Finance FAQ - Revision history

Arvind: /* Why can I not adjust the balance of one account only? */

2025-09-03T10:29:28Z

Why can I not adjust the balance of one account only?

← Older revision		Revision as of 10:29, 3 September 2025
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	Given the above rule, adjusting the balance of one account alone is not allowed because it would break the rule ... because (obviously) it would result in the arithmetic total of all account balances no longer being zero.		Given the above rule, adjusting the balance of one account alone is not allowed because it would break the rule ... because (obviously) it would result in the arithmetic total of all account balances no longer being zero.

	The effect of the rule is that you cannot ever adjust the balance of one account without simultaneously making an equal an opposite adjustment in some other account or accounts.		The effect of the rule is that you cannot ever adjust the balance of one account without simultaneously making an equal and opposite adjustment in some other account or accounts.

	==What if I cannot determine any account to make an opposite adjustment into?==		==What if I cannot determine any account to make an opposite adjustment into?==

Arvind at 13:22, 2 November 2023

2023-11-02T13:22:14Z

← Older revision		Revision as of 13:22, 2 November 2023
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	===By Vouchers Allocation file===		===By Vouchers Allocation file===
	Once the journal is posted without allocation you can only allocate from the Voucher Screen.		Once the journal is posted without allocation, you can only allocate from the Voucher Allocation Screen.

	Go to Menu > Finance > Vouchers > ~~Vouchers~~ Allocation. Enter the account number or hit the F7 key on the Selected Account(s) field and select the relevant account from the particular subsidiary chart. Click OK and ~~the system will popup~~ the Voucher Allocation page.		Go to Menu > Finance > Vouchers > Voucher Allocation. Enter the account number or hit the F7 key on the Selected Account(s) field and select the relevant account from the particular subsidiary chart. Click OK and the Voucher Allocation page will show.

	If the account selected is a DEBITS outstanding type account (i.e. Trade Debtors), then all the allocable/unallocated CREDIT items (i.e. Receipts, Credit Notes etc.) will show up. Click on any item you wish to allocate Debit items against. After you click you will get a list of all DEBIT allocable/unallocated items which you can now select to be allocated against the CREDIT item you earlier selected.		If the account selected is a DEBITS outstanding type account (i.e. Trade Debtors), then all the allocable/unallocated CREDIT items (i.e. Receipts, Credit Notes etc.) will show up. Click on any item you wish to allocate Debit items against. After you click you will get a list of all DEBIT allocable/unallocated items which you can now select to be allocated against the CREDIT item you earlier selected.

	~~Incase~~ you have a selected a CREDITS outstanding type account (i.e. Trade Creditors), then the opposite happens i.e. DEBIT items show first (Payments, Debit Notes etc) and if you click on any of these items you can allocate them against CREDIT outstanding items.		In case you have a selected a CREDITS outstanding type account (i.e. Trade Creditors), then the opposite happens i.e. DEBIT items show first (Payments, Debit Notes etc) and if you click on any of these items you can allocate them against CREDIT outstanding items.

	For accounts that have neither CREDIT or DEBIT type selected, the CREDIT items show first.		For accounts that have neither CREDIT or DEBIT type selected, the CREDIT items show first.

Arvind: /* Why does voucher allocation shows nothing to allocate when there are debits and credits on the account? */

2023-08-02T12:36:17Z

Why does voucher allocation shows nothing to allocate when there are debits and credits on the account?

← Older revision		Revision as of 12:36, 2 August 2023
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	It is planned to change NEOSYS to show RV voucher numbers in all cases.		It is planned to change NEOSYS to show RV voucher numbers in all cases.

	==Why does voucher allocation ~~shows~~ nothing to allocate when there are debits and credits on the account?==		==Why does voucher allocation show nothing to allocate when there are debits and credits on the account?==

	In some abnormal circumstances there may be items outstanding on an account which have base amount outstanding but no currency amount outstanding. NEOSYS allocation procedure works only on outstanding currency amounts so these items cannot be allocated.		In some abnormal circumstances there may be items outstanding on an account which have base amount outstanding but no currency amount outstanding. NEOSYS allocation procedure works only on outstanding currency amounts so these items cannot be allocated.

