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User Guide
00-21-602-35062

SAGE SOFTWARE
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© 2006 Sage Accpac International, Inc. All rights reserved.

Sage Accpac International, Inc.

Publisher

No part of this documentation may be copied, photocopied, reproduced, translated,

microfilmed, or otherwise duplicated on any medium without written consent of Sage Accpac
International, Inc.

Use of the software programs described herein and this documentation is subject to the Sage
Software License Agreement enclosed in the software package. You can review the license
agreement at any time. Within Simply Accounting, select Help; then select About Simply
Accounting; and then select View End-User License Agreement.

The Sage Software logo, the Simply Accounting logo, Simply Accounting, SimplyCARE and
SimplyNet are registered trademarks or trademarks of Sage Software, Inc. or its affiliated
entities. Crystal Reports is the registered trademark and technology of Business Objects SA.
All other trademarks are the property of their respective owners.

ACCPAC INTERNATIONAL
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Contents

Part 1: Setting Up

Chapter 1: Introduction
What You Need to Do ...............................................................................................................1–1
International Coverage..............................................................................................................1–1
Where To Now?..........................................................................................................................1–2

Chapter 2: Setting Up Accounts

Choose a Typical Set of Accounts for Your Business ............................................................2–1
Add or Change Accounts..........................................................................................................2–3
Account Types.....................................................................................................................2–3
Account Numbering ...........................................................................................................2–4
Accounting by Departments..............................................................................................2–6
Adding Accounts ..............................................................................................................2–10
Add GIFI Codes ................................................................................................................2–11
Assign Account Classes ...................................................................................................2–12
Set Up Bank Accounts .............................................................................................................2–13
Set Up Linked Accounts..........................................................................................................2–14
Consolidating Data from Several Companies ......................................................................2–16
Keeping and Comparing Additional Years of Financial History ......................................2–17
Keeping Track of Changes in Account Names or Numbers .......................................2–17
Set Up Accounts for Reconciliation .......................................................................................2–19
Before You Start.................................................................................................................2–19
Two Steps to Setting Up...................................................................................................2–19
Tips for Reconciling Credit Cards ..................................................................................2–22
Check Your Chart of Accounts...............................................................................................2–22

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Chapter 3: Entering Basic Settings and Options

Enter Background Information about Your Company......................................................... 3–1
Set Up Sales Taxes ..................................................................................................................... 3–4
List the Sales Taxes You Use ............................................................................................. 3–5
Set Up Tax Codes................................................................................................................ 3–6
Enter Tax Codes for Vendors and Customers ................................................................ 3–8
Enter Tax Information for Inventory Items..................................................................... 3–9
Tax Exemptions for Vendors, Customers, and Items .................................................... 3–9
Set Up Payroll Options ........................................................................................................... 3–10
Change Income and Deduction Names......................................................................... 3–10
Enter Canadian Payroll Tax Information ...................................................................... 3–11
Enter U.S. Payroll Tax Information ................................................................................ 3–13
Set Up Linked Accounts for Payroll............................................................................... 3–14
Enter Payment Options for Vendors and Customers ......................................................... 3–17
Set Up Shippers........................................................................................................................ 3–19
Set Up Printing and E-mail Options in Simply Accounting .............................................. 3–19
Enter Options for Orders, Invoices, and Other Forms ................................................ 3–20
Add Standard Comments to Invoices and Other Forms............................................. 3–21
Set Up Fields to Store Additional Information .................................................................... 3–22
In Records .......................................................................................................................... 3–22
In Transactions.................................................................................................................. 3–24
Create Job Categories .............................................................................................................. 3–25
Customize Colours and Fonts for Reports ........................................................................... 3–27
Set Display Preferences........................................................................................................... 3–28
Modify Transaction Windows ........................................................................................ 3–30
Date Format .............................................................................................................................. 3–31
Switch between Different Languages ................................................................................... 3–32
Set Up Users ............................................................................................................................. 3–33
What Type of Security Do You Need?........................................................................... 3–34
Setting Up or Changing a Password for the System Administrator.......................... 3–37
Adding or Changing a User ............................................................................................ 3–38
Changing a Password for a User .................................................................................... 3–40
Changing a User’s Rights to Use Data........................................................................... 3–41
Deleting a User’s Password............................................................................................. 3–42
Deleting a User.................................................................................................................. 3–43

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Removing Security............................................................................................................3–43
Restoring a Damaged Security File ................................................................................3–44

Chapter 4: Making and Accepting Credit Card

Payments
Add Credit-Card Accounts.......................................................................................................4–1
Enter Information about Credit Cards ....................................................................................4–2

Chapter 5: Setting Up Projects

Why Would I Use Projects? ......................................................................................................5–1
Turn On the Project Allocation Option ...................................................................................5–2
Rename the Project Module......................................................................................................5–2
Decide How to Allocate ............................................................................................................5–3
Add a List of Projects.................................................................................................................5–4

Chapter 6: Setting Up a Budget

Turn on the Budgeting Option .................................................................................................6–1
Add Budget Information to the Accounts ..............................................................................6–2
Set Up Project Budgets ..............................................................................................................6–4

Chapter 7: Using Simply Accounting on a Network

Set Up Your Network ................................................................................................................7–1
Install Simply Accounting on the Network............................................................................7–2
Set Up Users and Passwords ....................................................................................................7–2
Multi-User vs Single-User Mode..............................................................................................7–3

Chapter 8: Setting Up Printers

What You Need to Do ...............................................................................................................8–1
Before You Start..........................................................................................................................8–1
Test Your Printer ........................................................................................................................8–1

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Test Reports......................................................................................................................... 8–1

Test Other Forms ................................................................................................................ 8–2
Helpful Hints.............................................................................................................................. 8–3
Troubleshooting.................................................................................................................. 8–3
Setting Negative Margins .................................................................................................. 8–4

Chapter 9: Setting Up a List of Inventory and

Services
Why You Need a List of Inventory and Service Items ......................................................... 9–1
Select Inventory Options .......................................................................................................... 9–2
Add Accounts to Keep Track of Inventory and Service Items ............................................ 9–3
Make a List of the Items and Services You Buy and Sell...................................................... 9–4
Working with Different Units of Measure ...................................................................... 9–8
Create and Maintain Price Lists............................................................................................... 9–9
Naming Price Lists ............................................................................................................. 9–9
Adding or Changing Prices on Your Price Lists .......................................................... 9–10
Assemble Items from Components ....................................................................................... 9–12
Recording the Assembly of Items................................................................................... 9–13

Chapter 10: Doing Business outside the Country

Keeping Records in Other Currencies .................................................................................. 10–1
Keep Track of Exchange-Rate Differences and Rounding ................................................. 10–2
Exchange-Rate Differences.............................................................................................. 10–2
Differences Due to Rounding ......................................................................................... 10–2
Set Up Foreign Currencies...................................................................................................... 10–4
Adding or Changing an Exchange Rate ........................................................................ 10–5
Setting the Exchange Rate “on the Fly”......................................................................... 10–6
Add Foreign-Currency Bank Accounts ................................................................................ 10–7
Decide Which Type of Foreign Pricing to Use for Sales..................................................... 10–8
Add Foreign Prices for Inventory and Service Items.......................................................... 10–9
Set Up Vendors and Customers to Use Foreign Currency .............................................. 10–10

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Chapter 11: Adding Historical Information

What Is Historical Information?.............................................................................................11–1
Decide When You Want to Add Historical Information ....................................................11–2
Add History ..............................................................................................................................11–2
Adding Account History .................................................................................................11–2
Adding Vendors and Purchases History .......................................................................11–3
Adding Customers and Sales History............................................................................11–5
Adding Payroll History....................................................................................................11–6
Adding Inventory History ...............................................................................................11–8
Adding Project History ....................................................................................................11–9
Finish Entering History .........................................................................................................11–10

Part 2: Day-To-Day Business

Chapter 12: Buying

Setting Up Options for Vendors and Purchases ..................................................................12–1
Adding Vendors.......................................................................................................................12–1
Map Payroll Authorities to Payroll Liability Accounts ...............................................12–4
Entering a Purchase .................................................................................................................12–5
Editing Taxes .....................................................................................................................12–7
Ordering Goods and Services.................................................................................................12–8
Getting a Quote from a Vendor..............................................................................................12–9
Ordering Goods and Services Based on a Quote..........................................................12–9
Receiving Goods and Services ......................................................................................12–10
Paying for Goods and Services.............................................................................................12–11
Prepaying Goods and Services......................................................................................12–12
Applying a General Prepayment to a Payment ..........................................................12–12
Remitting a Payment to a Payroll Authority......................................................................12–13
Correcting or Cancelling Purchases, Orders, and Quotes ................................................12–15
Changing or Cancelling a Purchase Invoice................................................................12–16
Changing or Cancelling a Purchase Order or Quote .................................................12–17
Manually Correcting a Purchase Invoice.....................................................................12–18
Correcting or Cancelling Payments to Vendors.................................................................12–18

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Automatically Correcting or Cancelling Payments to Vendors............................... 12–19

Manually Correcting or Cancelling Payments to Vendors ....................................... 12–20
Manually Correcting Payments to Payroll Authorities............................................. 12–20
Correcting or Cancelling Prepayments ....................................................................... 12–22

Chapter 13: Selling

Setting Up Options for Customers and Sales....................................................................... 13–1
Adding Customers .................................................................................................................. 13–1
Adding Basic Customer Information............................................................................. 13–2
Entering a Sale.......................................................................................................................... 13–4
Editing Taxes..................................................................................................................... 13–6
Entering an Order from a Customer ..................................................................................... 13–7
Giving a Quote to a Customer ............................................................................................... 13–8
Entering an Order for Goods and Services Based on a Quote.................................... 13–9
Filling an Order or Quote .............................................................................................. 13–10
Receiving Payment for Goods and Services....................................................................... 13–10
Receiving a Payment on Unpaid Invoices................................................................... 13–11
Receiving Deposits from Customers............................................................................ 13–11
Applying a General Deposit to a Customer Payment ............................................... 13–12
Correcting or Cancelling Sales, Orders, and Quotes ........................................................ 13–12
Changing or Cancelling a Sales Invoice ...................................................................... 13–13
Changing or Cancelling a Sales Order or a Quote ..................................................... 13–15
Manually Correcting a Sales Invoice ........................................................................... 13–15
Correcting or Cancelling Payments From Customers ...................................................... 13–16
Automatically Correcting or Cancelling Payments from Customers...................... 13–16
Manually Correcting or Cancelling Payments from Customers.............................. 13–17
Correcting or Cancelling Deposits ............................................................................... 13–18
Accepting a Customer Return.............................................................................................. 13–19
Offering a Customer a Refund...................................................................................... 13–19
Issuing a Credit Note ..................................................................................................... 13–20
Customers Who Don’t Pay ................................................................................................... 13–21
Charging Interest on Overdue Invoices ...................................................................... 13–21
Writing Off Bad Debts ................................................................................................... 13–22

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Chapter 14: Paying Bills

Paying Credit-Card Bills .........................................................................................................14–1
Paying Other Bills ....................................................................................................................14–2
Correcting or Cancelling Other Kinds of Payments............................................................14–2
Automatically Correcting or Cancelling Other Payments ..........................................14–3

Chapter 15: Paying Employees

Checking Your Payroll Options .............................................................................................15–1
Adding Employees ..................................................................................................................15–1
Adding Basic Employee Information.............................................................................15–2
Adding Income Information for an Employee..............................................................15–4
Adding Taxes and Deductions for an Employee..........................................................15–5
Adding Entitlements for an Employee ..........................................................................15–6
Setting up for Direct Deposit...........................................................................................15–7
Recording T4 and Relevé 1 Slips Information...............................................................15–8
Recording GST and QST on Employee Benefits ...........................................................15–9
Paying Individual Employees ..............................................................................................15–11
Paying a Group of Employees with a Payroll Cheque Run .............................................15–14
Paying Out Vacation Time....................................................................................................15–16
Checking How Much Vacation Pay You Owe an Employee ....................................15–17
Looking Up Information on Old Paycheques ....................................................................15–17
Correcting Errors on Paycheques ........................................................................................15–18
Automatically Correcting an Employee’s Most Recent Paycheque.........................15–18
Correcting an Older Paycheque ....................................................................................15–18
Keeping Your Tax Tables Up To Date.................................................................................15–21
Direct Deposit .........................................................................................................................15–21
Setting up for Direct Deposit.........................................................................................15–22
Processing Payroll...........................................................................................................15–22
Submitting the Direct Deposit File ...............................................................................15–23

Chapter 16: Entering Other Types of Transactions

Entering a Daily Bank Deposit ...............................................................................................16–1
Recording a Miscellaneous Transaction................................................................................16–3

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Transferring Funds from One Account to Another ..................................................... 16–3

Entering Sales Taxes Information................................................................................... 16–4
Changing or Cancelling a Miscellaneous Transaction........................................................ 16–5
Manually Correcting a Miscellaneous Transaction...................................................... 16–6

Chapter 17: Allocating Revenues and Expenses to

Projects
Allocating Project Revenues and Costs ................................................................................ 17–1
Allocating an Amount to a Project ................................................................................. 17–1

Chapter 18: Keeping Track of Time and Billing

Create a Service Item for Each Activity ................................................................................ 18–1
Record the Time Spent ............................................................................................................ 18–2
Invoice the Customer .............................................................................................................. 18–5
Pay Employees ......................................................................................................................... 18–7
Look Up Time Slips ................................................................................................................. 18–8
Adjust Time Slips..................................................................................................................... 18–9
Time-Slips Reports................................................................................................................. 18–11

Part 3: Company Maintenance

Chapter 19: Protecting Your Data

Checking Data Integrity.......................................................................................................... 19–1
What to Do If You Have Errors in Your Data............................................................... 19–1
Backing Up Your Company’s Information .......................................................................... 19–2
Backing Up Your Data ..................................................................................................... 19–2
Changing the Backup Frequency ................................................................................... 19–3
Other Uses for Old Backups............................................................................................ 19–3
Restoring a Backup.................................................................................................................. 19–4
Saving a Copy of Your Data as You Work ........................................................................... 19–4
Troubleshooting....................................................................................................................... 19–5

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Starting Simply Accounting ............................................................................................19–5

Dimmed Options...............................................................................................................19–5
Printing...............................................................................................................................19–5
Adding Vendors and Customers ....................................................................................19–6
Paying Employees.............................................................................................................19–6
Customizing Reports ........................................................................................................19–7
Graphing ............................................................................................................................19–7

Chapter 20: Daily and Monthly

Enhancing Database Performance .........................................................................................20–1
Maintaining Records................................................................................................................20–1
Restrictions to Changing Records...................................................................................20–1
Changing Records.............................................................................................................20–2
Restrictions to Removing Records..................................................................................20–2
Removing Records ............................................................................................................20–5
Automatically Updating Personal Tax Credits Subject to Indexing ..........................20–5
Receiving Money from Credit-Card Sales ............................................................................20–6
Reconciling Statements from a Bank or Credit-Card Company........................................20–8
Automatically Reconciling Using Online Services.......................................................20–8
Manually Reconciling Your Statement ..........................................................................20–9
Adjusting Inventory Levels ..................................................................................................20–13
Correcting Inventory Adjustments...............................................................................20–14
Checking Your Budget ..........................................................................................................20–15
Getting the Facts..............................................................................................................20–15
Using Graphs...................................................................................................................20–15
Quickly Updating Your Budget ....................................................................................20–16
Daily and Monthly Checklists ..............................................................................................20–16
At the End of the Day .....................................................................................................20–17
At the End of the Month ................................................................................................20–17
At the End of the Quarter ..............................................................................................20–18

Chapter 21: End of Year and Tax Period

End of a Provincial or State Tax Period.................................................................................21–1
End of a GST, HST, or QST Period ........................................................................................21–1

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Printing Reports at the End of a Tax Period ................................................................. 21–1

Adjusting the Sales Tax Reports ..................................................................................... 21–2
Backing Up Your Data Before Filling Out the Sales Tax Return ................................ 21–3
Filling Out the Sales Tax Return..................................................................................... 21–3
Paying the Government What You Owe or Receiving a Refund............................... 21–4
End of a Contract Payment Reporting Period ..................................................................... 21–7
End of a Calendar Year ........................................................................................................... 21–8
End of a Fiscal Year ................................................................................................................. 21–8
Checking Your Data and Backing It Up ........................................................................ 21–9
Reconciling the Statements for Your Bank and Credit-Card Accounts .................... 21–9
Exporting GIFI Data ....................................................................................................... 21–10
Printing Year-End Reports ............................................................................................ 21–10
Adjusting Entries in the Previous Year ....................................................................... 21–11
Printing Audit Trail Reports ................................................................................................ 21–13
Electronic Filing ..................................................................................................................... 21–15
Before You Start .............................................................................................................. 21–15
Filing Original T4 Slips .................................................................................................. 21–18
Filing Amended T4 Slips ............................................................................................... 21–22
Filing Relevé 1 Slips....................................................................................................... 21–22

Part 4: Time-Savers

Chapter 22: Increasing Efficiency

Centralize Tasks in the Daily Business Manager ................................................................ 22–1
Displaying the Daily Business Manager Automatically ............................................. 22–1
Batch Process and Print Transactions ............................................................................ 22–2
Attach Notes to the Business Calendar ......................................................................... 22–3
Use To-Do Lists as Reminders of Tasks to Be Completed .......................................... 22–4
Business Performance Measurements ........................................................................... 22–7
Print Forms in Batches ............................................................................................................ 22–8
Set the Batch Printing Option ......................................................................................... 22–9
Print the Batch................................................................................................................... 22–9
Viewing Reports in Batches.................................................................................................. 22–10
Using Checklists..................................................................................................................... 22–11

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Displaying Checklists .....................................................................................................22–12

Using an Existing Checklist ...........................................................................................22–12
Creating or Changing Checklists ..................................................................................22–12
Looking Up Information .......................................................................................................22–13
Looking Up a Transaction..............................................................................................22–13
Searching for Records or Transactions.........................................................................22–14
Getting More Details from Reports ..............................................................................22–16
Tracking Shipments ........................................................................................................22–18
Adding Records “on the Fly” ...............................................................................................22–18
Entering Transactions that Occur on a Regular Basis .......................................................22–19
Storing a Recurring Transaction ...................................................................................22–20
Using a Recurring Transaction......................................................................................22–20
Changing a Recurring Transaction...............................................................................22–21
Set Up Bills of Material for Inventory Items.......................................................................22–21
Using a Pop-Up Calendar in Date Fields............................................................................22–22
® ®
Synchronizing Your Vendor and Customer Records with Microsoft Outlook .........22–22
Set Up Your Vendor and Customer Records ..............................................................22–23
Synchronize Your Records for the First Time .............................................................22–23
Add Simply Accounting Vendor or Customer Records in Outlook ........................22–23

Chapter 23: Reducing Clutter

Keeping Inactive Parts of Your Business out of the Way ...................................................23–1
Customizing Windows To Show What You Need ..............................................................23–1
Customizing Sales Invoices .............................................................................................23–2
Hiding Unused Parts of Simply Accounting........................................................................23–3
Automatic Advice .............................................................................................................23–3
Sections of the Home Window........................................................................................23–3
Account Numbers on Reports.........................................................................................23–4
Comments Column in Miscellaneous Transactions .....................................................23–5
Hide Specific Window Features......................................................................................23–5
Icon Windows....................................................................................................................23–6
Clearing Old Information from Simply Accounting ...........................................................23–7
Clearing Data Automatically.........................................................................................23–10

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Part 5: Developing Your Business

Chapter 24: Maintaining a Healthy Business

Exploring Your Financial Position ........................................................................................ 24–1
Income Statement ............................................................................................................. 24–1
Balance Sheet..................................................................................................................... 24–3
Graphing Revenues and Expenses................................................................................. 24–7
Understanding Your Cash Flow............................................................................................ 24–8
Cash-Flow Projection ....................................................................................................... 24–8
Statement of Cash Flows ............................................................................................... 24–10
Consolidating Multiple Companies .................................................................................... 24–13
Create a Consolidated Company.................................................................................. 24–13
Working with a Consolidated Company .................................................................... 24–18

Chapter 25: Developing Customer and Vendor

Relations
Evaluating Your Customers ................................................................................................... 25–1
Getting a General Report on Customers ....................................................................... 25–1
Analyzing and Ranking Sales Data................................................................................ 25–3
Identifying Customers with Increased Monthly Sales ................................................ 25–4
Identifying Customers With Decreased Sales .............................................................. 25–5
Dealing with Overdue Sales Invoices ............................................................................ 25–5
Evaluating Your Vendors ....................................................................................................... 25–7
Getting a General Report on Vendors ........................................................................... 25–7
Finding Out When Payments Will Come Due ............................................................. 25–8
Printing a Report Showing Overdue Payments Owed to Vendors ........................... 25–9

Chapter 26: Tracking Your Inventory

Identifying the Items That Make the Most Money.............................................................. 26–1
Knowing When To Re-order .................................................................................................. 26–3
Understanding the Value of What You Have On Hand .................................................... 26–5

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Chapter 27: Using Graphs

Customizing Graphs................................................................................................................27–1
Changing the Colour ........................................................................................................27–2
Displaying the Detail for a Part of the Graph ...............................................................27–3
Changing the Legend .......................................................................................................27–3
Creating an Exploding Pie Chart ....................................................................................27–4
Pasting a Graph into a Presentation ......................................................................................27–5
Adjusting the Background Colour..................................................................................27–5

Chapter 28: Working Away from the Office

Taking Simply Accounting With You ...................................................................................28–1
Before You Start.................................................................................................................28–1
Setting Up Simply Accounting Mobile .................................................................................28–2
Step 1: Install Simply Accounting Mobile ....................................................................28–2
Step 2: Set Up Synchronization Settings and Options ................................................28–3
Step 3: Set Up Simply Accounting Mobile....................................................................28–6
Entering Information on a Handheld Device.......................................................................28–7
Entering Sales Orders and Invoices................................................................................28–8
Entering Time Slips...........................................................................................................28–9
Adding Customers............................................................................................................28–9
Looking Up Orders, Invoices, and Time Slips ...................................................................28–10
Deleting Transactions and Customer Records...................................................................28–10
Transfer Data to Simply Accounting...................................................................................28–11
Fixing Synchronization Errors..............................................................................................28–12

Index

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Setting Up
Part 1

Before you start using Simply Accounting to keep track of your

day-to-day business, you’ll want to tailor it to suit your company. If
you need more information than the Quick Start provides, use Part 1
of this manual to guide you through the setup process.

Chapter 1 — Introduction

Chapter 2 — Setting Up Accounts

Chapter 3 — Entering Basic Settings and Options

Chapter 4 — Making and Accepting Credit Card Payments

Chapter 5 — Setting Up Projects

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Chapter 1
Introduction

Setting up Simply Accounting to suit your company is a detailed but simple

process. This chapter gives you an overview of the steps you’ll take and the
options you need to consider, whether you’re just starting your company or have
been in business for a while.

What You Need to Do ...................................................................................................................... 1–1

International Coverage..................................................................................................................... 1–1

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Chapter 1: Introduction

What You Need to Do

Are you upgrading ‰ If you’re upgrading from an earlier version of Simply
from an earlier Accounting, you can probably skip Part 1. Use the Quick
version? Start Guide to install Simply Accounting, then read the
What’s New in Simply Accounting manual to find out about
the new and changed features in this version.

Are you new to Simply ‰ If you’re just starting out with Simply Accounting, gather
Accounting? your existing accounting records so that you have everything
handy when you need to enter setup information.

‰ If you’re unfamiliar with accounting, read the Accounting

Manual to learn the basic concepts. (On the Help menu, choose
Simply Accounting Manuals, then Accounting Manual).

‰ Install Simply Accounting and, if you wish, practice using it

with the sample data provided. (See the Quick Start Guide for
instructions.)

‰ Read or browse through Part 1 of this manual and be sure

you understand the decisions you need to make and the
options you can choose. The table on the next page will help
you decide which chapters you need to read.

‰ Once you’re familiar with the options available, either:

■ Run the Setup wizard as described in the Quick Start

Guide, and refer to this manual for more detail. Or,

■ Work through the rest of Part 1 in this manual, setting

up options and adding information at your own pace.

International Coverage
Simply Accounting is available in both Canadian and U.S.
versions, and this manual describes both. Watch for the flags
that mark information that is unique to each country.

■ The manual uses Canadian spelling (for example,

“paycheque” for “paycheck”).

User Guide 1–1

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Part 1: Setting Up

Where To Now?
Check the list below to see which chapters you need to read.

If you answer Yes to this question: Read this chapter:

Do you need to add or change any Chapter 2, “Setting Up Accounts.”
accounts?
Do you need to enter or change basic Chapter 3, “Entering Basic Settings and
background information, such as company Options.”
address, names of taxes and payroll
deductions, and printing options?
Do you plan to make or accept credit-card Chapter 4, “Making and Accepting Credit-
payments? Card Payments.”
Do you want to keep track of revenues and Chapter 5, “Setting Up Projects.”
expenses you allocate to projects or
departments?
Do you plan to use a budget to keep your Chapter 6, “Setting Up a Budget.”
business on track?
Will more than one person be using your Chapter 7, “Using Simply Accounting on a
company’s data? Network.”
Do you plan to print reports, cheques, or Chapter 8, “Setting Up Printers.”
forms with Simply Accounting?
Do you need to make a list of the items and Chapter 9, “Setting Up a List of Inventory
services you buy and sell? and Services.”
Do you plan to do business outside the Chapter 10, “Doing Business outside the
country? Country.”
Do you have year-to-date account Chapter 11, “Adding Historical
balances, payroll information, remittance Information.”
information, inventory on hand, or
outstanding purchase and sales invoices?
Do you plan to use Simply Accounting on Chapter 28, “Working Away from the
a handheld device? Office.”

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Chapter 2
Setting Up Accounts

Your account records are at the heart of your business. Organized into logical
categories, they automatically calculate and update the value of your assets,
liabilities, revenues, expenses, and equity. It’s important to set up these records
carefully before you start doing business.

Choose a Typical Set of Accounts for Your Business................................... 2–1

Add or Change Accounts........................................................... 2–3
Account Types ................................................................ 2–3
Account Numbering ........................................................... 2–4
Expanded Numbering ...................................................... 2–5
Accounting by Departments .................................................... 2–6
Turn on the Option to Use Departmental Accounting .......................... 2–6
Set Up Departments ........................................................ 2–7
Assign Departments to Vendors, Customers, and Employees ................... 2–8
Changing or Removing the Department for a Specific Account ................. 2–9
Adding Accounts ............................................................. 2–10
Add GIFI Codes .............................................................. 2–11
Assign Account Classes ....................................................... 2–12
Set Up Bank Accounts ............................................................ 2–13
Set Up Linked Accounts ........................................................... 2–14
Consolidating Data from Several Companies ........................................ 2–16
Keeping and Comparing Additional Years of Financial History ....................... 2–17
Keeping Track of Changes in Account Names or Numbers ........................ 2–17
Deleting Accounts ........................................................ 2–18
Set Up Accounts for Reconciliation ................................................. 2–19
Before You Start .............................................................. 2–19
Two Steps to Setting Up ....................................................... 2–19
Add and Link the Accounts You Need ...................................... 2–19
Reconciling an Account for the First Time ................................... 2–20
Tips for Reconciling Credit Cards .............................................. 2–22
Check Your Chart of Accounts ..................................................... 2–22

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Chapter 2: Setting Up Accounts

What You Need to Do

‰ Determine whether you need to create a consolidated parent
company.

‰ From the templates that come with Simply Accounting,

choose a typical set of accounts for your business.

‰ Add, change, or remove accounts.

‰ Set up bank accounts.

‰ Set up linked accounts to update all related records

automatically when you process a transaction.

‰ Set up accounts for reconciliation so you can quickly

compare your bank and credit-card statements to your
Simply Accounting records.

‰ Check your chart of accounts.

Choose a Typical Set of Accounts for Your Business

Simply Accounting comes with predefined sets of accounts for
many different types of companies. Adapting one of these
“company templates” is much easier and faster than starting
from scratch and typing in all your accounts one at a time.

If you have completed the Setup wizard as described in the

Quick Start manual, you may already have chosen a set of
accounts. If not, follow the steps in this section.

To choose a company template:

1. Close all Simply Accounting windows except for the Home

window.

2. In the Home window on the File menu, choose New

Company.

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Part 1: Setting Up

3. Use the Setup wizard to guide you through the process.

Choose Copy a
Template Containing
Typical Accounts

Once you have entered your fiscal-

year dates, you can either complete
the Setup wizard, or click Next, then
Finish and come back to it later. (To
start the Setup wizard later, in the
Home window choose Setup, then
Wizards, then Settings.)

You’ll probably need to rename or change some of the accounts

to suit your own business, as described in the next section.

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Chapter 2: Setting Up Accounts

Add or Change Accounts

You may need to add some new accounts, change or rename

others, or remove the ones you don’t need. You can add
accounts at any time, and can usually change or remove them
unless the program prevents it. (For example, you can’t remove
an account unless it has a zero balance.)

To find out more about changing or removing accounts, see

“Maintaining Records” in Chapter 20.

Tip: If you are making a lot of changes, or need more help, you
can use the Modify Accounts wizard to add, change, or remove
accounts. (In the Home window on the Setup menu, choose
Wizards, then Modify Accounts, and follow the steps on the
screen.) You can also drag-and-drop accounts and use the Insert
and Delete keys in the Accounts icon window to make changes
quickly.

Account Types
Simply Accounting uses the following account types to format
your financial statements.

Type of Function on the Financial Relationship to Other Types of

Account Statement Accounts

Section Divides the financial statement into The program assigns the section
Heading sections (Assets, Liabilities, Equity, name; you cannot change it. Accounts
Revenue, and Expense). within a section are further classified
into groups.

Group Classifies groups of accounts within a Introduces two or more group or

Heading section. subgroup accounts.

Subgroup Stores amounts processed in the Used for accounts whose balances
transaction windows. Balances are will be subtotalled rather than
shown in the left column of the included directly in the group total.
financial statement. Subgroup accounts must be followed
by a group total before the next
heading.

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Part 1: Setting Up

Type of Function on the Financial Relationship to Other Types of

Account Statement Accounts

Group Stores amounts processed in the Used for amounts included directly
transaction windows. Balances are in the group total.
shown in the right (total) column of the
financial statement.

Subgroup Contains the subtotal of all the Must follow a subgroup account. The
Total consecutive subgroup accounts above balance is included in the group total.
it. The program displays the amount in
the right column of the financial
statement.

Current Shows the difference between revenue You cannot process transactions to
Earnings and expense account totals. The this account.
program calculates the balance every
time you make an entry that affects a
revenue or expense account, and
displays it in the Equity section of the
balance sheet.

Group Gives the sum of all group and You cannot process transactions to
Total subgroup totals above it, up to the this account.
preceding group heading. The
program displays the amount in the
right column of the financial
statement.

Section Gives the sum of all accounts within You cannot change the section name;
Total the same section of the financial the program assigns it.
statement. It includes all the group
totals.

Account Numbering
To ensure that related accounts are grouped together, and that
the program prints the accounts in the right order on financial
statements, Simply Accounting uses the following account
numbering system. You cannot enter an account number outside
this range, unless you are using Simply Accounting Premium or
higher.

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Chapter 2: Setting Up Accounts

Asset accounts 1000 to 1999

Liability accounts 2000 to 2999
Equity accounts 3000 to 3999
Revenue accounts 4000 to 4999
Expense accounts 5000 to 5999

When you assign account numbers, leave gaps between them.

(For example, leave a gap of 10 or 20 numbers.) If you later need
to add an account in the same section, you can insert it between
two related numbers.

Expanded Numbering
Simply If you use Simply Accounting Premium or higher you can
Accounting expand the account numbering system. You can add or remove
Premium or digits from your account numbering system or change the start
higher
and end numbers used by any of the account groups. An
expanded numbering system must follow the same order as
listed earlier in the “Account Numbering” section; however, you
can leave spaces in the numbering system for later use.

Note: Any changes you make to your account numbers will

automatically update your linked accounts. And, if you have
converted your data from another version of Simply Accounting,
you will probably find it easiest to add extra digits to your
accounts and leave the structure similar to the way it is currently.

To set up an expanded numbering system:

1. In the Home window from the Setup Menu, choose System

Settings, and then Settings.

2. Under General, choose Numbering, and select a number of

digits from the drop-down list.

3. If you would like to change the numbering of any account

group, enter the new numbers in the Starting Account
Number and Ending Account Number fields.

4. Click OK when you have finished.

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Part 1: Setting Up

Accounting by Departments
Simply Accounting If you use Simply Accounting Pro or higher, you can add a
Pro or higher four-digit department code to your account numbers to allow
accounting by department. This lets you:

■ Define a greater range of account numbers.

■ Prepare reports that group and compare the departments of

your business.

For example, you can divide account 5300 (Wages) into

departments 0100 (Administration), 0200 (Marketing), and
0300 (Operations). As you pay wages, you can print financial
reports to compare the wage expense of each department.

To use departments with your accounts, you need to:

■ Turn on the Use Departmental Accounting option.

■ Set up departments and specify which accounts should or

should not use them.

■ Assign departments to your vendors, customers, and

employees.

These topics are described in the sections that follow.

Turn on the Option to Use Departmental Accounting

When you first install Simply Accounting, the Use Departmental

Accounting option is turned off. To be able to do accounting by
departments, you need to turn on the option (only once) by
following these steps.

Note: Consolidated companies do not recognize departments.

1. In the Home window on the Setup menu, choose System

Settings, then Settings.

2. Under General, choose Departments, and check the Use

Departmental Accounting box.

3. Click OK.

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Chapter 2: Setting Up Accounts

Set Up Departments

After you have turned on the option to use departmental

accounting, you add a list of the departments you want to use.
You can change the names of departments, or delete them if you
no longer need them, as described later in this section.

To add departments:

1. In the Home window on the Setup menu, choose System

Settings, Settings, General, and then Departments.

2. Fill in the information.

Enter a unique, 4-digit

code.
Enter a description of
the department, up to
25 characters.

Click or press the

Spacebar to switch
between Active and
Inactive.

3. Click OK.

When you add a department, the department is automatically

added to all group and subgroup accounts. This means that the
account and department numbers will appear when you select
an account from a list, such as the list of accounts in a transaction
window.

If you don’t plan to use departments with all of your accounts,

you can “turn off” departments for specific accounts. If you want
to use a different department with a particular account, you can
change it. For instructions on both of these tasks, see “Changing
or Removing the Department for a Specific Account,” later in
this section.

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To change the name of a department:

1. In the Home window on the Setup menu, choose System

Settings, Settings, General, and then Departments.

2. Select a department and enter a new name or department

code.

Select a department
to rename or
renumber it.

Click or press the

Spacebar to switch
between Active and
Inactive.

3. Click OK.

To delete departments:

1. In the Home window on the Setup menu, choose System

Settings, Settings, General, and then Departments.

2. Select a department code and press the Delete key.

3. Click OK.

Assign Departments to Vendors, Customers, and Employees

After you have set up departments as described in the previous

section, you should assign departments to your vendors,
customers, and employees. Simply Accounting will then
automatically use the appropriate departments whenever you
process transactions, such as purchases, payments, sales,
receipts, or paycheques.

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Chapter 2: Setting Up Accounts

To find out how to assign departments to your vendors,

customers, and employees, refer to Chapters 12, 13, and 15
respectively.

You can also select an account that uses a department when you
link an account in the inventory records. However, this is very
restrictive and should be done only in special cases. This is
discussed later in “Set Up Linked Accounts” in this chapter, and
in “Add Accounts to Keep Track of Inventory and Service Items”
in Chapter 9.

Changing or Removing the Department for a Specific Account

If you want to use a different department with an account,

follow these steps.

1. In the Home window on the Setup menu, choose System

Settings, Settings, General, and then Departments.

2. Click Assign Accounts and select a department. To remove

an account from a department, select the account from the
Accounts That Use This Department list and click Remove.

Select the department.

If an account should not

use the department,
select the account, and
click Remove.

If an account in this
area should use the
department, select the
account, and click
Select.

Tip: To choose several random accounts at once, press the

Ctrl key while selecting (clicking) each account. To select a
sequential range of accounts, click (highlight) the first
account, then press the Shift key and simultaneously click
the last account of the range.

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Part 1: Setting Up

You can also use the Chart of Accounts Records window to

remove the department from an account, as described later in
“Adding Accounts.”

Note: If you remove a department from the Accounts Payable

group or subgroup, you will be unable to assign that department
to vendors. Similarly, if you remove a department from the
Accounts Receivable group or subgroup or from the Regular
Wage Expense account, you will be unable to assign that
department to customers or employees respectively.

Adding Accounts
1. In the Home window, on the General tab, choose the
Accounts icon.

2. On the File menu or toolbar, choose Create, then fill in the

fields on the Account tab.

This field appears in the

Canadian version. It’s
described under “Add GIFI
Codes” later in this
chapter.

Account classes are

discussed under “Assign
Account Classes,” later in
this chapter.

If you haven’t finished

entering history, enter the
account’s opening
balance. History is
discussed in Chapter 11.

3. If you want to use this account to keep track of project

revenues and expenses, see Chapter 5, “Setting Up Projects.”

4. If you want to store additional information about this

account, fill in the Additional Info tab.

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Chapter 2: Setting Up Accounts

Fill in the additional

information about the
account.

If you need to change the

name of a field, in the
Home window, choose
Setup, System Settings,
Names and Terminology.
Then enter the new name
on the Accounts tab.

Simply Accounting 5. If you use Simply Accounting Pro or higher and have set up
Pro or higher departments, use the Departments tab to specify which
departments should be used with the account:

If the account should not

use the department,
choose the department
here, and click Remove.

If the account should use

the department, choose
the department here,
and click Select.

Save 6. On the File menu, choose Save.

Add GIFI Codes

If you file your corporate tax returns (T2s) electronically, you are
required to assign a GIFI (General Index of Financial
Information) code to each account. Your accountant or the
Canada Revenue Agency can tell you more about GIFI codes.

■ If you’re using one of the company templates that comes

with Simply Accounting, the codes are already assigned.

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Part 1: Setting Up

However, if you add or change any accounts, you may need

to add or change GIFI codes.

■ If you typed in your accounts one at a time, you need to add

a GIFI code to each account.

We recommend that you ask your accountant to review your

chart of accounts to be sure the codes are correct.

To add or change a GIFI code:

1. In the Home window, choose the Accounts icon, select an

account, and enter the GIFI code.

Type the GIFI code here.

Save 2. On the File menu, choose Save.

Assign Account Classes

Account classes let you organize your accounts into categories.
For example, when you select cheque or cash as the payment
method on an invoice, the program provides a list of the
accounts that are set up as bank and cash accounts so you can
choose one to make or receive the payment.

Account classes also provide a more informative Statement of

Cash Flows, which shows you where your money is coming
from and where it’s going. If you are familiar with Crystal
Reports or Microsoft Excel, you can also use this information to
create custom reports.

It’s important to set up your account classes correctly. For

example, be sure to classify your current and long-term assets
and liabilities properly, and to assign an expense account for
amortization (depreciation).

