NEO Version 5.1.34.X General Ledger System New Features

□	Welcome to the Summary Page which describes the major New Features added to the General Ledger System within the MKMS NEO Version 5.1.34.X Release.

•	This New Features Table contains three columns of data relating to each of these New features:

1.	Program Module(s) Affected - This column lists the specific modules that were improved.

2.	Chapter Links - This column lists of the link(s) to the chapter(s) where the previous instructions, illustrations and explanations have been revised to reflect the program changes and/or enhancements.

3.	Description of the Enhancement - A brief explanation of the new features, functions and enhancements that have been added in this release with links to all of the affected chapters and some related chapters, also.

□	Understanding the New features Chart:

•	All of the Program Module(s) that are Affected are listed.

•	The Chapter Links are provided for finding the instructions, illustrations, and details on the operation and usage of the new feature(s).

•	A brief Description of the Enhancement is shown, sometimes with additional Chapter Links.

Program Module(s) Affected

Chapter Links

Description of the Enhancement

General Ledger System

Accounts Receivable System

Earned and Deferred Revenues

Post Deferred Revenue

This DeferRecurringRevenue option also controls a second functionality:

▪

When the DeferRecurringRevenue option is set to True ("T"), Earned and Deferred Revenues are tracked for each Recurring Revenue Detail Line Item on those Invoices created within the Accounts Receivable and will be recorded in the General Ledger System using the Post Deferred Revenue dialog which will periodically calculate, distribute, and post Deferred and Earned Revenues to the appropriate General Ledger Accounts and the Transaction File.

▪	The Earned/Deferred Revenue report lists the Earned and Deferred Revenues that are automatically calculated as part of the Recurring Revenue Billing procedure.

▪	The new Post Deferred Revenue Form is used to execute the Post Deferred Revenue procedure which is used to periodically distribute Earned and Deferred Revenues to the appropriate General Ledger Accounts.

▪	This Post Deferred Revenue procedure is available as a Specific Event selection in the System Audit Report.

General Ledger System

General Ledger (New Reports)

Balance Sheet

Income Statement

A new General Ledger (New Reports) sub-menu with a Balance Sheet and an Income Statement option has been added to the General Ledger Reports Menu.

The New Balance Sheet dialog - which by default reports Account Balances for All Departments and All Divisions for a selected Month and Year - also provides filters for limiting the report to User specified Division's and/or Department's Account Balances - for the Company's Asset, Liability and Equity Account Balances.

▪	These Balance Sheet Account Balances can also (optionally) be Grouped by Division and/or Department.

2.	The New Income Statement dialog - which by default reports Account Balances for All Departments and All Divisions for a selected Month and Year - also provides filters for limiting the report to User specified Division's and/or Department's Account Balances of the Company's Sales and Expenses.

General Ledger System

Profit & Loss Comparison

The Profit & Loss Comparison report, which compares the results of a selected Year to the Year immediately prior, now may report by Year, or by a specified Month / Year combination, and for All or a set of (one or more) Departments and/or Divisions.

General Ledger System

General Ledger Detail Report

The General Ledger Detail Report dialog and the information presented within the General Ledger Detail Report has now been improved to make it more usable by including:

▪	An option to exclude the Balance Forward Value.

▪	A Drop-Down Selection List is provided to Choose a specific General Ledger Account to be individually reported.

▪	The Bill's Invoice Number (instead of the Bill ID)

▪	The Receipt's Check Number (instead of the Receipt ID).

General Ledger System

Transaction File

The new Transaction File Form allows a User to locate and select a range of General Ledger System Financial Transactions, look up the original document that created the Financial Transaction and print (and/or export those transactions) to a report containing only those specifically selected Financial Transactions.

▪

A new Filter tab for specifying the Date Range, Division(s), Department(s), associated Document Types (e.g., Refunds, Sales, Bills, Payments, Bank Transactions), General Ledger Account(s), Transaction Types (e.g.,General Journal Entries, Payroll Imports, Inventory Adjustments), and/or for whom those Financial Transaction were created (i.e., Subscribers or Vendors).