Joel: /* How to handle automatic journal entries missing because a user deleted them */

2022-02-15T11:52:31Z

How to handle automatic journal entries missing because a user deleted them

← Older revision		Revision as of 11:52, 15 February 2022
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	If the account name is mentioned in the details column of the voucher, the system will automatically drop the account name from the details column while taking the account's ledger printout. This is done because there is no need to show the same account name over and over on all rows of the report when the account name is already mentioned in the report heading.		If the account name is mentioned in the details column of the voucher, the system will automatically drop the account name from the details column while taking the account's ledger printout. This is done because there is no need to show the same account name over and over on all rows of the report when the account name is already mentioned in the report heading.

	~~==How to handle automatic journal entries missing because a user deleted them==~~

	~~Users may delete automatic entries in Finance and then later complain that the invoice was generated but the entries are missing and may even blame the system for it.~~

	~~The first step would be to locate the missing entries in the Unposted version of the journal where it was automatically generated.~~

	~~NEOSYS keeps the history of every file in the system, where you will be able to find details such as username, date/time updated and even the IP no. of the user that made the changes.~~

	Once this information is found, the user must be informed that the entry was deleted by <user> at <time> from <ip address>, then provide a working solution which would be to recreate the deleted entries using the old version as a reference.

	~~Do not spend too long trying to convince clients that it is their doing. Instead, show them proof using the logs and then direct them towards the solution.~~

Joel: /* How to handle automatic journal entries missing because a user deleted them */

2022-02-11T13:43:39Z

How to handle automatic journal entries missing because a user deleted them

← Older revision		Revision as of 13:43, 11 February 2022
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	NEOSYS keeps the history of every file in the system, where you will be able to find details such as username, date/time updated and even the IP no. of the user that made the changes.		NEOSYS keeps the history of every file in the system, where you will be able to find details such as username, date/time updated and even the IP no. of the user that made the changes.

	Once this information is found, the user must be informed that the entry was deleted by <user> at <time> from <ip address>, then provide a working solution.		Once this information is found, the user must be informed that the entry was deleted by <user> at <time> from <ip address>, then provide a working solution which would be to recreate the deleted entries using the old version as a reference.

	Do not spend too long trying to convince clients that it is their doing. Instead, show them proof using the logs and then direct them towards the solution.		Do not spend too long trying to convince clients that it is their doing. Instead, show them proof using the logs and then direct them towards the solution.

Joel at 13:40, 11 February 2022

2022-02-11T13:40:57Z

← Older revision		Revision as of 13:40, 11 February 2022
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	If the account name is mentioned in the details column of the voucher, the system will automatically drop the account name from the details column while taking the account's ledger printout. This is done because there is no need to show the same account name over and over on all rows of the report when the account name is already mentioned in the report heading.		If the account name is mentioned in the details column of the voucher, the system will automatically drop the account name from the details column while taking the account's ledger printout. This is done because there is no need to show the same account name over and over on all rows of the report when the account name is already mentioned in the report heading.

			==How to handle automatic journal entries missing because a user deleted them==

			Users may delete automatic entries in Finance and then later complain that the invoice was generated but the entries are missing and may even blame the system for it.

			The first step would be to locate the missing entries in the Unposted version of the journal where it was automatically generated.

			NEOSYS keeps the history of every file in the system, where you will be able to find details such as username, date/time updated and even the IP no. of the user that made the changes.

			Once this information is found, the user must be informed that the entry was deleted by <user> at <time> from <ip address>, then provide a working solution.

			Do not spend too long trying to convince clients that it is their doing. Instead, show them proof using the logs and then direct them towards the solution.

Arvind: /* How does NEOSYS handle base and real currency balances? */

2021-09-07T05:50:54Z

How does NEOSYS handle base and real currency balances?

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	NEOSYS keep the base currency balance separate per currency and consolidates them on the fly to produce consolidated reports for "all currencies converted to base currency".		NEOSYS keep the base currency balance separate per currency and consolidates them on the fly to produce consolidated reports for "all currencies converted to base currency".

	NEOSYS treats journals in the currency of the base currency as just another currency and not as some special currency. For example, if the base currency happens to be USD then NEOSYS can tell you a) the balances of each currency converted to USD separately b) the balance of all currencies converted to USD c) the balance of real USD excluding all other currencies. This is ~~particular~~ useful when the base currency is not the main operational currency of the system.		NEOSYS treats journals in the currency of the base currency as just another currency and not as some special currency. For example, if the base currency happens to be USD then NEOSYS can tell you a) the balances of each currency converted to USD separately b) the balance of all currencies converted to USD c) the balance of real USD excluding all other currencies. This is particularly useful when the base currency is not the main operational currency of the system.

