V: Transactions

5.1 Overview

        Accounting transactions is a financial activity or event that involves the exchange of money or something of value between two parties. These events are recorded to keep track of how much money a business makes, spends, and owns. Every transaction affects the financial health of the business, and accountants use these records to create reports and make sure everything adds up correctly. For example, when a business sells a product, it’s an accounting transaction because money is exchanged for a product, and both the sale and the money received are recorded.

        Our EasyFS system has the following transactions:

1. Purchases

• Purchases in accounting refer to the buying of goods or services by a business. It’s when a company acquires items it needs to operate, such as raw materials for manufacturing or products for resale. When you spend money to get something for your business, it’s a purchase.

2. Sales

• Sales are transactions where a business exchanges goods or services for money. It’s the process of transferring ownership of a product or providing a service in exchange for payment.

3. Inventory

• Inventory in accounting refers to the goods a business holds for the purpose of resale. It includes items a company has purchased or produced but has not yet sold.

4. Financials

• Generates the Balance Sheet, Income Statement, Cash Flows Statement, Trial Balance, General Ledger and General Journal.

5.2 Purchases Transaction Module

The purchasing process in accounting involves a series of steps that outline the flow of a procurement transaction, from the identification of a need to the payment of suppliers.

Supplier Creation/Management

• Create and manage supplier records within the system, including contact information, Email, TIN (Tax Identification Number),  and payment terms.
• Assign unique Supplier Code for easy tracking.

Purchase Request

• When a department identifies a need for goods or services, a purchase request is generated.
• The purchase request includes details such as the items or services required, quantities, and any specific requirements.

Purchase Order

• Based on the approved purchase request, a purchase order is created and sent to the supplier.
• The purchase order includes details like the quantity, price, and description of the items or services.

Receiving Receipt

• Upon receiving the goods or services, a receiving receipt is generated to confirm that the items have been received in the quantity and condition specified in the purchase order.
• Inventory Code is generated upon making the Receiving Receipt. This will monitor the Inventory of the Item being encoded
• Update inventory levels if applicable.

Accounts Payable

• Record the purchase in the accounts payable ledger.
• Accounts payable represents the amount the business owes to suppliers for the received goods or services.
• Accounts Payable Formula is computed as Receiving Receipt less Disbursement less Debit Memo

Disbursement (Payment)

• Issue payment to the supplier based on the terms specified in the purchase order and agreed-upon payment terms.
• Payment methods may include checks, electronic transfers, or other agreed-upon methods.

Debit Memo (if necessary)

• If there are issues with the received goods or services, such as damaged items or discrepancies, a debit memo may be issued to adjust the accounts payable balance.
• Update records to reflect the debit memo.

Purchasing Module Reporting and Analytics

• Monitor and analyze purchasing performance, accounts payable aging, and other relevant metrics.
• Generate reports to gain insights into the financial aspects of the procurement process.
• Integration with General Ledger, Income Statement and Balance

5.2.1 Purchase Request

Overview

This is where you input the entire purchase request needed.

Purchase Request List

List of all the PR (Purchase Request) and will also show the overview of the transaction. In addition, it also has filter functionality where you can select the Start and End Date of the transaction.

Purchase Request Detail

To add a new Purchase Request, go to Purchases then click Purchase Request. After that,  click the Add that can be seen in the Purchase Request list.

Fill out all the needed information for the Purchase Request Detail like,

• Currency
• Supplier Name
• PR Date
• Term
• Document Reference

1. To add line Item(s), click the Add button on the right part of the page under the Items tab.

2. Select the items, by clicking the Pick button.

3. Once the Pick button is clicked, fill out the quantity and the cost. For Particulars, put NA if nothing to provide.

4. After providing the Quantity, Cost and Particulars, click the Save button.

5. If you wish to add additional items, repeat Steps 4 up to 6.

6. If you’re done adding line items, just click the Close button to hide the popup.

Review the Purchase Request you created. If it is all good, click the Save button, then Lock button.

Purchase Request Transaction via Upload Template

1. To add a Purchase Request Transaction via Uploading, go to the Purchase Request list then Click Functions.
2. Select Down PR File Format – an excel file will be downloaded. This is the file format where you will edit or encode the items or information that is needed in the PR.
   
   2.1. In the Excel File:

A. Manual Code – should be unique per transaction, alphanumeric and Special Characters, should not exceed 255 characters.

Example :   1‘23`4!5@6#7$8%9^0&a*b(c)d_e+f=g{h}i[j]k|l\m/n:o;p”q<r>st?u v.w

• If the Manual Code starts with 000, don’t forget to put an apostrophe (‘) at the beginning of the Manual Code.

Example :  ‘00000111231414

• If the Manual Code starts with a number but exceeds more than 10 digits, format the cell to text to show all the numbers.

