

			  DAYO GENERAL LEDGER BASICS
 
 
 
     There are three methods of creating transactions in DAYO General Ledger.
The following is a brief explanation of the easiest method which is also the
standard method in computerized accounting.

 
     SETUP: Class codes working in conjunction with your Chart of Accounts are
very important to the proper functioning of DAYOGL.  Set up your chart of
accounts to reflect how you want to record your finances.  You need to decide
how many accounts you will need and what kind of accounts they will be
(expenses, assets, liabilities, etc.).  This decision is specific for each
company and unfortunately it is not something we can direct in a manual.
Advise from your accountant in this area can be very helpful.  Refer to page 1
in the DAYO General Ledger Manual for a basic overview and page 5 to begin a
more detailed description of the Chart of Accounts and its use in DAYO.

     Set and define your class code structure.  Class codes, which are used in
every transaction and in every module, categorize your accounting data into
logical groups (which can be printed in report form from the DAYO Smart Reports
module (these reports are described in the next paragraph)).  For example, you
may use purchase orders to buy many different types of inventory.  You buy
inventory for resale and inventory for office use.  You would assign these
different types of inventory different class codes so that you would be able to
separate them into different expenses.  It is essential for the VENDORS and
CUSTOMER databases to have class codes.  DAYO is a double entry system,
requiring a debit and credit posting for every transaction.  Refer to pages 10
and 14 in the user manual.


     TRANSACTIONS: Once you have the logic behind your financial structure
completed by assigning class codes and setting up your Chart of Accounts, you
may begin creating transactions.  The easiest and standard method of entering
transactions is using manual transactions in DAYO.  First, using DAYO Smart
Reports, run the Class Code Summary Report for every accounting database.  To
do this, select the Class Code Summary (GL) report using the arrow keys and
press enter when the selection is highlighted.  Enter the starting and ending
dates at the prompt (preferably, these dates reflect a full period).  Answer
the remaining prompts and select the specific report you wish to generate.  The
sub- totals of these reports are what will make up your GL transactions.

     Create a transaction using selection 3 from the DAYO General Ledger main
menu; TRANSACTIONS.  Simultaneously press the CTRL and N keys to create a new
record.  A new transaction number will automatically be assigned and the date
recorded.  Enter the class code in the space provided for CLASS.  Enter a name
or description of the transaction in the space called NAME.  Enter the accounts
you want to debit and credit according to the accounts you have already set up
in your Chart of Accounts.  Enter the amount of this transaction (the number at
the bottom of the report printed from Smart Reports).  You have completed a
General Ledger transaction.


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