	==Why does NEOSYS Exchange Gains/Loss account not agree exactly with my auditor's parallel system?==		==Why does NEOSYS Exchange Gains/Loss account not agree exactly with my auditor's parallel system?==

Joel at 07:22, 28 December 2020

2020-12-28T07:22:37Z

← Older revision		Revision as of 07:22, 28 December 2020
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	==How do I deallocate already allocated vouchers?==		==How do I deallocate already allocated vouchers?==

	#Go to Menu > Finance > Vouchers > Vouchers file/Deallocation.<br>[[image:voucherfile-deallocation.jpg]]<br>		#Go to Menu > Finance > Vouchers > Vouchers file/Deallocation.<br>[[image:voucherfile-deallocation.jpg]]<br>
	#Select the Journal type and enter the voucher number. <br>[[image:voucherfile.jpg]]<br> <br>As you enter the voucher number system will show the all the vouchers allocated on the bottom right to that voucher.<br>		#Select the Journal type and enter the voucher number. <br>[[image:voucherfile.jpg]]<br> <br>As you enter the voucher number system will show the all the vouchers allocated on the bottom right to that voucher.<br>
	#Click on the Deallocation button. <br>[[image:voucherfile-deallocate.jpg]]<br>		#Click on the Deallocation button. <br>[[image:voucherfile-deallocate.jpg]]<br>
	#Select the Vouchers you want to deallocate and click OK.		#Select the Vouchers you want to deallocate and click OK.
	#As you click OK system will reconfirm your move by giving a pop up "Ok to deallocate now?" click on OK.<br>[[image:voucherconf.jpg]]<br>		#As you click OK system will reconfirm your move by giving a pop up "Ok to deallocate now?" click on OK.<br>[[image:voucherconf.jpg]]<br>
	#You will see an another pop up "Deallocation Completed"<br>[[image:voucherOKconf.jpg]]<br>		#You will see an another pop up "Deallocation Completed"<br>[[image:voucherOKconf.jpg]]<br>

	==How do I enter supplier invoices for non media / non job items? ==		==How do I enter supplier invoices for non media / non job items?==

	In due course of business you might need to purchase items which are not media nor job related.		In due course of business you might need to purchase items which are not media nor job related.

	The only way to enter this is:		The only way to enter this is:

	#Go to Menu > Finance > Journals > Journal Entry / Query.		#Go to Menu > Finance > Journals > Journal Entry / Query.
	#Select JOURNAL (JOU) type and enter the relevant purchase entry here.		#Select JOURNAL (JOU) type and enter the relevant purchase entry here.
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	The only way to enter this is:		The only way to enter this is:

	#Go to Menu > Finance > Journals > Journal Entry / Query.		#Go to Menu > Finance > Journals > Journal Entry / Query.
	#Select JOURNAL (JOU) type and enter the reversal / credit note entry (exact reversal of the supplier invoice you entered initially with the particular amount).		#Select JOURNAL (JOU) type and enter the reversal / credit note entry (exact reversal of the supplier invoice you entered initially with the particular amount).
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	If you need to cancel an already posted Payment/Receipt voucher:		If you need to cancel an already posted Payment/Receipt voucher:

	#Deallocate any items which you allocated at the time of entering the voucher.<br>(This frees up the Payment/Receipt voucher to be allocated against a reversal entry and also frees up the allocated item (Supplier/Client Invoice) to be allocated against another voucher)		#Deallocate any items which you allocated at the time of entering the voucher.<br>(This frees up the Payment/Receipt voucher to be allocated against a reversal entry and also frees up the allocated item (Supplier/Client Invoice) to be allocated against another voucher)
	#Do a reversal entry of exactly the same Payment/Receipt voucher and allocated the same to the actual entry. Thereafter you can enter the new Payment/Receipt.		#Do a reversal entry of exactly the same Payment/Receipt voucher and allocated the same to the actual entry. Thereafter you can enter the new Payment/Receipt.
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	The repercussions of granting permission to edit/repost journals would be as follows:		The repercussions of granting permission to edit/repost journals would be as follows:

	#NEOSYS Financial Module can no longer be trusted if postings are subject to modification		#NEOSYS Financial Module can no longer be trusted if postings are subject to modification
	#It is not common practice to do such manipulations		#It is not common practice to do such manipulations
	#It can lead to possible errors in numbers		#It can lead to possible errors in numbers
	#Staff can become complacent and careless while posting entries and frequently ask for this permission		#Staff can become complacent and careless while posting entries and frequently ask for this permission