 Steps on how to change the format to Text:

1. Right Click the Cell
2. Click Format Cell
3. Choose Text
   
4. Click OK
5. Then reselect the field
   

B. Document Reference – should be unique per transaction, alphanumeric and special Characters should not exceed 255

Example: 1‘23`4!5@6#7$8%9^0&a*b(c)d_e+f=g{h}i[j]k|l\m/n:o;p”q<r>st?u v.w
– if the Document Reference starts with 000, don’t forget to put an apostrophe (‘) at the beginning of the Manual Code.
Example: ‘00000111231414

 – if the Document Reference starts with a number but exceeds

more than 10 digits, format the cell to Text to show all the

Numbers. Follow the steps in manual number.

C. Particulars – in this column this is basically the remarks for each item line, it can be alphanumeric and Special Characters, should not exceed 255 Characters.

D. Remarks – in this column this is basically remarks for the whole transaction, it can be alphanumeric and Special Characters should not exceed 255 characters.

E. Transaction Date and Date Needed – Transaction Date Is the date of PR or when it was created. Date Needed it can be after or on the date of the PR, the format of both Transaction and Date needed should be (yyyy-mm-dd)

F. TermCode – on this column you have to input the manual code of the Term. The manual code of the term can be found in the system tables then select terms.

G. Supplier Code – on this column you have to input the manual code of the suppliers. The manual code of the supplier can be found in the supplier list or supplier detail.

H. CurrencyCode and Exchange Rate – On CurrencyCode you have to input the manual code of the currency which can be found in the Currency Setup. Exchange Rate needs to input the exchange rate of that specific currency of the day.

I. BarCode, Quantity and Cost – BarCode is the code for each item that is added in the system, Quantity is the quantity of each item on how many quantities need to purchase and the Cost is the cost when purchasing the item.

NOTE :  The Maximum Number of Lines that can be uploaded via importing  is only up to 1000 Lines.

Cancel Purchase Request Transaction

When you need to cancel a purchase request, it’s important to follow these simple steps:

1. Log In: Visit your easyFS domain and login with your username and password.
2. Find your Purchase Request: Navigate to the Purchases, then Purchase Request. You will be redirected to the Purchase Request lists.

3. Locate the Right One: From the Purchase Request list, you may use the search bar to look for the right Purchase Request you want to cancel. You can search using the Purchase Request’s RR Number, Manual Number, Document Reference, etc.

Take note: Don’t forget to change the Start Date and End Date to your Purchase Request’s transaction date to display the correct result.

4. Open the Purchase Request Detail: Click the Edit button to open the Purchase Request detail page.

5. Cancel the Purchase Request: To cancel your Purchase Request transaction, look for the Cancel found on the upper-right part of the page, then click.

6. Confirm Canceling: After you click the Cancel button, there’s a Cancel Purchase Request window. If you’re sure you want to cancel your Purchase Request transaction, click the Cancel button.

7. Check It’s Done: After canceling, make sure you get a success toast message confirming it’s canceled successfully. It is found on the bottom right of the page.

8. Let Others Know(if needed): If you believe canceling affects other people, it’s a good idea to inform them.
9. Keep Track: Remember to make a note somewhere that you canceled the Purchase Request, just in case it is needed later.
   

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5.2.2 Purchase Order

Overview

                This is to finalize the purchases for the company.

Purchase Order List

• List of all the PO (Purchase Order) and will also show the overview of the transaction.
• Here, you can also filter the Start and End Date of the transaction  and the button to add a new PO.

Purchase Order Detail

1. To add a new Purchase Order, go to Purchases then click Purchase Request. After that, click the Add that can be seen in the Purchase Order list.

2. Fill out all the needed information for the Purchase Order Detail like,

• Currency
• Supplier Name
• PO Date
• Term
• Document Reference

3. To add line Item(s), click the Add button on the right part of the page under the Items tab.

4.  Choose either Locked Article (Items) or Purchase Request tab.

5. If you already have a Purchase Request, you can select that PR by clicking on the PR Number. Once clicked it will pop up all the PR that was not yet created as PO.

6. Then to add that Purchase to the Purchase Request, click the Pick button beside the Branch column.

7. After clicking the Pick button, it will automatically display the list of items based on your chosen Purchase Order.

8. Select the items, by clicking the Pick button.

9. Once the Pick button is clicked, fill out the quantity and the cost. For Particulars, put NA if nothing to provide.

10. After providing the Quantity, Cost and Particulars, click the Save button.

11. If you wish to add additional items, repeat Steps 8 to 10.
12. There’s no need to worry if you don’t have a Purchase Order since you can automatically select the items. Just go directly from steps 8 to 10 after clicking the Locked Article tab that is mentioned on Step 4.
13. If you’re done adding line items, just click the Close button to hide the popup.