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Chapter 2: Setting Up Accounts

To assign account classes:

1. In the Home window on the General tab, choose the

Accounts icon, then select a group or subgroup account.

2. In the account record, click the Class Options tab and fill in
the information.

Select an account class.

Depending on the class

you selected, other fields
may appear, allowing you
to store additional
information about the
account.

Save 3. On the File menu, choose Save.

Set Up Bank Accounts

If you set up an account as a Bank account, you can store
additional information that makes it easy to use online banking.
For example, you can keep a record of the bank’s transit number
and Web site address.

1. In the Home window on the General tab, choose the

Accounts icon, then select the account.

2. Click the Class Options tab and fill in the information.

Select Bank.
Select your bank from
the list, then fill in the
other information.

If you have numbered

deposit slips, enter the next
number, if not, leave this
field blank.

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If you don’t see a list of banks in the Institution field, you can
type the name of the bank. To specify cheque numbers, go to
Setup, Reports and Forms, then Cheques.

Save 3. On the File menu choose Save.

Set Up Linked Accounts

Simply Accounting uses linked accounts to update all related
accounts automatically when you process a transaction. For
example, if you make a payment to a vendor, the program
decreases the balance in your bank account and decreases the
balance you owe that vendor.

If you used a template to create your chart of accounts in Simply

Accounting, many of the linked accounts are already set up.
However, you may need to add or change accounts to suit your
business, or to remove or unlink an account you don’t need. For
example, if you are never charged for freight, you can unlink
and remove the Freight Expense account.

Tip: If you are making a lot of changes, or need more help, you
can use the Linked Accounts wizard. In the Home window on
the Setup menu, choose Wizards, then Linked Accounts, and
follow the steps on the screen.

To set up a linked account:

1. In the Accounts window, add the account you want to link,

if it is not already there. (For instructions, see “Adding
Accounts,” earlier in this chapter.)

2. In the Home window on the Setup menu, choose System

Settings, then Linked Accounts.

3. Select the module that contains the account you want to link.

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Chapter 2: Setting Up Accounts

If you plan to keep track of

transactions in more than
one currency, fill in the
linked accounts to use for
foreign currencies.

This linked account is used

for prepaid orders and
deposits.

Simply Accounting Note: If you select an account and department number (in
Pro or higher Simply Accounting Pro or higher), then all transactions for
the account will be recorded to that one department. For
example, if you specify account 2200-0100 for Accounts
Payable when you link accounts, then all purchase
transactions for every vendor will use that account,
regardless of the vendor’s department. You would not be
able to record purchases to Accounts Payable to different
vendor departments.

4. Click OK.

To remove a linked account:

1. In the Home window on the Setup menu, choose System

Settings, then Linked Accounts.

2. Select the module in which you want to unlink and remove

the account.

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Part 1: Setting Up

Select the account

you want to unlink,
then press the
Backspace key.

3. Click OK.

4. In the Accounts window, remove the account. (For more

information on removing accounts, see “Maintaining
Records” in Chapter 20.)

Consolidating Data from Several Companies

Simply If you are using Simply Accounting Premium or higher, you can
Accounting consolidate multiple companies. This is very helpful for
Premium or companies owned by one “parent” company with many
higher
“subsidiary” companies scattered throughout the state/province
or country, or even internationally, which are required to
provide consolidated company reports.

Before you consolidate, you should review the chart of accounts

for each subsidiary company to determine how it will relate to
the chart of accounts in the parent company.

Note: Departmental accounting is ignored by the consolidated

parent company.

For more information on creating a consolidated company, see

Chapter 24, “Maintaining a Healthy Business.”

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Chapter 2: Setting Up Accounts

Keeping and Comparing Additional Years of

Financial History
Simply Accounting If you are using Simply Accounting Pro or higher, you can keep
Pro or higher monthly account balances and include them on comparative
financial statements for up to 100 years. This lets you:

■ Compare your current year’s transactions to those of

previous years, to have a better idea of how your business is
doing.

■ Print historical financial statements easily, without having to

restore a backup file.

The program adds to your financial history when you start a

new fiscal year.

Clearing financial You can clear the data at any time by using the Clear Financial
history History command. In the Home window on the Maintenance
menu, choose Clear Data, then Clear Financial History, and select
the dates to clear.

Keeping Track of Changes in Account Names or Numbers

When you start a new fiscal year, Simply Accounting (Pro or
higher) records the chart of accounts (account names and
numbers), opening balances, and transaction details for the year
that is ending, and retains any financial history from previous
years.

If you change any account number or name during the new

fiscal year, the program stores information about the account’s
relationship to accounts in the previous year, on the Related
Historical Accounts tab in the account record.

Note the following:

■ You can set up related accounts for any group or subgroup

account. You cannot relate group headings, group totals,
subgroup totals, or current earnings accounts.

■ The related accounts must be in the same section of the chart

of accounts (assets, liabilities, and so on).

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■ You can select more than one account from the previous
year to relate to the account, although you cannot relate the
same account from the previous year to more than one
account in the current year.

■ If you rename an account in the current year, Simply

Accounting renames it in the previous year also.

You can print a list of accounts used in earlier fiscal years when
you print the chart of accounts. In the Home window on the
Reports menu, select Lists, then Chart of Accounts. Select the
years you want to include, then click OK.

You can also print a list of unrelated accounts, to see which of

your accounts should be related to accounts in the current year.
On the Reports menu choose Management Reports, then
General, then Unrelated Historical Accounts. The report lists
accounts that are not related to any accounts in the current chart
of accounts.

To record the relationship of current and historical

accounts:

1. In the Accounts window, open the account you want to

relate to other, older accounts.

2. On the Related Historical Accounts tab, select a fiscal year,

then enter an account.

3. Close the Chart of Accounts Records window.

Deleting Accounts

If you delete an account, the relationship between accounts from

the previous year and accounts in the current year is lost. The
balances from related accounts in earlier years will not appear
on multi-period reports, so the reports may be out of balance. To
maintain the relationship between current and past accounts,
and thus ensure that you can print meaningful comparative
reports, be sure to set up a new relationship on the Related
Historical Accounts tab.

If you need to delete an account, we recommend that you

renumber it, rename it “Deleted Account,” and check the Omit

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Chapter 2: Setting Up Accounts

From Financial Statements If Balance Is Zero box in the account

record. This will maintain the relationship between past and
current charts of accounts and ensure that the multi-period
reports balance.

Set Up Accounts for Reconciliation

Reconciliation lets you identify errors or unexpected differences
between your accounting records and the statements sent to you
by your bank or credit-card merchant. Such differences include
service charges, fees, and bank interest earned, which you may
not have entered in your Simply Accounting records.

Before You Start

Before you set up an account for reconciliation, you should:

‰ Finish entering your company’s historical records, as

described in Chapter 11.

‰ Set up credit cards, if you plan to reconcile statements from

your credit-card merchants. Refer to Chapter 4, “Making and
Accepting Credit-Card Payments,” for more information.

‰ Set up accounts to use online banking, if you want to use this

feature. Online banking can eliminate much of the work of
reconciling, by letting you download your bank statement
and check the entries automatically. Refer to “Set Up Bank
Accounts,” earlier in this chapter, for more information.

Two Steps to Setting Up

Add and Link the Accounts You Need

1. In the Accounts window, add the accounts you plan to

reconcile, if you have not already done so. Refer to “Adding
Accounts,” earlier in this chapter, for more information.

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Part 1: Setting Up

2. In the Accounts window, add the income, expense, and

adjustment accounts you will need to keep track of interest
earned, service charges, and adjustments.

3. In the Accounts window, select the account you want to set

up for reconciliation, then click the Reconciliation and
Deposits tab.

4. Check the Save Transactions For Account Reconciliation box,

then click the Set Up button.
You can enter more Select expense accounts to
meaningful names for the track amounts such as service
accounts, if you wish. charges and loan interest.

Select income accounts

to track the amounts
your bank deposits in
your account, such as
interest earned.

Select an account for

errors and occasional
small adjustments.

5. Click OK.

Reconciling an Account for the First Time

1. In the Home window on the General tab, choose the Account

Reconciliation or the Reconciliation and Deposits icon.

2. Select the account you want to reconcile for the first time.

3. Enter the start and end dates from the statement you are
reconciling, then enter the reconciliation date. If you have
more than one unreconciled statement for this account, you
can reconcile them either together or separately. If you
reconcile them separately (which might be easier if you have
a lot of them), reconcile the oldest statement first.

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Chapter 2: Setting Up Accounts

On the Transactions tab, read the instructions for reconciling

an account for the first time, and then click the Add Prior
Outstanding button.

4. Enter a date in the Show Resolved Transactions On Or After

field. This date determines which transactions are displayed.
If you know the date of your oldest outstanding transaction
for this account, choose that date; otherwise, accept the
displayed date. Simply Accounting will display transactions
that were entered after the earliest transaction date of the
current or last year.

5. If you want to sort the transactions, choose a method from

the Sort Transactions By field. This will change the order in
which the transactions appear when you create reports from
the Report menu. The Order of Entry option allows you to
sort transactions by the order in which they were originally
entered.

6. Select all the transactions that were still outstanding as of the

start date of your bank or credit card statement, and click
Add. You can then change the Show Resolved Transactions
date to find other transactions.

7. If you have performed any transactions that you have not

recorded in Simply Accounting, click the Insert Outstanding
button to add these amounts manually.

8. Print the Resolved Transactions or the Outstanding

Transactions report (or both) to save in your account
reconciliation files. They are both available from the Report
menu in the Add Outstanding Transactions window.

9. Click OK.

The account is now ready to reconcile. To find out how to

perform a regular monthly reconciliation, read “Reconciling
Statements from a Bank or Credit-Card Company” in
Chapter 20.

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Part 1: Setting Up

Tips for Reconciling Credit Cards

Track credit-card To keep track of credit-card transactions, create a separate asset
transactions account for each credit card you use or accept, and then set up
separately the credit-card accounts for reconciliation.

Reconcile credit-card You will not find deposits for individual credit-card sales on
accounts first your bank statement. The credit-card company normally
transfers the amounts it owes you in lump sums to your bank,
based on each day’s credit-card sales. Therefore, it is a good idea
to reconcile your credit-card accounts before reconciling your
Bank account.

For more information about reconciling credit-card merchant

statements, refer to “Reconciling Statements from a Bank or
Credit-Card Company” in Chapter 20.

Check Your Chart of Accounts

After you have set up your accounts, print a copy of your chart
of accounts and make sure you have entered everything
correctly. Keep a copy for your records.

Where To Now?
‰ If you have been in business for a while before starting to
use Simply Accounting, you should enter your historical
records (the transactions that occurred before the earliest
transaction date, normally the first day of your fiscal year).
This ensures that your business records are accurate and up
to date. Refer to Chapter 11 for more information about
adding history.

‰ If you have finished setting up accounts for reconciliation

and are ready for regular monthly reconciliation, refer to
“Reconciling Statements from a Bank or Credit-Card
Company” in Chapter 20

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Chapter 3
Entering Basic Settings and Options

You’ll need to enter some basic information before you start doing business, such
as tax names and rates, payment terms, and printing options.

Enter Background Information about Your Company .........................................................3–1

Set Up Sales Taxes......................................................................................................................3–4
List the Sales Taxes You Use .............................................................................................3–5
Set Up Tax Codes ................................................................................................................3–6
Enter Tax Codes for Vendors and Customers.................................................................3–8
Enter Tax Information for Inventory Items .....................................................................3–9
Tax Exemptions for Vendors, Customers, and Items.....................................................3–9
Set Up Payroll Options............................................................................................................3–10
Change Income and Deduction Names .........................................................................3–10
Enter Canadian Payroll Tax Information.......................................................................3–11
Enter U.S. Payroll Tax Information ................................................................................3–13
Set Up Linked Accounts for Payroll ...............................................................................3–14
Setting Up a Payroll Expense Group.......................................................................3–16
Enter Payment Options for Vendors and Customers..........................................................3–17
Set Up Shippers ........................................................................................................................3–19
Set Up Printing and E-mail Options in Simply Accounting...............................................3–19
Enter Options for Orders, Invoices, and Other Forms.................................................3–20
Add Standard Comments to Invoices and Other Forms .............................................3–21
Add Comments to Printed Forms ...........................................................................3–21
Include a Message with Forms You Send by E-mail.............................................3–21
Set Up Fields to Store Additional Information ....................................................................3–22
In Records ..........................................................................................................................3–22
In Transactions ..................................................................................................................3–24
Create Job Categories...............................................................................................................3–25
Customize Colours and Fonts for Reports ...........................................................................3–27
Set Display Preferences ...........................................................................................................3–28
Modify Transaction Windows.........................................................................................3–30
Date Format ..............................................................................................................................3–31

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Switch between Different Languages ................................................................................... 3–32

Set Up Users ............................................................................................................................. 3–33
What Type of Security Do You Need?........................................................................... 3–34
Preventing Users from Viewing or Changing Simply Accounting Data in Other
Programs ............................................................................................................. 3–37
Setting Up or Changing a Password for the System Administrator.......................... 3–37
Adding or Changing a User ............................................................................................ 3–38
Changing a Password for a User .................................................................................... 3–40
Changing a User’s Rights to Use Data........................................................................... 3–41
Deleting a User’s Password............................................................................................. 3–42
Deleting a User.................................................................................................................. 3–43
Removing Security ........................................................................................................... 3–43
Restoring a Damaged Security File ................................................................................ 3–44

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Chapter 3: Entering Basic Settings and Options

What You Need to Do

You can use the Setup wizard, described in the Quick Start
manual, to enter a lot of this information. However, if you need
more detail, follow the steps in this manual to set up the options
you need.

‰ Enter your company name, address, fiscal year, and other

background information.

‰ Set up sales taxes.

‰ Set up payroll options, taxes, and deductions.

‰ Enter payment options for vendors and customers.

‰ Enter payroll authorities as vendors, so that you can track

amounts you owe for payroll liabilities.

‰ Set up shippers so you can track incoming and outgoing

shipments.

‰ Set up printing and e-mail options in Simply Accounting.

‰ If needed, set up fields to store additional information about

your accounts, vendors, customers, employees, inventory,
and projects.

‰ Customize colours and fonts for reports.

‰ Set your preferences for screen colour, terminology, and

other display options.

‰ Set up users and passwords to protect your data.

Enter Background Information about Your

Company
Simply Accounting records your company name, address, and
Canadian business number or American federal and state ID
number and prints them on many reports and forms, so you
need to include this information in your records.

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Part 1: Setting Up

You also need to specify a fiscal year for your company. We

recommend that you ask your accountant to help you select a
fiscal year suitable for your company and type of business.

Dates Simply Accounting uses certain significant dates to help protect

your data, save time, and prevent errors. Some of these dates
set limits on the entries you can add and delete.

Earliest Transaction Date. The earliest date on which you can

process transactions for the current fiscal year. If you’re setting
up Simply Accounting for the first time, this is usually the day on
which you convert from your former accounting system, the
date for which you have a complete, balanced set of data.

Latest Transaction Date. The latest date on which you have

processed transactions for the current fiscal year.

Session Date. The date associated with the current work

session, usually today’s date. You enter this date when you start
Simply Accounting, and the program uses it as the transaction
date unless you change it when you make an entry.

Transaction Date. You can process transactions in the past or

the future if needed. In the Home window on the Setup menu,
choose System Settings, then Settings. Under Company select
System. Check the Do Not Allow Transactions Dated Before box
and enter a date in the field, or the Allow Transactions in The
Future box. (You need to do this only once.)

Company If you use Simply Accounting Premium or higher and specify a

Type Company Type, features on the My Business tab are customized
to work more closely with your industry:

■ A compilation of industry-specific reports appears in the

My Reports window.

■ Industry-specific accounts are added. For example, if you

run a motel and choose Accommodation as your company
type, Simply Accounting will add inventory expense and
asset accounts for Linen, Rugs, and Glassware, and Revenue
accounts for Dining, Conventions, and Banquets.

■ Business tips for your industry are added to the How Do I

list.

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Chapter 3: Entering Basic Settings and Options

To enter background information about your company:

1. In the Home window on the Setup menu, choose System

Settings, then Company Information.
The program prints this name on reports, Type a date, or click the
and on invoices and other forms if you wish. button and select a date
from the calendar.

Some of the date fields are

available only if you have
not finished entering history
(described in Chapter 11).

The Business Number

appears on invoices,
purchase orders, and T4
slips.

Choose a Company Type to

customize the program to
work best with your industry.

The program fills in these dates

after you close the books at
the end of each fiscal year
(Pro or higher).

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Part 1: Setting Up

The program prints this name

on reports, and on invoices
and other forms if you wish.

Some of the date fields are

available only if you have
not finished entering history
(described in Chapter 11).

The Federal ID Number is

printed on W-2 forms.

The program fills in these dates

after you close the books at
the end of each fiscal year.

2. Fill in the information then click OK.

Set Up Sales Taxes

You can set up customized sales taxes, naming and defining
rates and combining taxes to suit the needs of your company
and the area in which you do business.

Pre-set sales taxes If you are using the Canadian or U.S. version of Simply
Accounting, the program sets up the sales taxes for you when
you run the Setup wizard to set up a new company, or when you
upgrade from an earlier version. However, you should check
that you have all the codes and rates you need, and set up
additional ones if necessary. For example, if you sell goods or
services in a neighboring province or state that uses different
sales taxes, you should set up taxes for those jurisdictions as
well.

To set up taxes, you need to:

■ List the taxes you use.

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Chapter 3: Entering Basic Settings and Options

■ Set up tax codes that group the different taxes and rates
together.

■ Enter tax codes for vendors and customers.

■ Enter tax information for inventory items.

List the Sales Taxes You Use

1. In the Home window on the Setup menu, choose System
Settings, then Sales Taxes.

2. Fill in the information on the Taxes tab.

Tax: Type the name of the tax, up to 20 characters.

Tax ID Included on Forms: Type a tax ID, such as a

Canadian Business Number or U.S. state tax ID, that you are
required to include on invoices and other forms that use this
tax.

Exempt from This Tax: Choose Yes if your company is not

required to pay this tax.

Is This Tax Taxable: Select Yes if this tax is subject to

another tax. In the Taxable Tax List that appears, click to add
a check mark beside each tax that is to be charged on the tax.

Account to Track Tax Paid on Purchases: If you do

business in Canada, select an account to record the tax you

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Part 1: Setting Up

pay on purchases. Normally, this would be a liability

account. If you do not enter an account, the tax will be
included in the cost of the items purchased and will not
appear separately on financial reports.

Account to Track Tax Charged on Sales: Select an

account. Normally, this would be a liability account. If you
do not enter an account, you will not be able to charge
customers this tax.

Report on Taxes: Select Yes to include this tax on the Tax

report.

3. Follow the steps in the next section to set up tax codes.

Set Up Tax Codes

Tax codes let you combine different taxes and rates into groups,
so you can quickly apply all the required taxes at once. The
codes appear when you select a vendor or customer in the
Purchases or Sales window, and Simply Accounting fills in the
taxes associated with that code. This lets you quickly enter the
taxes for a vendor or customer who is subject to several different
taxes, without having to look up the rates.

Simply Accounting prints the codes on invoices so customers

can tell what they have been charged.

1. Fill in the information on the Tax Codes tab.

Type a one- or two-

character code to identify
each combination of taxes
you have set up.

Type a description of the

tax.

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Chapter 3: Entering Basic Settings and Options

Type a one- or two-

character code to identify
each combination of taxes
you have set up.

Type a description of the

tax.

2. For each code, double-click the code or description to

display the Tax Code Details screen.

Fill in the details about the

tax code.

Fill in the details about the

tax code.

3. Click OK to save the details, then click OK again to save the

rest of the sales tax information.

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Part 1: Setting Up

Set up codes for If some of your customers are exempt from one or more of the
tax-exempt status taxes that you normally charge, you should set up tax codes that
do not include the tax, and use these codes for the tax-exempt
customers. Similarly, if you are exempt from paying tax to some
of your vendors, set up tax codes for vendors to whom you do
not pay tax. If you do sometimes charge or pay the tax to these
customers or vendors, set up tax-exempt codes, and remember
to set the Tax Exempt setting to No on the Taxes tab in the
customer and vendor records.

Enter Tax Codes for Vendors and Customers

Vendors and existing After you have set up tax codes as described in the previous
customers section, you should enter a tax code for each vendor and each
current customer.

To enter tax codes for new vendors, or existing vendors and

customers:

1. In the vendor record, enter a tax ID on the Address tab.

2. In the customer record, enter a tax ID on the Taxes tab.

3. On the Taxes tab, specify whether the vendor or customer is

exempt from each tax. If the customer is exempt, Simply
Accounting will print their tax ID on the invoice and will not
charge the tax.

4. Select the tax code that is normally associated with the

vendor or customer.

5. Close the vendor or customer record to save your entries.

New customers Once you have added tax codes to your existing customer
and vendor records, you can set up Simply Accounting to
automatically assign a default tax code to each new customer
record that you create.

6. In the Home window on the Setup menu, choose System

Settings, then Settings.

7. Under Customers and Sales, choose Options, and select a tax

code from the Tax Code For New Customers field.

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Chapter 3: Entering Basic Settings and Options

8. Click OK.

Enter Tax Information for Inventory Items

In inventory records, use the Taxes tab to record taxes and duty
rates.

1. In the inventory record, fill in the Taxes tab.

Specify whether the item is

exempt from any taxes.

This appears only if you

chose to track duty in
System Settings.

2. Close the inventory record to save your entries.

Tax Exemptions for Vendors, Customers, and Items

Note that tax-exempt status always takes precedence. If you are
buying or selling an item that is exempt from tax, Simply
Accounting does not calculate tax, even if the vendor or
customer normally charges or pays it. Similarly, if you are
selling a taxable item to a customer who has tax-exempt status,
Simply Accounting does not calculate tax.

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Part 1: Setting Up

Set Up Payroll Options

Simply Accounting comes with several pre-defined names for
different types of employee income, payroll taxes, deductions,
entitlements, and additional expenses. You can change these
names to suit your company. For example, if your company
offers a dental plan, you can change the name of one of the
miscellaneous deductions to Dental.

If you need to change these names, follow the steps in this

section.

Change Income and Deduction Names

1. In the Home window on the Setup menu, choose System
Settings, then Names and Terminology.

2. On the Payroll tab, rename any of the payroll income and

deduction fields to suit your company.

Pre-defined income types

are displayed on a shaded
background. They cannot
be renamed.

If you rename any of the

deduction fields,
remember to rename the
linked accounts
(described in Chapter 2).

3. Click OK.

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Chapter 3: Entering Basic Settings and Options

Enter Canadian Payroll Tax Information

1. In the Home window on the Setup menu, choose System
Settings, then Settings.

2. Under Payroll, choose Income, and fill in the information.

Indicate the taxes that apply Check the Vacation box

to each type of income. to calculate vacation pay.

This can be an hourly rate,

or a differential rate. These
terms are defined on the
next page.

This can be an income,

benefit, reimbursement,
hourly rate, differential rate,
or piece rate.

Enter the EI (Employment Insurance) factor, and the EHT

(Employer Health Tax for Ontario and Newfoundland),
and QHSF (Quebec Health Services Fund) rates.

System-defined Advance, Benefits, Benefits (Quebec), Vacation, Vacation

income types Paid, Regular, Overtime 1, and Overtime 2 are system-
defined incomes. For Advance, Benefit, and Benefits
(Quebec), you cannot modify the Unit of Measure or the tax
calculation options. For Regular, Overtime 1 and Overtime 2,
you can select either hourly rate or differential rate as the
income type, and you can modify the tax calculation options.

Insurable hours The Calculate Insurable Hours option lets you specify
whether the hours worked for the income should be reported
on paycheques as EI insurable hours. The Calculate Ins. Hrs.
option differs from the EI option, which indicates that the
income is subject to EI deductions.

You may or may not be able to select the Calculate Insurable

Hours option, depending on the income type:

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Part 1: Setting Up

If type of income is: Then Ins. Hrs. option:

Income Can be selected or not.
Hourly Rate Is selected automatically,
and cannot be edited.
Differential Rate (and Is not selected, and cannot
remaining income types) be edited.

The Calculate Insurable Hours option may determine

whether the Hours Per Period field appears on the Income
tab of the Employee Records window and the Paycheques
window.

Hourly and differential An hourly rate represents a base rate paid for standard work
rates or hours, whereas a differential rate represents a rate beyond
the standard or base rate. For example, you might pay a
differential rate for night shift hours, or for different types of
work.

3. Under Payroll, choose Deductions and fill in the

information.

Indicate whether
deductions should be
taken off before or after
tax is calculated.

4. Click OK.

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Chapter 3: Entering Basic Settings and Options

Enter U.S. Payroll Tax Information

1. In the Home window on the Setup menu, choose System
Settings, then Settings.

2. Click Payroll and then Income, and fill in the information.

Indicate whether each

type of income is taxable.

Can be an hourly rate or

differential rate.
Can be an hourly rate,
differential rate, income,
benefit, or reimbursement.
Enter the SDI (State
Disability Insurance), SUTA
(State Unemployment Tax
Act), and FUTA (Federal
Unemployment Tax Act)
rates.
Hourly and differential An hourly rate represents a base rate paid for standard work
rates or hours, whereas a differential rate represents a rate beyond
the standard or base rate. For example, you might pay a
differential rate for night shift hours, or for different types of
work.

3. Click Deductions and fill in the required information.

Select whether to deduct

a flat amount or a
percentage of the gross for
each deduction.

Indicate whether
deductions should be
taken off before or after
tax is calculated.

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Part 1: Setting Up

4. Click OK.

Set Up Linked Accounts for Payroll

You can set up a linked account for each of the income fields in
your payroll records, to keep track of different types of
employee income in separate wage expense accounts. You can
also link individual employees to a single wage expense account.
Linked accounts can provide additional detail and flexibility in
your payroll records.

To set up linked accounts for different types of employee

income:

1. In the Accounts window, add the account you want to link,

if it is not already there. (For instructions, see “Adding
Accounts” in Chapter 2.)

2. From the Setup menu, choose System Settings, then Linked

Accounts.

3. Select the Payroll Income tab.

For each type of income,

select a wage expense
account.

4. Click OK.

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Chapter 3: Entering Basic Settings and Options

To link an employee’s income to a single wage expense

account:

1. In the Accounts window, add the account you want to link,

if it is not already there. (For instructions, see “Adding
Accounts” in Chapter 2.)

2. Open the employee’s record, and then, on the Income tab,

select the account to link:

Click the second button,

then select a wage
expense account for the
employee.

3. Click the Save button on the toolbar or close the record.

Simply A payroll expense group is a group of linked accounts that

Accounting allows you to process payroll expenses for different groups of
Premium or employees to different accounts. Payroll expenses such as EI or
higher
CPP can also be assigned to the same group.

This feature is always on for new companies, and the existing set
of payroll linked accounts becomes the default payroll expense
group.

If you have upgraded your company from a version of Simply

Accounting that doesn't have payroll expense groups and have
set any employee's wage expenses to be recorded in an account
other than the payroll linked accounts (on the Income tab of the
employee's record), Simply Accounting creates a new payroll
expense group.

Setting up payroll expense groups is a three-step process:

■ Add the accounts you want to link. To add an account, see

“To Set Up Linked Accounts For Different Types of
Employee Income” later in this section.

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Part 1: Setting Up

■ Set up a payroll expense group. See “Setting Up a Payroll

Expense Group” later in this section to create a payroll
expense group.

■ Assign a payroll expense group to the employees you want

to include in this group. To assign a payroll expense group
to an employee, see “Adding Basic Employee Information”
in Chapter 15.

Setting Up a Payroll Expense Group

1. From the Setup menu, choose System Settings, then Linked

Accounts.

2. Click Payroll Expense Groups.

3. Select the My Company Uses Payroll Expense Groups box.

4. Click Add and enter the name of the expense group in the
Expense Group Description field.

5. Click the button in the Expense Group Description field.

For each type of income,

select a wage expense
account.

When you are

finished, click OK.

6. Click OK to close the Linked Accounts window.

To turn payroll expense group on or off:

1. In the Home window on the Setup menu, choose System

Settings, and Linked Accounts.

2. Click the Payroll Expense Groups tab.

3. Clear the My Company Uses Payroll Expense Groups box.

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Chapter 3: Entering Basic Settings and Options

4. Click OK.

If you turn off this feature, all employees will use the expense
accounts on the Payroll Income, Payroll Taxes, and Payroll User-
Defined Expenses tabs in the Linked Accounts window.

Enter Payment Options for Vendors and Customers

You can classify your outstanding bills and customer payments
according to when they are due. This helps you take advantage
of discounts on items you buy, and alerts you to contact
customers who have not paid on time.

You can also keep a record of the payment terms (discounts) you
receive from your vendors and offer to your customers, and can
have the program calculate interest on overdue sales invoices.

1. In the Home window on the Setup menu, choose System

Settings, then Settings.

2. Under Vendors and Purchases, choose Options and fill in the

information.

Enter the number of days

you use to classify amounts
you owe your vendors
(suppliers).

Check the box if you want

to calculate and deduct
discounts from the pre-tax
amount on an invoice.

3. Under Customers and Sales, choose Options and fill in the

information.

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Part 1: Setting Up

Enter the number of days

you use to classify the
amounts your customers
owe you.
If you want to print interest
charges on overdue
invoices and statements, fill
in these fields. Refer to
“Charging Interest on
Overdue Invoices” in
Chapter 13 for details.
Enter the payment terms
you give most customers.
(You can change this for
individual customers.)

4. Click OK.

Turning off orders and If your company does not use vendor or customer orders or
quotes quotes, you can prevent associated fields and toolbar icons from
appearing on sales and vendor invoices.

1. In the Home window on the Setup menu, choose Systems

Settings, then Settings.

2. Under Company, click Features.

Uncheck these boxes.

3. Click OK.

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Chapter 3: Entering Basic Settings and Options

Set Up Shippers
If you have Internet access, you can track shipments on your
shippers’ Web sites, as described in “Tracking Shipments” in
Chapter 22. First enter the following information.

1. In the Home window on the Setup menu, choose System

Settings, then Shippers.

2. Check the Track Shipments box, then fill in the information.

Check this box to be able

to track shipments.

Enter the name and Web

site for each shipper.

3. Click OK.

Set Up Printing and E-mail Options in Simply

Accounting
You can specify where Simply Accounting will start the
automatic numbering of invoices, orders, and other forms you
use.

The program can warn you if you are about to process a

transaction without printing or e-mailing it first, and can record
standard comments to include on the printed form or forms sent
by email.

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Part 1: Setting Up

Enter Options for Orders, Invoices, and Other Forms

1. In the Home window on the Setup menu, choose System
Settings, then Settings.

2. Under Company, choose Forms and fill in the information.

Check these boxes if you want to print in Check these boxes to display
batches (more than one at a time), as a warning if another invoice
described in the section“Print Forms in or receipt uses the same
Batches” in Chapter 22. number.
If you use preprinted forms
that include your company
name and address, leave
these boxes unchecked.

Check these boxes to

have the program warn
you if you enter a number
that is out of sequence.

Check these boxes to

have the program warn
you if you try to process an
entry without printing or
e-mailing it first.

3. Click OK.

4. If you want to set the next number for deposit slips, open the
Bank account record in the Accounts window and set the
number on the Class Options tab. (See “Set Up Bank
Accounts” in Chapter 2.)

5. To set the next number for cheques, choose Reports and

Forms on the Setup menu, and then Cheques. Select the
account the cheque is drawn from. Enter the cheque number
in the Next Cheque Number field.

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Chapter 3: Entering Basic Settings and Options

Add Standard Comments to Invoices and Other Forms

Add Comments to Printed Forms

You can include comments on printed sales order confirmations,

invoices, and sales quotes. For example, you could mention an
upcoming sale or a new product.

1. In the Home window on the Setup menu, choose System

Settings, then Settings.

2. Under Customers and Sales, choose Comments and fill in

the information.

Type a comment to
appear on printed forms.
You can change it on
individual transactions.

3. Click OK.

Include a Message with Forms You Send by E-mail

If you have a MAPI-compatible e-mail program (such as

QUALCOMM® Eudora® or Microsoft® Outlook® Express), you
can send purchase orders and purchase invoice confirmations to
vendors, and sales quotes, sales order confirmations, invoices,
receipts, and statements to your customers.

1. In the Home window on the Setup menu, choose System

Settings, then Settings.

2. Under Company, choose E-mail and fill in the information.

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Part 1: Setting Up

Type a message to send

with each type of form you
plan to e-mail. You can
change it on individual
forms.

You can use one of the forms that come with Simply
Accounting, or customize your own as described in
“Customizing Forms and Management Reports” in the
Advanced Topics file. (In the Home window on the Help
menu, choose Simply Accounting Manuals, then Advanced
Topics.)

3. Click OK.

Set Up Fields to Store Additional Information

You can store additional information in records (vendors,
customers, employees, and so on) or in transactions (purchases,
sales, and so on).

In Records
You can store information in up to five extra fields for each type
of record you keep (vendors, customers, employees, and so on).
First you name the fields you want to use, then you enter the
information in the individual records. For example, you could
store information about an alternative vendor or the name of an
employee’s spouse.

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Chapter 3: Entering Basic Settings and Options

To change the names of the fields:

1. In the Home window on the Setup menu, choose System

Settings, then Names and Terminology.

Set Field Or, within a specific record, click Set Field Names on the
Names toolbar or File menu.

On each tab, enter the

new field names you want
to use. If you leave a name
blank, the field will not
appear in the record
window.

To store additional information in the fields:

1. Open the record in which you want to store the additional

information.

On the Additional Info tab,

fill in the additional
information.

2. If you want Additional Information text to appear in a pop-

up window when you process a paycheque for this
employee, select the box under Display This Information
When The Employee Is Selected In A Transaction.

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Part 1: Setting Up

In Transactions
When entering transactions, such as purchases, sales, or
paycheques, you can store an additional date and an additional
field. You can define these two fields to store any date or
information you like, such as a voucher date and voucher
number. The fields will appear in the transaction detail reports.

To change the names of the fields:

1. In the Home window on the Setup menu, choose System

Settings, and then Names and Terminology.

2. On the Transactions tab, enter the new field names.

Enter the new field names

you want to use.

To enter additional information in the fields:

Enter 1. When you use one of the transaction windows (such as

Additional purchases, sales, payments, receipts, paycheques, and so on),
Information click Enter Additional Information on the toolbar, or choose
Enter Additional Information from the transaction menu,
such as the Purchase menu or Sales menu.

2. Enter the information in the fields.

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Chapter 3: Entering Basic Settings and Options

3. Click OK.

Create Job Categories

Simply Accounting If you use Simply Accounting Pro or higher, you can use job
Pro or higher categories to track which of your salespeople is responsible for a
specific order, and easily identify the employees who are
authorized to enter time slips.

Job categories can also save you time when entering invoices and
time slips:

■ Only employee names that are assigned to a salesperson

category appear in the Sales, Orders and Quotes window (in
the Sold By field).

■ Only employee names that are assigned to a job category

that is required to submit time slips appears in the Time Slip
window (in the Employee field drop-down list).

■ You can group employees into job categories for payroll

reporting purposes.

To set up job categories:

1. In the Home window on the Setup menu, select System

Settings, and choose Settings, Payroll, and then Job
Categories.

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Part 1: Setting Up

2. Enter a category name and indicate whether an employee

assigned to this category must submit time slips and/or is a
salesperson

■ If an employee is assigned to a job category that must

enter time slips, their name can be selected from a
drop-down list on the time slip entry window.

■ If an employee is assigned to a job category identified as

a salesperson, the employee name can be selected from a
drop-down list on sales invoices, orders, and quotes.

3. Click the Assign Job Categories button to assign employees

to the new categories. You can also assign individual
employees to a job category on the Personal tab of an
employee record.

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Chapter 3: Entering Basic Settings and Options

Choose None from the Job Category list to view unassigned

employees.

4. Click OK.

Customize Colours and Fonts for Reports

You may want to change the font you use for printing (for
example, a smaller font lets you print more information on a
page).

You may also want to use different colours to emphasize

different parts of your reports. Follow the instructions below to
change colours for the reports you display and print in Simply
Accounting.

1. In the Home window on the Setup menu, select Reports and

Forms, then Reports and fill in the information.

Select the font, type size,

and colour you want to use
for different sections of
reports.

Click the box, then select a

colour.

2. For each report or form you plan to print, select the settings
you need.

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Part 1: Setting Up

You can select a

different printer for each
form you use.

You can customize the

form, as described in
“Customizing Forms and
Management Reports”
in the Advanced Topics
manual.

3. Click OK.

Set Display Preferences

You can customize the colours and other display options in
Simply Accounting. If you are using Simply Accounting Pro or
higher with multiple users, each user can set display preferences,
and the program will use those settings when the user logs in.

1. In the Home window on the Setup menu, choose User

Preferences, then the Colour Scheme tab.

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Chapter 3: Entering Basic Settings and Options

Select the colours and

backgrounds you want to
use in different parts of
Simply Accounting.

2. Select the Options tab.

Select accounting or
non-accounting terms.
The Simply Accounting
manuals use non-
accounting terms.

Select a language for

Excel spreadsheets.

3. Choose from the following options:

■ Automatically Save Changes to Vendor, Customer

and Other Records. Check this box if you do not need
to be reminded to save whenever you close a record.

■ Show List Buttons Throughout Simply Accounting for

Easier Data Entry. Check this box to display a button

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Part 1: Setting Up

that pops up a list of possible entries in a field. The list

makes data entry easier, since you can select from it
rather than having to remember the exact name or
spelling of the entry you want.

■ Automatically Refresh Lists. If you’re using Simply

Accounting Pro or higher, with multiple users, check
here to have records updated automatically when other
users make changes.

■ Show A List Of Inventory Items When An Unknown

Inventory Item Number Is Entered. Check this box to
display a list of all inventory items if an item number is
entered incorrectly.

■ Always Apply Allocation To Entire Transaction.

Check this box if you want to automatically allocate all
items in a transaction to the same project (this option can
be changed on individual transaction records).

4. Click OK.

Modify Transaction Windows

Simply If you use Simply Accounting Premium or higher, and have full
Accounting accounting rights, you can modify transaction window names,
Premium or making your accounting environment more suited to your
higher
company terminology.

For example, if your business is part of the catering industry,

you may wish to identify vendors as suppliers, customers as
clients.

Note: If you entered a Company Type during setup, transaction

windows automatically display industry-specific names. You
can modify these names manually, as described next.

To modify transaction window names:

1. Switch to single-user mode, if required.

2. In the Home window on the Setup menu, select System

Settings, and then choose Names and Terminology.

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Chapter 3: Entering Basic Settings and Options

■ On the Vendors tab, in the Terminology section, choose

the module name and select terms for Vendors,
Purchases, Invoices, and Payments, if required.

■ On the Customers tab, in the Terminology section,

choose the module name and select terms for
Customers, Sales, Invoices, and Receipts, if required.

3. Click OK to save your changes.

Date Format
To avoid confusion over transaction dates (such as 11-12-10) you
can define how dates will display, both on your screen and on
reports.

To modify the date format:

1. In the Home window on the Setup menu, select System

Settings, and then Settings. Under Company, select Dates
and complete the following:

Specify short date and long

date formats.

