invoice.

4. (N) Second phone number

5. (N) Any description or comments on the client

6. (N) Fax number of the client

7. (N) Kind of work of the client

8. (N) Email (internet email-address)

9. (N) Internet home page or web address

10. Selling price category. There are 5 selling price categories (I, II, III, IV, V).  These categories are related to the item form, where an item or product can have five different selling prices (I, II, III, IV, V). If a client belongs to category III therefore the selling prices of the any item sold to this client will be price III of these items. Default category is I.

11. (N) Credit limit amount of that client.  When the balance client exceed this amount, when invoicing to this client a warning window appears to alert the user. This amount is in the currency of the client in field (14).

12. (N) It is the VAT number of the client if it exists.

13. (N) A discount percentage, if this field exists when invoicing the selling. prices will be discounted automatically according to this percentage.

14. (M) Currency that the client will deal with. 

15. (N) Payment terms is the number of days to define the maturity date of an invoice of the client.

16. (M) Checked if the client belongs to the VAT system.

17. (N) Checked if all the sales invoices of the client are cash sales.

18. (N) This table can contain many names and phone numbers of persons or employees for this client.

SUPPLIER Form

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The supplier or vendor is a crucial entity in any firm. 

The Supplier Form where supplier's information is created and managed.

The Supplier created in this form appears and can be accessed in the following forms:

Purchase Invoice form

Return Purchase Invoice form

Payment voucher form

Inventory reports

Accounting reports

 

There must be at least one supplier in DataCOM in order to have purchases operations.

    

Supplier code is the account number (detail account) that appears in the ledger form.

 

Supplier Form figure:

Not all the following fields are mandatory. Non-Mandatory can be skipped.  Mandatory fields are marked with M the others with N.

 

0. (M) Supplier Code that is at the same time the account number of that supplier.  When a supplier is created in this form, its code and name are created automatically in the ledger or chart of account.  The supplier code should obey the rules of creating auxiliary accounts in terms of number of     digits. To set the first supplier number fill setup file auto-increment. The first supplier number will start the list of suppliers and the number of digits; refer to the Utilities program. Supplier code is a unique number, which means no two suppliers can have the same number.

 

1. (M) Name of the supplier.

2. (M) checked if the supplier belongs to the VAT system.

3. (N) Address of the supplier.

4. (M) It is the VAT number of the supplier if it exists.

5. (N) Any description or comments on the client.

6. (N) The representative person in the supplier firm.

7. (M) Currency that the supplier will deal with.

8. (N) Credit limit amount that the supplier permits to have. When the supplier balance exceeds this limit, then, when purchasing from this supplier, a warning window appears to alert the user. This amount is in the currency of the supplier in field (7).

9. (N) Payment terms is the number of days to define the maturity date of a purchase invoice of the supplier.