14. Review the Purchase Order you created. If it is all good, click the Save button, then Lock button.

Purchase Order Transaction via Upload Template

1. To add a Purchase Order Transaction via Upload Template, go to Purchase Order List then Click Functions
2. Click Optimized Upload
3. Select Download PO File Format – an excel file will be downloaded. This is the file format where you will edit or encode the Items that you need to PO.
   3.1 In the Excel file:
   A. Manual Code should be unique per transaction, alphanumeric and Special transaction, should not exceed 255 characters.

Example: 1‘23`4!5@6#7$8%9^0&a*b(c)d_e+f=g{h}i[j]k|l\m/n:o;p”q<r>st?u v.w
                – if the Manual Code starts with 000, don’t forget to put an apostrophe (‘) at the beginning of the Manual Code.
Example: ‘00000111231414
                – if the Manual Code starts with a number but exceeds more than 10 digits, format the cell to Text to show all the numbers.

                Steps on how to change the format to Text:
1. Right Click the Cell
2. Click Format Cell

3. Choose Text

4. Click OK
5. Then reselect the field

B. Document Reference should be unique per transaction,alphanumeric and special characters should not exceed 255 characters.
Example: 1‘23`4!5@6#7$8%9^0&a*b(c)d_e+f=g{h}i[j]k|l\m/n:o;p”q<r>st?u v.w
 – if the Document Reference starts with 000, don’t forget to put an apostrophe (‘) at the beginning of the Manual Code.
Example: ‘00000111231414
 – if the Document Reference starts with a number but exceeds more than 10 digits, format the cell to Text to show all the numbers.

Steps on how to change the format to Text:

1. Right Click the Cell

2. Click Format Cell

3. Choose Text

4. Click OK
5. Then reselect the field

 C. Particulars – in this column this is basically the remarks for each item line, it should be alphanumeric and Special characters should not exceed 255 characters.

 D. Remarks – in this column are basically the remarks for the whole transaction, it should be alphanumeric and Special characters should not exceed 255 characters.

 E. Date Needed and PO Date – PO Date is the date of PO or  when it was created. Date Needed it can be after or on the date of the PO date, the format of the PO Date and Date Needed should be

                ( yyyy-mm-dd )

F. Supplier and SupplierID – Select supplier from the dropdown  and choose the supplier, SupplierID will correspond to the selected supplier. Never edit the supplierID since it will automatically change after selecting the supplier.

G. Term and TermID – Select term from the dropdown and choose the term, TermID will correspond to the selected Term. Never edit the termID since it will automatically change after selecting the Term.

H. Currency and CurrencyID – Select the Currency from the dropdown and choose the supplier, CurrencyID will correspond to the selected currency. Never edit the CurrencyID since it will automatically change after selecting the currency.

I.  Exchange Rate and Status – exchange rate is the rate that is used to convert the currency, Status is the status of the transaction, just select the status from the dropdown.

J. ItemID, Item Description, Cost, UnitID and Unit – all these fields are related to the Item. Once the barcode is selected all these fields will also change depending on the barcode that was selected.

K. Quantity – Input the quantity that needed to be ordered from the supplier.

4. Go Back to the Purchase Order List Transaction

1. Click Function
2. Click Optimize Upload
3. Click Import Purchase Order
4. After Importing, Go to Draft Purchase Order

1. Click Validate
2. Click Post

5. Lock the Transaction

Cancel Purchase Order Transaction

When you need to cancel a purchase order, it’s important to follow these simple steps:

1. Log In: Visit your easyFS domain and login with your username and password.
2. Find your Purchase Order: Navigate to the Purchases, then Purchase Order. You will be redirected to the Purchase Order lists.

3. Locate the Right One: From the Purchase Order list, you may use the search bar to look for the right Purchase Order you want to cancel. You can search using the Purchase Order PO NUmber, Manual Number, Document Reference, etc.

Take note: Don’t forget to change the Start Date and End Date to your Purchase Order’s transaction date to display the correct result.

4. Open the Purchase Order Detail: Click the Edit button to open the Purchase Order detail page.

5. Cancel the Request: To cancel your Purchase Order transaction, look for the Cancel found on the upper-right part of the page, then click.

6. Confirm Canceling: After you click the Cancel button, there’s a Cancel Purchase Order window. If you’re sure you want to cancel your Purchase Order transaction, click the Cancel button.

7. Check It’s Done: After canceling, make sure you get a success toast message confirming it’s canceled successfully. It is found on the bottom right of the page.

8. Let Others Know(if needed): If you believe canceling affects other people, it’s a good idea to inform them.
9. Keep Track: Remember to make a note somewhere that you canceled the Purchase Order , just in case it is needed later.