Specify a format to display

on the screen and on
reports.

■ If you plan to use short dates, specify the format and

separator and then indicate when you want to view
short dates, for on-screen use or in reports.

■ If you plan to use the long date format, specify the

format and when you want to use long dates.

2. Click OK to save your changes.

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Part 1: Setting Up

Switch between Different Languages

In the Canadian version of Simply Accounting, you can switch
from the English version to the French version and back again
instantly. If you run your business in both languages, or if you
keep books for several companies and want to be able to use
either language easily, this feature will save you time and
money, since you don’t need to buy, install, and set up two
versions of the program.

All the Simply Accounting features, including all on-screen

displays, printed reports, and the online help and manuals, are
instantly available in the other language. However, note that a
few fields that contain information specified by the user (such as
the name of the Project module, or names of some tax codes or
employee income fields) may remain in the original language
after switching.

To switch to French:

1. Choose View on the Home window menu bar, and select

Passer au français or Switch to French.

To set up a preferred language for vendors, customers,

employees, or users:

1. Open the Vendors window and select a vendor.

For each vendor for whom you want to specify a language

preference, go to the Options tab and specify the language in
the Conduct Business In field.

2. Open the Customers window and select a customer.

For each customer for whom you wish to specify a language

preference, go to the Options tab and specify the language in
the Conduct Business In field.

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Chapter 3: Entering Basic Settings and Options

Choose a customer
language. You can
change this setting at any
time.

3. To specify a language preference for an employee, open the

Employees window and choose a language preference on
the Personal tab.

4. To specify a language for Simply Accounting users, choose

the Setup menu in the Home window, then choose Set Up
Users. Select a user and click Modify. Choose a language
preference. Click OK.

Set Up Users
If more than one person uses your data, it’s a good idea to set up
user security, including passwords. User security can control
whether a user can display or change certain data, identify who
created a transaction, prevent unauthorized use of certain parts
of the program, or exclude users altogether. You can also control
the way non-Simply Accounting products such as Crystal
Reports® or Microsoft Access use your data.

Once you set up a password for a user, the user must always
enter the password when starting Simply Accounting, unless
you later choose to clear passwords, as described later in this
section.

Simply Accounting Note that, if you are using Simply Accounting Pro or higher and
Pro or higher multiple users are sharing a company file simultaneously on a
network, you must add a unique name for each user of your
data. However, the users do not need passwords.

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Part 1: Setting Up

What Type of Security Do You Need?

Think about who will be using your data and how you want to
track or restrict its use. For example, you might allow only one
or two people to see or make changes to the payroll. Or you
might allow a user to change accounts, but not display or print
financial reports.

For security reasons, passwords are displayed only as asterisks.

Because you need the sysadmin password to make changes to
other users and their passwords, you should keep a record of it
in a secure place.

The following table shows the different types of access rights on

the Set Up Users window that you can assign to different users.

Simply Accounting If you use Simply Accounting Pro or higher, you can add users
Pro or higher to Simply Accounting who are authorized to enter time slips for
only one employee (either themselves or an assigned employee)
or all employees.

A Time Slip Entry user can view only the Time Slips entry
window. The rest of the Home window is hidden. The user can
select and record time slips only for the employee(s) they have
rights for. And they can lookup time slips only for those
employees.

Type of User (Simply Accounting Pro or higher only)

Accounting User An accounting user is granted access and rights to
specified records and transactions.

Time Slip Entry User A time slip entry user can only enter time slips for all
employees or a specified employee.

Access Rights
System Administrator The primary user of your data is called the system
administrator, or sysadmin. This person is allowed
rights to all of your company’s data. Only the system
administrator can add users and assign rights to them.

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Chapter 3: Entering Basic Settings and Options

Full Accounting Rights Unrestricted access to all modules. A user who is

assigned the Full Accounting Rights option has the
same rights as the sysadmin user, except for the right to
add, remove or modify users.

Allow Access If you select this option for a module, then its related
edit, view, and report options are also automatically
selected. You can then select or de-select the options.

For Records (such as accounts, customers, vendors, and so on)

This type of access: Enables user to:
Modify Add, change, or delete the module’s records.

The right to view is also automatically assigned.

View View the module’s records, but not edit them (unless
the right to modify is also assigned).

Reports Display, print, and export the module’s reports, graphs,

list reports, mailing labels, and management reports.

For Transactions (such as purchases, payments, sales, and so on)

This type of access: Enables user to:
Enter Add, change, or delete the module’s transactions and
adjustments to be processed.

Import purchase and sales orders.

(The right to look up is also automatically assigned.)

Lookup Look up and view the module’s transactions, but not

edit them (unless the right to enter is also assigned).

Reports Display, print, and export the module’s transaction

reports and graphs, but not list reports, mailing labels,
and management reports.

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Note: Only the sysadmin user, or a user who is granted full accounting rights, has
access to: the Restore command on the File menu; Settings on the Setup, Wizards menu;
Company Information, Names, Settings, and Credit Cards on the Setup, System
Settings menu; and to some Clear commands. Only the sysadmin user has access to Set
Up Users on the Setup menu.

No Access (all options If, for a user, you clear all options on the Set Up User window,
cleared) then the user will not have access to any module. The
module’s icons will not appear, except the Accounts,
Miscellaneous Transactions, and Reconciliation and Deposits
icons, which appear with a no-entry symbol . The user can
display some items, such as Checklists, and Company
Information, but not the Daily Business Manager.

Access to other Depending on a user’s access rights, information may be

features, such as the restricted in some Simply Accounting features, such as the
Daily Business Checklists or Daily Business Manager. For example, a user
Manager
may see only certain types of transactions or only certain tabs
in the Daily Business Manager.

The user’s setup will also affect importing and exporting data.

Symbols Note the following symbols that appear in Simply Accounting

to indicate whether a user can gain access to a particular
module:

Symbol in the
Home window is: Means:
No Access. Cannot use the module
but may have access to view or print
reports if set up for it.

View (or Lookup) only. Cannot add,

change, or delete information in the
records of the module.

No symbol Allow Access. Access permitted to the

module, except for reports if user is
denied access to reports.

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Chapter 3: Entering Basic Settings and Options

Preventing Users from Viewing or Changing Simply Accounting Data in Other

Programs

You can use other products, known as third-party products, with

Simply Accounting. For example, you can use Crystal Reports or
Microsoft Access to customize reports or analyze your data in
different ways.

Warning! If you allow users any rights to read data with third-party
products, note that they may be able to use those products to
read more of your company’s data than you want them to, no
matter what rights they have within Simply Accounting. Be
careful about allowing users rights to use third-party products.

Changes in your data We strongly recommend that you do not alter data using
programs other than Simply Accounting, because you could
cause unexpected changes in your data, leading to data integrity
problems.

To allow or deny users the right to gain access to Simply

Accounting data through other products, refer to “Adding or
Changing a User,” later in this section.

Setting Up or Changing a Password for the System Administrator

To add or remove users, the system administrator must have a
password.

Do not forget the system administrator’s password. Without it,

you may not be able to use all parts of the program or control
other users’ security rights.

To set up or change a password for the system

administrator:

1. Open your Simply Accounting data using the sysadmin

name and password. If you are setting up a sysadmin
password for the first time, when you open the company,
you will already be logged on as the system administrator.

2. In the Home window on the Setup menu, choose Set Up

Users.

3. Select sysadmin, then click Modify.

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In the Canadian
version of Simply
Accounting, you can
select the user’s language
preference.

Enter a password (letters,

numbers, or both). You can
include both upper- and
lower-case letters. The
password is case-sensitive;
that is, if you enter a
password and type the
correct letter in the wrong
case, the password will not
work.

4. Click OK.

Note: Once you have created a password for the system

administrator, you must always enter a user name and password
to open the company. You can delete the sysadmin password, as
described under “Deleting a User’s Password,” or by using the
Clear button, as described under “Removing Security,” later in
this chapter.

Adding or Changing a User

Only the system administrator can add a new user, or change the
rights of an existing user. To add a user, the system
administrator must have a password.

Each user must have a unique name, but more than one user can
use the same password.

To add a user:

1. Open your Simply Accounting data using the sysadmin

name and password.

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Chapter 3: Entering Basic Settings and Options

2. In the Home window on the Setup menu, choose Set Up

Users, then click Add User and fill in the information.

In the Canadian version of Simply

Accounting, you can select the user’s
Type the user’s name, up to
language preference.
14 characters, and if you
use Simply Accounting Pro
or higher, indicate whether
this user is restricted to time
slip entry.

Type a password for the

user, up to seven
characters, then re-type it
to confirm.

Check or clear the boxes to

allow edit, view, reports, all,
or no rights to this user.

Click one of these options to

define the user’s rights to
access to third-party products.

Simply Accounting If you use Simply Accounting Pro or higher, you can restrict
Pro or higher this user to time slip entry only. Refer to the section “What
Type of Security Do You Need?” earlier in this chapter for
more information about time slip entry users.

3. In the User’s Rights With Third-Party Products area, select

the rights you want to allow this user from non-Simply
Accounting products. Note that some third-party products
require exclusive access to be able to modify the database.

Note: If you allow the user any rights to read data with
third-party products, they may be able to use those products
to read more of your company’s data than you want them to,
no matter what rights they have within Simply Accounting.
Be careful about allowing users rights to use third-party

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Part 1: Setting Up

products. We recommend that you set this option to allow

no access to your data.

4. Click OK.

Changing a Password for a User

Either the system administrator or the user can change a user’s
password. However, only the system administrator can change
the user’s access rights.

To change a user’s password:

1. Open your Simply Accounting data, using either the user’s

or the sysadmin name and password.

2. In the Home window on the Setup menu, choose Set Up

Users.

3. If you opened the data using the sysadmin name and

password, select the user’s name, then choose Modify.

4. Type the new password.

In the Canadian version

of Simply Accounting, you can
select the user’s language
preference.

Type a password for the

user, then re-type it to
confirm.

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Chapter 3: Entering Basic Settings and Options

5. Click OK.

Changing a User’s Rights to Use Data

Only the system administrator can change a user’s rights.

To change a user’s rights:

1. Open your Simply Accounting data, using the sysadmin’s

name and password.

2. In the Home window on the Setup menu, choose Set Up

Users.

3. Select the user’s name, then choose Modify and fill in the
information.

In the Canadian version

of Simply Accounting, you can
select the user’s language
preference.

Choose whether this user

is restricted to time slip
entry.

Check or clear the boxes

to allow all, some, or no
rights to this user.

4. Click OK.

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Part 1: Setting Up

Deleting a User’s Password

Either the system administrator or the user can delete a user’s
password. The user will still be restricted to the parts of the
program allowed by the system administrator, but will not need
a password to open the data.

Note: You can delete a system administrator’s password only if

no other user records exist. To delete a system administrator’s
password, see “Removing Security” later in this chapter.

To delete a user’s password:

1. Open your Simply Accounting data, using either the user’s

or the sysadmin’s name and password.

2. In the Home window on the Setup menu:

■ If you opened the data using the sysadmin name and

password, choose Set Up Users.

■ If you opened the data as a user, choose Change

Password.

3. If you opened the data using the sysadmin password, select

the user’s name, then choose Modify.

If you opened the data as a user, enter the user password.

4. Delete the password, as follows.

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Chapter 3: Entering Basic Settings and Options

In the Canadian version

of Simply Accounting, you can
select the user’s language
preference.

Press the Backspace key

on the keyboard to
remove the password,
then repeat in the
Re-enter Password field.

5. Click OK.

Deleting a User
Only the system administrator can delete a user.

To delete a user:

1. Open your Simply Accounting data using the sysadmin’s

name and password.

2. In the Home window on the Setup menu, choose Set Up Users.

3. Select the user that you want to delete, and click Remove
User. You cannot delete the system administrator
(sysadmin).

4. Click OK.

Removing Security
If you decide that you do not want to use any passwords at all,
and prefer to allow free access to your data to everyone, you can
clear all the passwords and users you have set up.

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Part 1: Setting Up

Note that if you are using Simply Accounting Pro or higher on a

network, you must have users set up if you want more than one
person to use your company data at the same time.

To remove security:

1. Open your Simply Accounting data using the sysadmin’s

name and password.

2. In the Home window on the Setup menu, choose Set Up

Users, then click Clear.

Click Clear to remove all

security and passwords.

Note that you cannot remove the system administrator

(sysadmin) from the list of users. However, the sysadmin
password will be set to blank, so you will not be asked to
enter a password the next time you start Simply Accounting.

3. Click OK.

Restoring a Damaged Security File

In the unlikely event that you see a message warning you that
your security file has been damaged or deleted, you can restore
your sysadmin password and list of users. You can use either the
Restore Security From Backup wizard, or the Repair Security
command on the Maintenance menu, as described in this section.

Do not use the Repair Security command unless your security file has
been damaged. It removes all user passwords from your security
settings.

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Chapter 3: Entering Basic Settings and Options

To repair a damaged security file using the Restore Security

From Backup wizard:

1. Start Simply Accounting. If the security file is damaged, the

Restore Security From Backup wizard appears.

2. Follow the steps on the screen to restore your most recent

backup for this company.

3. Re-enter all your user passwords. (On the Setup menu,

choose Set Up Users, then enter a password for each user.)

To repair a damaged security file from the Maintenance

menu:

1. Start Simply Accounting.

2. In the Select Company window, choose Restore From

Backup to restore the most recent backup of your Simply
Accounting data to a temporary folder.

3. Copy the .SDW file from the temporary folder to the folder
where you store your current Simply Accounting data.

4. Open your data using the sysadmin name and the password
that was in effect on the date you made the backup.

5. In the Home window, on the Maintenance menu, choose

Database Utilities, then Repair Security.

6. On the Setup menu, choose Set Up Users, then enter

passwords for the users.

To repair a file that was damaged while using Simply

Accounting data in another program:

1. Start Simply Accounting.

2. If the Restore Security From Backup wizard appears, follow

the steps above under “To repair a damaged security file
using the Restore Security From Backup wizard.”

If the wizard does not appear, follow the steps above under “To
repair a damaged security file from the Maintenance menu.”

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Chapter 4
Making and Accepting Credit-Card
Payments

You can pay for your purchases with a credit card and accept credit-card
payments from your customers. Simply Accounting calculates and tracks any
fees you owe the credit-card company.

Add Credit-Card Accounts ......................................................... 4–1

Enter Information about Credit Cards ............................................... 4–2

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Chapter 4: Making and Accepting Credit-Card Payments

What You Need to Do

‰ Add credit-card accounts.

‰ Enter information about the credit cards you use and accept.

Add Credit-Card Accounts

You can accept credit-card payments from your customers, and
use credit cards to pay for purchases you make from your
vendors. When you accept a credit-card payment from a
customer, Simply Accounting automatically calculates any fee
you owe the credit-card company and keeps track of it in a
separate account. Later, you can use the Account Reconciliation
feature to verify the credit-card merchant statements against
your records.

Tip: You’ll find it much easier to keep track of your credit-card

sales and purchases if you set up an account for each credit card
you accept or use, rather than having a single account for all
credit cards. Having separate accounts also makes it easier when
you reconcile the statements you receive from the credit-card
merchants whose cards you accept.

To set up credit-card accounts:

1. In the Home window on the General tab, choose the

Accounts icon.

2. For each type of credit card you accept from customers, add:

■ An asset account for the amounts you will collect from

the credit-card issuer for customer payments.

■ An expense account for the fees you pay to the

credit-card issuer.

3. For each type of credit card you use to make payments, add:

■ A payable or liability account for the amounts you will

pay to the credit-card issuer when they send you a
statement of the purchases you have made with their
card.

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Part 1: Setting Up

■ An expense account for any fees or interest charges you

pay to the credit-card issuer.

Save 4. On the File menu, choose Save.

5. Go to the next section to add information about the credit

cards you use.

Enter Information about Credit Cards

Make a list of the credit cards you use and accept, and their
associated accounts.

1. In the Home window on the Setup menu, choose System

Settings, then Credit Cards.

2. Click the Credit Cards Accepted tab and fill in the

information.

Enter the percentage the

card company charges on
each transaction.
Type the names of the
credit cards you accept
from customers.

Enter an account to keep

track of the fees you pay to
the credit-card company.

Select the account where

you want to record the
amount the credit-card
company will pay you (this
can be a bank account or
an asset account).

3. Click the Credit Cards Used tab and fill in the information.

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Chapter 4: Making and Accepting Credit-Card Payments

Enter the account that

tracks the amount you
owe the credit-card
company.

Enter the names of the

credit cards you use for
company purchases.

Enter the account that

keeps track of the fees you
owe, such as interest
charges on overdue
amounts.

4. Click OK.

Where To Now?
‰ You can use Simply Accounting to save time and trouble in
reconciliation, the process of matching your bank and
credit-card statements against your own records and
accounting for any differences. For more information, refer
to “Set Up Accounts for Reconciliation,” in Chapter 2.

‰ For more information about using credit cards for purchases

and sales, see Chapter 12, “Buying,” and Chapter 13,
“Selling.”

‰ For more information about merchant statements of credit

card transactions, see the section “Receiving Money from
Credit-Card Sales,” in Chapter 20.

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Chapter 5
Setting Up Projects

You can use Simply Accounting to keep closer track of the revenues and
expenses associated with a particular activity, by allocating them to various jobs,
projects, or departments.

Why Would I Use Projects? ......................................................... 5–1

Turn On the Project Allocation Option ............................................... 5–2
Rename the Project Module......................................................... 5–2
Decide How to Allocate ............................................................ 5–3
Add a List of Projects .............................................................. 5–4

Setting Up
Projects

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Chapter 5: Setting Up Projects

What You Need to Do

‰ Turn on the project allocation option.

‰ If you want to, rename the Project module.

‰ Decide how you want to allocate to projects.

‰ Add a list of projects.

Why Would I Use Projects?

If you allocate (distribute) all or part of a transaction to one or
more projects, revenue centres, or cost centres, you can produce
detailed or summary reports on specific parts of your business.
For example, if an employee works for one day a week on
Project A and four days on Project B, you can allocate 20 percent
of the payroll expense for that employee to Project A and
80 percent to Project B.

The Project module does not have its own transaction window.
You use the following types of transactions to allocate amounts
to projects:

■ Purchases.

■ Sales.

Paycheques, including payroll cheque runs.

Setting Up
■

Projects
■ Miscellaneous transactions.

■ Inventory adjustments.

■ Time slips.

For more information, see Chapter 17, “Allocating Revenues and

Expenses to Projects.”

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Part 1: Setting Up

Turn On the Project Allocation Option

The revenue and expense accounts that come with the Simply
Accounting templates are already set to allow project allocation.
However, if you add new accounts, or if you want to allocate
from other types of accounts, you must turn on the option for
each account.

If you plan to allocate from asset, liability, or equity accounts, we

recommend that you check with your accountant.

1. In the Home window on the General tab, choose the

Accounts icon, open the account you want to use for
allocation, then check the Allow Project Allocations box.

This field appears only in

the Canadian version.

Check this box to allocate

amounts to projects from
this account.

Save 2. On the File menu, choose Save.

Rename the Project Module

You can use the project features in Simply Accounting to keep
track of jobs, cost centres, profit centres, departments, branches,
or any other type of division. If you prefer not to call these
“projects,” you can rename the module.

1. In the Home window on the Setup menu, choose System

Settings, then Names and Terminology.

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Chapter 5: Setting Up Projects

On the Project tab, enter a

new name. This will rename
the Project tab and icons
in the Home window, and
change the name on
screens and reports that
relate to projects.

2. Click OK.

Decide How to Allocate

You can allocate amounts to projects by either percentage or
amount. On paycheques, you can also allocate by hours.

1. In the Home window on the Setup menu, choose System

Settings, then Settings.

2. Under Project, choose Allocation, and fill in the information.

Setting Up
Projects
Select the allocation
method you want to use.
If you normally allocate the
full amount of revenues or
expenses to projects, check
this box. The program will
warn you if you try to process
an entry with less than the full
amount allocated.
Check this box if you want
access to the Allocate field in
transactions by using the Tab
key. If you generally don’t
allocate, turn off to skip.

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Part 1: Setting Up

3. Click OK.

Add a List of Projects

1. In the Home window on the Project tab, choose Add Project
or the Project icon.

2. On the File menu or toolbar, choose Create, then fill in the

information on the Project tab.

Fill in information about the

project.

See “Set Up Project

Budgets” in Chapter 6 for
information about this tab.

You can enter additional

information about the
project. To change field
names, go to Setup,
System Settings, Names
and Terminology.

Save 3. On the File menu, choose Save.

Where To Now?
‰ To find out more about project allocation, refer to
Chapter 17, “Allocating Revenues and Expenses to Projects.”

‰ If you want to set up project budgets, refer to “Set Up Project

Budgets” in Chapter 6.

‰ For more information about cost allocation in general, read

Chapter 20, “Cost Accounting,” in the Accounting Manual.

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Chapter 6
Setting Up a Budget

A budget helps keep your business on track by setting out a detailed plan that
predicts where your money is coming from and where it’s going. Use it to spot
problem areas quickly and run your business more effectively.

Turn on the Budgeting Option ...................................................... 6–1

Add Budget Information to the Accounts ............................................ 6–2
Set Up Project Budgets ............................................................. 6–4

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Chapter 6: Setting Up a Budget

What You Need to Do

‰ Turn on the budgeting option.

‰ Add budget information.

‰ If you use projects, set up project budgets.

Turn on the Budgeting Option

† Turn on budget option To be able to set up budgets in Simply Accounting, you need to
† Add budget info turn on the budgeting option. You will then be able to compare
† Set project budgets your company’s actual performance to the budget estimates.

1. In the Home window on the Setup menu, choose System

Settings, then Settings.

2. Under General, choose Budget, and fill in the information.

Check this box to set up a

budget.

Select a budget period

frequency. Monthly is the
most common choice.

3. Click OK.

If you later decide not to use budgets, you can turn off the
option by unchecking the box.

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Part 1: Setting Up

Add Budget Information to the Accounts

5 Turn on budget option For each account you want to include in your budget, use the
† Add budget info Accounts window to enter an estimated amount for each budget
† Set project budgets period. Or, if you receive budget information from your
company’s head office or other authority, you can import a
budget in .CSV format. For more information about importing
budgets, refer to Chapter 3 in Advanced Topics. (In the Home
window on the Help menu, choose Simply Accounting Manuals,
then Advanced Topics).

Later, if you want to modify your budget expectations quickly

for all revenue or expense accounts, use one of these two
methods:

■ Update Budget Amounts on the Maintenance menu.

■ Export your current budget information to a spreadsheet

where you can update one or more accounts by an amount,
calculation, or percentage.

For more information on modifying budgets, refer to “Quickly

Updating Your Budget,” in Chapter 20.

Tip: Budget accurately. Don’t feel that you have to fill in the
same amount for each period. Consider seasonal sales, one-time
or annual expenses, and so on.

Enter budget amounts:

1. In the Home window, open the Accounts window.

2. Select the revenue or expense account you want to include in

your budget. (Revenue accounts are usually numbered 4000
to 4999, and expense accounts are usually 5000 to 5999.)

3. On the Budget tab, check the Budget This Account box.

4. If you are not using departments for your accounts, fill in the
information as follows:

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Chapter 6: Setting Up a Budget

If the budget period is

Annual, a single budget
amount field appears
here.

Click this button to

distribute the Total
Budgeted Amount in equal
amounts to each period.

Simply Accounting If you are using departments for your accounts (available if
Pro or higher you use Simply Accounting Pro or higher), the Budget tab
looks like this:

Fill in the information as follows:

a) Enter the Total Budgeted Amount.

b) To distribute the Total Budgeted Amount in equal

amounts to each period, click the Allocate To Period
button. The distributed amounts appear on the first line,
Budget Amount.

c) Adjust the Budget Amount values if necessary.

d) To automatically distribute each period’s Budget

Amount value, in equal amounts, to each department,
click the Allocate To Dept. button. For example, in the
previous illustration, the Budget Amount for July ($500)
is distributed to departments 0100 and 0200 for July, in
equal amounts of $250 each.

e) Adjust the department amounts if necessary.

Save 5. Repeat steps 2 to 4 for each account you want to budget, then
on the File menu, choose Save.

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Part 1: Setting Up

Set Up Project Budgets

5 Turn on budget option You can set up a budget for any project. When you allocate
5 Add budget info amounts to projects as you record revenues and expenses,
† Set project budgets Simply Accounting keeps track of the amounts, so that you can
compare the actual cost of the project to a budget estimate and
spot potential cost overruns early.

To set up a project budget:

1. In the Home window, on the Setup menu, choose System

Settings, then Settings.

2. Under Project, choose Budget, and fill in the information.

Check this box to budget

projects.

Select a budget period for

your projects. This can be
different from the regular
company budget periods
you set up on the General
tab.

3. Click OK.

4. In the Home window, open the Project window, select the

project you want to budget, and fill in the information.
Fill in the expected
revenues and expenses for
each period.
Keep an eye on the
budgeted profit. If you’re
doing better than
expected, you can be
more flexible when
negotiating prices with
suppliers and customers.

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Chapter 6: Setting Up a Budget

Simply Accounting 5. If you are using Simply Accounting Pro or higher, click the
Pro or higher Details button to enter budget information for revenues and
expenses in specific accounts.

Save 6. Repeat steps 4 and 5 for each project you want to budget,
then on the File menu, choose Save.

Where To Now?
‰ To find how to allocate revenues and expenses to projects,
refer to Chapter 17, “Allocating Revenues and Expenses to
Projects.”

‰ To find out about the budget reports you can use in Simply
Accounting, refer to “Checking Your Budget” in Chapter 20.

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Chapter 7
Using Simply Accounting on a
Network

With Simply Accounting Pro or higher, up to six people can use the same set of
company data at the same time.

Set Up Your Network .............................................................. 7–1

Install Simply Accounting on the Network ........................................... 7–2
Set Up Users and Passwords ........................................................ 7–2
Multi-User vs Single-User Mode .................................................... 7–3

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Chapter 7: Using Simply Accounting on a Network

What You Need to Do

‰ Set up your network.

‰ Install Simply Accounting on the network.

‰ Set up security levels and passwords.

Set Up Your Network

† Set up your network With Simply Accounting Pro or higher, you can allow more than
† Install Simply one user to use the same Simply Accounting data at the same
Accounting time.
† Set up user passwords
The steps you need to take to set up your network may vary,
depending on your network operating system and on the version
of Windows you are using.

‰ Install the latest network drivers for your network operating

system, and the latest service packs and patches for your
version of Windows.

‰ Check that the network hardware and software are up to

date and running correctly. Network problems could
damage your Simply Accounting data.

‰ Consult your network provider or system administrator if

you need help with questions about your network.

‰ Set up the folder where you store your Simply Accounting

data so it can be shared with other users. Assign
read/write/create access rights to this folder (usually
\Program Files\Winsim2006\Data).

‰ Under some operating systems, you may need to assign full

control to the user’s Simply.ini file.

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Part 1: Setting Up

Install Simply Accounting on the Network

5 Set up your network You can either install a full version of the program on each user’s
† Install Simply computer, or install a full version on a single computer or server
Accounting and install components on individual workstations that allow
† Set up user passwords them to use the full version.

Installing the full software on every computer allows it to run

faster; however, each time you receive a new version of the
software (such as a payroll tax update), you must install the
update on every workstation. By installing a full version of
Simply Accounting on a single computer or server, and smaller
components on individual workstations, you significantly
reduce the amount of time it takes to install the most current
version of the software throughout your company.

To install Simply Accounting on every computer:

1. Follow the instructions on the Simply Accounting CD case.

To install Simply Accounting Pro or higher on a single

computer or server:

1. Install the full version of Simply Accounting Pro or higher

on one computer or server, following the steps for regular
installation, as described on the Simply Accounting CD case.

2. At each workstation, install Simply Accounting components.

When the program asks you to select an installation type,
choose Simply Accounting Workstation Components, and
then follow the instructions on the screen. You must also
specify a folder where data will be stored and shared by all
users.

Set Up Users and Passwords

5 Set up your network You must set up users if you plan to run Simply Accounting on a
5 Install Simply network. You can set their passwords to blank, or assign them all
Accounting the same password, but each user must have a different name.
† Set up user passwords

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Chapter 7: Using Simply Accounting on a Network

It’s a good idea to set up passwords to prevent unauthorized

access to your data. For instructions, refer to “Set Up Users” in
Chapter 3.

Multi-User vs Single-User Mode

After you have set up users, you can open the company in multi-
user mode to allow additional users to log on. However, you can
lock other users out of the data by starting Simply Accounting in
single-user mode.

If you open your data in multi-user mode, some menus and

options are not available, even if you log on as sysadmin. This
feature protects your data by preventing other users from using
the data while it is being updated.

Opening the company data in single-user mode as the sysadmin

gives you full access to all menus and options.

After you open Simply Accounting, you can switch between

multi-user and single-user mode. In the Home window on the
File menu, choose Switch To Single-user Mode or Switch To
Multi-user Mode.

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Chapter 8
Setting Up Printers

Before you print reports and forms, check that your printer works properly with
Simply Accounting.

Before You Start ................................................................... 8–1

Test Your Printer .................................................................. 8–1
Test Reports ................................................................... 8–1
Test Other Forms .............................................................. 8–2
Helpful Hints ..................................................................... 8–3
Troubleshooting ............................................................... 8–3
Setting Negative Margins ....................................................... 8–4

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Chapter 8: Setting Up Printers

What You Need to Do

‰ Test your printer.

‰ If your printer doesn’t work properly with Simply

Accounting, troubleshoot the problems.

Before You Start

‰ Install at least one printer to work with Microsoft Windows.

‰ Select a printer and specify printer settings for each type of

form in Simply Accounting.

‰ The program remembers both the printer and the settings

you selected every time it prints that type of form. To select
a printer and settings, see “Set Up Printing and E-mail
Options in Simply Accounting” in Chapter 3.

‰ Make sure your printer is correctly connected to your

computer with the paper loaded and the power on.

Test Your Printer

† Test your printer You should test all types of forms to see if your printer prints
† Troubleshoot them properly.

Test Reports
As a test, print a two-page report such as the chart of accounts.

To print the chart of accounts:

1. In the Home window on the Reports menu, choose Lists,

then Chart Of Accounts. Click OK.

2. On the File menu, choose Print.

3. Check the printed report.

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Part 1: Setting Up

Test Other Forms

After you print a report, as described in the previous section, test
each type of form you plan to print.

You can print payroll cheques, payment cheques, invoices,

purchase orders, sales order confirmations, quotes, receipts, and
customer statements on 8½-by-11-inch or 8½-by-7-inch forms, or
on custom forms. (Custom forms are explained in the Advanced
Topics file “Customizing Forms and Management Reports.” In
the Home window, on the Help menu, select Simply Accounting
manuals, then Advanced Topics.)

The paper size for Canadian T4 and Relevé 1 slips and American
W-2 forms may vary. Check the latest Simply Accounting Tax
Update for more information about printing these forms.

If the form does not print properly, use the steps that follow to
adjust your printer settings. Follow the same steps for all forms.

These steps use customer statements as an example. You can test them
using blank 8½-by-11-inch paper or preprinted 8½-by-11-inch or
8½-by-7-inch customer statement forms.

To print a customer statement:

1. In the Home window on the Setup menu, choose Reports

And Forms, then click Statements, and confirm that the
form-size setting matches the size of your statement forms.
Click OK.

2. In the Home window on the Reports menu, choose

Customers And Sales, and then Customer Statements.

3. Select at least two customers from the list, and click OK.

You must print statements for at least two customers, to see

where the second statement starts printing and to see
whether your printer knows how long a statement should
be.

4. Check the printed statements. They are printed properly if:

■ The print lines up properly on the page.

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Chapter 8: Setting Up Printers

■ The second statement starts in the correct place. This

depends on the page size of your forms:

8½ by 11 inches: The second statement starts printing

at the top of the next 8½-by-11-inch page.

8½ by 7 inches: The second statement starts printing

seven inches below the start of the first (except when
printing on laser printers). You would only use this page
size for dot-matrix printers.

Helpful Hints
Troubleshooting
If the samples you printed in the previous section did not print
correctly, follow the steps in this section to try to fix the problem.

If this happens: Do this:

Report is too wide to Choose a smaller type size or a different font. On the Setup menu,
fit on the page choose Reports And Forms, select the form, then select another
font size or font.
Printing does not line Shift the paper left, right, up, or down. Refer to the printer’s
up properly manual.
(tractor-feed printer) Reset your margins. On the Setup menu, choose Reports And
Forms, select a form type, then change the margin settings. Also,
see the next section, “Setting Negative Margins.”
Last two lines of the Reduce the top margin. On the Setup menu, choose Reports And
page do not print Forms, select a form type, then enter a smaller top margin. Also,
see the next section, “Setting Negative Margins.”
If you are using an HP LaserJet printer, you may have selected a
PostScript printer driver. This causes the program to print too
many lines per page. Try selecting a non-PostScript printer driver.

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Part 1: Setting Up

If this happens: Do this:

Nothing prints Check that your printer is connected and switched on.
Try installing the latest version of the driver for your printer
(contact the printer manufacturer about these drivers).

Setting Negative Margins

If the printing does not line up properly on a form, you can reset
the margins. You can even set negative margins to shift the
printing slightly to the left, or up:

1. From the Setup menu, choose Reports And Forms. Select the
form you want to change.

2. Experiment with different margin settings until you get the

result you want.

Moves print down Moves print left

0.05 inch. 0.1 inch.

When you type a positive number in the margin field, the first
line of printing moves down or to the right. But if you type a
negative number in the margin field, the first line of printing will
move up or to the left. The maximum negative margin setting
depends on the printer and form, but you cannot exceed –1.00.

If the program displays a message telling you the printer offsets

(that is, the negative numbers) are too big when you attempt to
print, click No and adjust the margins in the Reports And Forms
window. Or, continue with the printing to see how well the form
is aligned, then adjust the margin.

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Chapter 9
Setting Up a List of Inventory and
Service Items

If you buy or sell goods or services, it’s a good idea to keep a list of them. It
makes invoice entry much faster, helps you to analyze your revenues and
expenses in more detail, and keeps track of things that may need your attention.

Why You Need a List of Inventory and Service Items ................................. 9–1
Select Inventory Options ........................................................... 9–2
Add Accounts to Keep Track of Inventory and Service Items........................... 9–3
Make a List of the Items and Services You Buy and Sell ............................... 9–4
Working with Different Units of Measure ........................................ 9–8
Create and Maintain Price Lists ..................................................... 9–9
Naming Price Lists ............................................................. 9–9
Adding or Changing Prices on Your Price Lists .................................. 9–10
Assemble Items from Components ................................................. 9–12
Recording the Assembly of Items ............................................... 9–13

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Chapter 9: Setting Up a List of Inventory and Service Items

What You Need to Do

‰ Select inventory options.

‰ Add accounts to keep track of inventory and service items.

‰ Make a list of the items and services you buy and sell.

‰ Organize your inventory and service item prices on Price

Lists.

‰ If you assemble items from components, enter item assembly

records.

‰ Identify items and services to sell online (optional)

Why You Need a List of Inventory and Service Items

Entering your inventory and service items into Simply
Accounting offers many advantages. Primarily, it saves time
when buying or selling. Instead of typing the details of each
item, you can select the item from a list so that Simply
Accounting enters the related information automatically.

A well-organized list of inventory and service items also makes

it easy to keep track of the things you’re buying and selling, and
to focus on areas that may need your attention. Although you
can manage without a list, you’ll find that you have more useful
information and better control if you let Simply Accounting keep
track of inventory for you.

Finally, keeping track of your inventory and service items allows

you maintain one or more price lists. Price lists are used to
control prices, by automatically suggesting the price of your
inventory or service items when you create invoices. This also
provides an easy and quick way of discounting your regular
prices for special customers.

If you would like to know more about the principles of

inventory accounting, read Chapter 19 in the Accounting Manual.

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Part 1: Setting Up

Select Inventory Options

You can evaluate profit (the difference between the average cost
and the selling price) on goods and services using either markup
or margin. If you’re not sure which to use, you can ask your
accountant which profit-evaluation method is most common in
your type of business.

Markup and margin are evaluated using the following formulas:

Selling price – cost

Markup = x 100
Cost

Selling price – cost

Margin = Selling price x 100

The program uses the weighted-moving-average method to

calculate the cost of the items you sell.

To select inventory options:

1. In the Home window on the Setup menu, choose System

Settings, then Settings.

2. Under Inventory and Services, choose Options, and fill in the

information.

Select one of the profit-

evaluation methods
described above.

Choose the order in which

items appear on your
inventory and services list.
These options appear if
you have set up a foreign
currency. See Chapter 10
for more information.
Check this box if you may
need to record a sale
before purchasing
sufficient inventory.

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Chapter 9: Setting Up a List of Inventory and Service Items

3. If you have Simply Accounting Premium or higher, and

want to track inventory in multiple locations, choose
Locations and select the Use Multiple Locations For
Inventory Items box. Fill in the information in the other
fields.

4. Click OK.

Add Accounts to Keep Track of Inventory and

Service Items
You must set up accounts to track the goods and services that
you buy and sell. Inventory items (physical goods) must be
associated with an asset, a revenue, and a cost of goods sold
account. Service items need a revenue and an expense account.
These accounts are described below.

You can use the same set of accounts for each item. However, we
recommend that you create a set of accounts for each category of
items. For example, if you own a grocery store, you might create
a set of accounts for fruits and another for bakery items.

Asset account (Inventory items only). This account records the

value of the items you have in inventory.

Revenue account. Simply Accounting updates this account

when you sell goods and services. For service items, this account
is optional.

Cost of Goods Sold (Expense) account. Simply Accounting

updates this account when you sell goods and services. For
service items, this account is optional.

Variance (Expense) account (Inventory items only). If you

allow inventory levels to go below zero, Simply Accounting uses
the variance account to record any differences in cost of goods
sold caused by negative inventory. If you do not want to keep
track of this variance, you can select the same account that you
used for Cost of Goods Sold.

For information on adding accounts, see “Adding Accounts” in

Chapter 2.

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Part 1: Setting Up

Simply Accounting If you use Simply Accounting Pro or higher, and have set up
Pro or higher departments, you can select a department for each of the four
accounts. However, do this only if you want transactions
involving inventory to use specific accounts and departments,
regardless of the vendor (or customer) department. For example,
if you choose 5040-0100 as your C.O.G.S. account for an item,
5040-0100 will always be used when you enter that item in the
Sales, Orders and Quotes window, even if the customer’s
department is 0200.

If you do not choose a department for the Revenue and C.O.G.S.

accounts, Simply Accounting automatically uses the vendor or
customer department for those accounts. However, for
Inventory Asset or Variance accounts, Simply Accounting does
not use the vendor or customer department.

For information about setting up departments, see “Accounting

by Departments” in Chapter 2.

Make a List of the Items and Services You Buy and

Sell
Once you decide how to organize your inventory list and have
added the accounts you require, you can add your items to
Simply Accounting. You can add the list all at once, or gradually,
during day-to-day buying and selling.

If you are using Simply Accounting Pro or higher, you can keep
track of service activities and bill customers for them. See
Chapter 18, “Keeping Track of Employee Time and Billing.”

