Run the accounting wizard

In order to use the Accounting module, you need to configure the master data first. The accounting wizard guides you through the configuration process. Once the configuration process is finished, the Accounting module will be set up and ready to use. Since the Accounting module works together with many other modules, it is highly recommended to carry out the configuration as one of the first steps when installing the system.

The accounting wizard starts automatically when opening the Accounting module for the first time. If you cancel the accounting wizard, you have to run it at a later point to use the Accounting module. In this case, the [START WIZARD] button will be displayed when accessing the Accounting module again.

Start wizard

The accounting wizard will help you enter all necessary data step by step.

Prerequisites

No prerequisites to fulfill.

Procedure

Accounting
Accounting > Button START WIZARD

Accounting wizard

Click the [START] button.
The configuration process starts. The Fiscal years wizard window is displayed.

The progress in the wizard is displayed on the top left corner in the accounting wizard window.

Fiscal years

In this step, you must configure at least one fiscal year.

Prerequisites

The accounting wizard has been started, see Start wizard.

Procedure

Accounting > Button START > Fiscal years
Accounting > Button START WIZARD > Button START > Fiscal years

Fiscal years

  1. Enter a description for the fiscal year in the Description field. The current year is preselected by default.

    It is possible to enter digits, letters or combinations of characters. The number of characters is limited to 10.

  2. Enter the start and end date of your fiscal year in the From - To fields. The fiscal year displayed by default is the current calendar year.

    The fiscal year must consist of 12 months. However, it does not have to be a calendar year, but can be, for example, from April 1 to March 31.

  3. Click the Currency drop-down list and select the base currency. The drop-down list displays all currencies available in the system. However, the accounting module can only work with one currency, that is, the base currency configured during the installation process.

    The base currency is the currency used by a company for accounting purposes, usually the currency of the country where the business is primarily based, even if it operates in other countries and currencies.

  4. Click the Tax on payment drop-down list and select the appropriate option. The following options are available:

    • Yes
      Select this option in case VAT is due when revenue is effectively received.
    • No
      Select this option in case VAT is due when revenue is invoiced.

    This option has fundamental implications for the system automatic recording of taxes. In case of doubt, please check with your tax advisor.

  5. Click the Planning FY drop-down list and select the appropriate option. The following options are available:

    • No
      Select this option to set up an actual fiscal year.
    • Fiscal year for planning purposes only
      Select this option to set up a fiscal year for planning purposes only.

    A fiscal year for planning purposes will not be recognized as an actual fiscal year by the system, and therefore the automatic functions in the interaction with other modules will not apply.

  6. Click the [SAVE & NEW] button.
    The new fiscal year is created. A small pop-up window and a green check mark confirm that the new fiscal year has been saved. The newly created fiscal year is also displayed in the list.

  7. Click the [CONTINUE] button.
    The Chart of accounts wizard window is displayed.

Chart of accounts

In this step, you must select a chart of accounts and an accounting system.

Prerequisites

  • The accounting wizard has been started, see Start wizard.
  • At least one fiscal year has been configured, see Fiscal years.

Procedure

Accounting > Button START > Chart of accounts
Accounting > Button START WIZARD > Button START > Chart of accounts

Chart of Accounts

  1. Click the Chart of accounts drop-down list and select the appropriate option. The following options are available:

    • SKR03 - Standard Chart of accounts
    • SKR04 - Standard Chart of accounts new version
    • Swiss Chart of accounts KMU
    • Swiss Chart of accounts Käfer

    The chart of accounts can only be set up once and cannot be changed afterwards. Any later modifications have to be done manually on an individual customer account level.

  2. Click the Accounting system drop-down list and select the appropriate option. The following options are available:

    • German Commercial Code: P&L
    • German Commercial Code: Balance partnerships
    • German Commercial Code: Balance small, mid-sized, large corporations
    • Cash flow
    • US-GAAP: Statement of earnings
    • US-GAAP: Statement of financial position
    • US-GAAP: Statement of cash flow
    • IAS: P&L
    • IAS: Balance
    • IAS: Cash flow

    The Accounting module can neither create a balance sheet nor an annual financial statement. Therefore, the selection of any of the drop-down list options suggested serves merely a pro-forma purpose.

  3. Click the [CONTINUE] button.
    The Accounting module is set up. A pop-up window and a green check mark confirm that the chart of accounts and the accounting system have been saved. The Installation completed wizard window is displayed.

Installation completed

In the Installation completed wizard window all three progress steps are now checked.

Prerequisites

Procedure

Accounting > Button START > Installation completed
Accounting > Button START WIZARD > Button START > Installation completed

Installation completed

Click the [FINALIZE] button.
The accounting wizard closes and the system loads all data. This may take a few seconds. Then, the fiscal year selection window is displayed.

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