HOPE System Guide Control System 11/26/94 Page 117

THE HOPE ACCOUNTING SYSTEM

Summary of Using the Accounting System

The HOPE Accounting System provides monthly Income Statements

and Balance Sheets for your business and can do so for multiple stores

or units. In order to assure the accuracy of these reports, all of the store's

transactions and expenses for the month must be entered into HOPE. Since

HOPE automatically makes transaction entries for all cash register transactions,

you will only need to enter your operating expenses and a few other miscellaneous

transaction entries (such as depreciation inventory and payables).

There are two important files used by HOPE for the accounting;

the Chart of Accounts and the Transaction File. The Chart of Accounts

contains the current month and year-to-date values of all your store's

accounts (revenue accounts, expense accounts, asset accounts, etc.). The

Transaction File contains all the accounting entries made during the

month and is used to update the Chart of Accounts each month.

You may make manual transaction entries at any time during the month

(and as often as you wish). These entries remain in the Transaction

File. At the end of the month, when you run the End-of-Period

report, HOPE automatically makes the Transaction entries for all

cash register transactions.

When you have entered all transaction entries for the month, run

a trial balance. If your accounts balance, you may then "post."

Posting is the process by which HOPE takes each transaction entry

and updates the account it affects in the Chart of Accounts

accordingly. When you post, you will receive an audit trail

containing all transactions for the month that were posted to

each account. You may then print your Balance Sheet and Profit

and Loss Statement (you must post before printing these reports

because they obtain their information from the Chart of

Accounts, which is updated for the month by posting).

To enter the Accounting System:

Choose "Accounting Analysis" from the To Do Menu.

(Initial password = ACCT. You may change the password if you wish).