To add inventory items and services all at once:

1. In the Home window, choose the Inventory and Services

icon.

2. On the File menu, choose Create. Then click the Units tab
and fill in the information.

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Chapter 9: Setting Up a List of Inventory and Service Items

Fill in the item number and

description.

Select the type of item.

These fields appear only for

inventory items. If you buy or
sell items in different units of
measure, fill in this part of the
tab. For more information, see
“Working with Different Units of
Measure,” later in this chapter.

3. Click the Pricing tab and fill in the information. You can also
add and edit prices using Update Price Lists. For more
information, see the next section “Create and Maintain Price
Lists.”

To set up separate prices for

each of the currencies you
use, see “Set Up Foreign
Currencies” in Chapter 10.
Enter the prices you
charge. You can leave
any of them blank.

Note: The Pricing Method column appears if you choose a

foreign currency. If you choose Exchange Rate, Simply
Accounting will use the current price from that price lists
and convert it using the most current exchange rate that you
have entered.

4. Click the Linked tab and select the accounts that you added
for this item (as described in the previous section).

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If you are adding a service

item, neither the Asset nor
the Variance fields appear,
and The Cost of Goods Sold
field is renamed Expense.

5. If you are using Simply Accounting Pro or higher and this is

an item that you assemble from components, add inventory
records for all of the components, then click the Build tab
and fill in the fields. Later, you can recall the information
without having to enter each component individually, and
record the assembly in the Bill of Materials and Item
Assembly window.

List the components that

are needed to build this
item.

Enter any additional costs,

such as labour and setup
costs.

6. For service items only, if the item is one for which you want
to keep track of employee time so you can bill your clients,
fill in the Time and Billing tab. If you need more details,
refer to Chapter 18, “Keeping Track of Employee Time and
Billing.”

7. On the Taxes tab, check that the tax information is correct. If

you have set up import duties, enter the rate for this item.

8. If you want to keep additional information about the item,

such as height or weight, fill in the fields on the Additional
Info tab. If you need to change the names of these fields,
choose Set Field Names on the File menu or toolbar.

9. If you want to add a longer description or a picture to the

item, click the Detailed Description tab and fill in the
information. This information appears on custom reports.

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Chapter 9: Setting Up a List of Inventory and Service Items

Note: You can associate pictures of inventory items with

their inventory records. Pictures can be bitmap (*.BMP),
JPEG (*.JPG, *.JPEG), or Graphics Interchange Format (*.GIF)
files and should measure 120x120.

The information on this tab appears in the Price List With

Pictures report, one of the custom reports supplied with
Simply Accounting. For more information on customizing
reports, see the Advanced Topics manual.

10. Fill in the information on the remaining tabs. The Statistics

and History tabs are described under “Adding Inventory
History” in Chapter 11.

11. Click the Create Another button.

12. Repeat steps 2 through 10 for each item you want to add.

13. Click the Save And Close button.

To add inventory items “on the fly,” one at a time:

1. When you enter a purchase or sale, click the List button in

the Item column.

If you want to search

through the list of records
manually, check the Bypass
Search Field box and scroll
through the list of records.

2. Click Add.

3. When you have entered all the information about the new
item, choose Save from the File menu, then continue filling
in the invoice. If you need help entering the item, refer to the

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Part 1: Setting Up

steps above under “To add inventory items and services all
at once.”

Working with Different Units of Measure

You may want to buy or sell items using a different unit of
measure than the one you use when stocking your items. For
example, you might buy and stock potatoes by the kilogram but
sell them in five-kilogram bags. You can set up this relationship
so that when you sell a bag of potatoes, Simply Accounting
knows that this represents five kilograms of your stock.

To set up different units of measure for inventory items:

1. In the Inventory and Services window, open the inventory

item and click the Units tab.

2. Type the unit of measure you use to stock the item.

3. Uncheck the Same As Stocking Unit box for selling or

buying units.

4. Type the unit of measure that you use when selling or

buying.

5. Type the number of stocking units that make up a buying or

selling unit, or vice versa. For example, if the stocking unit of
measure is kilograms and the selling unit is grams, you
would enter 1000 in the first box and select Grams per
Kilogram in the second box:

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Chapter 9: Setting Up a List of Inventory and Service Items

Create and Maintain Price Lists

Simply Accounting Price lists offer a convenient way of keeping track of your
Pro or higher inventory and service item prices. If your business has different
prices for different situations, you can create a price list for each
of those situations. For example, if you have a retail business and
you offer different prices to each of your best clients, you can set
up one price list for each customer. You could set up price lists
called Gold, Silver, Bronze, and Platinum, keeping all of the
regular prices, and changing only the prices for the items that
you discount for that specific customer. In the customer record,
you would use the appropriate price list with each customer.

Naming Price Lists

1. In the Home Window from the Setup menu, choose System
Settings, then Settings.

2. Under Inventory and Services, choose Price List, and add or

change the names of price lists.

Select a price list to rename

by clicking in the Description
column. You cannot change
the Regular, Preferred, or
Web price lists.

Change the status to Inactive

by clicking in the Status
column, next to the name of
the price list.

3. Click OK.

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Part 1: Setting Up

Adding or Changing Prices on Your Price Lists

Once you have set up the names of your price lists, you can add
prices to new price lists (or change prices on existing price lists)
in several ways:

■ Add or modify price list prices individually on each

inventory record (on an inventory or service item’s Pricing
tab, as described in the previous section).

■ Update prices for several items and price lists at one time by
importing price list information on spreadsheet from an
outside source (such as your company’s head office, or a
supplier), or exporting an existing price list and modifying it
on a spreadsheet.

■ Refer to Chapter 3, “Importing and Exporting Data,” in

Advanced Topics. (In the Home window on the Help menu,
choose Simply Accounting Manuals, then Advanced Topics.)

Simply Accounting If you use Simply Accounting Pro or higher, you can either add
Pro or higher price list prices individually, or you can have Simply Accounting
add prices by calculating new prices based on an existing price
list. You can also use a combination of these two methods to
change prices by calculating new prices and then fine-tuning by
hand.

To manually change prices on new or existing price lists:

1. In the Home Window on the Maintenance menu, choose

Update Price Lists.

2. Select the price list and the type of items you will be
changing prices for, and then make manual price changes.

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Chapter 9: Setting Up a List of Inventory and Service Items

Select a price list to

change.

Select the type of items to

show.
You can make changes
manually to item prices by
clicking in the New Price
column.

When you have finished

making manual changes,
click Save Prices.

3. After you have saved the new prices, click OK.

To calculate new prices based on an existing price list:

1. Select the price list and the type of items you will be
changing prices for (as illustrated above), then choose the
settings for the calculations.

1 3

2 1. Choose the price list on which

the new prices will be based.
2. Choose whether to increase or
decrease those prices.
3. Choose a fixed amount or a
percentage.

Tip: To copy prices from one price list to another, select the
new price list name, then choose the price list upon which to
base the prices as shown in 1) in the diagram above. Finally,
choose “percent” and zero as shown in 3) above. Then
follow the rest of the steps below. This will copy all the
prices from the original price list onto the new one. Don’t
forget to click the Save Prices button to save the new prices.

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Part 1: Setting Up

2. Choose the currency, then select the items to change by

placing a check mark next to them.

Choose the currency to

set the prices for. You
can also choose All
Currencies.
Select the items to which
you want to apply the
new price calculations.
You can select all of them
by clicking the icon at the
top of the column.

Click the Calculate

button to see the new
prices. You can also edit
them manually if they are
not correct.

3. Click Calculate. If you want to make any changes to the new

prices, click in the New Price Column.

4. When you have finished making changes to the price list,

click Save Prices.

5. Repeat steps 1 to 5 for as many price lists as you like. Click

OK when you have finished making your changes to price
lists.

Assemble Items from Components

If you assemble or build inventory items from components,
Simply Accounting can keep track of both the components and
the assembled items. For example, assume you keep a supply of
hinges, wood, and glue, which are used to build doors. Each
time you build a door, you can enter a transaction in the Item
Assembly window to:

■ Reduce your stock for the components used in

manufacturing.

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Chapter 9: Setting Up a List of Inventory and Service Items

■ Account for additional costs, such as labour.

■ Add the manufactured item to your stock.

Tip: If you are using Simply Accounting Pro or higher and plan
to manufacture or assemble this item often, you should consider
setting up a bill of materials. Both bill of materials and item
assembly help you to automate the process of building or
assembling items in Simply Accounting. Each feature is useful in
different situations. Item Assembly may be more useful for items
that you do not build on a regular basis, such as a special order.
You should use bills of materials for items that you regularly
build or assemble and then sell. By using a bill of materials, you
save time when you next manufacture an item by recalling its
entry with details already filled in. To set up a bill of materials,
fill in the Build tab in the inventory record, as described under
“Make a List of the Items and Services You Buy and Sell,” earlier
in this chapter.

Recording the Assembly of Items

1. In the Home window on the Inventory and Services tab,
choose Bill of Materials and Item Assembly. (If you are not
using Simply Accounting Pro or higher, the icon is called
Item Assembly.)

2. If you are using Simply Accounting Pro or higher and want

to use a list of components you have previously set up for an
inventory item, select Build From Bill Of Materials in the
first field.

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Part 1: Setting Up

If you are using Simply

Accounting Premium or
higher and multiple
locations, choose the
location at which the item
will be assembled.

Select Build from Bill of

Materials.

3. Or, to enter each component separately, select Build From

Item Assembly in the first field. (If you are not using Simply
Accounting Pro or higher, this field does not appear.)

Select the components

you use to assemble the
item.

Enter any additional costs,

such as labour and setup
costs.

These totals must be equal.

Select the items you have

assembled and are now
adding to your stock.

Note: The Additional Costs field is available only if you

have added an expense account for Transfer Costs, and set it
up as an Inventory linked account. For more information on
linked accounts, see “Set Up Linked Accounts” in Chapter 2.

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Chapter 9: Setting Up a List of Inventory and Service Items

4. Click Process.

Where To Now?
‰ To find out how to enter invoices and other transactions
related to the inventory items and services you buy and sell,
refer to Chapter 12, “Buying,” and Chapter 13, “Selling.”

‰ Refer to Chapter 26, “Tracking Your Inventory,” for more

information about inventory.

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Chapter 10
Doing Business outside the
Country

If you do business outside the country, you can set up Simply Accounting to
handle foreign-currency transactions. The program will keep track of
exchange rates and foreign selling prices for you.

Keeping Records in Other Currencies .............................................. 10–1

Keep Track of Exchange-Rate Differences and Rounding ............................. 10–2
Exchange-Rate Differences .................................................... 10–2
Differences Due to Rounding .................................................. 10–2
Set Up Foreign Currencies......................................................... 10–4
Adding or Changing an Exchange Rate ......................................... 10–5
Setting the Exchange Rate “on the Fly” ......................................... 10–6
Add Foreign-Currency Bank Accounts ............................................. 10–7
Decide Which Type of Foreign Pricing to Use for Sales ............................... 10–8
Add Foreign Prices for Inventory and Service Items ................................. 10–9
Set Up Vendors and Customers to Use Foreign Currency............................ 10–10

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Chapter 10: Doing Business outside the Country

What You Need to Do

‰ Add an account to keep track of exchange-rate differences
and rounding.

‰ Set up the foreign currencies you want to use.

‰ Add foreign-currency bank accounts.

‰ Decide which type of foreign price to use for sales.

‰ If necessary, add foreign prices for inventory and service

items.

‰ Set up the vendors and customers who will be using foreign

currency.

Keeping Records in Other Currencies

If you do business with vendors or customers in another
country, you can set up Simply Accounting to keep track of
transactions in a foreign currency, such as the British pound.

Simply Accounting If you are not using Simply Accounting Pro or higher, you can
Pro or higher use one foreign currency. Simply Accounting Pro and higher
versions allow you to use an unlimited number of currencies.

You can also set up bank and cash accounts that use the foreign
currency. This is useful if you have a bank account in the foreign
country or a foreign-currency account at a local bank.

You can set foreign prices for inventory and service items, or
enter prices in your home currency and let the program calculate
the foreign price based on the current exchange rate.

The currency used in the country in which your business is

located is called the home currency. On most reports, foreign
balances are converted into home currency or are shown in
addition to home-currency amounts.

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Part 1: Setting Up

Keep Track of Exchange-Rate Differences and

Rounding
Exchange-Rate Differences
† Add exchange acct. When you purchase or sell an item, payment is often made or
† Set up currencies received at some time in the future. If the item’s price is in a
† Add bank accounts foreign currency, the exchange rate may change before payment.
† Decide foreign pricing This means that the equivalent price in your home currency also
† Add foreign prices changes. Sometimes this works in your favour, sometimes not.
† Set vendors/customers
For example, you purchase an item from Britain for £100
(100 British pounds). On the day of the purchase, the exchange
rate is 1.45, so the price in dollars is $145. Some time later, when
you are ready to pay the vendor’s invoice, the exchange rate has
changed, and the pound is worth $1.40. You pay your vendor
£100 (worth $140). You have gained $5.

Simply Accounting keeps track of gains and losses caused by

exchange-rate changes in the Currency Exchange and Rounding
account. This is usually in the expense section of your chart of
accounts, but your accountant may suggest a different
classification. You can see these amounts on the Realized
Exchange Gain/Loss report (on the Reports menu, under
Financials).

Differences Due to Rounding

The final price of an item paid for in foreign currency may
change due to rounding that occurs when the exchange rate is
calculated.

For example, if you purchase two items and pay in a foreign

currency, the entries might appear as follows. The exchange rate
in this example is 1.5997033.

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Chapter 10: Doing Business outside the Country

Account Foreign Debits Credits

Currency
Amount
1540 Hardware 534.99 855.83

1560 Lumber 35.00 55.99

2220 Accounts
Payable 569.99 ______ 911.81

Total: 911.82 911.81

Simply Accounting converts and then rounds each line

individually. However, as shown in the example above, this can
result in small differences in the totals. Such differences are
recorded in the Currency Exchange and Rounding account, as
shown below.

Account Foreign Debits Credits

Currency
Amount
1540 Hardware 534.99 855.83

1560 Lumber 35.00 55.99

2220 Accounts
Payable 569.99 911.81

5770 Currency
Exchange and
Rounding ______ 0.01

Total: 911.82 911.82

To add an account to keep track of exchange-rate

changes and differences due to rounding:

1. In the Accounts window, create an expense account called

Currency Exchange and Rounding. Select Loss as the

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Part 1: Setting Up

Account Class. (Your accountant may suggest a different

classification.)

For more information on adding accounts, see “Adding

Accounts” in Chapter 2.

Set Up Foreign Currencies

5 Add exchange acct. You must add a Currency Exchange and Rounding account, as
† Set up currencies described in the previous section, before you set up a foreign
† Add bank accounts currency.
† Decide foreign pricing
† Add foreign prices If you are not using Simply Accounting Pro or higher, note that
† Set vendors/customers the screens you see may be different from the examples below,
because you can set up only one foreign currency. However, the
fields are the same.

1. In the Home window on the Setup menu, choose System

Settings, then Currencies.

2. Fill in the home-currency information:

Select the currency used in

the country in which your
business is located, and
define its format.

Select the account you

created to track differences
due to exchange-rate
changes over time.

3. Fill in the foreign-currency information:

Click the List button to

see a list of currencies, or
type a currency name.
The currency code is an
abbreviation of the
currency name, such as
EUR for the Euro. Enter the symbol, such as
£, that you want to use for
the foreign currency.

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Chapter 10: Doing Business outside the Country

Note: You cannot make changes to this currency (such as

changing the currency code or the number of decimal places)
after you have processed transactions in this currency. Be
sure to enter the correct information.

4. In the Exchange Rate table, enter a date and an exchange

rate.
You can enter up to two years of
dates and rates. If a transaction
falls between two dates, the
program uses the earlier rate.
If you use an average
exchange rate for a given
period, such as a week,
and want to be reminded
to bring the rate up to
date, check this box and
enter a frequency.

Fill in a Web site address so

you can quickly look up
exchange rates. Click the
button to open the site,
from this screen or from
any transaction window
(such as an invoice) that
uses foreign currency.

How does the Note: The program multiplies the foreign currency by the
exchange rate work? exchange rate to calculate its value in the home currency. For
example, if you sell an item for £100, the program multiplies
£100 by the current exchange rate, 1.807, to find a value of
180.709 in the home currency.

5. Click OK.

Adding or Changing an Exchange Rate

You should keep an eye on the exchange rate and enter any
significant rate changes in Simply Accounting. That way, the
program can make timely calculations and help you keep
accurate records of your foreign purchases and sales.

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Part 1: Setting Up

Note that changing a rate in the exchange-rate table does not

affect transactions that you have already entered. If you need to
correct the exchange rate on a transaction, make a correction to
the original transaction. To find original transactions, print
vendor purchases and customer sales reports for your foreign
vendors and customers for the range of dates that used the
wrong exchange rate, then drill down to open and adjust the
original invoices.

To add or change an exchange rate:

1. In the Home window on the Setup menu, choose System

Settings, then Currencies.

2. If you are using Simply Accounting Pro or higher, click the

Exchange Rate tab and select the currency.

3. In the Exchange Rate table, enter a date and exchange rate,

or change one of the rates listed. If you have entered a name
in the Currency Exchange Web Site field, click the button
next to the field to quickly look up the new rate.

4. Click OK.

Setting the Exchange Rate “on the Fly”

If you wish, you can enter a different exchange rate when you
enter a transaction, without having to open the Currencies
window.

If you have set up Simply Accounting to use foreign currencies,

an Exchange Rate field appears in transaction windows where
foreign currency can be used.

You can either enter a new rate in the field or click the button to
open the exchange-rate table, then add or change rates as
needed.

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Chapter 10: Doing Business outside the Country

Add Foreign-Currency Bank Accounts

5 Add exchange acct. We recommend that you set up at least one bank account to keep
5 Set up currencies track of foreign-currency amounts. Although Simply Accounting
† Add bank accounts lets you mix home-currency and foreign-currency amounts in the
† Decide foreign pricing same account, you will probably find it easier to keep them in
† Add foreign prices separate accounts. This could be an account at a bank in the
† Set vendors/customers foreign country you do business with or a foreign-currency
account at a local bank.

If you use Simply Accounting to reconcile your bank statements,

note that foreign-currency bank accounts are reconciled in the
foreign currency. This means that you are matching foreign
amounts to foreign amounts and do not need to worry about
exchange-rate differences.

If you wish, you can set up a primary foreign bank account for
Purchases or Sales. Simply Accounting then displays this
account automatically when you enter a payment or receipt for a
foreign vendor or customer, so you do not have to select the
bank from a list every time. You can set up one account for
purchases and one for sales for each currency you use.

To add a foreign-currency bank account:

1. In the Home window on the General tab, choose the

Accounts icon.

2. On the File menu, choose Create.

3. Enter the information on the Account tab as you would for

any other account. For more information on adding
accounts, see “Adding Accounts” in Chapter 2.

4. Click the Class Options tab, and enter the information:

Change the account class

to Bank, then fill in
information about the
bank.

Be sure to change the

currency of the account to
the foreign currency.

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Part 1: Setting Up

Save 5. On the File menu, choose Save.

To set up an account as your primary foreign bank

account:

1. In the Home window, on the Setup menu, choose System

Settings, then Linked Accounts.

2. Choose either Vendors And Purchases or Customers And

Sales.

3. Select a primary foreign bank account for the foreign

currency. If you are using Simply Accounting Pro or higher,
you can select an account for every foreign currency you are
using.

Click the List button to

display a list of
accounts, then select an
account to link.

4. Click OK.

Decide Which Type of Foreign Pricing to Use for

Sales
5 Add exchange acct. When you enter a sales invoice, Simply Accounting can either
5 Set up currencies use a fixed foreign price or calculate the foreign price based on
5 Add bank accounts the home-currency price and the exchange rate. Be sure you have
† Decide foreign pricing chosen the method you want to use before you enter an invoice:
† Add foreign prices
† Set vendors/customers 1. In the Home window, on the Setup menu, choose System
Settings, then Settings.

2. Select Inventory and Services and click Options. Under

Foreign Prices On Sales Invoices, select one of the following
options:

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Chapter 10: Doing Business outside the Country

Calculated Using The Exchange Rate. The program will

calculate the price on each invoice by dividing the price in
the home currency by the current exchange rate. Choosing
this option will disable the foreign price table in inventory
records.

Taken From The Foreign Price Listed In The Inventory

And Services Record. Select this if you want to enter a
specific foreign price in the item’s inventory or service
record.

Note: You can also choose to use the current exchange rate
for a price from an inventory or service item's record.
Choosing the second option, then, will allow you to decide
on a per-item basis whether you want to use the exchange
rate or a specific price.

3. Click OK.

4. If necessary, enter foreign prices for your inventory items

and services, as described in the next section.

Note: You can change the price when you enter a

transaction.

Add Foreign Prices for Inventory and Service Items

5 Add exchange acct. You can enter a foreign price for any inventory item or service
5 Set up currencies (as opposed to calculating a foreign price based on the exchange
5 Add bank accounts rate) if you have set the pricing option as described in the
5 Decide foreign pricing previous section.
† Add foreign prices
† Set vendors/customers 1. In the Home window on the Inventory and Services tab,
choose the Inventory and Services icon.

2. For each inventory item or service, click the Pricing tab and
enter the foreign prices. If you are using Simply Accounting
Basic, the Pricing Method column doesn’t appear.

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Part 1: Setting Up

Choose the foreign

currency.
To calculate the price based
on the exchange rate, click in
the Pricing Method column
and choose Exchange Rate.
Or choose Fixed Price and
type one in the Price per
Selling Unit column.

Save 3. On the File menu, choose Save.

Set Up Vendors and Customers to Use Foreign

Currency
5 Add exchange acct. To enter foreign prices on purchase or sales invoices, you must
5 Set up currencies first set up a vendor or customer as foreign. Simply Accounting
5 Add bank accounts uses the currency associated with the vendor or customer when
5 Decide foreign pricing you enter a transaction, such as a purchase or sale. You cannot
5 Add foreign prices enter transactions in different currencies for the same vendor or
† Set vendors/customers customer.

Note that you cannot change the currency of an existing vendor

or customer if they have transactions on file. However, you can
clear the outstanding transactions, delete the vendor or
customer, then add the same vendor or customer and select a
foreign currency on the Options tab.

For information on adding vendors and customers, see “Adding

Vendors” in Chapter 12 and “Adding Customers” in Chapter 13.

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Chapter 11
Adding Historical Information

If your business is already running but you’re just starting out with Simply
Accounting, it’s a good idea to record historical information about outstanding
invoices, year-to-date sales, purchases, payments, payroll totals, and so on. This
will help you avoid time-consuming manual calculations later and give you a
more accurate picture of your business.

What Is Historical Information? .................................................... 11–1

Decide When You Want to Add Historical Information............................... 11–2
Add History ..................................................................... 11–2
Adding Account History ...................................................... 11–2
Adding Vendors and Purchases History ........................................ 11–3
Adding Customers and Sales History ........................................... 11–5
Adding Payroll History ....................................................... 11–6
Adding Inventory History ..................................................... 11–8
Adding Project History ........................................................ 11–9
Finish Entering History .......................................................... 11–10

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Chapter 11: Adding Historical Information

What You Need to Do

‰ Decide whether to add historical records all at once, or over
a period of time.

‰ Add accounts, vendors, customers, employees, inventory,

and projects, and their historical records.

‰ Finish entering history.

What Is Historical Information?

Historical information consists of all the transactions that you
completed before you started to use Simply Accounting. These
include account balances, vendor and customer invoice and
payment information, employee year-to-date earnings,
deductions, and expenses, and the quantity and value of
inventory on hand.

You should add this information so that your records provide an

accurate picture of your business dealings and so that Simply
Accounting can correctly calculate taxes, payroll, inventory
value, and so on.

A History symbol beside an icon indicates that a window is able

to accept historical transactions.

Simply Accounting Note that historical information is not the same as financial
Pro or higher history, the financial data that Simply Accounting Pro and higher
accumulate over several years as your business operates. For
more information on financial history, refer to “Keeping and
Comparing Additional Years of Financial Information” in
Chapter 2.

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Part 1: Setting Up

Decide When You Want to Add Historical

Information
† Decide when to add Simply Accounting is set up to accept historical transactions and
† Add history current day-to-day transactions concurrently; you do not have to
† Finish entering history enter all the historical information before entering new
transactions.

You can add all or most of your historical information before

you start using Simply Accounting for normal business, or you
can add it as time allows. You can add entire lists of vendors,
customers, or employees, or add each of them “on the fly” as
you happen to be entering a purchase, sale, or paycheque.

After you finish entering historical information, you set up

Simply Accounting to accept only new transactions, using the
Finish Entering History command described at the end of this
chapter.

Add History
5 Decide when to add Follow the steps in this section to add information about your
† Add history accounts, vendors, customers, employees, inventory and service
† Finish entering history items, and projects, and any related transactions and balances.

Remember to back up your data frequently! (Choose Backup on

the File menu or toolbar.) In case of damage to your data, you
can restore a backup. Refer to “Backing Up Your Company’s
Information” in Chapter 19 for more about backing up and
restoring data.

Adding Account History

Follow the steps below to add the opening balance for each
account.

1. Add account records, as described under “Add or Change

Accounts” in Chapter 2.

2. Open the account record, click the Account tab, and fill in
the opening balance.

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Chapter 11: Adding Historical Information

Fill in the opening balance.

3. When you have finished, close the Accounts window. If the

accounts are out of balance, Simply Accounting warns you,
and asks you to select an account to record the difference.

4. In the Home window, on the Reports menu, choose

Financials, then Trial Balance. Print the report and check that
you entered the balances correctly and that the accounts are
in logical order and in balance.

Adding Vendors and Purchases History

You can enter information about the amounts you owe to each
vendor, and any payments you have made against each invoice
as of the earliest transaction date. If you do not enter this
information, the program assumes that there are no unpaid
purchase invoices.

We recommend that you enter this information, to have a more

accurate picture of your purchases. Follow the steps below for
each vendor.

1. Add vendor records, as described under “Adding Vendors”

in Chapter 12.

2. On the Statistics tab, add the purchases and payments totals

for the current year and last year.

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Part 1: Setting Up

Fill in the totals for last year

and the year to date.

3. On the Historical Transactions tab, click the Invoices button

to add outstanding (unpaid) invoices.

Fill in the invoice number

and date.

Enter the full amount of the

invoice, including tax and
freight, even if you have
already paid part of it.
You’ll record any
payments in the next step.

4. In the Home window on the Reports menu, choose Vendors

and Purchases, then Vendor Aged. Select Detail and print a
report for all vendors. Check that you entered everything
correctly. If you find any errors, correct them by entering a
historical payment for the invoice (follow step 5), and then
enter the invoice correctly

5. On the Historical Transactions tab, click Payments to add

information about paid invoices.

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Chapter 11: Adding Historical Information

Enter a cheque number or

credit-card name.

Simply Accounting
automatically displays the
invoices you entered in
step 3.

Enter the amount paid,

and the discount, if any.

6. Print the Vendor Aged Detail report and keep a copy for
your records.

Adding Customers and Sales History

You can enter information about the amounts each customer
owes you, and any payments they make against each invoice as
of the earliest transaction date. If you do not enter this
information, the program assumes that there are no unpaid sales
invoices.

We recommend that you enter this information, to have a more

accurate picture of your sales. Follow the steps below for each
customer.

1. Add customer records, as described under “Adding

Customers” in Chapter 13.

2. On the Statistics tab, add the sales totals for the current year
and last year.

Fill in the sales totals for last

year and the year to date.

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Part 1: Setting Up

3. On the Historical Transactions tab, click the Invoices button

to add outstanding (unpaid) invoices.

Fill in the invoice number

and date.

Enter the full amount of the

invoice, including tax and
freight, even if the
customer has already paid
part of it. You’ll record any
payments in the next step.

4. In the Home window on the Reports menu, choose

Customers and Sales, then Customer Aged. Select Detail and
print a report for all customers. Check that you entered
everything correctly. If you find any errors, correct them by
entering a historical payment for the invoice (follow step 5),
and then enter the invoice correctly.

5. On the Historical Transactions tab, click Payments to add

information about paid invoices.

Enter a cheque number or

credit-card name.

Simply Accounting
automatically displays the
invoices you entered in step 3.

Enter the amount paid,

and the discount, if any.

6. Print the Customer Aged Detail report and keep a copy for
your records.

Adding Payroll History

If you issued any paycheques for the current calendar year
before you started using Simply Accounting, you should record

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Chapter 11: Adding Historical Information

the year-to-date earnings and deductions for each employee. If

you do not, your year-end totals may be incorrect, and you or
your employees might end up paying too much tax. Also, your
Canadian T4 and Relevé 1 slips or U.S. W-2 forms will probably
be wrong.

Follow the steps below for each employee.

1. Add employee records, as described under “Adding

Employees” in Chapter 15.

2. Record the employee’s historical information:

On this tab: If you are using the If you are using the U.S.
Canadian version of Simply version of Simply Accounting:
Accounting:
Income Fill in the regular income, Fill in the regular income,
benefits, vacation owed and paid, benefits, vacation paid, and
and advances for the historical advances for each quarter in the
and current calendar year. current calendar year.

Taxes Enter the employee’s year-to-date For historical amounts, use the
tax deductions. Historical Tax Amount tab.

Deductions Enter the employee’s historical Enter the employee’s year-to-date

and year-to-date deductions. deductions for each quarter.

Historical Tax – Enter the employee’s tax

Amount deductions for each quarter.

Historical – Enter the Medicare, Social

Expense Security, and other expenses for
Amount each quarter.

3. In the Home window on the Reports menu, choose Payroll,

then Employee. Select Summary, then Select All, then OK, to
display a list of employees and their year-to-date earnings
and deductions. Check that you entered everything
correctly.

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Part 1: Setting Up

4. If you find any errors, correct them in the employee record,

then print the Employee Summary report and keep a copy
for your records.

Adding Inventory History

You can record the opening quantity and value of your
inventory, and the quantity and amount sold in the year to date
and last year for inventory and service items. If you do not enter
this information, the program assumes that the quantities are
zero. We recommend that you enter this information, to have a
more accurate picture of your inventory history. Follow the steps
below for each item.

1. Add inventory records, as described under “Make a List of

the Items and Services You Buy and Sell” in Chapter 9.

2. For inventory items, click the History tab and fill in the
information.

Enter the quantity and

value of the item, as of the
day you began using
Simply Accounting.

3. For all items, click the Statistics tab and fill in the
information.

Fill in the information for the

year to date and last year.
(The Cost of Goods Sold
fields do not appear for
service items.)

4. In the Home window on the Reports menu, choose

Inventory and Services, then Quantity.

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Chapter 11: Adding Historical Information

a) Under Select From, select Inventory By Item.

b) Under Report Quantities In, select Stocking Units, and

then click the Select All button.

c) Click OK. Check that you entered the quantities and

minimum levels correctly.

5. In the Home window on the Reports menu, choose

Inventory and Services, then Statistics.

a) Under Select From, select All Items, then click the Select
All button.

b) Under Select Details to Report, check the boxes for the

details you want to include.

c) Click OK, then check that you entered the number of

transactions, units sold, amount sold, cost of goods sold,
and last sale date correctly.

6. In the Home window on the Reports menu, choose

Inventory and Services, then Synopsis.

a) Under Select From, Select Inventory By Item.

b) Under Report On, choose Item Synopsis, then click the

Select All button.

c) Click OK, then check that you have entered the units,
price, cost, and total value correctly.

7. If you find any errors, correct them in the inventory record.

8. Print the inventory reports and keep a copy for your records.

Adding Project History

You use the Project window to list the projects you are working
on and their start dates.

Since the Project module does not have its own transaction
window, it is not affected by the Finish Entering History
command. However, it’s a good idea to enter the start dates and
opening balances for any projects currently under way.

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Part 1: Setting Up

1. Add project records, as described under “Add a List of

Projects” in Chapter 5.

2. In the Project record, click the Project tab and fill in the
information.

Fill in the start date and the

opening balances for
revenue and expense.

3. In the Home window on the Reports menu, choose Project,

then Income.

a) Under Select Projects, choose Select All.

b) Under Select Accounts, choose Select All.

c) Check the Balance Forward box.

4. Click OK, then check that you entered the balances correctly.

Finish Entering History

5 Decide when to add Once you have added your records and historical information,
5 Add history and have set up the linked accounts for the modules you plan to
† Finish entering history use, you must tell Simply Accounting that you have finished
entering history.

All history should be entered by the end of the first fiscal year,
before completing year-end procedures. (See ”End of a Fiscal
Year” in Chapter 21 for more information about year-end.).

After you select the Finish Entering History command, you cannot
enter additional historical information. The program will record
invoice and payment information only when you make an entry
in a transaction window. However, you can still see the
historical totals in the records windows. For example, you can no

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Chapter 11: Adding Historical Information

longer change the year-to-date or last-year sales totals, but you

can see the amounts on the Statistics tab in the customer record.

Note that, if you have hidden some modules (using View, User
Preferences, Modules in the Home window) before you follow
these steps, the hidden modules will still be set to allow
historical transactions if you display them later.

Simply Accounting If you are using Simply Accounting Pro or higher, you must be
Pro or higher logged in as the system administrator in single-user mode before
you can follow these steps.

1. Back up your data. (In the Home window on the File menu,
choose Backup.)

2. In the Home window on the History menu, choose Finish

Entering History.

3. If your data contains errors, Simply Accounting displays a

detailed list telling you where the errors are. Print the list,
correct the errors, then choose the Finish Entering History
command again.

Where To Now?
‰ Refer to Parts 2 through 6 of this manual for more
information about using Simply Accounting for day-to-day
business.

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Day-To-Day Business
Part 2

Once you have finished setting up Simply Accounting to suit your

company, you are ready to start using it for day-to-day transactions.

Chapter 12 — Buying

Chapter 13 — Selling

Chapter 14 — Paying Bills

Chapter 15 — Paying Employees

Chapter 16 — Entering Other Types of Transactions

Chapter 17 — Allocating Revenues and Expenses to Projects

Chapter 18 — Keeping Track of Employee Time and Billing

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Chapter 12
Buying

Use Simply Accounting to record remittance payments, purchases, orders, and

quotes. All of your accounts are automatically updated, allowing you to track
the amount of inventory you have on hand and the amount that you owe to
vendors.

Setting Up Options for Vendors and Purchases ...................................... 12–1

Adding Vendors .................................................................. 12–1
Map Payroll Authorities to Payroll Liability Accounts ............................ 12–4
Entering a Purchase ............................................................... 12–5
Editing Taxes ................................................................. 12–7
Ordering Goods and Services ...................................................... 12–8
Getting a Quote from a Vendor ..................................................... 12–9
Ordering Goods and Services Based on a Quote .................................. 12–9
Receiving Goods and Services ................................................. 12–10
Paying for Goods and Services .................................................... 12–11
Prepaying Goods and Services................................................. 12–12
Applying a General Prepayment to a Payment .................................. 12–12
Remitting a Payment to a Payroll Authority ........................................ 12–13
Correcting or Cancelling Purchases, Orders, and Quotes ............................. 12–15
Changing or Cancelling a Purchase Invoice ..................................... 12–16
Changing or Cancelling a Purchase Order or Quote ............................. 12–17
Manually Correcting a Purchase Invoice ........................................ 12–18
Correcting or Cancelling Payments to Vendors ..................................... 12–18
Automatically Correcting or Cancelling Payments to Vendors .................... 12–19
Manually Correcting or Cancelling Payments to Vendors ........................ 12–20
Manually Correcting Payments to Payroll Authorities ........................... 12–20
Correcting or Cancelling Prepayments ......................................... 12–22

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Chapter 12: Buying

What You Need to Do

‰ Set up options for your vendors and purchases.

‰ Add vendors.

‰ Enter quotes, orders, or purchases.

‰ Pay for the purchase.

Setting Up Options for Vendors and Purchases

† Set up options Make sure that you have set up your vendor and purchasing
† Add vendors options properly before using Simply Accounting to record
† Enter purchases purchases. See “Enter Payment Options for Vendors and
† Pay for purchases Customers,” in Chapter 3, for more information.

Adding Vendors

5 Set up options You can purchase goods and services without adding vendors to
† Add vendors Simply Accounting; however, we highly recommend that you
† Enter purchases add them. If you wish to purchase something and pay for it later
† Pay for purchases or enter a purchase order or quote, you must have a vendor on
file first.

Simply Accounting uses the term “payroll authority” to identify

vendors to whom you remit payments for tax and other payroll
liabilities. When you match one or more payroll liability
accounts to a payroll authority, Simply Accounting
automatically keeps track of the total amount owed to the
payroll authority.

Adding vendors to Simply Accounting allows you to track

purchases and debts to vendors easily. For example, Simply
Accounting can remind you to pay bills and payroll remittances
on time. You can also print reports that help you to analyze your
purchases or to determine the amount to remit to a payroll
authority.

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You can add vendors using the Vendors window or you can add
a vendor as you make the purchase.

1. In the Home window on the Vendors and Purchases tab,

choose the Vendors icon.

Create 2. On the File menu, choose Create and enter the Vendor’s
name.

3. Fill in the information on the Address tab.

Note: The Canada Revenue Agency requires you to report a

company’s business number or an individual’s Social
Insurance Number for certain services. You can place this
number in the Tax ID field.

Simply Accounting Department field. If you use Simply Accounting Pro or

Pro or higher higher, and have set up departments, this field appears on
the Address tab. The department entered in this field will be
used automatically when you enter purchases or payments
for this vendor. For example, if you set up account 2200 as
your linked Accounts Payable account, and you assign 0100
as the vendor’s department, then a purchase transaction for
that vendor would update the account 2200-0100 Accounts
Payable.

For information about setting up departments, see

“Accounting by Departments” in Chapter 2 of this guide.

4. Click the Options tab and fill in the information:

This box appears if you have

set up a second currency.

If this vendor is a
subcontractor who provides
construction services, check
this box. For more information
about T5018 slips, see “End of
a Contract Payment
Reporting Period” in
Chapter 21.
Expense Account. The account you select in this field will
appear automatically in the Account field when you select

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Chapter 12: Buying

the vendor in the Purchases, Orders, and Quotes window, so

you don’t have to select it every time.

Charge Duty on Items Purchased. This option appears

only if you chose to track duty on imported items in the
System Settings window. If you select this option, then the
Duty % and Duty (Amount) fields will appear when you
select the vendor in the Purchases, Orders, and Quotes
window.

Synchronize with Microsoft® Outlook®. If you are using

Simply Accounting Pro or higher, you can automatically
update your vendor or customer contact information in
Microsoft Outlook, so you don’t have to re-enter the
information (See “Synchronizing Your Vendor and
Customer Records with Microsoft Outlook” in Chapter 22.)

Note: If you are creating a vendor record for a payroll

authority, you probably will not be purchasing goods or
services from this vendor. If this is the case, the only fields
that you need to complete on the Options tab are Conduct
Business In and Currency (if you have set up another
currency). Other fields on the Options tab, such as discount
for early payment, do not apply to payments remitted to
payroll authorities.

5. On the Statistics tab, enter information about the purchases

you made last year and this year.

