xTuple ERP Reference Guide

If a company segment is being utilized, specify a company segment size value between 1 and 10.

Check this setting to enable the ability associate a company to another database that can be used to synchronize trial balance information.

Specify a main segment size value between three and ten. This setting defines how large the base account number portion should be. For example, if you specify "4" here, then your account numbers would probably range from 1000 through 9999. Similarly, if you specify "5" then your account number range would be from 10000 though 99999.

Select if you want all transactions and their full transaction detail to be posted directly to the G/L in real time.

Select if you want all transactions and their full transaction detail to be posted in real time to intermediate journals (sometimes also referred to as day-books). From the journals, transactions are later posted to the G/L—in summary form. In this way, transaction detail remains in the journals, with the summarized version of that detail residing in the G/L. You can post journals to the G/L on a daily, monthly, or weekly basis. It's up to you how you want to implement this feature. Keep in mind that the trial balance and other financial reports are based solely on G/L transactions. This means that journal transactions are not included in financial reports—that is, until they are posted over to the G/L. To learn more about posting journals to the G/L, please see Section 3.3, “Post Journals to Ledger”.

If profit centers are being utilized, specify a profit center segment size value between 1 and 10. This segment is placed at the front end of the account number. Profit centers are typically used to identify activity for different sites.

Select to allow free-form profit centers. Free-form means the values may be edited on the Account Number master. In other words, you will not be required to select a predetermined profit center value from the list. Using free-form profit centers can lead to inconsistent account numbers if not handled correctly.

If subaccounts are being utilized, specify a subaccount segment size value between 1 and 10. This segment is placed at the back end of the account number. Subaccounts are typically used to identify activity for similar types of accounts where detail is important.

Select to allow free-form subaccounts. Free-form means the values may be edited on the Account Number master. In other words, you will not be required to select a predetermined subaccount value from the list. Using free-form subaccounts can lead to inconsistent account numbers if not handled correctly.

Select if you want to require users to be required to enter notes when posting simple or series manual journal entries. If this option is not selected, users will not be required to enter notes when posting simple or series manual journal entries.

Select if you want to manually configure trial balance forward-updating on an account-by-account basis. To enforce automatic forward-updating (which is the standard approach), then do not select this option. Not selecting this option means forward-updating will be automatic across all accounts and financial reports. In automatic mode, the forward-update check box will be hidden on the Account master records. The forward-update utility in the Accounting module menu will also be hidden from view in automatic mode.

Select a valid G/L account. This is an equity account. It will be credited if retained earnings are positive—and debited if retained earnings are negative. The retained earnings calculation occurs when a fiscal year is closed. Total expenses for the year are subtracted from total revenues, and the balance is transferred to the year end equity account. The system then automatically resets the beginning balances for revenue and expense accounts to $0 for the start of the new fiscal year.

Select a valid G/L account. This is an expense account only needed for xTuple ERP databases where multiple currencies are in use. The account will debited for currency gains and credited for currency losses arising from fluctuating exchange rates. Currency gains/losses may be recognized at the following points: 1) When posting a cash receipt applied to an invoice; 2) when posting a payables payment applied to a voucher; 3) when applying a receivable misc. credit memo to an invoice; and 4) when applying a payables misc. credit memo to a voucher. In each case, the gain or loss arises when the exchange rate used for the apply-to document differs from the exchange rate used for the application.

Select a valid G/L account. This is an expense account. It will be debited or credited if rounding errors cause discrepancies when multiple line item (i.e., series) transactions are posted to the G/L. If used, the amounts posted to this account will be minuscule, as rounding errors are fractional by nature.

Select a valid G/L account. This is a liability account. It will be debited or credited when the system cannot determine a ledger (or more typically a receivable/payable) account to distribute funds to. As a rule, there should be nothing in this account besides exceptions. The intention is that accountants should review the account monthly. If they find anything in the account, they should journal the amount out to the correct account(s) and fix the cause of the unassigned accounts.

Enter the starting number for the next batch of payments issued. If you try to enter a number that has already been used, a warning message will be raised.

Unique company number used to identify legal business entity. Select an option to specify what type of number is used. The NACHA specification says that there are three standard codes that describe the "company id" field in the output:

The NACHA spec recommends but does not require these values. As a result, some banks expect these fields in the output to have other values. You have the option to configure bank accounts to use the standard 1/3/9 code values or a specific single character regardless of the company id type. Payment files prepared for upload use the setting for that bank when formatting the ACH records.

Legal name of organization.

The following information is shown for each of the possible EFT formats: default suffix, routing number format, account number format, and formatting procedure. The procedure is a stored procedure, which is stored in your xTuple database with the rest of the business logic.

Select to require a vendor invoice number when creating purchase order vouchers. If not selected, vendor invoice numbers will not be required.

Select to require a vendor invoice number when creating miscellaneous vouchers. If not selected, vendor invoice numbers will not be required.

Specify the standard number of days beyond the open receivables due date which will serve as a grace period. As long as receivable due dates are within the grace period, customers will not be put on credit warning when the late status utility is run. Once outside the grace period, they will be placed on credit warning.

If selected, this equation will be used.

If selected, this equation will be used.

Select this option if you want to use cash based tax distribution. Activating this feature will create both a clearing account and a distribution account for tax codes. When a bank reconciliation is posted, the proportional amount of tax transactions will be moved from the clearing account to the distribution account.

If selected, all inventory transactions will be posted to the general ledger. When not selected—and the G/L source is either I/M, P/D, S/R, or W/O—then transactions from those G/L sources will be blocked and not posted to the general ledger.

If selected, all accounts payable transactions will be posted to the general ledger. When not selected—and the G/L source is either I/M, P/D, S/R, or W/O—then transactions from those G/L sources will be blocked and not posted to the general ledger.

If selected, all accounts receivable transactions will be posted to the general ledger. When not selected—and the G/L source is either I/M, P/D, S/R, or W/O—then transactions from those G/L sources will be blocked and not posted to the general ledger.

Select to enable the option to import bank statement files in .CSV format for use in your bank reconciliations. When selected, an IMPORT button will appear on the Bank Reconciliation screen. If this option is not enabled, the IMPORT button will be hidden from the Bank Reconciliation screen.

Specify the adjustment type to be used for debit transactions when performing manual overrides of the automated reconciliation.

Specify the adjustment type to be used for credit transactions when performing manual overrides of the automated reconciliation.

Select if finance charges should be calculated from the due date.

Select if finance charges should be calculated from the invoice date.