The Financial functional area is used to store and report on all the General Ledger data for the company. The main tasks performed include configuring the chart of accounts, managing checkbook balances, maintaining the fiscal calendar, and entering journal entries. The Financial functional area integrates across all functional areas.

[ 1 Key Definitions ] [ 2 Master Files ] [ 3 Transactions ] [ 4 Routines ] [ 5 Inquiries ] [ 6 Reports ] [ 7 Configuration Sequence ]

Key Definitions

This section identifies common terms used throughout this Functional Area. This is not intended to be an alphabetized "Glossary of Terms" but is organized in a logical sequence to group similar terms together. The goal is to ensure we use common language that provides context to baseline NorthScope concepts.

Term	Definition

Term	Definition
Fiscal Calendar
Balance Sheet
Income Statement
General Ledger
Control Account
Control Account Types	AP - Broker Balances FA - Fishermen Balances FA - Loan/Note Balances GA - Grower Balances AP - Vendor Balances AR - Customer Balances Checkbook Retained Earnings

Master Files

This section identifies each Master File (including a link to the Page Help), the Parent Folder it is listed under in the menu, and links to related User Guides.

Master File	Parent Folder	Overview	Related User Guide

Master File	Parent Folder	Overview	Related User Guide
Fiscal Periods	Configuration	Fiscal Periods: Fiscal Years: Areas to Review Describe what users do from here each month Describe what users do from here each year Describe how these setting impact NorthScope	Managing the Fiscal Calendar
GL Account Format	Configuration	Areas to Review Adding Segments and when Segments are added Identifying the Natural Account and what it means Adding Segment Values and when Segment Values are added
GL Account Class	Configuration	Areas to Review Describe what an Account Class 'Category' is used for Describe how the 'Sort' field is used Describe adding Account Classes
GL Accounts	Setup	Areas to Review Posting Type - Balance Sheet vs Income Statement Category - Based on the Posting Type Account Class - Based on the Category Account - Must follow the Account Segment Setup Account Description Control Account Type Typical Balance Inactive Use In Options (GL and AP are used, the others are not)
Checkbooks	Setup	Areas to Review Types of Checkbooks typically setup Checkbook Currency Cash Account - Lookup of Active Checkbook Control Accounts Checkbook Balance - Current Balance of all 'Posted' Checkbook Transactions Last Reconciled Balance - Balance of last reconciled bank statement Next Check # Enable ACH - If yes the ACH Fields must be properly configured including: Next ACH#, Bank, Name on Account, Routing #, and Account #
Project Class	Configuration	Areas to Review Adding Project Classes
Projects	Setup	Areas to Review What these are used for and where these are used in NorthScope Assigning Project ID's - From the Preference Project Class Project Start Date - Required Project End Date - Not required Project Budgets Open to Sales - Not plugged in Open to Purchasing Always open to the GL
Preferences	Configuration	Key Preferences: Retained Earnings GL Account

Transactions

This section identifies all the Transactions (including a link to the Page Help), an overview of suggested training topics for each, and links to all applicable User Guides.

Transaction	Overview & Training Outline	Related User Guides

Transaction	Overview & Training Outline	Related User Guides
Journal Entry - Manual	Areas to Review What types of Journal Entries are manually entered Who makes them Header Comment Header Reference Line Items - GL Accounts Entering Amounts Distributing to a Project Line Comments Multi-Currency Journal Entries
Journal Entry - Accrue & Reverse	Areas to Review Identify the differences from Manual Journal Entries Identify examples of Accrue & Reverse Journal Entries
Journal Entry - Reverse/Correct	Areas to Review Overview of why these are needed Describe what happens when a Journal Entry is reversed Describe what happens when a Journal Entry is corrected Describe what Type(s) should be Reversed and which should not
Checkbook - Adjustment	Areas to Review Overview of why these are needed What happens to the General Ledger when these are posted What happens to the Checkbook Balance when these are posted How these are Reconciled
Checkbook Deposit	Areas to Review Overview of why these are needed What happens to the General Ledger when these are posted What happens to the Checkbook Balance when these are posted What happens to AR & FA Payment Receipts when these are posted How these are Reconciled
Checkbook Transfer	Areas to Review Overview of why these are needed What happens to the General Ledger when these are posted What happens to the Checkbook Balance when these are posted How these are Reconciled
Checkbook Reconciliation	Areas to Review Overview of why these are needed What transactions are Reconciled What are the requirements to post a Reconciliation What happens to the Checkbook Balance when Reconciliations are posted

Routines

Routine	Overview	Related Page Help	Related User Guides

Routine	Overview	Related User Guides
Opening / Closing Fiscal Periods	What is an Open Period vs a Closed Period? When are Periods opened and closed? What happens when a Period is closed? Series - Financial Series - Sales Series - Purchasing Series - Inventory Series - Payroll What factors determine opening and closing periods? Who manages this?	Month-end Close Procedures
Year-End Close	What is an Open Year vs a Closed Year? When are Years opened and closed? What factors determine opening and closing years? Who manages this? What happens when a Year is closed?	Year-end Close Procedures
Year-End Reverse	Why you would reverse a Year-end What happens when you reverse a Year-end

Inquiries

This section identifies each of the Inquiries used throughout this Functional Area, listed by Inquiry Type, with an overview for each.