▪	A new Summary View tab on the Transaction File dialog groups Financial Transactions by General Ledger Account Number with a Drill-Down feature to show all the Transaction File Detail for that Account Number.

▪	The Financial Transaction's data columns may be relocated, as needed.

▪	This Transaction File Form also now has a Division and an Internal Note column.

General Ledger System

Transaction File Report

In the Transaction File Report, you may now choose to list only those Financial Transactions that were posted to a specified Division or Division Group, and a column with that information is now included on the report.

General Ledger System

Budget Adjustment

The new Budget Adjustment Form is used to modify Budget Line Item(s), as needed, to refine the Budget Calculations that were created using the Budget Declaration Form.

General Ledger System

Budget Declaration

The new Budget Declaration Form is used to initialize, and subsequently produce the Budget Calculations required to create the Budget Declaration:

General Ledger System

Budget Report

The new Budget Report provides a summarized Budget versus Actual listing of Sales and Expenses related General Ledger Transactions for the Current, the Quarter To Date and Year To Date Periods, based on the Options that are selected.

General Ledger System

Quarterly Comparison

The new Quarterly (Budget) Comparison report provides Budget versus Actual listing of Sales and Expenses related General Ledger Accounts for the selected Year and optionally, filtered for a Specific set of (one or more) Departments based on the Options that are selected.

General Ledger System

General Journal

General Journal Template

▪	As each additional General Journal Transaction is entered, the Description for that new entry will default to the Description of the most recent previous entry.

▪	The General Journal Form now has a Division column.

▪	The General Journal Template Form now has a Division column.

General Ledger System

Income and Expense Chart

The revised Income and Expense Chart report provides a Bar Chart and Legend of the Company's Income and Expense Totals by comparing the results of a selected range of Years spanning up to ten Years, or comparing a range of Months spanning up to five Years, and now optionally with the reported limited to a selected Department or a selected Division, if desired.

General Ledger System

Yearly Income Statement

The new Yearly Income Statement presents a detailed Profit & Loss Statement for a specified calendar Year for All, or a specifically selected set of (one or more) Departments and/or a specified Division.

General Ledger System

Yearly Balance Sheet

This Balance Sheet report provides a Yearly Balance Sheet (i.e., a report listing the Assets, Liabilities and resulting net Equity for a specified Year) for any (User Selectable) Year within which Financial Transactions have been posted after the Set-Up Wizard for the General Ledger System was successfully executed.

General Ledger System

General Journal Listing

The General Journal Listing now provides:

▪	On a month by month (or selectable Date Range) basis - a report of all or specified (i.e., by Bank, Amount or General Ledger Account Number) Financial Transactions that were manually entered using the General Journal Form.

▪	On a month by month (or selectable Date Range) basis - a report with the option to be created based on a specified Division or Division Group.

▪	A Division column.

General Ledger System

General Ledger Accounts

Departments

Filter - Because certain General Ledger Accounts and/or Departments may no longer be in use, an Account and/or Department may now be marked as Inactive

▪	When viewing this General Ledger Accounts or the Department Form the User may now specify whether to see All Accounts/Departments, only Active Accounts/Departments, or only Inactive Accounts/Departments, as needed.

General Ledger System

Profit & Loss with Budget Comparison

The new Profit & Loss with Budget Comparison report (also referred to as an Income Versus Budget Report) compares Revenue to Expenses for All or a selected set of (one or more) Departments and/or Divisions, for the Current Month and Year to Date, or optionally for a selected Month and Year to Date; reporting the Budget Variance for each General Ledger Account.

General Ledger System

General Ledger Set Up Overview

Once the General Ledger System is operational, if - for whatever reason - the Trial Balance becomes "Out of Balance", a Warning Message will be displayed at Login when the User who has Logged In is either an Administrator (Admin) or has been granted the Super User Authority.