HOPE System Guide Control System 9/16/96 Page 128

Function of the HOPE Accounting System

To reach the Accounting Menu, choose "Accounting Analysis" from the To Do Menu.

Accounting Menu

Somers System (c) 1990

0) Leave Accounting

1) Work with Customer Collections

2) Expense Entry

3) List Bills for Merchandise (P) Pay

4) Personnel

5) Payroll

6) Month end Activity - A/P AND A/R

7) Financial Reports - View and Audit

8) Business Analysis - Display Status

9) Store Results Consolidation Screen

Enter Selection: F1=Help

The Chart of Accounts is reached by Choice 7) on the Financial Statements Sub-Menu. The Chart of Accounts contains the current month and year-to-date values for all your store's accounts(revenue, expense, asset accounts, etc.).You may add accounts, enter values into accounts and reset the chart for each new month or year. Each month the account entries are updated for the month's transactions by "posting" the Journal File to the Chart of Accounts. HOPE then uses the year-to-date asset and liability amounts to create the current Balance Sheet and uses the current revenue and expense account values to create the Profit and Loss Statement for the month.

To get the Chart of Accounts Menu:

Choose "Work with Accounts" from the Financial Statements Sub-Menu.

Account definitions are on Accounting Detail Page

The Account Numbers

The accounts have already been set up and numbered. The rules for numbering are as follows:

10000-19999: Current Assets

20000-29999: Non-Current Assets

30000-39999: Current Liabilities

40000-49999: Non-current Liabilities

50000-59999: Owner's Equity

60000-69999: Must be retained earnings

70000-79999: Revenue Accounts

80000-89999: Direct Expense Accounts

90000-99999: G. & A. Expense Accounts