6. Fill in the information on the remaining tabs.

Note: For a payroll authority, be sure to set the Tax Exempt

fields on the Taxes tab to Yes. Do not enter information in
any of the other fields on the Taxes tab or on the
Import/Export tab. These fields apply only to vendors from
whom you purchase goods or services.

If you will be remitting taxes on other payments to this

vendor, be sure to check the Payroll Authority box.

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For more See:

information on:
Taxes “Enter Tax Codes for Vendors and
Customers” in Chapter 3.
Statistics Chapter 11, “Adding Historical
Information.”
Memos “Adding Memos to the To-Do List” in
Chapter 22.
Importing and The Advanced Topics file. (In the Home
Exporting window, from the Help menu, choose
Simply Accounting Manuals, and then
Advanced Topics.)
Additional “Set Up Fields to Store Additional
Information Information” in Chapter 3.
Historical Chapter 11, “Adding Historical
Transactions Information.”
This tab appears only if you have not
finished entering history.

Save 7. Choose Save from the File menu.

8. If you entered a vendor record for a payroll authority, map
the payroll authority to the payroll liability accounts for
which you will remit payments. See the next section for
more information.

Map Payroll Authorities to Payroll Liability Accounts

After you have set up your payroll authorities, map each payroll
liability account to its respective payroll authority so that Simply
Accounting can track the amounts you owe the authority.

To map liability accounts:

1. In the Home window on the Setup menu, choose System

Settings, then Settings, or select the Settings icon on the
Payroll tab.

2. Click Remittance.

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Chapter 12: Buying

Click to select a payroll

authority to whom you
will remit a payment for
the payroll liability.

3. Click OK.

Entering a Purchase
5 Set up options Use the Purchases, Orders, and Quotes window to purchase
5 Add vendors goods and services.
† Enter purchases
† Pay for purchases Entering purchases into Simply Accounting allows you to track
not only your purchases, but also information on your inventory.
You can analyze your costs and profits easily. Simply
Accounting can also remind you to re-order items when stocks
are getting low.

1. In the Home window on the Vendors and Purchases tab,

choose the Purchases, Orders, and Quotes icon or the
Invoices icon.

2. In the Transaction field, select Invoice, and then select the

method of payment. If the vendor will bill you later for this
invoice, select Pay Later.

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Part 2: Day-To-Day Business

If you pay by cash or

cheque, select the bank from
which the funds will be
withdrawn.

The payment method

determines which fields
appear on the screen.
You can enter a new
vendor, account, inventory
item, or service “on the fly”
by typing a new name.
If you buy from a foreign
vendor, you can change
the exchange rate.

3. Select or enter the vendor. If you plan to do business with

this vendor only once and do not want to add the name to
Simply Accounting, type the name of the vendor, press the
Tab key, and then click Continue.

Note: If the vendor is not listed in your Simply Accounting

vendor records, you must pay the invoice immediately.
Choose Cash, Cheque, or Credit Card in the Paid By field.

4. After you have entered the date and other background

information, fill in the goods and services that you are
purchasing.

If you select an item that is listed in your inventory records,

the Account field is filled in automatically. If not, you must
select an account in which you can record the value of the
item. Usually, you select an asset account, in the 1000 range,
for an inventory item, and an expense account, in the
5000 range, for a service.

5. Fill in the freight information, if necessary.

Note: If you are buying from a foreign vendor, you must

enter the freight amount in the foreign currency.

6. If you need to edit tax amounts, see the next section,

“Editing Taxes.”

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Chapter 12: Buying

Track 7. If you want to track the shipment of purchased goods, you

Shipments can choose Track Shipments from the toolbar or Purchase
menu and enter the shipper’s name and tracking number.
You must set up shippers in Simply Accounting before you
can track shipments. For more information, see “Set Up
Shippers” in Chapter 3.

Print 8. If you are paying for this purchase by cheque, you can
choose Print from the File menu or toolbar to print a cheque.

9. Click Process.

Editing Taxes
You can change the tax amount of an individual item, of a
freight charge, or of the entire purchase transaction.

To edit the tax amount of an item line or freight charge:

1. Choose the item or freight charge.

2. Choose Tax Summary for Line from the Purchase menu, or

press Ctrl+Y.

3. In the Line or Freight Tax Summary window, change the tax

amounts as required.

4. Click OK.

To edit the total tax amounts of the purchase transaction:

1. From the Purchase menu, choose Tax Summary. Or, click the
List Button next to the Tax field.

Note: If two tax fields appear, click the List button beside
the second tax field to edit both taxes.

2. In the Total Tax Summary window, change the tax amounts

as required.

3. Click OK.

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Part 2: Day-To-Day Business

Ordering Goods and Services

Enter a purchase order in Simply Accounting when you
purchase goods or services that you have not yet received.

If you receive only part of a shipment, you must enter the

transaction as an order first. Then, you can record part of the
order as received, and have a record of the items that you expect
to receive later. For more information on receiving goods, see
“Receiving Goods and Services” later in this chapter.

If you have already entered a quote for the order, follow the
instructions in “Ordering Goods and Services Based on a
Quote,” later in this chapter.

1. In the Home window on the Vendors and Purchases tab,

choose the Purchases icon or the Purchases, Orders, and
Quotes icon.

2. In the Transaction field, select Purchase Order.

3. Fill out the order just as you would for a purchase. (For
more information on purchases, see “Entering a Purchase,”
earlier in this chapter.)

You can e-mail the

order to the vendor.

Enter the date that the

vendor has told you
they will ship goods or
provide services.

You should allow Simply

Accounting to
automatically calculate
the number of back-
ordered items.

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Chapter 12: Buying

4. Click Record.

Note: Simply Accounting updates your inventory records to

record the pending order. No money has changed hands, so
the account balances are not affected.

Getting a Quote from a Vendor

If your staff requires approval before entering orders or if you
are getting several estimates for an item, you can use Simply
Accounting to record a quote. You can then easily create an
order or purchase based on that quote.

1. In the Home window on the Vendors and Purchases tab,

choose the Quotes icon or the Purchases, Orders, and Quotes
icon.

2. In the Transaction field, select Quote.

3. Fill out the quote just as you would for a purchase. (For
more information on purchases, see “Entering Purchases,”
earlier in this chapter.)

You may want to type a ship date now, so that when you
order this item, you can quickly change the quote to a
purchase order or invoice.

4. Click Record.

Note: Simply Accounting stores the quote until you remove

it or you order or purchase the items. If you need to remove
a quote, see “Changing or Cancelling a Purchase Order or
Quote,” later in this chapter.

Ordering Goods and Services Based on a Quote

When you decide to order an item based on a quote, you can
retrieve the quote and change it to an order. This allows you to
send the order to the vendor, and updates the Pending Orders
report. The report tracks all unfilled purchase orders.

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1. In the Home window on the Vendors and Purchases tab,

choose the Purchase Orders icon or the Purchases, Orders,
and Quotes icon.

2. In the Transaction field, select Purchase Order, and then

select the vendor.

3. In the Order Number field, select the quote number, and

press the Tab key.

4. If you want to print a copy of the purchase order, choose

Print from the File menu or toolbar.

5. Click Record.

Receiving Goods and Services

Once you receive goods or services based on a quote or an order,
you must change the transaction to an invoice. When you
process the transaction, Simply Accounting adjusts your
accounts and inventory levels.

1. In the Home window on the Vendors and Purchases tab,

choose the Purchases, Orders, and Quotes icon or the
Invoices icon.

2. In the Paid By field, select the method of payment.

3. In the Transaction field, select Invoice, and then select the

vendor.

4. In the Order/Quote Number field, select the order or quote

number, and press the Tab key.

5. Enter an invoice number.

Fill 6. In the Quantity field for each item, enter the number of items
Backordered that you have received. If you are working with an order
Quantities (not a quote), you can click the Fill Backordered Quantities
toolbar button to automatically fill the entire order.

Note: If you do not receive all items, Simply Accounting

continues to store the quote or order.

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Chapter 12: Buying

Print 7. If you are paying for this purchase by cheque, you can
choose Print from the File menu to print a cheque.

8. Click Process.

Paying for Goods and Services

5 Set up options If your vendors bill you for purchases, you have probably
5 Add vendors recorded the invoice in Simply Accounting, but have not yet
5 Enter purchases recorded payment. You can pay for all or part of any invoice.
† Pay for purchases
1. In the Home window on the Vendors and Purchases tab,
choose Pay Vendor Invoices or the Payments icon.

2. Select Pay Purchase Invoices in the first field, and select the
way you want to pay the invoices. Then, select the vendor
that you are paying.

3. In the list of unpaid invoices, fill in the payment information:

If you receive a discount, fill

in this field first.

If you are paying a foreign vendor, enter the exchange rate

on the day of payment.

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Part 2: Day-To-Day Business

Print 4. If you are paying by cheque, you can print a cheque by

choosing Print from the File menu.

5. Click Process.

Prepaying Goods and Services

If a vendor requests that you prepay items on order or that you
give them a deposit for a large purchase, you can enter the
payment into Simply Accounting.

1. In the Home window on the Vendors and Purchases tab,

choose the Pay Vendor Invoices or the Payments icon.

Enter Vendor 2. Make sure that Pay Purchase Invoices is selected in the first
Prepayments field and that the Enter Vendor Prepayments button is
selected.

3. Select a vendor, and fill in the rest of the prepayment.

■ Make payments or prepayments on specific invoices in

the Payment Amount column.

■ Enter general prepayments in the Prepayment Amount

field.

4. Click Process.

Applying a General Prepayment to a Payment

Simply Accounting displays any prepayment that has not been
applied to a specific invoice in the Payments window in red:

You can apply a general prepayment to a single invoice or a

series of invoices:

1. In the Home window on the Vendors and Purchases tab,

choose Payments or the Pay Vendors Invoices icon.

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Chapter 12: Buying

2. Pay the invoices as you normally would (as described in the

previous section, “Paying For Goods and Services”).

3. To apply the prepayment to these invoices, click in the

Payment Amount field beside the prepayment. Type the
amount that you want to apply to the payment. You must
type a positive number.

Print 4. If you are paying for the remaining amount of the purchase
by cheque, you can choose Print from the File menu to print
a cheque.

5. Click Process.

Remitting a Payment to a Payroll Authority

5 Set up options When you process payroll, tax and other deductions are
5 Add vendors withheld from employee paycheques. These payroll deductions,
5 Enter purchases along with any employer contributions and expenses become
† Pay for purchases payables – amounts that you owe to payroll authorities.

Each payroll authority will advise you of the reporting period

for which amounts must be paid, and will advise you of the date
and frequency of remittance payments. For example, a tax
authority may require that you remit a payment on the 15th day
of every month for payroll tax deductions accrued in the prior
month. If you've mapped the payroll authority to the
appropriate payroll payable account, then Simply Accounting
keeps track of the amount owing so that you can remit a
payment.

1. In the Home window on the Vendors and Purchases tab,

choose the Pay Remittance or Payments icon.

2. Enter payment information:

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Select the date to print on Enter a cheque number.

the cheque. This is also the
transaction date.

Select the bank account

from which the payment
will be made.

Select the payroll authority.

Select the remittance

period end date. The
amount owing will be
reported as of this date.

Simply Accounting shows the

payroll account balances as
of the period ending date.
Enter your business number,
or an account number that
identifies your company.

3. In the End of Remitting Period field, change the date to the

end date for the remittance reporting period. The payroll
amounts you owe the payroll authority will be calculated
and displayed as of this date.

4. In the Payments window, choose Display Remittance Report

from the Report menu to see a detailed listing of transactions
for the remittance reporting period.

5. Enter an adjustment if:

■ You need to record a penalty or interest charge (for

example, a penalty charged for late payment) that you
will remit with the current payment

■ You are correcting a previous remittance payment

cheque.

Simply Accounting will automatically increase or decrease

the payment amount by the adjustment amount.

6. If the payment amount for a payroll liability is not correct,

enter the amount you wish to remit in the Payment Amount
field. Simply Accounting automatically recalculates the

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Chapter 12: Buying

amount of the cheque and displays the total in the Total

field.

7. In the Reference No. field, enter your company’s business

number for tax remittances, or an account number that
identifies your company.

8. If you want to, enter a comment in the Comment field.

9. To preview the transaction, choose Display Payment

Transaction Detail from the Report menu.

Print 10. If you are paying by cheque, you can print a cheque by
choosing Print from the File menu or toolbar.

11. Click Process.

Correcting or Cancelling Purchases, Orders, and

Quotes
You can cancel purchase invoices or correct any errors. Simply
Accounting automatically adjusts all necessary accounts,
including inventory levels or payments.

You cannot correct invoices automatically if you have turned off

the Store Invoice Lookup Details option, if you have cleared the
invoice, or if it was processed in a previous fiscal year. In this
case, you need to manually correct the transaction, as described
in “Manually Correcting a Purchase Invoice” later in this
chapter. You can always automatically correct quotes and orders.

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Simply Accounting creates two transactions when you make a

correction. First, it reverses the original transaction. Second, it
adds the new transaction. Both appear in transaction reports.

Changing or Cancelling a Purchase Invoice

When you change a paid invoice, Simply Accounting
automatically tracks payment details. Do not manually change
the payment for the invoice you are correcting.

1. In the Home window on the Vendors and Purchases tab,

choose Purchases, Orders, and Quotes or the Invoices icon.

2. In the Transaction field, select Invoice.

Adjust Invoice 3. On the toolbar, click the Adjust Invoice button, or from the
Purchase menu, choose Adjust Invoice.

If you are unsure of the

invoice number that
you want to change,
select a vendor, and
click Browse.

4. Once you have selected the invoice, click OK.

5. If you want to cancel the invoice, remove all the items from
the invoice. To remove a line, click the item, and then choose
Remove Line from the Edit menu. Otherwise, make the
necessary changes.

Note: When you change a quantity or amount, type the

new amount, not the difference between the original and the

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Chapter 12: Buying

new amount. For example, to change 100 to 80, type 80,

not -20.

Print 6. If you need to print a new cheque, you can choose Print from
the File menu.

7. Click Process.

If the amount you owe increases after the correction, you will
find the invoice in the Payments window, and you can pay that
extra amount as described in “Paying for Goods and Services”
earlier in this chapter.

If the amount you owe decreases, Simply Accounting does one

of two things. If you did not select Pay Later when entering the
original invoice, Simply Accounting assumes that you received
the necessary refund and increases your cash. If, on the other
hand, you selected Pay Later when entering the original invoice,
Simply Accounting issues a credit note, which can be found in
the Payments window.

Changing or Cancelling a Purchase Order or Quote

1. In the Home window on the Vendors and Purchases tab,
choose the Purchases, Orders, and Quotes or the Purchase
Orders icon.

2. In the Transaction field, select Purchase Order or Quote.

3. Select the vendor, and then in the Order/Quote Number

field, choose the order or quote number from the list and
press the Tab key.

4. If you want to cancel the order or quote, choose Remove

Purchase Order or Remove Quote from the Purchase menu.
If you want to change the order or quote, choose Adjust
Purchase Order or Adjust Quote, and make the necessary
changes.

5. If you are changing the purchase order or quote, click

Record.

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Manually Correcting a Purchase Invoice

You must manually correct a purchase invoice if you have
turned off the Store Invoice Lookup Details option. You also
need to do this if the transaction occurred in a previous fiscal
year or if you cleared a transaction and can no longer look it up.

1. In the Home window on the Vendors and Purchases tab,

choose Purchases, Orders, and Quotes or the Invoices icon.

2. In the Transaction field, select Invoice. Then, select the

vendor.

3. In the Paid By field, select the original method of payment. If

you are correcting an unpaid invoice, select Pay Later.

4. Enter an invoice number, followed by the letters COR or

ADJ.

5. Fill in the invoice as on the original, but precede all amounts

with minus signs.

6. Click Process.

7. If you are cancelling or correcting an unpaid invoice, open

the Payments window and pay this negative invoice and the
original invoice.

For more information on paying invoices, see “Paying for

Goods and Services” earlier in this chapter.

8. Re-enter the correct invoice, if necessary.

Correcting or Cancelling Payments to Vendors

The way you correct or cancel a payment to a vendor depends
on whether you have cleared the details for the original invoice.
As long as you have not cleared the details, you can correct or
cancel the payment automatically. Otherwise, you must make
the correction manually.

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Chapter 12: Buying

To correct a payment remitted to a payroll authority “vendor,”

follow the instructions in “Manually Correcting Payments to
Payroll Authorities” later in this chapter.

If you are cancelling a purchase along with the payment, follow

the instructions in “Correcting or Cancelling Purchases, Orders,
and Quotes” earlier in this chapter.

Automatically Correcting or Cancelling Payments to Vendors

1. In the Home window on the Vendors and Purchases tab,
choose the Payments or the Pay Vendor Invoices icon.

Include Fully 2. Make sure that the Include Fully Paid Invoices/Prepayments
Paid Invoices/ toolbar button is selected.
Prepayments

Adjust 3. Choose Adjust Payment from the toolbar or Payment menu.

Payment

If you are unsure of the

transaction that you
want to change,
select a customer, and
click Browse.

4. Once you have selected the payment, click OK.

5. If you want to cancel the payment, remove any amounts in

the Payment Amount column. To correct a payment amount,
click in the Payment Amount column and change it.

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Note: When you change an amount, type the new amount,

not the difference between the original and the new amount.
For example, to change $100 to $80, type 80, not -20.

6. Click Process.

Manually Correcting or Cancelling Payments to Vendors

You must manually correct a payment if you have turned off the
Store Invoice Lookup Details option. You also need to do this if
the payment occurred in a previous fiscal year or if you cleared a
transaction and can no longer look it up.

1. In the Home window on the Vendors and Purchases tab,

choose Purchases, Orders, and Quotes or the Invoices icon.

2. In the Transaction field, select Invoice. In the Paid By field,

select Pay Later.

3. Select the vendor, and then enter the original invoice

number followed by the letters REV (for payment reversal)
in the Invoice field.

4. In the Amount field, enter the incorrect payment amount (as

a positive number).

5. In the Account field, enter the account from which the

payment was made, most likely an asset account.

6. Clear the payment terms for the invoice. The invoice total
should equal the total of the original payment you are
correcting or cancelling.

7. Click Process.

8. If this is a correction, enter the correct payment in the

Payments window.

Manually Correcting Payments to Payroll Authorities

If you make an error and processed a payment for an incorrect
amount, and you want to correct the error before the next

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Chapter 12: Buying

remittance due date, then reverse and void the original cheque
and then issue a new cheque.

To adjust a payment:

1. In the Home window on the Vendors and Purchases tab,

choose the Payments or Pay Remittances icon.

2. Select Pay Remittance in the first field.

Determine the original 3. From the Payment menu, choose Look up Payment.
payment amount
4. In the Vendor Name field, select the payroll authority, then
click the Browse button to select the payment in question.
Take note of the payment amounts allocated to each payroll
liability account.

5. Choose Create New Payment from the Edit menu.

Enter a new payment 6. Select the payroll authority to whom the original cheque was
made.

7. Select the bank account on which the new cheque will be

drawn.

8. If you have not set the starting cheque number for the
selected bank, then enter the number of the new cheque.

9. Change the cheque date, if required.

10. Select the remittance period end date. The payroll account
balances (Amount Owing) are reported as of this date.

11. For each payroll liability account that needs to be adjusted:

a) In the Adjustment column for each payroll liability

account, enter the amount of the original payment.

b) In the Payment Amount field, enter the amount of the

new payment plus the adjustment amount.

12. Enter a payment reference number (your business number

for tax payments, or an account number that identifies you
to the payroll authority), and an optional comment.

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13. Preview the transaction by selecting Display Payment

Transaction Details from the Report menu.

Print 14. Click the print icon from the toolbar, or choose Print from
the File menu to print a new cheque.

15. Click Process.

Correcting or Cancelling Prepayments

1. In the Home window on the Vendors and Purchases tab,
choose the Payments or Pay Vendor Invoices icon.

Enter Vendor 2. Make sure the Enter Vendor Prepayments button is selected,
Prepayments and that you have selected Pay Purchase Invoices.

Adjust 3. Click the Adjust Payment button on the toolbar, or from the
Payment Payments menu, choose Adjust Payment.

If you are unsure of the

payment number that
you want to change,
select a vendor, and
click Browse.

4. In the Prepayment Amount field, change or clear the

amount.

5. Click Process.

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Chapter 13
Selling

Use Simply Accounting to record sales, orders, and quotes. All of your accounts
are automatically updated, allowing you to track the amount of inventory you
have on hand and the amount that your customers owe you.

Setting Up Options for Customers and Sales ........................................ 13–1

Adding Customers ............................................................... 13–1
Adding Basic Customer Information ............................................ 13–2
Entering a Sale ................................................................... 13–4
Editing Taxes ................................................................. 13–6
Entering an Order from a Customer ................................................ 13–7
Giving a Quote to a Customer ..................................................... 13–8
Entering an Order for Goods and Services Based on a Quote ...................... 13–9
Filling an Order or Quote ..................................................... 13–10
Receiving Payment for Goods and Services ........................................ 13–10
Receiving a Payment on Unpaid Invoices ...................................... 13–11
Receiving Deposits from Customers ........................................... 13–11
Applying a General Deposit to a Customer Payment ............................ 13–12
Correcting or Cancelling Sales, Orders, and Quotes ................................. 13–12
Changing or Cancelling a Sales Invoice ........................................ 13–13
Changing or Cancelling a Sales Order or a Quote ............................... 13–15
Manually Correcting a Sales Invoice ........................................... 13–15
Correcting or Cancelling Payments From Customers ................................ 13–16
Automatically Correcting or Cancelling Payments from Customers ............... 13–16
Manually Correcting or Cancelling Payments from Customers ................... 13–17
Correcting or Cancelling Deposits ............................................. 13–18
Accepting a Customer Return..................................................... 13–19
Offering a Customer a Refund ................................................ 13–19
Issuing a Credit Note......................................................... 13–20
Customers Who Don’t Pay ....................................................... 13–21
Charging Interest on Overdue Invoices ........................................ 13–21
Writing Off Bad Debts........................................................ 13–22

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Chapter 13: Selling

What You Need to Do

‰ Set up your sales options.

‰ Add customers.

‰ Enter sales.

‰ If you bill your customers, receive payment for the items

you sold.

Setting Up Options for Customers and Sales

† Set up options Make sure that you have set up your customer and sales options
† Add customers properly before adding sales to Simply Accounting. See “Enter
† Enter sales Payment Options for Vendors and Customers” in Chapter 3 for
† Receive payment more information.

Adding Customers
5 Set up options You can sell goods and services without adding customers to
† Add customers Simply Accounting; however, we highly recommend that you
† Enter sales add them. If you wish to sell something and receive payment for
† Receive payment it later or enter a sales order or quote, you must add a customer
first.

Adding customers to Simply Accounting allows you to track

sales and customer orders easily. For example, Simply
Accounting can remind you when customer payments are
overdue. You can also print reports on your sales to help analyze
them.

You can add customers using the Customers window or you can
add a customer as you make a sale.

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Adding Basic Customer Information

1. In the Home window on the Customers and Sales tab,
choose the Customers or Add Customer icon.

Create 2. On the File menu, choose Create and enter the customer
name.

3. Fill in the details on the Address tab.

Simply Accounting Department. If you use Simply Accounting Pro or higher,

Pro or higher and have set up departments, this field appears on the
Address tab. The department entered in this field will be
used automatically when you enter sales or receipts for this
customer. For example, if you set up account 1200 as your
linked Accounts Receivable account, and you assign 0100 as
the customer’s department, then a sales transaction for that
customer will update the 1200-0100 Accounts Receivable
account.

For information about setting up departments, see

“Accounting by Departments” in Chapter 2 of this guide.

Internal Customer. If this “customer” is a department in

your company (such as admin or professional development),
check the Internal Customer box to be able to include it on
Time and Billing reports (Pro and higher versions). You
cannot select them when filling out sales invoices.

4. Fill in the details on the Ship-to Address tab. If you ship

items to the company’s main address, you can select Same
As Mailing Address on the Ship-to Address tab.

5. Click the Options tab and fill in the information:

Choose a revenue account

and price list for this customer.
The customer’s terms
override the discount terms
you entered in the system
settings.

You can print or e-mail

invoices, statements, and
other forms to your customers.

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Chapter 13: Selling

Revenue Account. The account entered in this field will

appear automatically in the Account field when you select
the customer in the Sales, Orders, and Quotes window, so
you don’t have to select it every time.

Price List. Choose a price list to use for this customer. This
will determine which prices appear in the Price field when
you create invoices for this customer. For more information
on creating and maintaining price lists, see Chapter 9,
“Setting Up a List of Inventory and Service Items.”

Synchronize with Microsoft® Outlook®. If you are using

Simply Accounting Pro or higher, you can automatically
update your vendor or customer contact information in
Microsoft Outlook, so you don’t have to re-enter the
information (See “Synchronizing Your Vendor and
Customer Records with Microsoft Outlook” in Chapter 22.)

6. Fill in the information on the remaining tabs.

For more See

information on
Taxes “Enter Tax Codes for Vendors and
Customers” in Chapter 3.
Statistics (to set Chapter 11, “Adding Historical
credit limit) Information.”
Memo “Adding Memos to the To-Do List” in
Chapter 22.
Importing and The Advanced Topics file. (In the Home
Exporting window, on the Help menu, choose
Simply Accounting Manuals, and then
Advanced Topics.)
Additional “Set Up Fields to Store Additional
Information Information” in Chapter 3.

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For more See

information on
Historical Invoices Chapter 11, “Adding Historical
Information.”
This tab appears only if you have not
finished entering history, as described in
Chapter 11.

Save 7. Choose Save from the File menu.

Entering a Sale
5 Set up options Use the Sales, Orders, and Quotes window to sell goods and
5 Add customers services.
† Enter sales
† Receive payment Entering sales into Simply Accounting allows you to track not
only your sales, but also information on your inventory. You can
analyze your costs and margins easily. Simply Accounting can
also remind you to re-order items when stocks are getting low.

1. In the Home window on the Customers and Sales tab,

choose the Sales, Orders, and Quotes or the Invoices icon.

2. In the Transaction field, select Invoice, and then select the

method of payment. If you will bill the customer later for
this invoice, select Pay Later.

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Chapter 13: Selling

The payment method

determines which fields
appear on the screen.
If you receive cash or a
cheque, select the bank
where the funds will be
deposited.

You can enter a new

customer, account,
inventory item, or service
“on the fly” by typing a
new name.

Simply Accounting
automatically displays the
prices from the price list you
chose for this customer. You
can change prices by
clicking the List button or by
typing a new price.

3. Select or enter the customer name. If you plan to do business

with this customer only once and don’t want to add the
name to Simply Accounting, type the name of the customer,
press the Enter key, and then click Continue.

Note: If you use a customer who is not listed in your

Simply Accounting records, you must receive payment for
the invoice immediately.

4. Once you have entered the date and other background

information, fill in the goods and services that you are
selling.

If you select an inventory item or service that is already

listed in Simply Accounting, the Account field is filled
automatically. Otherwise, you must select the account that
will record the item’s value. Usually, you select a revenue
account in the 4000 range.

5. Fill in the freight information, if necessary.

Note: If you are selling to a foreign customer, you must

enter the freight amount in the foreign currency.

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6. If you want to track orders according to salesperson, specify

the salesperson for the order. If you click the Pushpin button
beside this field, the next sales order you enter will be
assigned to the same salesperson.

7. If you need to edit tax amounts, see the next section,

“Editing Taxes.”

Track 8. To track the shipment of goods click Track Shipments on the

Shipments toolbar or Sales menu. Enter the shipper’s name and tracking
number. You must set up shippers in Simply Accounting
before you can track shipments. For more information, see
“Set Up Shippers” in Chapter 3.

Print 9. To print an invoice for your customer, choose Print from the
File menu.

10. Click Process.

Editing Taxes
You can edit the tax amount of an individual item, of a freight
charge, or of the entire sales transaction.

To edit the tax amounts of an item line or freight charge:

1. Choose the item or freight charge.

2. Choose Tax Summary for Line from the Sales menu, or press
Ctrl+Y.

3. In the Line or Freight Tax Summary window, change the tax

amounts as required.

4. Click OK.

To edit the total tax amounts of the sales transaction:

1. From the Sales menu, choose Tax Summary. Or, click the
List button next to the Tax field:

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Chapter 13: Selling

Note: If two tax fields appear, click the List button beside
the second tax field to edit both taxes.

2. In the Total Tax Summary window, change the tax amounts

as required.

3. Click OK.

Entering an Order from a Customer

Enter an order in Simply Accounting when you sell goods or
services that you have not yet shipped.

If you ship only part of an order, you must enter the transaction
as an order first. Then, you can fill part of the order. For more
information on filling orders, see “Filling an Order or Quote”
later in this chapter.

If you have already entered a quote for the order, follow the
instructions in “Entering an Order for Goods and Services Based
on a Quote” later in this chapter.

1. In the Home window on the Customers and Sales tab,

choose the Sales, Orders, and Quotes or Sales Orders icon.

2. In the Transaction field, select Sales Order.

3. Fill out the order just as you would for a sale. (For more
information on sales, see “Entering a Sale,” earlier in this
chapter.)

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You can confirm the

order via e-mail.

Enter the date that you

expect to ship goods or
provide services.

You should allow Simply

Accounting to
automatically calculate
the backordered items.

4. Click Record.

Note: Simply Accounting updates your inventory to record

the pending order. No money has changed hands, so the
account balances are not affected.

Giving a Quote to a Customer

If a customer requests a price quote, you can use Simply
Accounting to quickly put one together and print or e-mail it.
You can easily change that quote to an order or a sale if the
customer decides to purchase the items.

Simply Accounting Sometimes giving a quote is a way of attracting new clients, in

Pro or higher which case you must be aware of your pricing. Consider which
item prices are important in securing this client’s order. If you
are using Simply Accounting Pro or higher, you might even
consider setting up a separate price list for this client, to make it
easy to view and change item prices before presenting the quote
to the customer.

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Quotes do not affect your inventory reports. Only orders and

invoices update your inventory.

1. In the Home window on the Customers and Sales tab, choose

Sales, Orders, and Quotes or the Quotes icon.

2. In the Transaction field, select Quote.

3. Fill out the quote just as you would for a sale. (For more
information on sales, see “Entering a Sale,” earlier in this
chapter.)

Tip: You may wish to type a ship date now, so that when the
customer orders this item, you can quickly change the quote
to a sales order or invoice.

4. If you would like to give the customer special pricing, you

can override the prices that display in the Price column.

5. Click Record.

Note: Simply Accounting stores the quote until you remove

it or the customer orders or purchases the items. For more
information on removing quotes, see “Changing or
Cancelling a Sales Order or a Quote,” later in this chapter.

Entering an Order for Goods and Services Based on a Quote

When you fill an order based on a quote that you entered into
Simply Accounting, you can retrieve the quote and change it to
an order.

1. In the Home window on the Customers and Sales tab,

choose Sales, Orders, and Quotes or the Sales Orders icon.

2. In the Transaction field, select Sales Order, and then select

the customer.

3. In the Order Number field, select the quote, and press the
Tab key.

4. If you want to print a copy of the sales order, choose Print

from the File menu.

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5. Click Record.

Filling an Order or Quote

Once you ship the goods or provide the services based on an
order or quote that you entered, you must change the
transaction to an invoice. When you process the transaction,
Simply Accounting adjusts your accounts and inventory levels.

1. In the Home window on the Customers and Sales tab,

choose Sales, Orders, and Quotes or the Invoices icon.

2. In the Transaction field, select Invoice, and then select the

customer.

3. In the Order/Quote Number field, select the sales order or

quote you wish to fill, and press the Tab key.

4. In the Paid by field, select the method of payment.

Fill 5. In the Quantity field for each item, enter the number of items
Backordered that you have shipped. If you are working with an order (not
Quantities a quote), you can click the Fill Backordered Quantities
toolbar button to automatically fill the entire order.

Note: If you do not ship all items, Simply Accounting

continues to store the quote or order.

6. Click Process.

Receiving Payment for Goods and Services

5 Set up options If you bill your customers as opposed to receiving payment

5 Add customers immediately when filling in an invoice, you can use the Receipts
5 Enter sales window to enter customer payments.
† Receive payment
Note: If you receive an overpayment from a customer, you can
either apply it to another unpaid invoice or record it as a deposit
and refund the excess amount.

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Chapter 13: Selling

Receiving a Payment on Unpaid Invoices

1. In the Home window on the Customers and Sales tab,
choose Receipts.

2. Select the customer and other details, then enter the

payment in the Payment Amount field.

You can receive

payments by cash,
cheque, or credit card.

The discount is calculated

based on the customer’s
payment terms.

Click here to enter the full

payment or discount. You
can type over the amount
for partial payments or
discounts.

3. Click Process.

Receiving Deposits from Customers

1. In the Home window on the Customers and Sales tab,
choose the Receipts icon.

Enter Customer 2. Ensure that the Enter Customer Deposits toolbar button is
Deposits on, and then select a customer.

3. Fill in the remaining parts of the receipt:

■ Enter deposits or prepayments on specific invoices in the

Payment Amount column.

■ Enter general deposits in the Deposit Amount field.

4. If you want to print or e-mail a receipt for the customer,

choose Print or E-mail from the File menu.

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5. Click Process.

Applying a General Deposit to a Customer Payment

Simply Accounting displays any deposit that has not been
applied to a specific invoice in the Receipts window in red:

You can apply a general deposit to a single invoice or a

series of invoices:

1. In the Home window on the Customers and Sales tab,

choose Receipts.

2. Receive payment for the invoices as you normally would (as

described under “Receiving a Payment on Unpaid Invoices,”
earlier in this chapter).

3. To subtract all or part of a deposit from the payment

amount, click in the Payment Amount field beside the
deposit. Type the amount that you want to apply to the
payment. You must type a positive number.

4. If you want to print or e-mail a receipt for the customer,

choose Print or E-mail from the File menu.

5. Click Process.

Correcting or Cancelling Sales, Orders, and Quotes

You can cancel or fix errors on a sale automatically. Simply
Accounting adjusts all necessary accounts, including inventory
levels or receipts.

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You cannot correct invoices automatically if you have turned off

the Store Invoice Lookup Details option, if you have cleared the
invoice, or if it was processed in a previous fiscal year. In this
case, you need to manually correct the transaction, as described
in “Manually Correcting a Sales Invoice” later in this chapter.
You can always automatically correct quotes and orders.

Simply Accounting creates two transactions when you make a

correction. First, it reverses the original transaction. Second, it
adds the new transaction. Both appear in transaction reports.

Changing or Cancelling a Sales Invoice

When you change a paid invoice, Simply Accounting
automatically prompts you to issue a credit note for overpaid
amounts or adds unpaid amounts to the customer record. Do not
manually change a related receipt.

1. In the Home window on the Customers and Sales tab,

choose Sales, Orders, and Quotes, or the Invoices icon.

2. In the Transaction field, select Invoice.

Adjust Invoice 3. Click the Adjust button on the toolbar:

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If you are unsure of the

invoice number that you want
to change, select a customer
and click Browse.

4. Once you have entered the invoice, click OK.

5. If you want to cancel the invoice, remove all the items from
the invoice. To remove a line, click the item, and then choose
Remove Line from the Edit menu. Otherwise, make the
necessary changes.

Note: When you change a quantity or amount, type the

new amount, not the difference between the original and the
new amount. For example, to change 100 to 80, type 80, not
-20.

6. If you need to print or e-mail a new invoice, you can choose

Print or E-mail from the File menu.

7. Click Process.

If the amount the customer owes you increases after the

correction, you will find the invoice in the Receipts window, and
you can receive that extra amount as described in “Receiving a
Payment on Unpaid Invoices” earlier in this chapter.

If the amount the customer owes you decreases, Simply

Accounting does one of two things. If you did not select Pay
Later when entering the original invoice, Simply Accounting
assumes that you gave the customer a refund. If, on the other
hand, you selected Pay Later when entering the original invoice,

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Chapter 13: Selling

Simply Accounting issues a credit note, which can be found in

the Receipts window.

Changing or Cancelling a Sales Order or a Quote

1. In the Home window on the Customers and Sales tab,
choose the Sales, Orders, and Quotes icon or the Invoices
icon.

2. In the Transaction field, select sales order or quote, and then

select the customer.

Search 3. In the Quote/Order No. field, enter an order or quote

number and press the Tab key. Or, click the Search button to
view a list of orders and quotes, then select one.

Adjust Sales 4. If you want to change the order or quote, click the Adjust
Order or Quote button on the toolbar, or from the Sales menu, choose Adjust
Sales Order or Adjust Quote, and make the necessary
changes. If you want to cancel the order or quote, choose
Remove Quote or Remove Sales Order from the Sales menu.

5. If you are changing the sales order or quote, click Record.

Manually Correcting a Sales Invoice

You must manually correct a sales invoice if you have turned off
the Store Invoice Lookup Details option. You also need to do this
if the transaction occurred in a previous fiscal year or if you
cleared a transaction and can no longer look it up.

1. In the Home window on the Customers and Sales tab,

choose the Sales, Orders, and Quotes or the Invoices icon.

2. In the Transaction field, select Invoice. Then, select the

customer.

3. In the Paid By field, select the original method of payment. If

you are correcting an unpaid invoice, select Pay Later.

4. Enter an invoice number, followed by the letters COR or

ADJ.

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5. Fill in the invoice as on the original, but precede all amounts

with minus signs.

6. Click Process.

7. If you are correcting or cancelling an unpaid invoice, open

the Receipts window and receive payment for this negative
invoice and the original invoice.

For more information on receiving payments, see “Receiving

a Payment on Unpaid Invoices,” earlier in this chapter.

8. Re-enter the correct invoice, if necessary.

Correcting or Cancelling Payments From

Customers
The way you correct or cancel a payment from a customer
depends on whether you have cleared the details for the original
invoice. If you have not cleared details and you have turned on
the Store Invoice Lookup Details option, you can correct or
cancel the payment automatically. Otherwise, you must make
the correction manually.

If you are cancelling a purchase along with the payment, follow

the instructions in “Correcting or Cancelling Sales, Orders, and
Quotes” earlier in this chapter.

Automatically Correcting or Cancelling Payments from Customers

1. In the Home window on the Customers and Sales tab,
choose the Receipts icon.

Include Fully 2. Make sure that the Include Fully Paid Invoices/Deposits
Paid Invoices/ toolbar button is selected.
Deposits

Adjust Receipt 3. Choose Adjust Receipt from the toolbar or Receipts menu.

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Chapter 13: Selling

If you are unsure of the

receipt number that
you want to change,
select a customer, and
click Browse.

4. Once you have selected the receipt, click OK.

5. If you want to cancel the receipt, remove any amounts in the

Payment Amount column. To correct a payment amount,
click in the Payment Amount column and change it.

Note: When you change an amount, type the new amount,

not the difference between the original and the new amount.
For example, to change $100 to $80, type 80, not -20.

6. Click Process.

Manually Correcting or Cancelling Payments from Customers

You must manually correct a payment if the transaction
occurred in a previous fiscal year or if you cleared a transaction
and can no longer look it up.

1. In the Home window on the Customers and Sales tab,

choose the Sales, Orders, and Quotes icon, or the Invoices
icon.