	So, restricting users from editing/reposting journal entries promotes a more healthy and vigilant working environment where users verify each journal entry before posting it which effectively leads to good accounting practices.		So, restricting users from editing/reposting journal entries promotes a more healthy and vigilant working environment where users verify each journal entry before posting it which effectively leads to good accounting practices.
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	The same trick is used for "Invoice/Credit Note", ie, simply enter Voucher Description as "Invoice/Credit Note" and select voucher style from the drop-down menu as "Debit/Credit Note". Depending on whether the main account is debited or credited, the Journal Print document will show either "Invoice" or "Credit Note" as the heading.		The same trick is used for "Invoice/Credit Note", ie, simply enter Voucher Description as "Invoice/Credit Note" and select voucher style from the drop-down menu as "Debit/Credit Note". Depending on whether the main account is debited or credited, the Journal Print document will show either "Invoice" or "Credit Note" as the heading.

			== How is revaluation handled in NEOSYS? ==
			When a voucher is allocated, NEOSYS automatically checks if there is a difference in base amounts and records the exchange difference by either creating/posting a revaluation voucher or amending one of the vouchers to record the exchange gain/loss.

			=== When does NEOSYS automatically create and post a revaluation voucher? ===
			A Revaluation voucher is created when a user allocates two posted vouchers using the 'Voucher Allocation' feature.

			=== When does NEOSYS amend the latest voucher to record the exchange gain/loss? ===
			Vouchers are amended when a user allocates one or many posted vouchers to a unposted journal within the 'Journals' screen.

			=== Which period will the revaluation voucher be posted into? ===
			The RV voucher is posted into the same period as the allocation period. There are three options in Voucher Allocation page to set the allocation period.

			* 'Current period' - The allocation and RV voucher will use the current calendar period.
			* 'Use Settings from above' - The allocation and RV voucher will use the latest period from the range of periods set in the Settings. For example, if range is 1/2020 - 12/2020, the RV voucher and allocation will use 12/2020.
			* 'Backdated as far as possible' - The latest voucher period out of the two vouchers will be used by the RV voucher. However, if that period is closed, then use next open period. For example, if a JOU batch is posted in 1/2020 and the corresponding REC in 2/2020, then the allocation period used will be 2/2020. If the periods have been closed till 3/2020 in Finance, then the RV voucher would be posted into the next open period, 4/2020.

	==What is the “RV” allocation without a voucher number that shows in the Voucher File?==		==What is the “RV” allocation without a voucher number that shows in the Voucher File?==
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	Solution: Run the revaluation program. Its job is to amend the outstanding base amount to agree with the outstanding currency amount at the prevailing exchange rate. Since the outstanding currency amount is zero, it will amend the outstanding base amount to be zero also.		Solution: Run the revaluation program. Its job is to amend the outstanding base amount to agree with the outstanding currency amount at the prevailing exchange rate. Since the outstanding currency amount is zero, it will amend the outstanding base amount to be zero also.

	== Why is a revaluation journal posted in the prior year when I allocated some vouchers in the prior year? ==		==Why is a revaluation journal posted in the prior year when I allocated some vouchers in the prior year?==

	It doesn't matter what time and date is on the clock when the allocation is done since you could be be working on 2017 accounts in 2018 and this is normal practice of course.		It doesn't matter what time and date is on the clock when the allocation is done since you could be be working on 2017 accounts in 2018 and this is normal practice of course.
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	Note that the allocation/revaluation period cannot be up to the closed period in the Company File, so allocated vouchers in a closed year will be allocated/revalued in the first open period - or the open period that you select.		Note that the allocation/revaluation period cannot be up to the closed period in the Company File, so allocated vouchers in a closed year will be allocated/revalued in the first open period - or the open period that you select.

	== Which accounts can be revalued? ==		==Which accounts can be revalued?==

	Revaluation is only performed on foreign currency tangible assets and liabilities accounts, which are subject to changing exchange rates and have a value and therefore can be revalued.		Revaluation is only performed on foreign currency tangible assets and liabilities accounts, which are subject to changing exchange rates and have a value and therefore can be revalued.
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	NEOSYS treats journals in the currency of the base currency as just another currency and not as some special currency. For example, if the base currency happens to be USD then NEOSYS can tell you a) the balances of each currency converted to USD separately b) the balance of all currencies converted to USD c) the balance of real USD excluding all other currencies. This is particular useful when the base currency is not the main operational currency of the system.		NEOSYS treats journals in the currency of the base currency as just another currency and not as some special currency. For example, if the base currency happens to be USD then NEOSYS can tell you a) the balances of each currency converted to USD separately b) the balance of all currencies converted to USD c) the balance of real USD excluding all other currencies. This is particular useful when the base currency is not the main operational currency of the system.

