Great Plains: Short Cut Sheet - Cal Poly Pomona



Great Plains: Short Cut Sheet

Make a Credit Sale:

Transactions----------Sales------------Invoice Entry p.4

Post A/R and Sales

Make a Cash Sale:

Transactions----------Sales------------Invoice Entry p.12

Post Cash and Sales

Bank deposit

Receive Goods on a Sales Return:

Transactions----------Sales------------Invoice Entry p.21

Invoice Distribution

Apply Sales Return

Collect an Outstanding Account Receivable

Transactions----------Sales------------Cash Receipts p.28

Apply Sales

Bank Deposit

Write Off an Uncollectible Account Receivable

Transactions----------Sales------------Transaction Entry p.34-39

Select Credit Memos as document type.

Type a description of the transaction.

Review the default write-off date and change if necessary.

Select the customer id.

Enter amount of write-off.

Apply write-off to outstanding invoice.

Click distribution button. Verify general ledger.

Review entry window for receivables/

Post.

Receive a Miscellaneous Cash Receipt

Transactions----------Financial------------Bank Transaction p.40

Select "Enter Receipt" as the option.

Select Receipt Type (check or cash):

If check, select checkbook id.

Check the date on invoice "transaction date".

Type the amount of the cash receipt.

Type name of customer (or company name) from whom check was received under "received from".

Type description of cash receipt (invoice and who the money was from).

Click the show button. Accept all contents under general ledger in scrolling window.

Review all information.

Post the misc. cash receipt.

Prepare a Purchase Order

Transactions----------Purchasing------------Purchase Order Entry p.50-55

Accept standard as purchase order type.

Accept/enter purchase order #.

Enter purchase order date. Correct date if necessary.

Select site where the items will be received. Check default site. Site ID will prevent you from moving forward if you do not fill in this area.

Select the vendor id.

Enter the quantity ordered.

Accept/modify unit cost.

Accept/modify item description.

Enter trade discount if apply.

Review before saving for completeness and accuracy. Check subtotals.

Save purchase order.

Because no "Transaction" occurred--no posting entry is made to either the subsidiary records or to the general ledger.

Receive Goods from a Purchase Order

Transactions----------Purchasing------------Receiving Transaction Entry p.56

Select "Shipment/Invoice" under transaction type.

Enter invoice/shipment data (vendor info, date, and PO number).

Click Auto-Rev button.

Review all items received.

Review receiving transaction entry window for completeness and accuracy.

Click Distributions button and verify general ledger.

Post receipt of goods.

Pay a Vendor’s Outstanding Invoice

Transactions----------Purchasing------------Manual payment p.62

Change date.

Select vendor id.

Select type of payment and document number.

Type ($) amount.

Click show button and select invoices to which cash disbursement is applied.

Click ok in apply payables document window.

Click Distribution, click show button. Verify General Ledger accounts.

Review form and post!

Purchase Goods or Services Without a Purchase Order

Transactions----------Purchasing------------Transaction Entry p.68-70

Type in description of the transaction.

Check default date. Select vendor id.

Check payment terms, vendor invoice number.

Select shipping method.

Type in purchase amount from invoice, amount of check.

Click distribution button.

Check all general ledger accounts.

Review payables transaction entry window.

Post the invoice transaction.

Pay Employees

Transactions----------Payroll USA------------Manual checks p.74-79

Review default check #, default check and posting dates.

Enter employee id.

Select hour or salary as the pay code for gross pay.

Check the default pay period dates.

Select and type the Gross pay amount, including overtime pay. Save.

Select and type the total Federal tax withheld. Save.

Select and type the total FICA/social security tax withheld. Save.

Post payroll transaction.

Prepare a General Journal Entry

Transactions----------Financial------------General p.80

Enter date (change date if necessary), description (reference), GL accounts (Dr, Cr).

Make sure difference amount = 0.

Post general journal entry. ALWAYS REVIEW BEFORE YOU POST!

Adjust Perpetual Inventory Records

Transactions----------Inventory------------Transaction Entry p.86-88

Select variance as the document type.

Change date if necessary.

Select default site where inventory is.

Select item #.

Adjust quantity if needed.

Adjust unit cost.

Check/review for any errors.

Post adjustment.

Prepare a Bank Reconciliation

Transactions----------Financial------------Reconcile p.92

Select the checkbook id of bank account being reconciled by clicking on the magnifying glass (double click on the desired bank).

Type the bank statement ending balance.

Type the bank statement beginning balance.

Type the "cut off" date.

Click the transaction button. Select bank transaction window.

Click "c" next to each deposit and check that has cleared.

Check for and analyze the difference--adjustments.

Click the show button. Select or type the general ledger account number.

Make the necessary adjustment and enter necessary data (type, date, account, amount).

Repeat until all remaining amount is solved.

Make sure difference is zero.

Print reconciliation reports.

As the last step click on the reconcile button.

Check reconciliation by reviewing:

Use Inquiry-----------Financial-----------Checkbook Register

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