2. Select the customer, and then enter the original invoice

number followed by the letters REV (for payment reversal)
in the Invoice field.

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3. In the Amount field, enter the incorrect payment amount, as

a positive number.

4. In the Account field, enter the account into which the

payment was deposited.

The invoice total should equal the total amount of the

original payment you are correcting or cancelling.

5. Click Process.

If this is a correction, enter the correct payment in the

Receipts window.

Correcting or Cancelling Deposits

1. In the Home window on the Customers and Sales tab,
choose the Receipts icon.

Enter Customer 2. Make sure the Enter Customer Deposits button is selected.
Deposits

Adjust 3. Click the Adjust button on the toolbar, or from the Receipts
Payment menu, choose Adjust Receipts.

If you are unsure of the

receipt number that
you want to change,
select a customer, and
click Browse.

4. In the Deposit Amount field, change or clear the amount.

5. Click Process.

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Chapter 13: Selling

Accepting a Customer Return

When customers return goods that they have not paid for, you
can cancel the sale as discussed in “Changing or Cancelling a
Sales Invoice” earlier in this chapter. Make sure to indicate that
the invoice represents a return: in the Invoice field, add the word
Return to the number.

When a customer returns an item that they have already paid

for, you can either return their money or offer them a credit on
future purchases.

Offering a Customer a Refund

Part 1: Cancel the original invoice and return goods to
inventory

1. In the Home window on the Customers and Sales tab,

choose the Sales, Orders, and Quotes or the Invoices icon.

2. Choose Invoice, and then select the customer’s original

method of payment. Then, select the customer.

3. In the Invoice field, enter the original invoice number,

followed by the letters RET (for return).

4. If you are returning goods into stock or offering a refund for

services rendered, fill in the invoice exactly as you did for
the original, but use negative values for the quantities and
amounts.

If you are offering a refund for goods that cannot be sold

again, enter a quantity preceded by a minus sign, enter a
description for the item, and then add the taxes. Also,
change the Account (Acct) to the expense account you use
for write-offs.

5. If the customer receives early-payment discounts, but did

not receive a discount for this invoice, clear the Discount
field.

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6. Once you have filled in the remaining parts of the form, click
Process.

Note: If you are offering a cash refund, you may wish to

print the invoice. The customer can then sign the refund slip,
and you can keep it for your records.

Part 2: If necessary, issue a cheque

If you want to print a cheque for the customer, follow these

steps.

Note: If you want to write out the cheque manually, you do not
need to follow these steps.

1. In the Home window on the Vendors and Purchases tab,

choose the Payments or Make Other Payment icon. In the
first field, select Make Other Payment.

2. In the By field, select Cheque, then the bank account from

which funds are withdrawn.

3. In the To The Order Of field, type the name of the customer

and press the Tab key.

4. In the Account field, enter the bank account from which you
are withdrawing the funds. Then fill in a description and the
amount of the cheque.

5. Fill in the remaining parts of the screen.

Print 6. Choose Print from the File menu.

7. Once you have filled in the remaining parts of the form, click
Process.

When you complete this transaction, no accounts have been

changed. The proper accounts were reversed when you cancelled
the original invoice in the first part of these instructions.

Issuing a Credit Note

If you want to issue a credit for future purchases as opposed to
refunding the customer’s money, you can follow the steps above

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Chapter 13: Selling

for cancelling the original invoice and returning goods to

inventory. Then you can enter a deposit for the customer for the
amount of the original invoice. For information on entering
deposits, see “Receiving Deposits from Customers” earlier in
this chapter.

Customers Who Don’t Pay

When customers pay late, you may want to charge them a
penalty. If a customer refuses to pay and you are unable to
collect, you may need to write off an invoice as a bad debt.

Charging Interest on Overdue Invoices

If you have customers who don’t pay their bills on time, you can
charge interest on overdue invoices. For information on setting
up interest charges, see “Enter Payment Options for Vendors
and Customers” in Chapter 3. Sometimes, you will encounter
customers who pay their overdue invoices, but refuse to pay the
interest charge. For this reason, Simply Accounting does not
automatically add interest payments to invoices when they
become overdue. You must enter the interest payment as a
separate transaction.

Note: Overdue interest charges appear only on customer

statements. To print a customer statement, in the Home window,
from the Reports menu, choose Customers and Sales, and then
Customer Statements.

To accept an interest payment for a paid overdue invoice:

1. In the Home window on the Customers and Sales tab,

choose the Sales, Orders, and Quotes or the Invoices icon.

2. In the Transaction field, select Invoice, and in the Paid By

field, select Pay Later.

3. Select the customer to whom you are charging interest.

4. In the Invoice field, type Int and then the original invoice
number.

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5. Fill in the details of the invoice:

a) In the Description field, type Interest on overdue

invoice.

b) For the amount, type the amount of interest collected.

c) In the Account field, select the revenue account in which

you record interest revenues.

6. Clear the payment terms for the invoice.

7. Click Process.

8. Receive the payment as you would for any other invoice. For
more information on receiving payments, see “Receiving a
Payment on Unpaid Invoices” earlier in this chapter.

Writing Off Bad Debts

Once you have decided that a customer is not going to pay an
invoice, you must write it off.

You must ensure that you have set up an expense account

(5000-5999) for Bad Debts.

In Canada, you must also have the following accounts:

Account Type
ITC (Input Tax Credit) Liability (2000-2999); subgroup with
Adjustments other GST accounts
ITR (Input Tax Liability (2000-2999); subgroup with
Refund) Adjustments other QST accounts

1. In the Home window on the Customers and Sales tab,

choose the Sales, Orders, and Quotes or the Invoices icon.

2. In the Transaction field, select Invoice. In the Paid By field,

select Pay Later.

3. Select the customer, and then enter the original invoice

number followed by the letters BD (for bad debt) in the
Invoice field.

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Chapter 13: Selling

4. In the Amount field, enter the amount of the debt with the
taxes subtracted, preceded by a minus sign.

5. Double-click the Account field, and select the Bad Debts

account.

6. On the next line, in the Amount field, enter the amount of

sales tax, preceded by a minus sign.

7. Double-click the Account field. If you are in Canada, select

the ITC Adjustments account. If you are in the United States,
select the SST Payable account.

8. If you charged PST or QST, enter the amount preceded by a

minus sign on the next line. For PST, select the PST Payables
account. For QST, select the ITR Adjustments account.

9. Click Process.

10. In the Home window, open the Receipts window, and enter
a cash receipt for this negative invoice and the original
invoice. The receipt total should be zero.

For more information on receipts, see “Receiving a Payment

on Unpaid Invoices” earlier in this chapter.

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Chapter 14
Paying Bills

Your vendors are not your only creditors. You need to pay credit-card bills, rent,
phone bills, and other expenses.

Paying Credit-Card Bills .......................................................... 14–1

Paying Other Bills ................................................................ 14–2
Correcting or Cancelling Other Kinds of Payments .................................. 14–2
Automatically Correcting or Cancelling Other Payments ......................... 14–3

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Chapter 14: Paying Bills

Paying Credit-Card Bills

Simply Accounting allows you to reconcile your credit-card
statements and then pay your credit-card bill.

For more information on reconciliation, see “Reconciling

Statements from a Bank or Credit-Card Company” in
Chapter 20. To pay your credit-card bill, follow the instructions
below:

1. In the Home window on the Vendors and Purchases tab,

choose the Payments or Pay Credit Card Bill icon.

2. In the first field, select Pay Credit Card Bill, and then fill in
the rest of the form.

Enter the fees and interest

payment from the statement.

Print 3. If you are paying a credit-card bill by cheque, you can print a
cheque by choosing Print from the File menu.

4. Click Process.

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Paying Other Bills

You can use Simply Accounting to pay any bill, such as your
rent or a phone bill. You do not need to enter an invoice for a bill.

1. In the Home window on the Vendor and Purchases tab,

choose the Payments or Make Other Payment icon.

2. In the first field, select Make Other Payment.

3. Enter the payment information for the cheque:

Select the expense account

against which the payment
will be recorded.

Print 4. If you are paying this bill by cheque, you can print a cheque
by choosing Print from the File menu.

5. Click Process.

Correcting or Cancelling Other Kinds of Payments

You can clear a miscellaneous payment only if you have not
cleared details for “other payments” from Simply Accounting. If
you have cleared the payment or you have turned off the Store
Invoice Lookup Details option, you must manually cancel or
correct it. You must also have made the payment in the current

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Chapter 14: Paying Bills

fiscal year. See “Manually Correcting or Cancelling Payments to

Vendors” in Chapter 12.

Automatically Correcting or Cancelling Other Payments

1. In the Home window on the Vendors and Purchases tab,
choose the Payments or Make Other Payment icon.

2. In the first field, select Make Other Payment.

Adjust 3. From the Payment menu, choose Adjust Other Payment:

Payment

If you are unsure of the

cheque number that you
want to change, select a
vendor and click Browse.

4. Once you have entered the correct payment, click OK.

5. If you want to cancel the payment, remove all the items from
the payment. To remove a line, click the item, and then
choose Remove Line from the Edit menu. Otherwise, make
the necessary changes.

6. Click Process.

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Employees
Chapter 15

Paying
Paying Employees

Whether you have one employee or thousands of them, Simply Accounting helps
you track and pay employees. Overtime, taxes, holiday pay—they’re all
automatically calculated.

Checking Your Payroll Options ..................................................... 15–1

Adding Employees ................................................................ 15–1
Adding Basic Employee Information ............................................ 15–2
Adding Income Information for an Employee .................................... 15–4
Adding Taxes and Deductions for an Employee .................................. 15–5
Adding Entitlements for an Employee ........................................... 15–6
Setting up for Direct Deposit .................................................... 15–7
Recording T4 and Relevé 1 Slips Information ..................................... 15–8
Recording GST and QST on Employee Benefits ................................... 15–9
Deducting GST or QST from Each Paycheque ................................. 15–9
Recording the GST or QST as a Payroll Expense .............................. 15–10
Paying Individual Employees ...................................................... 15–11
Paying a Group of Employees with a Payroll Cheque Run ............................ 15–14
Paying Out Vacation Time......................................................... 15–16
Checking How Much Vacation Pay You Owe an Employee ....................... 15–17
Looking Up Information on Old Paycheques ........................................ 15–17
Correcting Errors on Paycheques ................................................... 15–18
Automatically Correcting an Employee’s Most Recent Paycheque ................. 15–18
Correcting an Older Paycheque ................................................ 15–18
Keeping Your Tax Tables Up To Date............................................... 15–21
Direct Deposit .................................................................... 15–21
Setting up for Direct Deposit ................................................... 15–22
Processing Payroll ............................................................ 15–22
Printing Direct Deposit Stubs............................................... 15–22
Submitting the Direct Deposit File .............................................. 15–23
Printing a Direct Deposit Log .............................................. 15–23
Clearing Direct Deposit Data ............................................... 15–24

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Chapter 15: Paying Employees

Employees
Paying
What You Need to Do
‰ Set up your payroll options.

‰ Add employees.

‰ Process the paycheques, either individually or in a cheque

run.

Note: In order to use the automatic payroll calculation

features in Simply Accounting, you need to provide a client
ID and a payroll ID. Messages in the program describe how
to obtain these IDs, and how to enter them. You can also
enter the payroll ID in the Home window by selecting
Unlock Auto Payroll in the Help menu. You do not need any
IDs to calculate payroll manually.

Checking Your Payroll Options

† Check options Make sure that you have set up your payroll options properly
† Add employees before adding employees to Simply Accounting. See “Set Up
† Process cheques Payroll Options” in Chapter 3.

If you are unfamiliar with government requirements, read

Chapter 18 “Payroll Accounting” in the Accounting Manual.

Adding Employees
5 Check options You can add employees using the Employees window or you can
† Add employees add an employee when you create a paycheque.
† Process cheques
Adding employees to Simply Accounting lets you keep track of
basic information, such as the employee’s hire date and the
amount you have paid the employee over a year. You can then
process paycheques, automatically deducting the appropriate
amounts from your bank account.

You can also print cheques automatically; however, if you

prefer, you can create a transaction for your records and then
write your cheques from your chequebook.

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Part 2: Day-to-Day Business

Adding Basic Employee Information

1. In the Home window on the Payroll tab, click the Employees
icon.

Create 2. On the File menu, choose Create.

3. Fill in the information on the Personal tab.

Simply Accounting Department. If you use Simply Accounting Pro or higher,

Pro or higher and have set up departments, this field appears on the
Personal tab. The department entered in this field will be
used automatically when you enter paycheques for this
employee.

For example, if you linked account 5300 as your Regular

Wage Expenses, and you assign 0100 as the employee’s
department, then processing a paycheque for that employee
would update the 5300-0100 Regular Wage Expenses
account.

For information about setting up departments, see

“Accounting by Departments” in Chapter 2 of this guide.

Simply Accounting Job Category. You can assign a job category to each
Pro or higher employee to help track revenues, or to identify the
employees who are required to submit time slips in Simply
Accounting Pro or higher.

For example, if you create a Sales category and assign this

category to all your salespeople, you can track their
revenues on sales invoices.

To set up job categories, in the Home window on the Setup

menu, select System Settings, and then choose Settings. Click
Payroll. Under Payroll, select Job Categories. To save time,
you can use the Job Categories window to assign several
employees to a category at one time. For more information
on setting up Job Categories, refer to “Create Job Categories”
in Chapter 3.

To learn about tracking salespeople on invoices, refer to

Chapter 13, “Selling.”

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Chapter 15: Paying Employees

Employees
Paying
Simply Expense Group. If you use Simply Accounting Premium or
Accounting higher, and have turned on the Payroll Expense Group
Premium or
setting, this field appears. Expense groups enable you to
higher
have more than one set of payroll linked accounts to
accurately distribute and track payroll expenses. For more
information about setting up expense groups, see “Setting
Up a Payroll Expense Group“in Chapter 3.

4. Click the Taxes, Income, and Deductions tabs and enter the
information. For more information on these tabs, refer to the
next two sections, “Adding Income Information for an
Employee,” and “Adding Taxes and Deductions for an
Employee.”

5. If you wish to record information about the employee’s

entitlements, complete the Entitlements tab. See the section
“Adding Entitlements for an Employee,” later in this
chapter.

6. If you have set up user-defined expenses, complete the User-

Defined Expenses tab. In Canada, this information is entered
using the WCB and Other Expenses tab.

7. If you plan to directly deposit the employee’s paycheques

into the employee’s bank account, fill in the information on
the Direct Deposit tab, as described in the section “Setting
up for Direct Deposit,” later in this chapter.

8. If you have set up fields to contain additional information

about employees, fill in the Additional Info tab.

9. If your company has records from the previous tax year, fill
in the information on the T4 and RL-1 Reporting tab.

Save 10. Choose Save from the File menu.

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Part 2: Day-to-Day Business

Adding Income Information for an Employee

When adding or changing an employee, click the Income tab for
the employee to enter their current pay.

Add up the amount of

taxable benefits that you
pay on behalf of this
employee, such as child
care.

Canadian employers need

to track and retain
vacation pay.

Displays quarter-to-date
amounts.

Hours Per Period: This field appears for an income that is an

hourly rate or differential rate. Enter the number of hours
normally worked for this type of income.

In the Canadian version, Hours Per Period also appears for an

item defined as an “income” type whose Insurable Hours option
has been selected (in System Settings, Settings, Payroll tab). For
such an income, the Hours Per Period will be reported on
paycheques as EI insurable hours.

Benefits Per Period: Remember that the amount you enter for
Benefits Per Period is not added to an employee’s cheque.

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Chapter 15: Paying Employees

Employees
Paying
Simply Accounting uses this amount to calculate taxes and
prints the information on T4 and Relevé 1 slips or W-2 forms.

Wage Expenses: You can link employees or groups of

employees to different wage expense accounts. This is useful if,
for example, you want to track the wages for a particular type of
employee in one account, and others in different accounts.

GST/QST: Do not enter the amount of GST or QST charged on

the taxable benefits in the Benefits Per Period field. Instead, use a
GST or QST Benefits field, as explained in “Recording GST and
QST on Employee Benefits” later in this chapter.

Vacation Pay: Whether you retain vacation pay or pay it out on

every paycheque varies according to provincial legislation. If you
retain vacation pay, you should read “Paying Out Vacation
Time” later in this chapter.

Record Wage Expenses In: If you want to track an employee’s

wages in a different payroll expense account, click the second
button and select an account from the list. In Canada, if you are
using Simply Accounting Premium or higher, and if you have set
up payroll expense groups, this field does not appear.

Adding Taxes and Deductions for an Employee

You are responsible for deducting taxes and various other
amounts from employee paycheques. You can record these
deductions for each employee.

Tax and deduction information is found on the Taxes and

Deductions tabs. You may wish to consult with the Canada
Revenue Agency, U.S. Internal Revenue Service, and state tax
authorities to find out more about deductions and claims.

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The province you select

determines the amount of
tax to deduct.

The employee may

request additional tax to
be deducted to cover
taxes on other income or
capital gains.

The state you select

determines which fields
appear below.

Enter the number of state

withholding allowances
the employee claims.

You can deduct amounts based on a percentage or a fixed

amount. You can specify which deductions are by percentage
and which are by amount in the Settings window. For more
information, see “Set Up Payroll Options” in Chapter 3.

Adding Entitlements for an Employee

You can track employee entitlements such as sick days or leaves
of absence.

The settings you specified on the Payroll Settings window

appear in all employees’ records, but you can change them for
each employee.

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Chapter 15: Paying Employees

Employees
Paying
Enter the typical number
of hours in a work day.
For each entitlement that
you use, enter the
information.

Setting up for Direct Deposit

If you have registered for the Direct Deposit service, you can set
up to have an employee’s paycheque directly deposited into the
employee’s bank account. For detailed setup instructions, see the
section “Direct Deposit” later in this chapter.

Once you have registered, complete the information on the

Direct Deposit tab of the Employees window:

Click this box to be able

to directly deposit the
employee’s paycheques.

Enter the employee’s

bank account information
and the amount or
percentage of the
employee’s paycheque
to be deposited to the
account. You can specify
up to 12 bank accounts
for each employee.

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Part 2: Day-to-Day Business

Click this box to be able

to directly deposit the
employee’s paycheques.

Enter the employee’s

bank account information
and the amount or
percentage of the
employee’s paycheque
to be deposited to the
account. You can specify
up to 12 bank accounts
for each employee.

Note: When processing a paycheque, the program will first

deposit the amounts you entered in the Amount column of the
Direct Deposit tab. Then, for the remaining balance of the
paycheque, the program will use the values entered in the
Percentage column to calculate the amounts to be deposited.

For example, for the employee record shown in the previous

illustration, the program would distribute a paycheque of $200
as follows:

■ $100 is deposited to account number 33333, leaving a

balance of $100.

■ $25 ($100 x 25%) is deposited to account number 11111.

■ $10 ($100 x 10%) is deposited to account number 22222.

■ $65 ($100 x 65%) is deposited to account number 44444.

Recording T4 and Relevé 1 Slips Information

If your company has records from the previous tax year, the T4
and RL-1 Reporting tab in the employee record includes fields
for the current and prior years.

EI Insurable Earnings. Enter the employee’s insurable income

for the year. The Prior Year field shows previous EI insurable
earnings, if any.

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Chapter 15: Paying Employees

Employees
Paying
Pensionable Earnings. Enter the employee’s CPP/QPP
pensionable earnings for the year. This amount appears in
Box 26 on T4s and Box G on Relevé 1 slips. You can customize
your Employee report so that it includes Pensionable Earnings.
The Prior Year field shows the previous year’s pensionable
earnings, if any.

RPP/DPSP Registration Number. If the employee belongs to a

Registered Pension Plan or a Deferred Profit Sharing Plan, enter
the plan number that should be printed on employee T4 slips.

Pension Adjustment. If required, enter the pension adjustment

amount that will print on the employee’s T4 slip.

T4 Employee Code. If applicable, select a code from this field.

It will appear in Box 29 on the employee’s T4 slip.

Recording GST and QST on Employee Benefits

When an employee receives benefits subject to GST or QST, the
government normally requires that you pay the tax as you
would for a sale. However, exceptions do exist. Contact the
Canada Revenue Agency or the ministère du Revenu du Québec
for more information.

Deducting GST or QST from Each Paycheque

To be able to deduct the GST or QST from each

paycheque:

1. Add a liability account called GST Payroll Deductions or

QST Payroll Deductions. For more information on adding
accounts, see “Add or Change Accounts” in Chapter 2.

2. In the Home window on the Setup menu, choose System

Settings, and then Names and Terminology.

3. On the Payroll tab, change the name of one of the Deduction

options (1 through 20) to GST/Benefits or QST/Benefits, and
click OK.

4. In the Home window on the Setup menu, choose System

Settings, and then Settings. Under Payroll, click Deductions.

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5. Beside GST/Benefits or QST/Benefits, check the box to

indicate that it should be deducted after tax, and click OK.

6. On the Setup menu, choose System Settings, then Linked

Accounts. Click the Payroll Deductions tab.

7. In the GST/Benefits or QST/Benefits box, select the payroll

deductions account you created in step 1.

8. Click OK.

To deduct the GST or QST from each paycheque:

1. On the paycheque, enter the taxable benefit in the Benefits

field.

2. In the GST/Benefits or QST/Benefits field, enter the amount

of GST or QST the employee must pay.

When you process the paycheque, the sales tax the employee
owes the government is recorded in the payroll deductions
account.

Recording the GST or QST as a Payroll Expense

If you prefer not to deduct sales tax from each paycheque, you
can record the following transaction during the current calendar
year or as a prior-year expense.

To be able to record the GST or QST as an additional payroll

expense:

■ Add a liability account called GST Payroll Deductions or

QST Payroll Deductions. For more information on adding
accounts, see “Add or Change Accounts” in Chapter 2.

■ Add an expense account called GST Paid On Benefits or QST

Paid On Benefits.

To record the GST or QST expense:

1. In the Home window on the General tab, choose the

Miscellaneous Transactions icon.

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Chapter 15: Paying Employees

Employees
Paying
2. In the Account field, select the GST Paid On Benefits or QST
Paid On Benefits account. Enter the amount of the tax in the
debit field.

3. In the Account field, select the GST or QST Deductions

account. Enter the amount of the tax in the credit field.

4. Fill in the remaining parts of the screen, and click Process.

Paying Individual Employees

5 Check options If you have only a few employees and want to print one
5 Add employees paycheque at a time, follow the steps in this section. To print
† Process cheques several or all cheques at once, see the next section, “Paying a
- individually Group of Employees with a Payroll Cheque Run.”

If you want to print a post-dated cheque, you must set up Simply

Accounting to allow transactions in the future. Read the section
on dates in “Enter Background Information about your
Company” in Chapter 3.

To pay an individual employee:

1. In the Home window on the Payroll tab, choose the

Paycheques icon.

Calculate 2. On the toolbar, make sure that the Calculate Taxes

Taxes Automatically button is selected.
Automatically
3. In the To The Order Of field, select an employee.

4. If you have set up the employee to have the paycheque

directly deposited to the employee’s bank account, check the
Direct Deposit This Paycheque box.

5. Enter any additional income or deductions, such as overtime

or a pay advance:

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When the employee pays back the advance, enter a

negative value in this field. The current balance that the
employee owes the company is noted in the YTD field.

Enter additional benefits

in this field, such as the
cost of a company car.

If you retain vacation pay, and the employee takes some

time off, you can release that pay by entering the amount in the
Vacation Paid field. Total vacation pay owed appears in the
Vacation YTD field.

6. If you track employee entitlements, enter the entitlement

days earned or released on the Entitlements tab.

Simply Accounting
calculates the days
earned based on this
field.

Enter the days earned

or released.

7. If you have set up additional expense accounts, verify the

amounts on the User-Defined Expenses tab, and change
them as needed.

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Chapter 15: Paying Employees

Employees
Paying
Allocating to multiple 8. If you are allocating payroll amounts to multiple
departments departments:

a) On the Paycheque menu, choose Allocate to

Departments.

b) In the Department column, double-click the line that

contains the amount you want to allocate to multiple
departments.

c) Select the departments to which you want to allocate the

amount.

d) Enter the percentage in the % column.

e) If you want to apply the same allocation to all of the

employee’s accounts, check the Apply This Allocation To
All Accounts By Percentage box.

f) Click OK twice to return to the Paycheques window.

9. If you have chosen to track Quebec tips, you can also enter
income received from tips:

Sales the employee

handled and the tips
they collected on
those sales.

Amount of Columns C, D,
and E on employee’s
Register and Statement of Automatically calculated at 8% of Tippable
Tips (form TP-1019.4.U-V). Sales, as required by the Quebec government.

Preview 10. If you use a custom Simply Form for cheques or direct
deposit stubs, you can preview the report by selecting the
Preview Simply Form icon from the toolbar.

Print 11. If you use Simply Accounting to print cheques or direct

deposit stubs, choose Print from the File menu.

12. Click Process.

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Paying a Group of Employees with a Payroll

Cheque Run
5 Check options Processing individual cheques using the Paycheques window
5 Add employees can be overly time-consuming if you work with a relatively large
† Process cheques business. You can pay many employees at once with a cheque
- all at once run.

Note: With a cheque run, you can change the deductions, give
advances, or pay out vacation time, just as you can do when
issuing individual paycheques.

To complete a payroll cheque run:

1. In the Home window on the Payroll tab, choose Payroll

Cheque Run.

Simply Accounting 2. If you use Simply Accounting Pro or higher and have set up
Pro or higher departments, you can choose whether to use departments
when updating the payroll-related accounts for all the
employees that you process during this run. In the Dept.
(Department) field, choose either:

■ Employees’ Departments — Use the department from

each employee’s record.

■ No Departments — Use only the account number

(without departments).

3. Select the pay period frequency and enter the dates and
starting cheque number for this run. Check marks appear in
the first column, indicating employees who need to be paid
for the period you selected:

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Chapter 15: Paying Employees

Employees
Paying
This field appears if you
use departments.

Select any employees

who need to be paid for
the selected pay period.

Click in this column if you

want to print a cheque or
a direct deposit stub for
the employee.
Click in this column to
select employees whose
cheques are to be
directly deposited.
Change income, deductions, taxes,
US companies
user-defined expenses, or entitlements
need to specify the start
for this pay period, if required.
date.

Note: You can click the Process or Print column heading to

select all employees for the selected pay period.

Allocating to multiple 4. If you are allocating payroll amounts to multiple

departments departments:

a) On the Payroll menu, choose Allocate to Departments.

b) In the Department column, double-click the line that

contains the amount you want to allocate to multiple
departments.

c) Select the departments to which you want to allocate the

amount.

d) Enter the percentage in the % column.

e) If you want to apply the same allocation to all of the

employee’s accounts, check the Apply This Allocation To
All Accounts By Percentage box.

f) Click OK twice to return to the Payroll Cheque Run

window.
5. From the Report menu, choose Print Payroll Cheque Run
Summary (and Print Direct Deposit Stub Summary if you
use direct deposit) to print a report showing the amounts

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that will appear on employees’ cheque stubs (or direct

deposit stubs). Keep this summary for your records.

6. If you want to see the actual transactions that will be made

to your payroll accounts as a result of this cheque run,
choose Display Payroll Run Transaction Detail from the
Report menu.

Print 7. If you are printing cheques, choose the Print icon on the
toolbar, or choose Print from the File menu.

Print Direct 8. If you are printing direct deposit stubs, choose Print Direct
Deposit Stubs Deposit Stubs from the File menu or the icon in the upper
right corner.

9. Click Process.

Paying Out Vacation Time

If you retain vacation pay for employees rather than paying it
out on every cheque, you need to release their vacation pay
when they take time off.

To pay out vacation time:

1. In the Home window on the Payroll tab, choose Paycheques.

2. Select the employee.

3. On the Income Tab, in the Vac. Paid field, enter the amount
of vacation to be paid out.

Note: Total vacation pay accrued for the period is indicated

in the Vacation amount field. The Vac. Accrued YTD field
shows the total amount of vacation pay owed to the
employee. This figure includes any vacation pay earned for
the current payroll period.

4. Click Process.

Note: If the employee’s paycheque is part of a cheque run, then

you can pay out the vacation from the Payroll Cheque Run
window.

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Chapter 15: Paying Employees

Employees
Paying
Checking How Much Vacation Pay You Owe an Employee
If you choose to retain vacation pay, you can easily find out how
much vacation pay you owe an employee.

To check how much vacation pay you owe an employee:

1. In the Home window on the Reports menu, choose Payroll,

and select Employee.

2. Under Report Type, click Summary.

3. Select the name of the employee and click OK.

The vacation pay owed is the amount under Vacation Owed.

Looking Up Information on Old Paycheques

To review the details of existing cheques:

1. In the Home window on the Reports menu, select Payroll,

and then Employee.

2. Select the employees for whom you need information. If the

employees belong to a single job category, then select the job
category to quickly filter the list of employees.

3. Select Detail, then the range of dates.

4. To limit the report to only those details you want, click

Customize.

5. On the Customize Report Columns tab, select Custom

Report Column Settings.

6. Select only those fields that you want to include on the

report.

7. Click OK to save your customization settings.

8. Click OK to view the report

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Correcting Errors on Paycheques

As long as you catch an error before issuing the employee’s next
paycheque, you can correct it automatically. Just reverse and
void the original cheque and then issue a new one.

If, on the other hand, several pay periods have passed, you will
need to manually reverse and void the cheque and then issue a
new one. You need to do this to avoid any miscalculation of the
employee’s taxes.

If you have made out a new cheque, make sure to void the old
one before completing these corrections. Otherwise, both the old
cheque and the new one could be cashed.

Automatically Correcting an Employee’s Most Recent Paycheque

To automatically correct an employee’s latest paycheque:

Adjust Cheque 1. In the Home window on the Payroll tab, select the
Paycheques icon, and choose Adjust Cheque from the
Paycheque menu.

2. Select the paycheque you wish to adjust.

3. Make changes to the cheque. If you just want to cancel an

employee’s cheque without issuing a new one, delete the
amounts on every tab.

Recalculate 4. If you are re-issuing a cheque, choose Recalculate Taxes from

Taxes the Paycheque menu to update tax deductions.

Print 5. If you want to print a new cheque, choose Print from the File
menu.

6. Click Process.

Correcting an Older Paycheque

If you are correcting a cheque from an earlier pay period and tax
rates have changed, you need to restore the old tax rates.

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Chapter 15: Paying Employees

Employees
Paying
Otherwise, Simply Accounting will not be able to reverse the
paycheque properly.

Part 1: If necessary, restore old tax rates

1. In the Home window on the Setup menu, choose System

Settings, and then Settings. Click Payroll, and then Income.

2. Write down the tax rates currently on the screen, then enter
the rates in effect when you issued the original cheque, and
click OK.

3. In Canada, reset the tax, WCB, or CSST rates:

a) In the Home window on the Payroll tab, click the

Employees icon and then open the record for the
employee whose cheque you are reversing.

b) Click the WCB and Other Expenses tab. Write down the
current WCB rate (or CSST, in Quebec) and then enter
the rate in effect for this employee when the original
cheque was issued.

Save c) Choose Save from the File menu or toolbar.

Part 2: Correct the paycheque manually

1. In the Home window on the Payroll tab, click the

Paycheques icon and then select the employee whose cheque
you are correcting.

Enter Taxes 2. Click the Enter Taxes Manually toolbar button.

Manually
3. Enter a cheque number, and all amounts from the incorrect
cheque preceded by a minus sign.

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Part 2: Day-to-Day Business

Make sure that this

button is selected.
Enter the original cheque
number, followed by the
letters COR or ADJ.

Enter the values from the

original cheque with a
minus sign.

4. Click Process.

Note: By processing this transaction, you reverse the

incorrect paycheque. A record of both the original incorrect
transaction and the reversing transaction appear in the
Payroll Transactions report.

5. If you want to re-issue a corrected cheque, do so now. For

more information, see “Paying Individual Employees”
earlier in this chapter.

Part 3: If you changed the tax rates, restore the new rates

1. In the Home window on the Setup menu, choose System

Settings, and then Settings. Click Payroll, and then Income.

2. Restore any rates that you changed in Part 1 to the correct

rates for the current period.

3. If you are working with a Canadian company, in the Home

window on the Payroll tab, click the Employees icon and
then open the employee record. Restore the workers’
compensation rates for the current period.

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Chapter 15: Paying Employees

Employees
Paying
Keeping Your Tax Tables Up To Date
To ensure that the correct amount of tax is deducted from each
cheque, you should make sure that your Simply Accounting tax
tables are up to date. Otherwise, you have to manually calculate
all taxes for each paycheque you issue. If you subscribe to
SimplyCARE with Payroll or SimplyCARE with Payroll and
Support, you can have Simply Accounting automatically check
for and install payroll tax updates whenever you are connected
to the Internet, as follows:

1. In the Home window on the File menu, choose Automatic

Updates.

2. Select the Require Client ID To Download box if you want

Simply Accounting to ask you to enter your client ID before
downloading any updates. This can work as a password in
case you don’t want other people downloading updates.

3. Select the box to allow Simply Accounting to check for

payroll updates at start up. Simply Accounting will attempt
to connect to the Internet to check for updates when you
open the program.

4. You can click the Check Now button if you would like to
check for updates right away.

5. Click OK.

Direct Deposit
The direct deposit feature allows you to deposit paycheques
directly (electronically) into your employees’ bank accounts.

To use this feature, you must first register for this service. Then,
in Simply Accounting, set up information about your employees.
Every time you process direct deposit paycheques, Simply
Accounting stores the paycheque information. You then submit
(upload) this information to a service provider, which then
deposits the paycheques to the employee’s bank accounts.

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Setting up for Direct Deposit

Before using direct deposit, follow these steps.

1. You must register with a service provider. In the Home

window, open the Business Services menu, then choose
Direct Deposit. Then follow the instructions on the screen.

2. Set up direct deposit information for your employees.

Complete the information on the Direct Deposit tab of the
Employee Records window.

3. Set up printer settings for direct deposit stubs. From the

Setup menu, choose Reports and Forms, then click Direct
Deposit Stubs.

Processing Payroll
Process your payroll, using the Paycheques or the Payroll
Cheque Run window, as described in the previous sections of
this chapter.

In the Paycheques window, select the Direct deposit this

paycheque box to deposit the paycheque directly. Similarly, in
the Payroll Cheque Run window, select the Direct Deposit
column of the paycheque(s) to be deposited directly.

Printing Direct Deposit Stubs

Simply Accounting will print “Non-Negotiable” on the direct

deposit stubs of employees who have been set up for direct
deposit.

Print icon To print the direct deposit stub when using the Paycheques
window, select the Direct Deposit This Paycheque box and click
the Print icon on the upper right corner of the window (or choose
Print from the File menu).

Print Direct To print direct deposit stubs when using the Payroll Cheque Run
Deposit Stubs window, click the Print Direct Deposit Stubs icon on the upper
icon right corner of the window.

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Chapter 15: Paying Employees

Employees
Paying
You can choose to print direct deposit stubs in batches (for more
information on batch printing, see Chapter 22 “Increasing
Efficiency” in the User Guide).

Submitting the Direct Deposit File

When you are ready to submit (upload) the direct deposit file to
the service provider for processing, follow these steps:

Upload Direct 1. In the Home window, click the Upload Direct Deposit File
Deposit File toolbar button. Or, from the File menu, choose
Import/Export, then Upload Direct Deposit File. This opens
the Direct Deposit window.

2. Enter display criteria:

a) In the Status field, choose whether to display all direct

deposit cheques, or only those that that have been
generated previously, or only those that have never been
generated.

b) Choose the date of the direct deposit cheques to display.

c) Click the Display button to list the cheques.

3. Select the cheques to be included in the direct deposit

upload file by clicking in the checkmark column.

4. Click Upload.

5. Enter the information in the service provider’s

authentication window, and click Upload.

A message then informs you that Simply Accounting has

uploaded a direct deposit file to your service provider. In the
message box, you can click on the hyperlink to log on to the
service provider’s web site to review your uploaded files.

Printing a Direct Deposit Log

To see a report of direct deposit cheques that have been sent or

will be sent: From the Reports menu, choose Banking and then
Direct Deposit Log.

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Clearing Direct Deposit Data

As with other Simply Accounting data, you can periodically

clear the direct deposit data. In the Home window from the
Maintenance menu, choose Clear Data, then Clear Direct Deposit
Data.

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Chapter 16
Entering Other Types of Transactions

Sometimes you need to complete transactions that aren’t suitable to the other
Simply Accounting windows. This can include transferring funds from one bank
account to another, or entering year-end adjusting entries.

Entering a Daily Bank Deposit ...................................................... 16–1

Recording a Miscellaneous Transaction .............................................. 16–3
Transferring Funds from One Account to Another ................................ 16–3
Entering Sales Taxes Information ................................................ 16–4
Changing or Cancelling a Miscellaneous Transaction.................................. 16–5
Manually Correcting a Miscellaneous Transaction ................................ 16–6

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Chapter 16: Entering Other Types of Transactions

Entering a Daily Bank Deposit

When you receive payment for goods or services, you should
make a deposit to your bank account at the end of the day. If you
enter the deposit slip details into Simply Accounting, you can
automate your account reconciliation process at month-end.

If you are using Simply Pro or higher, you can save partially
completed deposit slips and return to work on them later.

1. In the Home window on the General tab, click Reconciliation

and Deposits or Deposit Slip icon.

2. Select Deposit Slip from the Transaction list.

3. Select the account for which you have a deposit slip.

If you have entered the account details in the account record,

Simply Accounting will automatically display them.

4. If you have set up the account to assign deposit slip

numbers, the next number will appear in the number field. If
not, enter the date and amount of the deposit as a number.

5. Verify or change the date and add a comment, if you wish.

6. Add cheques to the deposit: click the Select button in the

Cheques area. If there are no cheques to deposit, go to step 7
to add cash to the deposit slip.

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A new window appears:

Select the account you

deposited the cheque into
in the Receipts window.

Select the cheque(s) you

are adding to this deposit
and then click Add.

Review the list. If you want

to make any changes, click
the Remove button to
remove a cheque from the
list.

Click OK.

7. To add cash to the deposit:

a) Click the Select button in the Cash area.

b) Select the account you deposited the cash into in the

Receipts window, and then select a currency.

c) Enter the number of bills you have of each denomination

in the Count column.

d) Enter the total value of all coins you have received in the
Amount column.

e) Click the Apply to Deposit Slip button.

f) Click OK.

8. Check the details of the deposit slip and then click Process.

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Chapter 16: Entering Other Types of Transactions

Recording a Miscellaneous Transaction

Use the Miscellaneous Transactions window for all transactions
that cannot be completed in other windows.

Generally, your accountant will use this window to make

adjusting entries at the end of the year; however, you can also
use it to transfer funds from one account to another.

You cannot make entries that affect “control” accounts, such as

Accounts Payable, Accounts Receivable, and Inventory.

Transferring Funds from One Account to Another

1. In the Home window on the General tab, choose the
Miscellaneous Transactions icon.

2. On the first line in the Account field, select the bank account
that you would like to increase. Then, in the Debits field,
enter the amount.

