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Set up your client

Add accounting information for a client

Use the
Accounting Information
 tab of the
Clients
 screen to
specify
 general ledger processing information
for your client
.
  1. Select the
    Setup
    Clients
    Accounting Information
     tab.
  2. Enter the
    Current fiscal year end date
     or select it from the calendar. If any transactions have been entered for the client and the current period end date is not within the latest year, the application doesn’t let you change the current fiscal year-end date.
  3. Select the
    Period frequency
     for the client.
    • Annually
      : The period end date is the fiscal year-end date.
    • Monthly
      : (Default) The period end dates will increment by 1-month intervals (12 periods).
    • Quarterly
      : The period end dates will increment by 3-month intervals (4 periods).
    • Semiannually
      : The period end dates will increment by 6-month intervals (2 periods).
    • 13 periods
      : The period end dates will increment by 4-week (28 days) intervals (13 periods).
    • Weekly
      : The period end dates will increment by 1-week (7 days) intervals (52 periods).
  4. Select
    Edit Dates
     to specify period end dates for a given year.
  5. Select the
    Current period end date
     for the client. If the Current period end date doesn’t fall within the same year as the Latest period end date, the Current fiscal year-end date and Period frequency fields won't be available.
  6. Review the
    Latest period end date
    . This field is for informational purposes only. It displays the end date for the latest period for which this client's data has been processed. You can't edit the date in this field. The application automatically updates the date in the following situations.
    • The period is advanced to a new period or the year is closed to a new year via the
      Actions
      , then
      Change Posting Period
       command, and that period or year hasn’t yet been accessed for the client.
    • The date in the
      Current period end date
       field is updated and the new date falls after the latest period end date. The
      Latest period end date
       will never go back in time, even if the current period is moved back to a prior period.
    • The frequency is updated such that the existing Latest period end date doesn’t apply with the newly selected frequency. For example, if the frequency is monthly and the Current period end date and the Latest period end date are 1/31/10, and you change the frequency to quarterly, the Current period end date and the Latest period end date will both change to 3/31/10.
  7. Mark the
    Enable close posting periods for Accounting CS
     checkbox to close posting periods for a client to prevent adjustments from being made to those periods. This functionality isn't available by default, but you can enable it on a per-client basis.
  8. Select the
    Entity Type
     for the client. The application uses the entity type to determine which tax codes will be available to be assigned in the
    Setup
    ,
    Chart of Accounts
     screen:
    • 1120
    • 1120S
    • 1065
    • 1040
    • 1041
    • 990E
    • 990PF
    • 5500
    • 1120
    • Puerto Rico
    • 1065 Puerto Rico
  9. Select the appropriate account to use as the default account for any amounts without a specified distribution account. All transactions must be assigned to a GL account. If you save a transaction without a GL account, the application will assign it to the Undistributed account specified here. By default, the application uses account 999.If you select a different GL account in this field, the application will use the new account for transactions saved going forward. It won’t change this account for existing transactions.
  10. Select
    Edit
     to specify balance definitions and budget descriptions.
  11. Mark the
    Transaction date defaults posting period
     checkbox to have the application update the posting period based on the transaction date entered. The application will default the posting period to the period in which the transaction date falls, but you can override the default posting period during data entry.
  12. Mark the
    Do not post to core general ledger accounts
     checkbox to hide core/parent GL accounts with associated segmented accounts from the dropdown list in all GL account fields. When this checkbox is marked, the
    Enter Trial Balance
     screen displays the core/parent accounts, but you can't post to those accounts. This will prevent you from accidentally posting transactions to core accounts.

This article applies to:

  • Product: Workpapers CS