	== Why does NEOSYS Exchange Gains/Loss account not agree exactly with my auditor's parallel system? ==		==Why does NEOSYS Exchange Gains/Loss account not agree exactly with my auditor's parallel system?==

	If a client finds that the Exchange Gain/Loss account balances as per another parallel system is not in agreement with NEOSYS then they must sit and reconcile the two and notify NEOSYS support of anything that they discover is wrong in NEOSYS so that can fix it - otherwise we remain confident in NEOSYS without proof to the contrary.		If a client finds that the Exchange Gain/Loss account balances as per another parallel system is not in agreement with NEOSYS then they must sit and reconcile the two and notify NEOSYS support of anything that they discover is wrong in NEOSYS so that can fix it - otherwise we remain confident in NEOSYS without proof to the contrary.

	In general:		In general:
	# Locate the incorrect transactions: Take a ledger account of the Exchange Gain/Loss account in order to locate the incorrect transaction. Open the voucher that made this entry and look at all the base conversions on that voucher. If the exchange rate used was wrong, that could be the reason for the discrepancy.
	# Try running the NEOSYS revaluation program on the journals menu. This will ensure that the NOMINAL base currency balance in all accounts is in exact agreement with the REAL currency balance in those accounts		#Locate the incorrect transactions: Take a ledger account of the Exchange Gain/Loss account in order to locate the incorrect transaction. Open the voucher that made this entry and look at all the base conversions on that voucher. If the exchange rate used was wrong, that could be the reason for the discrepancy.
	# Rounding rules can be different in different systems so that may account for 1 or 2 cent differences per transaction and this can can add up to greater differences in total.		#Try running the NEOSYS revaluation program on the journals menu. This will ensure that the NOMINAL base currency balance in all accounts is in exact agreement with the REAL currency balance in those accounts
			#Rounding rules can be different in different systems so that may account for 1 or 2 cent differences per transaction and this can can add up to greater differences in total.

	==What do I do if I am not happy with the balance of an account?==		==What do I do if I am not happy with the balance of an account?==
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	[[image:recurring2.jpg]]		[[image:recurring2.jpg]]

	== How to do depreciation using Recurring Journals ==		==How to do depreciation using Recurring Journals==

	Recurring Journal entries can be used to post depreciation periodically.		Recurring Journal entries can be used to post depreciation periodically.

Arvind: /* Why do VAT amounts stay in originating company accounts? */

2018-10-23T07:19:15Z

Why do VAT amounts stay in originating company accounts?

← Older revision		Revision as of 07:19, 23 October 2018
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	The VAT amount, in an intercompany posting, will remain in the originating company account and only the NET amount will be posted to the other company.		The VAT amount, in an intercompany posting, will remain in the originating company account and only the NET amount will be posted to the other company.

	This ensures that when you print/export the journals for one company, the total of the VAT column agrees with the VAT report for that company, this helps ~~makes~~ auditing easier.		This ensures that when you print/export the journals for one company, the total of the VAT column agrees with the VAT report for that company, this helps make auditing easier.

	Also if you issue an invoice for company X then even, if for example, you post the income of that invoice to another company, the VAT on the invoice still has to be shown under the company of the invoice.		Also if you issue an invoice for company X then even if, for example, you post the income of that invoice to another company, the VAT on the invoice still has to be shown under the company of the invoice.

	==How do I get a break down of the WIP/ACCRUAL?==		==How do I get a break down of the WIP/ACCRUAL?==

Joel: /* Why is ledger printout truncating account name from voucher details field */

2018-10-15T05:43:35Z

Why is ledger printout truncating account name from voucher details field

← Older revision		Revision as of 05:43, 15 October 2018
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	If the account name is mentioned in the details column of the voucher, the system will automatically drop the account name from the details column while taking the account's ledger printout. This is done because there is no need to show the same account name over and over on all rows of the report when the account name is already mentioned in the report heading.		If the account name is mentioned in the details column of the voucher, the system will automatically drop the account name from the details column while taking the account's ledger printout. This is done because there is no need to show the same account name over and over on all rows of the report when the account name is already mentioned in the report heading.

	~~=== How to setup and post inter company transactions and how are VAT amounts are handled===~~

	~~Please refer to: [[How_to_setup_inter_company_accounts_and_do_inter_company_postings \| How to setup inter company accounts and do inter company postings]]~~