Inquiry Type	Inquiry Name	Overview

Inquiry Type	Inquiry Name	Overview
General Ledger	Journal Entry History	An inquiry that contains a list of all the Journal Entries that hit the General Ledger.
General Ledger	Journal Line History	An inquiry that contains all the Journal Entry Lines from all the Journal Entries that hit the General Ledger. This inquiry can be run from the Inquiries menu or as a drill through from the GL Account Balances inquiry
Balances	GL Account Balances	An inquiry that is run from the GL Account Balances page, that shows all the GL Accounts and their current balances.
Balances	GL Account Balances by Period	An inquiry that that shows the balances for one or more GL Accounts by GL Period. This inquiry can be run from the Inquiries menu or as a drill through from the GL Account Balances inquiry.
Checkbook	Checkbook Reconciliation Inquiry
	Checkbook Register Inquiry	An inquiry that shows each individual payment Payment made from a Checkbook.
	Checkbook Transaction Inquiry	An inquiry that shows all the transactions that impact the Checkbook Balance and will be included on a Reconcile including: Adjustments, Deposits, Transfer: Sent, Transfer: Received, and Payments made. In this inquiry ACH Payments are shown at the 'Batch' level, not by individual payment.
Other	ACH Batch Inquiry	An inquiry to show each ACH Batch that was created. By default, this inquiry shows ACH Batches that have not had the text file created.
Other	Project Transaction History	An Inquiry to show all the transaction line items that have posted with a Project assigned. This includes AP Invoices, AP Credit Memos, and Journal Entries.

Reports

This section identifies each of the Reports that are shipped in this Functional Area. Reports are grouped by Report Type and include the Report Name and the Display Name as well as an overview for each report.

Report Group	Launches From	Report Type	Report Display Name	Overview

Report Group	Launches From	Report Type	Report Display Name	Overview
ACH	Print Dialog	Export Only	ACH File	A text file that contains the details for the bank to issue ACH Payments. This is generated when you are ready to upload the ACH text file to your bank.
		Check	ACH Remittance	A report that takes the place of a Check & Check stub for ACH Payments. This is generated, and given to the Fisherman or Vendor, when you issue an ACH Payment.
		Transaction Review	ACH Batch Detail Edit	A report that shows the detail payments that make up one or more selected ACH Batches.
Bank Reconciliation	Print Dialog	Transaction Review	Cleared Transactions	A report that identifies all the transactions that are currently assigned to a Reconciliation Transaction. This is typically printed and filed, as backup, with the Bank Statement you just reconciled.
		Transaction Review	Outstanding Transactions	A report that identifies all the transactions that are not reconciled and not currently assigned to a Reconciliation Transaction. This is typically printed and filed, as backup, with the Bank Statement you just reconciled.
		Transaction Review	Reconciliation Summary	A report that shows the summary totals for each type of reconcile balance. This is typically printed and filed, as backup, with the Bank Statement you just reconciled.
	Reports Page	Transaction Review	Outstanding Transactions by Checkbook	A report that identifies all the checkbook transactions that have not been included on a Reconcile transaction. This is typically printed and reviewed when a Reconcile has been completed. This identifies all the transactions that have not cleared the bank. It is also used to determine if the "Checkbooks Cash Account" is in Balance. [GL Balance/Trial Balance] = [Bank Statement Ending Balance] + [Undeposited Receipts] + [Outstanding Deposits] - [Outstanding Payments] + [Outstanding Adjustments].
	Reports Page	Transaction Review	Undeposited Receipts	A report that identifies all the Payment Receipts that have been posted but not yet assigned to a Deposit.
Financial Reports	Reports Page	Transaction Analysis	Trial Balance
		Transaction Analysis	Balance Sheet
		Transaction Analysis	Income Statement
Journal Entry	Print Dialog	Transaction Review	Journal Entry Edit List	An edit report that shows the details of one or more journal entries.
Journal Entry	Reports Page	Transaction Analysis	Ledger Account Detail	A report to show the transaction line item details that make up a GL Account Balance.
Year-End	Reports Page	Transaction Analysis	Beginning Balances	A report that shows all Beginning Balances for every Balance Sheet Account at the start of a new GL Year.

Configuration Sequence

This section identifies a logical sequence for configuring this Functional Area. This is not intended to be a detailed project plan, but rather a simple guide for what need to be configured.

Seq.	Page	Navigation Path	User Guide	Blocked By	Required	Comment

Seq.	Page	Navigation Path	User Guide	Required
1.	Fiscal Periods	Financial → Configuration → Fiscal Periods	Managing Fiscal Periods	Yes
2.	GL Account Format	Financial → Configuration → GL Account Format	Configuring your Chart of Accounts	Yes
3.	GL Account Class	Financial → Configuration → GL Account Class