3. On the next line in the Account field, select the bank account
from which you would like to withdraw funds. Then, in the
Credits field, enter the amount.

4. Fill in the remaining parts of the form:

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This comment is for the entire

transaction.
This option appears if you
have set up another currency.

This comment is for the

account (line) only.

These two values must be

equal.

Tip: To hide the Comments column, choose the View menu,

then Customize Transaction Window. On the Miscellaneous
Transactions tab, in the Do Not Show section, select the
Comment box; then click OK.

5. Click Process.

Entering Sales Taxes Information

We recommend that only experienced accountants use this
procedure.

Even if you have set up asset or liability accounts to keep track

of all of your taxes, you should still use this procedure to enter
the appropriate tax codes for a miscellaneous transaction. If you
fail to do so, your tax reports will be incorrect.

1. In the Miscellaneous Transactions window, enter at least one

account that is linked to a sales tax. This makes the Sales
Taxes button available to you.

2. Click the Sales Taxes button. This opens the Sales Taxes –
Miscellaneous Transactions window, which displays the tax
accounts:

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Chapter 16: Entering Other Types of Transactions

3. Select the Transaction Type (purchase or sale).

4. Enter the Tax field and Tax Code field, and move to the next
field.

5. The Amount Subject to Tax and the Other Taxes Paid fields
are automatically calculated. Adjust them if required.

6. Click OK to accept the data and return to the Miscellaneous

Transactions window.

7. Click Process.

The tax information you entered will appear on the tax report (in
the Home window choose the Reports menu, then Tax).

Changing or Cancelling a Miscellaneous

Transaction
If you have entered an incorrect miscellaneous transaction, as
long as you have not cleared the transaction, you can
automatically change or cancel it. You must also change or
cancel the transaction manually if it occurred in a previous fiscal
year or if you have turned off the Store Invoice Lookup Details
option. See the next section for more information.

1. In the Home window on the General tab, choose the

Miscellaneous Transactions icon.

Adjust 2. From the Entry menu, choose Adjust Transaction.

Transaction

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3. Select the transaction you want to change or cancel, and click

Select.

4. If you want to cancel the transaction, delete all the detail

lines. Select a detail line, and then choose Remove Line from
the Edit menu. Otherwise, make the necessary changes.

5. Click Process.

Manually Correcting a Miscellaneous Transaction

You must correct a miscellaneous transaction manually if it
occurred in a previous fiscal year. You also need to do this if you
cleared a transaction and can no longer look it up or you have
turned off the Store Invoice Lookup Details option.

1. In the Home window on the General tab, choose the

Miscellaneous Transactions icon.

2. Enter the source number of the original transaction followed

by the letters COR or ADJ.

3. Enter the same account numbers and amounts as in the

original transaction, but enter the debit amount in the credit
field and vice versa.

4. If you allocated revenues or expenses to a project, you must

reverse these allocations as well. For more information on
projects, see Chapter 5 “Setting Up Projects.”

5. Complete the remaining parts of the form, and click Process.

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Chapter 17
Allocating Revenues and Expenses
to Projects

Allocating amounts to projects allows you to track revenues and expenses for
particular activities. You can then set goals (with a budget) for individual projects.

Allocating Project Revenues and Costs............................................... 17–1

Allocating an Amount to a Project ............................................... 17–1

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Chapter 17: Allocating Revenues and Expenses to Projects

Allocating Project Revenues and Costs

Once you have set up project allocation, as discussed in
Chapter 5, “Setting Up Projects,” you can allocate amounts to
projects, either line by line, or for an entire transaction.

You can allocate amounts to projects from the following

transaction windows:

■ Inventory Adjustments.

■ Miscellaneous Transactions.

■ Paycheques.

■ Payroll Cheque Run.

■ Purchases, Orders, and Quotes.

■ Sales, Orders, and Quotes.

■ Time Slips (Simply Accounting Pro or higher).

Allocating an Amount to a Project

1. In the Home window, choose the transaction window you
need, and enter the transaction as you normally would.

Allocate 2. Click the Allocate toolbar button, or double-click in the

Allocate column on a specific item line.

Note: Each item to be allocated must be associated with a

revenue or expense account. Paycheques are always
associated with an expense account.

3. Indicate whether you want to allocate the amount of the

entire transaction and then select the associated projects:

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Click the Search button to

display a list of projects,
and then select one. You
can also add projects "on
the fly"

Enter an amount or
percentage, depending
on the allocation method
you chose on the Project
tab in System Settings.

4. Click OK.

5. Process your transaction.

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Chapter 18
Keeping Track of Time and Billing

You can keep track of the time you and your employees spend on different
activities, and then use the information to bill your clients.

Create a Service Item for Each Activity ............................................. 18–1

Record the Time Spent ............................................................ 18–2
Invoice the Customer ............................................................. 18–5
Pay Employees ................................................................... 18–7
Look Up Time Slips............................................................... 18–8
Adjust Time Slips ................................................................ 18–9
Time-Slips Reports .............................................................. 18–11

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Chapter 18: Keeping Track of Time and Billing

What You Need to Do

If you are using Simply Accounting Pro or higher, you can keep
track of the time you and your employees spend on various
tasks or activities, and can create sales invoices based on the time
spent. To do this, you will:

‰ Create a service activity item for each activity you want to

track.

‰ Record the time spent.

‰ Invoice the customer.

Create a Service Item for Each Activity

1. On the Inventory and Services tab, add a record for each
activity you want to track. Be sure to:

a) Choose Service as the item type, and check the Activity

(Time and Billing) box.

If this is an activity that is performed by or for a

department within your company (such as
administration or professional development) and you do
not invoice customers for it but want to keep track of it,
check the Internal Service Activity box. Simply
Accounting will keep track of the activity and include it
on Time and Billing reports, but it cannot be selected
when filling out sales invoices.

b) On the Time and Billing tab, if the unit is not hours or

minutes but can be measured in hours or minutes, check
the Unit Is Related To Time box, then fill in the
information about the item.

If you choose to charge a flat fee for an item, note that

Simply Accounting calculates the flat fee by multiplying
a number of units by the price of the item. If you have
entered the flat rate as the price on the Pricing tab, you
must still enter a number in the Flat Fee field on the
Time and Billing tab to have the amount recorded

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correctly on the time slip. Be sure you have entered a

price on the Pricing tab, and that the number in the Flat
Fee field multiplied by the price will calculate the flat
amount you want to use.

In the Default Payroll Income field of the Time and

Billing tab, you can choose a value from the list. The
value entered will automatically appear in the Payroll
Income field of the Time Slips window, so you don’t
have to select it every time.

c) Fill in the information on the other tabs.

2. Save your entries and close the window.

Record the Time Spent

1. In the Home window on the Time and Billing tab, select the
Time Slips icon.

Click the Pushpin button to

use the same employee
for the next time slip.

2. Select an employee. Only employees assigned a Job

Category that displays in time slips will appear in the
drop-down list. You can assign an employee to a job
category on the Personal tab of an employee’s record.

3. Select a customer.

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Chapter 18: Keeping Track of Time and Billing

4. In the Item column, select the service activity.

Notice that values from the service item’s inventory record

(such as description and billing status, and billable amount if
you charge a flat fee) automatically appear. Also notice that
the item is automatically selected (checked), indicating that
the item will have time applied to it if you click Apply Time.

5. In the Actual Time field, enter the time spent on the activity,
in hh:mm:ss (hours, minutes, and seconds). For example,
enter 2 hours as 2:00:00 or 20000.

Using the timer If employees enter their time into the Time Slips window,
they may wish to use the Time Slips timer to simplify the
process. You can use the time slips timer in several ways:

■ Employees may have the time slip open on their

computer when they begin a job, and then click the Start
button. Simply Accounting starts a timer, which the
employee can stop with the stop button. Then, the
employee can add that time to one or more items on the
time slip.

■ Employees can also use the timer to add time to several

items on a single slip rather than entering the time
manually for each item.

Note that there must be a check mark in the timer column in

order for time to be applied to an item this way; once you
have applied the time, the check mark disappears

Billable time The billable time is the time associated with the billing status
listed (Billable, Non-billable, No Charge, or In Progress). If
the billing status is No Charge, the item appears on the
invoice, but the amount charged is blank.

6. To record time to be paid to the employee, enter the

following:

Payroll Time. The time to be paid.

Payroll Income. The type of income to be paid (related to

the payroll time). This field displays the value you entered in
the Default Payroll Income field (Time and Billing tab) in the

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item’s Inventory and Services Records window. You can

enter a different value. The choices are Non-Payroll (that is,
do not pay for the payroll time), or any income that you
defined as an hourly rate or differential rate.

The Payroll Status indicates whether the payroll time has

been paid or not. If the Payroll Income field is Non-Payroll,
then the Payroll Status displays a hyphen.

Allocate time 7. If you want to allocate any part of this employee’s time to a
specific project, double-click in the Allocate field for a
specific activity line, or click the Allocate button on the
toolbar.
Select this box to apply
same allocation to all lines
in the time slip you are
working on.

This allocation choice

determines which field in
the grid you can modify.

8. Enter the allocation amount in the active field (based on the

method of allocation). The remaining fields are
automatically calculated.

9. Repeat steps 3 through 8 for any other activities you want to

add for this employee.

10. If you want to print the time slip, choose Print from the File
menu or toolbar. Before printing, you can choose one of two
versions of the time slip as follows:

a) In the Home window on the Setup menu, select Reports

and Forms.

b) Select Time Slips and click in the Form Type field to

select Custom Simply Form or Custom Reports Form.

c) In the Description field, choose one of the following:

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Chapter 18: Keeping Track of Time and Billing

Timeslip.sfm — shows both billable and payroll

information

or

Timeslip.rpt — shows the billable information.

or

Timeslip_prl.rpt — shows the payroll information.

d) Click OK.

11. Click Record, and close the Time Slips window.

This information is now available when you enter a sales invoice

or pay employees. For more information about customizing or
creating new Simply forms, see “Customizing Forms and
Management Reports” in Advanced Topics.

Invoice the Customer

1. Print a Time and Billing report by customer to identify the
customers who have time slip activities to be invoiced.

2. In the Sales, Orders, and Quotes window, select the

customer you want to invoice.

Add Time Slips 3. Select Add Time Slip Activities button or from the Sales
Activities menu.

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Select the options for the

activities you want to
include on the invoice.

Click in the Add To Invoice

column to identify the
activities to include.

Click the Add button to

add all selected items to
the invoice.

4. Check that the information is correct.

The program sorts the items

according to the options
you selected — in this
case, by date and activity.
If you chose to consolidate
the entries, items are
summarized.

5. Click Process.

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Chapter 18: Keeping Track of Time and Billing

Pay Employees
1. Print the Time Sheet Summary report. (In the Home window
on the Reports menu, choose Time and Billing, then Payroll,
and then Time Sheet.)

You can use this report to identify employees who need

adjustments to their hours and amounts to be paid. For
example, an employee may have recorded 45 hours of
regular pay on their time slips, but should be paid 40 hours
of regular pay and 5 hours of overtime instead. Use this
report to make the adjustments later in step 8.

2. In the Home window on the Payroll tab, select Paycheques

or the Payroll Cheque Run icon.

3. Select the employee(s) to be paid.

Add Time From 4. Select Add Time From Time Slips on the toolbar or
Time Slips Paycheque menu (Payroll menu if using the Payroll Cheque
Run window).

The Payroll Hour Selection window appears, similar to the

following:

5. Select the date range of the time slips to add to the

paycheque.

6. Click OK.

7. If the total hours of a payroll income (such as regular income)

from the selected time slips are fewer than the income’s
hours specified in the employee’s record, a message asks if
you wish to increase the hours from the time slip(s) to match
at least those in the employee’s record:

■ If you choose No, the hours from the selected time slips
will be used.

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■ If you choose Yes, the hours from the employee’s record

will be used.

For example, assume that the regular hours shown on an

employee’s record are 30. Assume you choose to pay three of
the employee’s time slips, which recorded regular hours of
10, 8, and 11 respectively (a total of 29). Since the 29 regular
hours are fewer than 30, the message would appear.

8. The Paycheques (or Payroll Cheque Run) window then

shows the hours and amount to be paid.

For any employees you identified in step 1, adjust their

hours and amounts to be paid.

Allocate 9. If you want to allocate this employee’s hours to a specific

project, click the Allocate toolbar button.

Note: If a time slip already contains project allocations for

activities, they are carried through to the paycheque only if
the payroll amount is distributed by hours. Otherwise, you
must allocate time slip activity in the Paycheques (or Payroll
Cheque Run) window.

10. Click Process.

Look Up Time Slips

You can look up an individual time slip in the Time Slips
window.

Look Up 1. In the Time Slips window on the Time Slip menu or toolbar,
choose Look Up Time Slip.

2. Choose a range of dates and the employee name and time

slip number, if known. Click the Browse button and select
the time slip you want to view.

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Chapter 18: Keeping Track of Time and Billing

Adjust Time Slips

You can change the billable information on a time slip in the
Time Slips window if you have not yet invoiced it. You can also
change the information while entering or adjusting a sales
invoice. If you change time-slip information on the entry lines of
a sales invoice (instead of in the Service Activities Selection
window that you display from the Sales, Orders, and Quotes
window), Simply Accounting changes the Time and Billing
reports to include the new information, and changes the written
up/down sections of the report.

To change a time slip in the Time Slips window:

Adjust Time Slip 1. In the Time Slips window on the Time Slip menu or toolbar,
choose Adjust Time Slip.

2. Once you have selected the time slip, click OK.

3. Make the changes you need, then click Record.

To change a time slip while entering a sales invoice:

1. In the Sales, Orders, and Quotes window on the Sales menu

or toolbar, choose Add Time Slip Activities.

Add 2. In the Service Activities Selection window, click the button at

the top of the Add Activity column to include or remove all
activities on the invoice, or place a check mark in the Add
Activity column to select or remove the activities you want.

Deciding where to ■ Generally, you should use this window to make minor
enter changes changes to activities before invoicing them. Changes you
make here will be recorded on the time slip, just as if
you had made the change in the Time Slips window.

■ If you change an activity’s price, quantity, or amount on

the invoice (in the Sales, Orders, and Quotes window),
the time slip shows the original values, and the
differences appear on the Time and Billing reports as
written up/down amounts and percentages. (These
reports are described in more detail in the Advanced
Topics manual.)

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3. When you have made the changes you want, click the Add
button to include the information on the invoice. If you
make a mistake, choose Add Time Slip Activities again,
correct any errors, and then click the Update button to
update the invoice.

4. Click Process when the invoice is completed.

To change activities that have already been invoiced:

Adjust Invoice 1. In the Home window on the Customers and Sales tab, choose
Invoices or the Sales, Orders, and Quotes icon. Choose
Adjust Invoice from the Sales menu or toolbar, then select
the invoice you want to change.

2. On the Sales menu or toolbar, choose Add Time Slip

Activities.

3. In the Service Activities Selection window, remove or

change the activities as needed.

■ To remove activities from the invoice, change the status

from Invoiced to Billable or No Charge.

■ To add or change activities, click in the Add To Invoice

check mark column and make any changes needed.

Consolidated To change an invoice that contains consolidated

activities (summarized) service activities, you should use this window,
not in the invoice window. This ensures that the Time and
Billing reports are correct. Change the status of the items
you are adjusting from Invoiced to Billable, then check the
Consolidate Onto Invoice box and click Update to update
the invoice.

If you want to invoice Note: If you change or remove a line from an invoice and
an item later want to bill for it later, you must change the activity in this
window, not in the Time Slips window.
You cannot use the Time Slips window to adjust activities
that have been invoiced; you must adjust them in the Service
Activities Selection window for the invoice that you are
adjusting.

For example: If you have invoiced several activities, and

then want to remove one of them and bill for it later, you

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Chapter 18: Keeping Track of Time and Billing

would choose Adjust Invoice in the Sales window, then

choose Add Time Slip Activities. In the Service Activities
Selection window, change the status of the item to be
invoiced later to Billable, then click the Update button.
Simply Accounting will display the invoice without the
activity you just changed to Billable. Later, you can select the
activity in the Service Activities Selection window and click
Add to include it on the new invoice.

4. Click the Update button to include the changes on the

invoice.

5. If you want to print the invoice, choose Print from the File
menu or toolbar.

6. Click Process.

Time-Slips Reports
You can print reports that show time-slips information by
customer, employee, or activity.

To print time-slips reports:

1. In the Home window on the Reports menu, select Time and

Billing, then Billing or Payroll.

2. Select the report you want.

3. Select the options you want. Note that some options may not
be available, depending on your selections in the Report
Type, Select Categories To Report, and Select Activities To
Report fields.

4. Click OK.

Choose Print from the toolbar or File menu.

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Company Maintenance
Part 3

Regular maintenance ensures that your business runs smoothly. Some

of these tasks are mandatory for your company, such as filling out
your tax return at the end of the year. Others are optional and help
your business to perform better, such as maintaining a budget.

Chapter 19 — Protecting Your Data

Chapter 20 — Daily and Monthly
Chapter 21 — End of Year and Tax Period

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Chapter 19
Protecting Your Data

You’ll probably spend years accumulating valuable business data with Simply
Accounting. You should protect that knowledge by keeping your data safe.

Checking Data Integrity ............................................................ 19–1

What to Do If You Have Errors in Your Data ..................................... 19–1
Backing Up Your Company’s Information ........................................... 19–2
Backing Up Your Data ......................................................... 19–2
Changing the Backup Frequency ................................................ 19–3
Other Uses for Old Backups .................................................... 19–3
Restoring a Backup ................................................................ 19–4
Saving a Copy of Your Data as You Work ............................................ 19–4
Troubleshooting ................................................................... 19–5
Starting Simply Accounting ..................................................... 19–5
Dimmed Options .............................................................. 19–5
Printing ....................................................................... 19–5
Adding Vendors and Customers ................................................ 19–6
Paying Employees ............................................................. 19–6
Customizing Reports ........................................................... 19–7

Protecting
Your Data
Graphing ..................................................................... 19–7

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Chapter 19: Protecting Your Data

Checking Data Integrity

Periodically, you should check your data’s integrity to ensure
that all of your accounts are balanced.

You can also use this feature to ensure that your files have not
become damaged. Any number of things can cause data
corruption, such as a power failure or a computer crash.

1. In the Home window on the Maintenance menu, choose

Check Data Integrity.

Amounts may be different

from your trial balance if you
have negative-valued assets, An asterisk
liabilities, revenues, or shows where
expenses. your data is out
of balance.

A message tells you whether

your data is out of balance
or damaged.

2. Click OK. If Simply Accounting finds any problems, read the

next section, “What to Do If You Have Errors in Your Data.”

What to Do If You Have Errors in Your Data

1. Be sure you have a backup of your data. See “Backing Up
Your Data” in the next section. Then, in the Home window
on the Maintenance menu, choose Database Utilities, and
then Compact Database.

2. Check your data integrity again. If you still find errors, you
may need to restore your most recent backup and re-enter
any transactions that were entered after you made that
backup.

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Part 3: Company Maintenance

Backing Up Your Company’s Information

Imagine you turn on your computer and nothing happens. Or
worse, you arrive at work to find that your computer has been
stolen. The most important thing you can do every week, if not
every day, is back up your company’s information.

Although you can back up onto any media, including another

hard drive, we recommend you use a tape backup or a CD
writer. Floppy disks, while cheap, are prone to failure. (A
backup on floppy disks is, however, better than no backup
at all.)

You should store your backup in a safe place. Store some

backups at a different location, because fire or theft can destroy
both your computer and your backup.

Backing Up Your Data

1. In the Home window on the Maintenance menu, choose
Check Data Integrity. If Simply Accounting reports that your
data is OK, proceed with the backup. If not, refer to “What
to Do If You Have Errors in Your Data,” earlier in this
chapter.

Backup 2. In the Home window on the File menu, choose Backup.

Change the filename to

ensure that you don’t
overwrite old backups.

Click Browse to select the

folder where you want to back
up your data.

3. Fill in the fields and click OK.

Note: If you are backing up to a recordable CD, you may

want to back up to a folder on your hard drive, and then
copy the file to the CD using the CD writer’s software.

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Chapter 19: Protecting Your Data

Changing the Backup Frequency

Simply Accounting reminds you to back up your data when you
complete various tasks. It will also remind you to back up after a
certain time, such as every day or week. You can change the
frequency at which Simply Accounting reminds you to back up:

1. In the Home window on the Setup menu, choose System

Settings, and then Settings.

2. Click Company, and then System.

You can set up daily,

weekly, semi-monthly,
monthly, or custom
reminders.

Select the backup

options you want.

3. Click OK.

Other Uses for Old Backups

While data loss is your primary concern, you can use old copies
of your company’s financial data for other reasons.

■ Print a report from a previous year.

■ Check details that you cleared.

■ Restore files that are accidentally deleted.

■ For internal control. You can see if someone else alters your
files after the fact.

■ Easily move your company data from one location to

another.

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Part 3: Company Maintenance

Restoring a Backup
You need to restore a backup if your company’s data is lost or
damaged. You may also want to restore your files so that you
can check information from a previous year. In any case, make
sure to restore your backup files under a different name. You do
not want to overwrite your current company data as you may
need to restore past backups.

1. In the Home window on the File menu, choose Restore.

2. Follow the instructions in the wizard. Make sure to restore

the file under a different name. If you use the same name,
you will overwrite your current data.

Saving a Copy of Your Data as You Work

To save a quick copy of your company data to your hard drive
while you work on the company, you can use Save As or Save A
Copy from the File menu in the Home window. You are then
prompted to choose where to save the data and what name to
give it.

Unlike the Backup feature, you do not need to restore the data to
open the saved company. You cannot use Save As or Save A
Copy to store data on diskettes or CD.

The Save As feature saves a copy of your current company data,

but then opens your saved company. For example, when you
save Company 1 as Company 2, Simply Accounting opens
Company 2 after the copy is made.

The Save a Copy feature saves a copy of your current company

data, and keeps the current company open. For example, when
you save Company 1 as Company 2, Simply Accounting opens
Company 1 after the copy is made.

If you are using Simply Accounting Pro or higher, you can use
the Backup, Save As, and Save A Copy features only when in
single-user mode.

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Chapter 19: Protecting Your Data

Troubleshooting
Do you have the If something isn’t working as expected, visit the Simply
latest version? Accounting Web site at www.simplyaccounting.com, and
download the latest service pack for this version of Simply
Accounting. If you do not have Internet access, call Customer
Service and have them send you a disk.

Starting Simply Accounting

I get an error message when trying to convert my old data.

■ Turn off your anti-virus software, and try the conversion

again.

Dimmed Options
The option that I want to use is dimmed.

■ Close all windows other than the Home window.

■ If you are using Simply Accounting Pro or higher, switch to

single-user mode. In the Home window on the File menu,
choose Switch To Single-user Mode.

Printing
I can’t print properly.

■ Try printing another report using different settings:

− Make sure that the proper paper size is selected.

■ In the Home window on the Setup menu, choose Reports

And Forms, and try the following:

− Set the report’s margins to zero.

− Click the Default button in the Report Sections.

■ Visit your printer manufacturer’s Web site to download and

install the latest printer driver.

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Part 3: Company Maintenance

Simply Accounting crashes when I try to print.

■ Rename the Simply.ini file, found in the Windows folder, to

Simply.ini.BAK and try again.

The custom Crystal Reports print in 300 dpi, even though my

printer is capable of printing at a finer resolution.

■ Make sure that your printer settings have been set to print
higher than 300 dpi. Refer to your printer manual for more
information.

■ Open the report in Crystal Reports, and choose Printer Setup

from the File menu. Check the Default Properties box, and
click OK.

Adding Vendors and Customers

I can’t fill in the year-to-date purchases or last year’s
information.

■ Once you have finished entering history, you cannot fill in

this information. For more information on history, see
Chapter 11, “Adding Historical Information.”

Paying Employees
The employee that I want to pay doesn’t appear on the list.

■ You may have set the employee’s status to inactive. For

information on inactive records, refer to “Keeping Inactive
Parts of your Business Out of the Way” in Chapter 23.

Simply Accounting won’t let me enter Quebec tips for an

employee.

■ The tax table for an employee must be set to Quebec. Refer

to “Adding Taxes and Deductions for an Employee” in
Chapter 15.

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Chapter 19: Protecting Your Data

Customizing Reports
When I click the Customize button, Simply Accounting says
that I cannot edit the report because Crystal Reports has
not been installed.

■ If you have not installed Crystal Reports, insert the Crystal

Reports CD into your drive. This CD is included with
Simply Accounting Premium or higher.

■ If you have installed Crystal Reports and you still see this
error message, open Windows Explorer, find the folder that
contains the report you want to customize, and double-click
the file. Doing this resets a registry entry that Simply
Accounting requires in order to find Crystal Reports.

Graphing
When I open a bar graph, all of the bars on the graph are
quite short, leaving a lot of open space.

■ Delete any files with the extension .CH# (where # is a

number or letter) in the folder where your company’s data is
located. This will reset the graph settings.

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Chapter 20
Daily and Monthly

These tasks, such as reconciling your bank statements and adjusting inventory
levels, are done on a regular basis.

Enhancing Database Performance ...................................................20–1

Maintaining Records ...............................................................20–1
Restrictions to Changing Records................................................20–1
Changing Records .............................................................20–2
Restrictions to Removing Records ...............................................20–2
Removing Records .............................................................20–5
Automatically Updating Personal Tax Credits Subject to Indexing ..................20–5
Receiving Money from Credit-Card Sales ............................................20–6
Reconciling Statements from a Bank or Credit-Card Company .........................20–8
Automatically Reconciling Using Online Services .................................20–8
Manually Reconciling Your Statement ...........................................20–9
Comparing the Statement to Your Account Records ...........................20–9
Accounting for Interest and Service Charges .................................20–10
Correcting Discrepancies between the Statement and Your
Simply Accounting Data ...............................................20–11
What To Do with an Unresolved Amount ...................................20–12
Adjusting Inventory Levels ........................................................20–13
Correcting Inventory Adjustments .............................................20–14
Checking Your Budget ............................................................20–15
Getting the Facts ..............................................................20–15
Using Graphs ................................................................20–15
Quickly Updating Your Budget ................................................20–16
Daily and Monthly Checklists .....................................................20–16
At the End of the Day .........................................................20–17
At the End of the Month .......................................................20–17
At the End of the Quarter ......................................................20–18

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Chapter 20: Daily and Monthly

Enhancing Database Performance

When you change or remove records, your data can become
fragmented. You can save disk space and enhance performance
by compacting the database periodically (such as at the end of
the week or the month).

Before compacting the database, you should back up your data.

For more information on backing up, see “Backing Up Your
Data” in Chapter 19.

To compact the database:

1. In the Home window on the Maintenance menu, choose

Database Utilities and then Compact Database.

2. Click Yes.

Maintaining Records
Addresses change, prices rise and fall, and employees receive
raises. Simply Accounting allows you to easily change or remove
most information stored in your company data.

Restrictions to Changing Records

Once you have finished entering history, as described in
Chapter 11, “Adding Historical Information,” you cannot change
the following information. These amounts change automatically
whenever you enter transactions.

For: You can’t change:

Vendors Year-to-date and last year’s totals.
Customers Year-to-date and last year’s totals.
Employees Year-to-date and last year’s totals.
Inventory Quantity on hand and total value.

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Part 3: Company Maintenance

Simply Accounting also prevents you from changing certain

account information (except in Simply Accounting Accountants’
Edition):

■ You cannot change an account number once a transaction

has been processed against it and it has a balance. However,
once you clear transaction details, you can change the
number.

■ If you change the number of a linked account that has no

associated transactions, the new number must be within the
same section of the chart of accounts (for example, asset
accounts must be within the 1000 to 1999 range).

■ To change a subgroup or group account to a group heading,

subgroup total, or group total, you must delete the account,
then re-enter it with the new account type.

Changing Records
You can change information within a record with certain
exceptions. See the previous section for more information.

Note: If you are changing accounts, you can use the Modify
Accounts wizard to automate this process. From the Setup
menu, choose Wizards, and then Modify Accounts.

1. In the Home window, click the icon for the window in which
you want to change information.

2. Open the record you want to change, and make any changes.

Save 3. Choose Save from the File menu.

4. Print a report for your records. For example, if you changed

a customer, print a Customer List.

Restrictions to Removing Records

If you stop doing business with a vendor, you may want to
remove it from your records. However, Simply Accounting
prevents you from removing information that would affect your
accounting. Refer to the following table for information on when
you can remove records.

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Chapter 20: Daily and Monthly

Note: If you don’t want to remove a record permanently but

don’t need it anymore, you can change its status to Inactive. For
more information, see “Keeping Inactive Parts of your Business
out of the Way” in Chapter 23.

Simply Accounting If you are using Simply Accounting in multi-user mode, you
Pro or higher cannot remove accounts. Log into Simply Accounting as the
administrator in single-user mode to remove accounts.

Before deleting: Be sure:

Accounts ■ The account has a zero balance.
■ The account has no transactions processed against it for this
year or last. If it does, you can make the account inactive
and then remove it after the next year.
■ The account is not used as a linked account.
■ If you are using Simply Accounting Pro or higher and want
to keep financial history for more than two years, you have
made a note of the account name and number.
If you need to delete an account, we recommend that you
renumber it, rename it “Deleted Account,” and check the
Omit From Financial Statements If Balance Is Zero box in
the account record. This will maintain the relationship
between past and current charts of accounts and ensure that
the multi-period reports balance.

■ If you file your tax return electronically, do not remove

Group or Subgroup Total accounts. They balance the GIFI
report, as required by the Canada Revenue Agency

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Part 3: Company Maintenance

Before deleting: Be sure:

Vendors and ■ The account has a zero balance.
Customers ■ All transactions have been cleared. For more information on
clearing data, see “Clearing Old Information from Simply
Accounting” in Chapter 23.
■ There are no outstanding orders or quotes.
■ For vendors, you have printed the T5018 slips for the
end of the reporting period.
■ For vendors, you have printed the 1099 Miscellaneous
Income forms at the end of the calendar year.
■ For payroll authorities, the authority is not mapped to any
payroll liability accounts.
Employees ■ The employee has repaid any advances.
■ You have printed the Employee Summary and Detail
reports at the end of the calendar year.
■ You have paid the employee’s entitlements.
■ You have paid the employee’s vacation pay.
■ You have printed a T4 slip and a Relevé 1 slip (Quebec
only) for the employee.
■ You have printed the T4 Summary form and Relevé 1
Summary (Quebec only) at the end of the calendar year.
■ You have printed the W-2 forms, and the 940 and
941 Summaries at the end of the calendar year.
Inventory and Service ■ The quantity on hand is zero (this does not apply to
Items services).
■ You have no outstanding purchase or sales orders for the
item.
■ All transactions that refer to this item have been cleared.
For more information on clearing data, see “Clearing Old
Information from Simply Accounting” in Chapter 23.

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Chapter 20: Daily and Monthly

Before deleting: Be sure:

Projects ■ You have printed all reports that contain information about
the project:
− All Project reports.

− Transaction detail reports for Miscellaneous

Transactions, Purchases, Sales, Payroll, and
Adjustments.

Note: Any transactions allocated to the removed project are

listed as allocated to “Unknown Project” on reports.

Removing Records
Removing records is not the same as clearing data. Removing a
record clears very little disk space and memory. For more
information on clearing data, see “Clearing Old Information
from Simply Accounting” in Chapter 23.

Note: If you are removing accounts, you can use the Modify
Accounts wizard to simplify this process. From the Setup menu,
choose Wizards, and then Modify Accounts.

1. Print a report for your records. For example, if you removed

a customer, print a Customer List.

2. In the Home window, click the icon for the window in which
you want to remove a record.

3. Open the record you want to remove.

Remove 4. Choose Remove from the File menu.

Automatically Updating Personal Tax Credits Subject to

Indexing
Simply Accounting allows you to automatically update the
personal tax credit amounts that are subject to indexing for your
employees. You can update all of your employee records at once.

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Part 3: Company Maintenance

Note: This feature will update only the Federal and Provincial
Claim Subject To Indexing fields whose balance is not zero.

1. In the Home window on the Maintenance menu, choose

Update Employee Claims.

2. Check a box and enter either a factor or amount for the

federal and provincial claims that you want to increase or
decrease, as indicated by the government.

Use these fields to update

employee federal claims.

Use these fields to update

employee provincial claims.

3. Click OK.

Receiving Money from Credit-Card Sales

Once you receive a merchant statement for a credit card, you
need to record the amount that the bank or credit-card company
transferred to you.

1. In the Home window on the General tab, choose the

Miscellaneous Transactions icon.

2. In the Source field, type the merchant statement’s number.

3. On the first line in the Account field, select the account into
which the bank or credit-card company deposited what it
owed you. Then, in the Debits field, enter the amount on the
statement.

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Chapter 20: Daily and Monthly

4. On the next line in the Account field, select the credit card
“receivable” account. Then, in the Credits field, enter the
amount deposited into your bank account, as indicated on
the statement.

5. If you have not set up Simply Accounting to automatically

deduct credit-card charges, on the next line in the Account
field, select the credit-card expense account for service
charges. Then, in the Debits field, enter the service charge
amount from the statement.

For information on setting up credit cards, see Chapter 4,

“Making and Accepting Credit-Card Payments.”

6. Fill in the remaining parts of the form:

This option appears if you

have set up another currency.

This line is only necessary if

you have not set up Simply
Accounting to automatically
deduct credit-card charges.

These two values must be

equal.

7. Click Process.

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Part 3: Company Maintenance

Reconciling Statements from a Bank or

Credit-Card Company
When you receive statements from your bank for your bank or
credit card account, you should always match each transaction
on your statement with the corresponding transaction in Simply
Accounting to check for errors.

Simply Accounting automates this process for all accounts that

you have set up for reconciliation. See “Set Up Accounts for
Reconciliation” in Chapter 2.

Automatically Reconciling Using Online Services

If your bank offers online services, you can import your
statement directly into Simply Accounting. Then, the program
reconciles most of the statement automatically. All that remains
for you to do is to correct any discrepancies.

Note: The institution must support the Open Financial

Exchange (OFX) data format. Contact your bank for more
information.

Before importing transactions, you must set the bank or credit-

card account to accept imported transactions. Open the account,
click the Class Options tab, and check the Use This Account For
Online Banking box.

1. Depending on which window you have open in Simply

Accounting, do one of the following to import an online
statement:

■ In the Home window on the File menu, choose

Import/Export and then Import Online Statements.

Import Online ■ In the Reconciliation and Deposits window, choose

Statements Account Reconciliation in the Transaction field. Select
the account you wish to reconcile, then choose Import
Online Statements from the Reconciliation menu.

2. Follow the instructions in the wizard. When complete, a

report summarizes the imported transactions and their
reconciliation status.

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Chapter 20: Daily and Monthly

Print 3. From the File menu, choose Print. You will need this report
later. Once you have printed the report, close the window.

4. In the Home window on the General tab, choose the

Reconciliation and Deposits or Account Reconciliation icon.

5. Select Account Reconciliation in the Transaction field.

6. Select the bank account for which you have imported the
statement.

7. You will need to account for any discrepancies, such as

interest and service charges. Go to “Accounting for Interest
and Service Charges,” later in this chapter.

Manually Reconciling Your Statement

Reconciliation is a three-step process:

‰ Compare the bank or credit card statement to account

records.

‰ Enter interest, service charges, and other miscellaneous

items.

‰ Correct any discrepancies between the statement and your

Simply Accounting data.

Note: If you have imported your transactions from the bank’s

Web site, you can skip to “Accounting for Interest and Service
Charges,” later in this chapter.

Comparing the Statement to Your Account Records

† Compare 1. In the Home window on the General tab, choose the

transactions Reconciliation and Deposits or Account Reconciliation icon.
† Enter interest and
service charges 2. Select Account Reconciliation in the Transaction field.
† Fix discrepancies
3. Select the account you want to reconcile, and enter the
statement end date and the date of reconciliation.

4. In the End Balance field, enter the closing balance that

appears on your statement. You can also add a comment.

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Part 3: Company Maintenance

5. On the Transactions tab, choose an order in which to view

the transactions and compare each transaction on your
statement with the list of transactions on the screen.

6. Click in the Cleared column for each transaction that you

match. A check mark appears, and the status changes to
Cleared.

7. Click in the Cleared column for each transaction that was an

adjustment or correction.

This date is usually the

same as the End Date.

You can choose to show

deposit slip details or to
filter the corrections you
have made to items.

Simply Accounting
automatically displays the
deposit number of cheques
and cash you deposited
into the account.
If you have correctly
reconciled your account,
this amount will be zero.

8. After you finish comparing transactions, continue with the

steps in the next section.

Accounting for Interest and Service Charges

5 Compare The Income and Expense tabs on the Reconciliation and Deposits
transactions window allow you to account for interest, service charges, and
† Enter interest and other income or expenses that appear on your statement.
service charges
† Fix discrepancies When you enter income and expenses, all of the related accounts
are updated.

1. On the income tab, a type of income, or change the name,

and enter the source, department, comment, account,
amount, and a comment, if needed.

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Chapter 20: Daily and Monthly

You set up these income

types when setting up this
account for reconciliation.

The account in which this

amount will be recorded.

2. On the Expense tab, enter any expenses such as service

charges in the same way.

3. If the unresolved amount is zero, click Process to complete

the reconciliation. Otherwise, continue to the next section.

Correcting Discrepancies between the Statement and Your Simply Accounting

Data

5 Compare If the reconciliation reveals errors on your statement, either you

transactions or the bank is at fault. If the error is yours, you will need to add
5 Enter interest and missing transactions in Simply Accounting or correct existing
service charges
ones.
† Fix discrepancies
■ You will need to make adjustments to existing transactions if,
for example:

− The bank withdrew or deposited the wrong amount.

− The bank didn’t deposit a cheque because it bounced.

− You processed a cheque that you had voided.

■ You will need to add transactions if the statement shows, for

example:

− You did not enter a cheque that you deposited.

− You printed a cheque without processing the transaction.

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Part 3: Company Maintenance

Bring Home 1. In the Reconciliation and Deposits window, choose Bring

Window to Home Window To Front from the toolbar or View menu.
Front
2. Make the necessary additions or corrections using the Simply
Accounting transaction windows.

3. Once you have finished all of your corrections, return to the

Reconciliation and Deposits window. Any transactions that
you have added or corrected appear automatically.

Note: If you have put a check mark in the Do Not Show

Corrections box, you will not see the original and adjusting
transactions.

4. Put a checkmark in the Do Not Show Corrections box. When

you clear the corrected entry, Simply Accounting will
automatically clear the original and adjusting entries.

5. Clear any transactions that you have added.

6. If the unresolved amount is equal to zero, click Process to

complete the reconciliation. Otherwise, see the next section.

What To Do with an Unresolved Amount

If, after following the above steps, you still can’t get the
unresolved amount to equal zero, you should do the following:

1. Print the Transactions By Account report for the month of

the reconciliation:

a) In the Home window on the Reports menu, choose

Financials, and then Transactions By Account.

b) Type a start date that is a few weeks before the earliest

transaction on your statement. For the end date, type the
statement’s date.

c) Click the Select All button, and then click OK.

d) From the File menu, choose Print.

