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Using TurboCASH

 







SETUP SYSTEM PARAMETERS
REPORTING DATES SETUP
  
This option allows you to set up the number of reporting dates required, and the start date of your financial year. Financial statements and other reports need to be drafted, usually on an annual basis. The financial year is further divided into accounting periods or reporting dates. These accounting periods or reporting dates are used to enter your financial data and transaction data into TurboCASH. These accounting periods are used to retrieve a wide range of reports on the financial activities, performance or financial position of your entity. You may set the number of accounting periods or reporting dates from 1 to 13.

It also allows you to restrict posting for the last year or a specific financial period. You will still be able to access the detail and transactions for these "Closed" periods.

To Set the Reporting Dates:
Click on the Setup - System Parameters - Reporting Dates menu option or press the and and and keys on your keyboard. The Reporting Dates screen will be displayed:

 

Title bar. Close button - click to exit this screen. Enter the number of accounting periods in your Financial Year. This field will be inactive once you have posted or updated a batch or document to the ledger. The 12 calendar months are displayed. If any other number of periods are selected, you may change these descriptions to suit your requirements. Enter or select a valid date using the Date Picker, on which date your financial year starts. This field will be inactive once you have posted or updated a batch or document to the ledger. TurboCASH will automatically calculated these dates for the number of periods and the start of your financial year. You may also enter or select any other valid date within the Financial Year. If this field is not selected, you cannot post any transactions to the previous financial year. If this field is not selected, you cannot post any transactions to the selected accounting period. Click to save your changes and to exit or close this screen. Click to exit or close this screen without saving any changes.
Select the options for the Set of Books.

Option Description
Number Number of reporting dates (financial periods) for which you can enter transactions and view reports. Usually the number 12 for each calendar month in a financial year are used.

1 month or 6 months are usually used for small businesses such as clubs, where the number of transactions is minimal.
Start Date The starting date of your financial year.
Post to Last Year? If this box is not ticked, you will not be enabled to post any transactions, budgets, etc. to the financial year preceding the financial year entered in the start date field.
Open for Posting? If this box is not ticked, you will not be enabled to post any transactions, budgets, etc. to the financial period, which ends on the specified Ends on field.

If you click on the button, the data, which you have selected and / or entered, will be saved.

Note that, if you click on the button, the data, which you have selected and / or entered, will be not be saved (Data will be lost or the operation will be cancelled).

Should you select any other number of periods, 13 or less than 12, the Reporting Dates screen will change to display only the number of financial periods entered. You may then change the description (calendar months - January to December) to suit your requirements. These descriptions will be displayed on the Periods (This Year and Last Year) search or lookup facility as well as on reports.

For the purposes of the this Help File, dd/MM/yyyy (e.g. 31/03/2005) is used as the short date style. You may change or set the system date style or format to display the short date style for your requirements on the screens, reports and documents in TurboCASH.