2. Next, complete the following checks:

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Chapter 20: Daily and Monthly

■ Make sure the amounts on your source documents —

such as cancelled cheques, cheque stubs, and so on —
match the amounts on the bank statement. Then match
these to the transactions on the report that you just
printed.

■ Make sure that you did not receive someone else’s

source documents, and that you received all of yours.

■ Make sure you entered the correct closing bank balance

from the bank statement.

■ Make sure you have adjusted everything that needed to

be adjusted.

■ Make sure every item on the bank or credit-card

statement has been accounted for.

■ Make sure the status of each transaction is correct in the

Reconciliation and Deposits window.

■ If the difference is divisible by nine, look for a

transposition error in your work or on the statement. For
example, you might have typed 87 instead of 78.

3. If you still cannot find the unresolved amount, you can still
process the reconciliation, though if the amount is more than
a few dollars, we strongly discourage this.

The unresolved amount will appear in the Reconciliation

and Deposits Adjustments account.

Adjusting Inventory Levels

Inventory items can break, spoil, or be stolen. Or you could
receive additional stock, such as a free shipment. For this reason,
you may need to change your inventory records to match actual
quantities.

1. In the Home window on the Inventory and Services tab,

choose the Inventory Adjustments icon.

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Part 3: Company Maintenance

2. Enter a number in the source field.

3. Select the item and enter the quantity of inventory that you
are adjusting. If you are decreasing stock, type a negative
number. If you are increasing stock, type a positive number.

The unit cost is calculated

based on the average
purchase price. Enter a value
in the Amount field if you
need to change it.

If you have set up a linked

account for write-offs, it
appears automatically.
Otherwise, you must select
the account you use for
write-offs.

3. Fill in the remaining parts of the screen, and click Process.

Note: If you are writing off inventory from a customer

return, let Simply Accounting calculate the unit cost and
amount. Do not enter the selling price in the Amount field.

Correcting Inventory Adjustments

If you have processed an incorrect adjustment, you need to make
an entry to reverse the error.

1. In the Home window on the Inventory and Services tab,

choose the Inventory Adjustments icon.

2. Fill in the first part of the screen. For the source number, you
may want to use the original transaction number followed
by the letters COR (for correction).

3. Enter the inventory item number with the same quantity as

the incorrect transaction but with the opposite sign. For
instance, if the original entry was -15, then type 15.

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Chapter 20: Daily and Monthly

4. Ensure that the account displayed is the same as on the

incorrect transaction. If the original transaction included
allocations, be sure to enter those as well.

5. Fill in the remaining parts of the screen, and click Process.

Checking Your Budget

Ensure that your company is meeting or exceeding its budget
goals by analyzing various reports and graphs.

For more information on setting up budgets, see Chapter 6,

“Setting Up a Budget.”

Getting the Facts

Two reports help you compare budget numbers to what your
company is actually making: the Project Budget report and a
comparative income statement.

Project Budget report. Allows you to compare actual revenues

and expenses for one or more projects to the original budget.

■ In the Home window on the Reports menu, choose Project,

and then Budget. Select Actual Versus Budget.

Comparative Income Statement. Allows you to compare

actual versus budgeted revenue, expenses, and net income for
the specified period.

■ In the Home window on the Reports menu, choose

Financials, and then Income Statement. In the Report Type
field, make sure to select a report that compares actual
figures to budgeted ones.

Using Graphs
You may want to print graphs to include in a presentation on the
company’s budget. You can also copy a graph into a bitmap file
and then paste it into your presentation. For more information
on graphs, see Chapter 27, “Using Graphs.”

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Sales versus Budget graph. Shows actual and budgeted sales

for all selected revenue accounts for each month in the current or
previous fiscal year.

■ In the Home window on the Graphs menu, choose Sales

Versus Budget.

Expenses versus Budget graph. Shows actual and budgeted

expenses for all selected accounts for each month in the current
or previous fiscal year.

■ In the Home window on the Graphs menu, choose Expenses

Versus Budget.

Quickly Updating Your Budget

At any time, you can change your budget expectations for a
particular account or project. However, sometimes you may
want to increase or decrease your entire budget by a certain
percentage. For example, you may want to account for inflation.

1. In the Home window on the Maintenance menu, choose

Update Budget Amounts.

2. Enter the percentages by which you want to increase or

decrease the budget, and click Update.

Daily and Monthly Checklists

It helps to have a daily and monthly routine to make sure that
your company runs smoothly. This makes your accounting less
onerous, as the tasks that you need to complete don’t pile up.

The following lists are only recommendations, and you may

want to add or remove tasks. You’ll also find these tasks in the
built-in checklists, which you can change according to your
needs. For more information on these checklists, see “Using
Checklists” in Chapter 22.

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Chapter 20: Daily and Monthly

At the End of the Day

‰ Enter a bank deposit. If you use Simply Accounting to
reconcile your accounts and have made a bank deposit, you
may want to enter your deposit slip information in the
Reconciliation and Deposits window. For more information,
see “Entering a Daily Bank Deposit” in Chapter 16.

‰ Check data integrity and back up your data. For more

information, see Chapter 19, “Protecting Your Data.”

‰ Print a list of the day’s transactions. In the Home window

on the Reports menu, choose Transaction Details, and then
All.

‰ Print a list of changes to all records. In the Home window

on the Reports menu, choose List and then the module for
which you have made changes.

At the End of the Month

‰ Check your budget. If you work with monthly budgets,
you should check to see that your actual figures match the
budgeted ones. For more information, see “Checking Your
Budget,” earlier in this chapter.

‰ Reconcile your bank and credit-card statements. You

may wish to reconcile your accounts at the end of the month
as opposed to when you receive your statement. For more
information, see “Reconciling Statements from a Bank or
Credit-Card Company,” earlier in this chapter.

‰ Check data integrity and back up your data. For more

information, see Chapter 19, “Protecting Your Data.”

‰ Compact the database. For more information, see

“Enhancing Database Performance,” earlier in this chapter.

‰ Print monthly reports. Make sure to print these reports

before adding entries in the next month. For a list of reports
to print, see “Printing Audit Trail Reports” in Chapter 21.

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Part 3: Company Maintenance

At the End of the Quarter

When you enter a session date for a new quarter, Simply
Accounting zeroes the current quarter’s payroll earnings,
deductions, and expenses (although it keeps the cumulative
year-to-date information) so that it can begin to accumulate the
new quarter’s information.

‰ Check data integrity and back up your data. For more

information, see Chapter 19, “Protecting Your Data.”

‰ Print payroll reports. Print all the reports described in

“Printing Audit Trail Reports” in Chapter 21.

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Chapter 21
End of Year and Tax Period

The year can end at the end of the calendar year, tax period and fiscal year. You
must complete certain tasks at the end of each. To complete your year-end tasks
quickly, use Simply Accounting to electronically file some government forms.

End of a Provincial or State Tax Period ..............................................21–1

End of a GST, HST, or QST Period...................................................21–1
Printing Reports at the End of a Tax Period .......................................21–1
Adjusting the Sales Tax Reports .................................................21–2
Backing Up Your Data Before Filling Out the Sales Tax Return .....................21–3
Filling Out the Sales Tax Return .................................................21–3
GST/HST Return ..........................................................21–3
QST Return ................................................................21–4
Paying the Government What You Owe or Receiving a Refund.....................21–4
Paying the Government ....................................................21–5
Receiving a Refund from the Government ....................................21–6
End of a Contract Payment Reporting Period .........................................21–7
End of a Calendar Year.............................................................21–8
End of a Fiscal Year ................................................................21–8
Checking Your Data and Backing It Up ..........................................21–9
Reconciling the Statements for Your Bank and Credit-Card Accounts ...............21–9
Exporting GIFI Data ..........................................................21–10
Printing Year-End Reports .....................................................21–10
Adjusting Entries in the Previous Year ..........................................21–11
Creating a Copy of Your Data to Send to Your Accountant ....................21–11
Cancelling an Accountant’s Copy ...........................................21–13
Importing Entries From Your Accountant ...................................21–13
Printing Audit Trail Reports .......................................................21–13
Electronic Filing ..................................................................21–15
Before You Start ..............................................................21–15
Filing Original T4 Slips ........................................................21–18
Filing Amended T4 Slips ......................................................21–22
Filing Relevé 1 Slips ..........................................................21–22

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Chapter 21: End of Year and Tax Period

End of a Provincial or State Tax Period

The number of times per year that you pay your provincial or
state government taxes varies by jurisdiction. Contact the
government department to which you remit taxes if you need
more information.

The account in which you record tax payments varies according

to the situation. You should ask your accountant for information
on how to record provincial or state taxes.

At the end of the tax period, print a Tax report to see the
information you need to report.

End of a GST, HST, or QST Period

You must report GST, HST, or QST at the end of a month,
quarter, or year. Contact the Canada Revenue Agency or the
Ministère du Revenu du Québec to find out the length of your
reporting period.

When the tax period ends, you need to complete the following:

‰ Print a balance sheet and the Tax report in detail and

summary form for the last day of the tax period.

‰ Make manual adjustments to the tax report.

‰ Back up your company’s data.

‰ Fill out the sales tax return.

‰ Pay the government what you owe, or receive a refund.

Printing Reports at the End of a Tax Period

You should print the following reports for your records before
filling out your tax return:

■ In the Home window on the Reports menu, choose

Financials, and then Balance Sheet.

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■ In the Home window on the Reports menu, choose Tax, then

select the taxes to report. Make sure to print two copies of
each report: one as a summary and one with details.

Adjusting the Sales Tax Reports

The sales tax reports for Simply Accounting may not include all
sales taxes that you have collected. For example, employee
income that includes GST, HST, or QST-taxable benefits is not
included. You may need to add these amounts to your sales tax
report.

Using the reports that you just printed, compare the GST, HST,
or QST amounts on your summary tax report to the GST, HST,
or QST account total on the balance sheet.

Note: Ignore the negative sign when you are comparing the
numbers.

If the two totals are not the same, you must adjust the totals on
the summary report, as follows:

1. On the summary report, cross out the totals for the tax paid
and charged. Write down the totals from the balance sheet
(as positive numbers).

Next, you need to calculate the taxable purchases and sales.

2. In the Home window on the Reports menu, choose

Financials and then Transactions By Account.

3. Select the GST Paid On Purchases, HST Paid On Purchases,

or Refundable QST Paid account. Select the beginning and
ending dates for the tax period, and click OK. Print the
report.

4. Check to make sure that all the transactions on this report

appear on the detailed tax report that you printed earlier.
Mark the entries that don’t appear on the detailed tax report.

5. Using those marked transactions, determine what your

actual GST paid on purchases should be.

6. Repeat steps 2 through 5, calculating GST charged on sales

instead of purchases.

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Chapter 21: End of Year and Tax Period

Backing Up Your Data Before Filling Out the Sales Tax Return
Before completing the tax return, you should back up your data.
Label this backup to indicate that you are passing from one tax
period to another. For more information on backing up, see
“Backing up Your Company’s Information” in Chapter 19.

You can use this backup if you need to look up information

specific to this tax period.

Filling Out the Sales Tax Return

Once you have the correct amounts on the summary tax report,
you can fill out the sales tax return. You will need the corrected
summary tax report as well as your balance sheet, both of which
you printed earlier in this process.

The information you require depends on whether you are filling

out a GST/HST or QST return.

GST/HST Return

Using the corrected Tax report for GST/HST, copy the following
information to your sales tax return.

Copy this total: To this section:

Taxable Sales Excluding Taxes Total Taxable Supplies

Then, from the balance sheet, copy the following to the sales tax
return.

Protecting
Your Data

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Copy this total: To this section:

GST/HST Charged On Sales GST Collectible
and GST/HST Payroll
Deductions (if any)
GST/HST Adjustments GST/HST Adjustments
GST/HST Paid On Purchases Input Tax Credit
ITC Adjustments ITC Adjustments

QST Return

Using the corrected Tax report for QST, copy the following to the
sales tax return.

Copy this total: To this section:

Taxable Sales Excluding Taxes Total Supplies

Then, from your balance sheet, copy the following to the sales
tax return.

Copy this total: To this section:

QST Charged and QST QST Collectible and
Adjustments Deductions (if Adjustments
any)
Refundable QST Paid and ITR ITRs and Adjustments
Adjustments

Paying the Government What You Owe or Receiving a Refund

If you owe the government money, you must not only issue a
cheque to the government, but also clear the tax accounts. If you
are eligible for a refund, once you receive money from the
government, you must also enter a receipt into Simply
Accounting that clears the tax accounts, as described below.

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Chapter 21: End of Year and Tax Period

Paying the Government

1. If this is your first sales tax payment, you must add a vendor
record for either the Receiver General of Canada or the
Ministère du Revenu du Québec. Since you will be remitting
payments to these government agencies for payroll
liabilities, in the vendor record, check the payroll authority
box, and be sure to set the Tax Exempt field to Yes on the
Taxes tab. For more information on adding vendors, see
“Adding Vendors” in Chapter 12.

Note: You must not write a cheque to a one-time vendor

under the government body’s name. If you do, your tax
reports will be inaccurate for the next period.

2. In the Home window on the Vendors and Purchases tab,

choose the Purchases, Orders, and Quotes icon or the
Invoices icon.

3. In the Transaction field, choose Invoice. If you are going to

issue a cheque immediately, select Cheque in the Paid By
field. Otherwise, select Pay Later.

4. Select the “vendor” (the government department), and for

the invoice number, enter the payment information, such as
Q3 GST (for a third-quarter GST payment).

5. On the first line of the invoice, in the Description field, type

GST charged on sales or QST charged on sales. Type the
amount as found on the summary tax report, and then
double-click the Account field and select either GST Charged
On Sales or QST Charged at Rate 1.

6. On the next line, repeat step 5 using GST Paid On Purchases

or Refundable QST Paid. Enter the amount as a negative
number.

7. If you have used other sales tax accounts, such as QST

Charged at Rate 2, any tax adjustment accounts, or a sales
tax payroll-deduction account, enter the amounts from the
summary tax report and select the corresponding account.

The invoice total should equal the amount that you owe the
government.
Protecting
Your Data

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Print 8. If you are issuing a cheque, choose Print from the File menu.

9. Click Process.

If you are issuing the cheque later, do so in the Payments

window. Select the tax authority, and then make the payment as
you normally would for any other invoice. For more information
on paying invoices, see “Paying for Goods and Services” in
Chapter 12.

Receiving a Refund from the Government

1. If this is your first sales tax refund, you must add a customer
record for either the Receiver General of Canada or the
Ministère du Revenu du Québec. You must set the Tax
Exempt field to Yes on the Taxes tab for this “customer.” For
more information on adding customers, see “Adding
Customers” in Chapter 13.

Note: You must not accept a payment from a one-time

customer under the government body’s name. If you do,
your tax reports will be inaccurate for the next period.

2. In the Home window on the Customers and Sales tab,

choose the Sales, Orders, and Quotes icon or the Invoices
icon.

3. In the Transaction field, choose Invoice. In the Paid By field,

select Pay Later. (If you have already received the refund,
select Cheque).

4. Select the tax authority, and for the invoice number, enter
the refund information, such as Q3 GST (for a third-quarter
GST refund).

5. On the first line of the invoice, in the Description field, type

GST paid on purchases or Refundable QST paid. Type the
amount as found on the summary tax report, and then
double-click the Account field and select either GST Paid On
Purchases or Refundable QST Paid.

6. On the next line, repeat step 5 using GST Charged On Sales

or QST Charged On Sales. Enter the amount as a negative
number.

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Chapter 21: End of Year and Tax Period

7. If you have used other sales tax accounts, such as QST

Charged At Rate 2, any tax adjustment accounts, or a sales
tax payroll-deduction account, enter the amounts from the
summary tax report and select the corresponding account.
Make sure the discount rate is set to zero.

The invoice total should equal the amount the government

owes you.

8. Click Process.

If you will receive the refund later, use the Receipts window to
record receipt of the payment when it arrives. Select the tax
authority, and then enter the receipt as you normally would for
any invoice. For more information on receiving a cheque for an
invoice, see “Receiving Payment for Goods and Services” in
Chapter 13.

End of a Contract Payment Reporting Period

In Canada, if your company’s primary activity is construction,
you must file a T5018 form to report amounts paid to
subcontractors for construction services. You can use Simply
Accounting to print the information needed for this form.

You must file the report within six months of the end of your
reporting period, which can be a calendar year or a fiscal year.
For more information about the T5018 form, contact the Canada
Revenue Agency.

To print T5018 forms:

1. In the vendor record, in the Tax ID field, enter the

subcontractor’s Business Number or Social Insurance
Number. Simply Accounting will print this number on the
T5018 form.

2. In the Home window on the Reports menu, choose Vendors

and Purchases, then Print T5018 Slips.

3. Select the vendors and the year you want.

Protecting
Your Data

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4. Select T5018 Summary, T5018 Statements, or both. You must

submit both when you file your report with the Canada
Revenue Agency.

End of a Calendar Year

Moving from an old calendar year to a new one (from
December 31 to January 1) affects only payroll. Simply
Accounting moves all amounts from the current year to the
previous year except for pay advances and vacation time. These
amounts represent continuing assets and liabilities. However, if
your fiscal year coincides with a calendar year, be sure to read
the next section for important information about fiscal year-end.

Before you begin a new calendar year, you should do the

following:

‰ Check your data’s integrity and back up your data. See

Chapter 19, “Protecting Your Data.”

‰ Print your payroll reports. See “Printing Audit Trail

Reports,” at the end of this chapter, for more information.

In Canada, you may also need to update the personal tax credit
amounts that are subject to indexing for your employees. See
“Automatically Updating Personal Tax Credits Subject to
Indexing” in Chapter 20.

End of a Fiscal Year

The end of the fiscal year may or may not occur at the same time
as the end of the calendar year. It depends on how you have set
up your business.

Nonetheless, the end of the fiscal year is a critical time for your
business and its financial statements.

Before you move into a new fiscal year, you should do the
following:

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Chapter 21: End of Year and Tax Period

‰ Check data integrity and back up your data.

‰ Reconcile the statements for your bank and credit-card

accounts.

‰ If filing taxes electronically, export GIFI data.

‰ Print year-end and budget reports.

‰ Make year-end adjustments as recommended by your

accountant.

Simply Accounting automatically enters the balances from all

revenue and expense accounts into the Retained Earnings
account for the new year. It also accumulates balance-forward
amounts for projects and moves these balances to the Project
report.

Checking Your Data and Backing It Up

You should never start a new fiscal year with damaged or
incorrect data, so make sure to check your data’s integrity before
proceeding. See “Checking Data Integrity” in Chapter 19.

Once you have ensured that your data is intact, you should back
it up. This way, you can be sure that you have a copy of the old
year’s data in case you need to look something up or restore
your data. See “Backing up Your Company’s Information” in
Chapter 19.

Reconciling the Statements for Your Bank and Credit-Card Accounts

Usually, you reconcile your accounts when your statements
arrive; however, if you have fallen behind on your reconciliation,
you should reconcile all of your statements before moving to the
new year.

Reconciling your accounts will help to catch any errors.

See “Reconciling Statements from a Bank or Credit-Card

Company” in Chapter 20.
Protecting
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Part 3: Company Maintenance

Exporting GIFI Data

If you file your corporate tax returns (T2) electronically, you
must use the General Index of Financial Information (GIFI) codes
that correspond to your chart of accounts. You can use Simply
Accounting to export these codes and other information to a file
that can be used when you submit your tax return.

Two files are created when you export. The first is the GIFI
export file, GIFInnnn.GFI, where nnnn is the fiscal year you are
reporting. The second is the GIFI chart of accounts file,
GIFICHRT.CSV, which contains a list of your accounts, GIFI
codes, and account balances. Simply Accounting uses this
second file to create the GIFI file.

You only need the GIFInnnn.GFI file, which contains the

information required by your corporation income tax return
software.

1. In the Home window on the File menu, choose

Import/Export. Select Electronic Filing, and then Export
GIFI.

2. Select the year for which you want to export, and click OK.

3. Save the GIFI file to any location. You can then copy that file
to a floppy disk so that you can send it to the Canada
Revenue Agency. You should also keep a copy of the file for
your records.

Printing Year-End Reports

You should print and store the year-end reports for your
records. These reports will provide an audit trail for your
accountant.

See “Printing Audit Trail Reports,” at the end of this chapter, for
a list of reports that you should print.

If you have a consolidated company, there are specific

consolidated company reports you can print on a monthly,
quarterly, or yearly basis, depending on your company’s
reporting requirements. For more information about generating

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consolidated company reports, refer to the section, “Working

with a Consolidated Company,” in Chapter 24.

Adjusting Entries in the Previous Year

There are two reasons why you might need to enter transactions
in the previous year. First, you might find an error in an old
transaction that must be fixed. Second, your accountant may
send you a set of “adjusting entries” that will allow you to more
accurately report your financial position. You might receive
these entries well into the new year.

For more information on period-end adjustments, see Chapter 11

in the Accounting Manual.

Any transactions that you must enter as adjustments occur in the

previous year. Because you cannot start Simply Accounting with
a session date in the previous year, you must ensure that Simply
Accounting is set to allow you to enter transactions in the
previous year:

1. In the Home window on the Setup menu, choose System

Settings and then Settings.

2. Click Company and then System, and enter a new date from
the previous year in the field next to Do Not Allow
Transactions Before.

3. Click OK.

4. Make the adjusting entries (dated in the previous year).

Creating a Copy of Your Data to Send to Your Accountant

If your accountant is using the Accountant’s Edition of Simply

Accounting, you can create an electronic copy of your Simply
Accounting data and give it to your accountant to make the
adjustments.

You can continue to work with your original company data

while your accountant makes the adjusting entries.

When your accountant finishes working with the copy, they will
send you a file that you import into Simply Accounting. For
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more information about importing data from your accountant,

see “Importing Entries From Your Accountant” later in this
section.

While your accountant has a copy of your company data, there

are no restrictions on what you can do, but we strongly
recommend that you do not:

■ Delete or renumber any accounts.

■ Delete or rename any projects.

■ Delete or renumber any departments.

■ Delete or renumber any tax codes.

Performing any of the above actions may prevent some of your

accountant's entries from importing into your company data.

If you are running Simply Accounting on a network, you must

be in single-user mode to create an accountant's copy. If you are
in multi-user mode, the Accountant's Copy menu option will be
dimmed. Unless you create a user profile with limited access
rights, your accountant will have view access to the same
information as the sysadmin.

You can only have one accountant's copy at any given time. If
you create another accountant's copy, the existing copy will be
cancelled. If you cancel an accountant's copy that your
accountant is working on, you will not be able to import any
entries made by your accountant using that copy.

1. Back up your company data.

2. In the Home window, in the File menu, choose Accountant's

Copy, and Create Accountant's Copy.

3. Make changes to the file name if you want. For example, you
might want to add the date or the name of your accountant
to the file.

4. If you want to change where the accountant's copy will be

saved, enter the new location or click Browse to choose one.

5. Click OK.

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Cancelling an Accountant’s Copy

Note: If you cancel the current accountant's copy, you will not
be able to import entries made by your accountant for this copy.

1. In the Home window on the File menu, choose Accountant's

Copy, and Cancel Accountant's Copy.

2. Click Yes to confirm that you want to cancel the current

accountant's copy.

Importing Entries From Your Accountant

1. In the Home window on the File menu, choose Accountant's

Copy, and Import Entries From Accountant.

2. Follow the Import Entries from Accountant Wizard. If you

want a list of the entries added to your company data, click
Print in the Import Records Summary dialog.

3. Click Finish to close the wizard.

Printing Audit Trail Reports

Month Calendar Calendar Fiscal
Report End Qtr. End Year End Year End

Income Statement
Month-to-date 9 9
Year-to-date 9 9
Balance Sheet 9 9
Transactions By Account (past month) 9 9
All Transactions (past month) 9 9
Chart of Accounts 9 9
Cheque Log (for purchases and payroll) 9
Direct Deposit Log 9
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Month Calendar Calendar Fiscal

Report End Qtr. End Year End Year End

Vendors and Purchases

Purchase Transaction Details 9 9
Payment Transaction Details 9 9
Vendor Aged (summary and detail) 9 9
Customers and Sales
Sales Transaction Details 9 9
Receipts Transaction Details 9 9
Customer Aged (summary and detail) 9 9
Payroll
Payroll Transaction Details (past month) 9 9 9
Remittance report for the amounts owed At the end of the remittance reporting
to payroll authorities period.
Employee Quarter-to-Date Summary 9
Employee Year-to-Date Summary 9 9
Employee Detail 9 9
T-4 slips and Summary 9
Relevé 1 slips and Summary 9
W-2 Forms 9
SUTA Summary 9 9
940 Summary 9 9
941 Summary 9 9
Inventory and Services
Inventory (Quantity and Synopsis) 9 9
Item Assembly Transactions (past 9 9
month)
Adjustment Transactions (past month) 9 9
Project 9
Tax reports for the taxes you need to report At the end of the tax reporting period.
Account Reconciliation (summary and During and after reconciliation.
detail)

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Electronic Filing
Use Simply Accounting to print your employee T4 and Relevé 1
slips (RL-1), and to electronically file (e-file) these slips via the
Internet or on magnetic media according to government
specifications. Electronic filing speeds processing, so you can
complete year-end tasks quickly.

The Canada Revenue Agency and the Ministere du Revenu du

Quebec require that you file your payroll tax forms and
employee T4 and RL-1 slips by the last day of February (or the
next business day, if the this day falls on a Saturday or Sunday )
of the calendar year following the year to which they pertain.
You must also remit copies of T4 and RL-1 slips to your
employees by this same date.

When you use Simply Accounting to file your T4 slips (either via
the Internet or on magnetic media), you are actually filing your
T4 Information Return. Your return includes your employee
T4 slips, and the related T4 Summary form.

Although Simply Accounting does not submit the Summary of

Source Deductions and Employer Contributions with you RL-1
slip submission, you can print reports to gather the information
you need to prepare and file this form.

Before You Start

Before you print or file T4 and RL-1 slips:

1. Ensure that you have made all required adjustments to

employee paycheques for the payroll calendar year.

2. Ensure that your company’s business number is entered

correctly on the Company Information window.

3. Ensure that employee information is correct and up-to-date.

For example, each employee record must contain the
employee’s first name and surname, a valid social insurance
number, and the province of employment (2-character
province code).

In addition, update the following information on employee

records, if required:
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a) RPP/DPSP Reg. Number. If the employee is part of a

Registered Pension Plan or Deferred Profit Sharing Plan,
enter the plan registration number on the employee
record.

b) Pension Adjustment. Refer to government legislation

to determine whether to report a pension adjustment
amount on the employee T4. Enter only a dollar amount.

c) T4 Employment Code. This code is reported on Box 29

on the T4 slip. Select the appropriate code on the
employee record if one of the following situations
applies. Otherwise, leave the field blank.

■ 11 — Placement Agency (self-employed)

■ 12 — Driver of taxi or other passenger-carrying

vehicle

■ 13 — Barber or hairdresser

■ 14 — Withdrawal from a prescribed salary deferral

arrangement plan.

■ 15 — Seasonal Agricultural Workers Program

■ 16 — Detached employee - social security

agreement.

Refer to your government-supplied documentation for

information on completing T4 slips for employees that
fall into one of the aforementioned employment
categories.

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Chapter 21: End of Year and Tax Period

d) EI Insurable Earnings. EI insurable earnings is a year-

to-date total based on taxable earnings. If you entered
payroll taxes manually when you processed an
employee’s paycheque or paycheque adjustment, then
the calculated EI insurable earnings may differ slightly
from the taxable earnings. Remember to adjust the
calculated amount on the T4 and RL-1 Reporting tab of
the employee record so that the correct amount is
printed on the employee’s T4.

e) Pensionable Earnings. Pensionable earnings is a year-

to-date total based on taxable earnings. If you entered
CPP/QPP manually when you processed an employee’s
paycheque or paycheque adjustment, the calculated
pensionable earnings may differ slightly from the
taxable earnings. Remember to adjust the calculated
amount on the T4 and RL-1 Reporting tab of the
employee record so that the correct amount is printed on
the employee’s T4.

To file T4 slips electronically:

You must be registered for the Canada Revenue Agency's e-file

service. When you register, you will receive one or both of the
following:

■ A Web Access Code (WAC) for Internet filing. This

six-character code (two letters and four numbers) is
pre-printed on the top of the personalized T4 Summary
form you received from the CRA.

If you have not received a WAC, contact the CRA to

confirm your eligibility and to obtain a code for Internet
filing.

■ A magnetic media transmitter number. The number

format is "MM" and six digits (for example, MM999999).

Note: If you did not receive a magnetic media

transmitter number when you registered for the e-file
service and you wish to transmit original or amended
T4 slips on magnetic media, then contact the CRA.
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To file RL-1 slips electronically:

To file electronically, contact the Groupe de promotion de l’EDI

et d’acquisition de données électroniques. You will be assigned
the following:

■ Transmitter number. This number is composed of two

letters (NP) followed by six digits, and identifies you as the
file submitter. If you do not have such a number, contact the
Groupe de promotion de l’EDI et d’acquisition de données
électroniques.

■ User Code and Password. A user code and password to

access the Web site of the Ministère.

■ RL-1 Slip Number. This number will be used to calculate

each employee’s 9-digit E-file slip number.

Filing Original T4 Slips

For the year you select, Simply Accounting will generate T4 slips
and the T4 Summary report to a file in Extensible Markup
Language (XML) format, as required by the Canada Revenue
Agency. You can transfer this file over the Internet if you
generated no more than 499 T4 slips and the file size does not
exceed 610 KB. If you need to submit slips for more than
499 employees, submit the file on magnetic media (diskette or
CD-ROM only).

For information on how to file amended T4 slips, see the next

section entitled, “Filing Amended T4 Slips.”

Note: If your data exceeds 1.35MB, copy it to media with more

storage space than a floppy diskette.

To file T4 slips (original submission):

1. In the Home window on the File menu, choose

Import/Export. Select Electronic Filing, and then Export T4's
(Internet File Transfer).

2. If you have payroll data for more than one year, select the
payroll year to which the T4 slips apply.

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Chapter 21: End of Year and Tax Period

3. Select the employees for whom you wish to file T4 slips.

4. Using publications from the Canada Revenue Agency to

guide you, complete the information on all tabs of the form.

Select the employees for

whom you wish to submit
T4 slips.

Select the payroll year.

Click to include inactive

employees in the
employee selection list.

Transmission Information Tab

■ Transmission Method. Select the Internet File Transfer

option to submit up to 499 T4 slips over the Internet. If
you select more than 499 employees, Simply Accounting
will automatically select the Magnetic Media option.
Select the Magnetic Media option to file an original or
amended slip transmission on diskette or CD-ROM.

■ Report Type Code. If you select the Internet File

Transfer transmission method, Original is automatically
selected, as you can only submit original T4 slips via the
Internet. If you select the Magnetic Media option, then
select Original to submit your original T4 slips, or
Amended if you are making changes to an original or
previously amended slip transmission.

■ Transmitter Number. If you select the magnetic media

transmission method, then enter the 6-digit transmitter
number assigned to you by the CRA. This number
begins with the letters “MM.”
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■ Submission Reference ID. Simply Accounting displays

a default number, which is the count of the number of
transmissions you’ve made. You can accept this number,
or enter a unique number to identify the current file
submission. For example, to identify an original file
submission, enter 001. To identify a resubmission of
amended slips, enter 002, and so forth.

■ File Sequence Number. You are required to track the

sequence of filings submitted when you file
electronically. This number appears at the end of the
electronic file name. Simply Accounting automatically
displays the last number in the submission series. You
can accept this number or enter another number.

Business Information Tab

■ Click the Business Information tab, and select your

business type. Depending on your selection, you may
have to enter the social insurance number (SIN) of one
or two of the primary business owners.

Business Type Information Required

Sole Proprietorship Enter the SIN of the owner.
Partnership Enter the SIN of the two main
owners or partners.
Canadian Controlled Enter the SIN of one or more
Private Corporation owners or partners.
Other No information is required.

Contact Information Tab

■ Enter your company contact's information and language

preference.

5. Click OK.

6. On the T4 Box Options window, assign income and

deductions to the correct T4 slip box numbers. Click OK
when complete.

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Simply Accounting validates company and employee

information before creating the file for transmission and
advises you if errors are found.

7. If the validation process is successful, then the T4 slip

information is exported to a file. Select a location on your
hard drive where the file will be created.

Note: Simply Accounting will use the default file name

T4EFILE001XML. This file name format is <name>nnn.xml,
where name is any combination of number or letters that
you’ll use to identify the file, and nnn corresponds to the
submission sequence number. For example, if this is your
second submission, then modify the default file name to
T4EFILE002.XML.

8. Click the Print button on the Simply Accounting — Export

Records Summary window to print the transmission details
for your records.

9. If you are filing original slips over the Internet:

a) Click the link on the bottom left of the window to access

the CRA's secure Web site, where you can enter your
web access code and transmit the generated file.

b) When you’ve completed this process click the OK button

to close the Export Records Summary window.

10. If you are filing on magnetic media:

a) Click the OK button to close the Export Records

Summary window.

b) Copy the file to diskette or write it to CD. Consult your

CD writer’s software manual for instructions on
finalizing the disk using ISO 9660 encoding.

c) Refer to CRA publications for additional filing

directions.

11. For each employee for whom a T4 slip was generated,

Simply Accounting will update the E-file Information
section on the Taxes tab of the employee record (the E-file
Submission ID and the Date of Transmission fields).
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Filing Amended T4 Slips

The Canada Revenue Agency permits you to file amended
T4 slips (to correct information on a previously filed slip) in
electronic (XML) format on magnetic media only. T4 Internet
filing is not supported for amended T4 slips.

To file amended T4 Slips:

Follow the steps for filing original T4 slips, as outlined in the

previous section. Note the following:

1. Ensure that you only select the employees for whom you’ve
already filed T4 slip information, and whose T4 slip
information you want to correct.

2. On the Transmission Information tab:

a) Select the Magnetic Media transmission method.

b) Select the Amended option as the Report Type.

c) Enter your magnetic media transmitter number.

d) Use the Submission Reference ID that Simply

Accounting generates or enter your own unique
reference number.

Note: To reprint amended T4 slips for affected employees,

follow the directions for printing T4 slips in Chapter 1, “List
of Reports” in the Advanced Topics file. Remember to print
the word “amended” on the top of each amended T4 slip,
and distribute the slips to affected employees as soon as
possible.

Filing Relevé 1 Slips

For the year you select, Simply Accounting will generate
Relevé 1 slips to a file in the format required by the Ministère du
Revenu du Québec. You can access the Ministère’s Web site to
transmit the file over the Internet if you generated no more than
10 RL-1 slips. If you need to submit slips for more than
10 employees, then submit the file on magnetic media, such as
diskette or CD-ROM.

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Simply Accounting currently supports filing original,

replacement, and test RL-1 slips via the Internet or on magnetic
media. If your data exceeds 1.35MB, copy it to media with more
storage space than a floppy diskette.

If you file using magnetic media, you will need to have the
Simply Accounting magnetic media filing authorization number.
This number changes annually and is available on our Web site:
www.simplyaccounting.com/ce/rq/.

Note: You must be registered with Clic Revenu to file RL-1 slips
over the Internet. Visit the Revenu Quebec Web site for more
information about registration.

To file RL-1 slips:

1. In the Home window on the File menu, choose

Import/Export. Select Electronic Filing, and then Export
RL-1’s (Slip Transmission Service).

2. If you have payroll data for more than one year, then select
the payroll year to which the RL-1 slips apply.

3. Select the employees for whom you wish to file RL-1 slips.

4. Using publications from the Ministère du Revenu du Québec

to guide you, complete the information on all tabs of the
form.

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Select the employees for

whom you wish to submit
RL-1 slips.

Click to include inactive

employees in the
employee selection list.

Transmission Tab

■ Transmission Method. Select the Internet File Transfer

option to submit up to 10 RL-1 slips over the Internet. If
you select more than 10 employees, Simply Accounting
will automatically select the Magnetic Media option.
Select the Magnetic Media option to file RL-1 slip data
on diskette or CD-ROM.

■ Package Type. Select one of the following:

− 1 — Original File, if you are submitting an original

file.

− 2 — Replacement of Original File, if you are sending

a file in replacement of an original file at the request
of the Ministère.

− 3 — Test File, if you are sending a test file or a file in

replacement of a test file.

Note: Although, you are not required to submit a test

file before filing “live” data, the Ministère du Revenu du
Québec recommends that you submit a test file if this is
the first time you are filing RL-slip data on magnetic
media or via the Internet.

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■ Transmitter Type. Select the option that describes for

whom you are filing RL-1 slips.

■ Source of RL slips. Select the option that describes

where you obtained your RL-1 slips.

■ Transmitter Number. Enter the transmitter number

assigned (6-digit number, prefixed with the letters
“NP”) to you by the Groupe de promotion de l’EDI et
d’acquisition de données électroniques.

■ RL-1 Slip Number. Enter the 8-digit number that you

received from the Ministère du Revenu du Québec for
electronic filing. This number will be used to calculate
each employee’s 9-digit E-file slip number.

■ File Sequence Number. You are required to track the

sequence of filings submitted when you file
electronically. This number appears at the end of the
electronic file name. Simply Accounting automatically
displays the last number in the submission series. You
can accept this number or enter another number.

Business Information Tab

Enter the following information:

■ Quebec Enterprise Number. Enter the 10--digit

Québec Enterprise Number (NEQ) assigned to you by
the Inspector General of Financial Institutions, the clerk
of the Superior Court, or the Ministère du Revenu. If you
do not have a number, then leave the field blank.

■ Employer ID Number. Enter the 10-digit employer

identification number assigned to you by the Ministère
du Revenu.

■ Employer File Number. Enter the 4-digit employer file

number assigned to you by the Ministère du Revenu.
This number is always preceded by the letters RS.

Note: Your employer identification and file numbers are

pre-printed on the personalized Summary of Source
Deductions and Employer Contributions form you received
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from the Ministère du Revenu. For example, if the number is

1009551815RS0001, then the first ten digits correspond to the
identification number, and the last four digits correspond to
the file number.

Contact Information Tab

■ Enter the name and basic contact information of the

accounting and technical resource persons the
government can contact if additional information is
required.

5. Click OK.

6. Simply Accounting validates company and employee

information before creating the file for transmission and
advises you if errors are found.

7. If the validation process is successful, then the RL-1 slip

information is exported to a file. Select a location on your
hard drive where the file will be created.

Note: For magnetic media, Simply Accounting

automatically creates and names the file MRQREL01.BBB,
where BBB corresponds to the sequence number of the
magnetic medium. If you submit a single CD-ROM, the file
name would be MRQREL01.001.

8. If you are filing over the Internet:

a) Click the Print button on the Simply Accounting —

Export Records Summary window to print the
transmission details for your records.

b) Click the link on the bottom left of the window to access

the Québec government’s secure Web site, where you
can transmit the generated file.

c) When you’ve completed this process click the OK button

on the Export Records Summary window to close the
window.

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9. If you are filing on magnetic media:

a) Click the Print button on the Simply Accounting —

Export Records Summary window to print the
transmission details for your records.

b) Click the OK button to close the window.

c) Copy the file to diskette or supported tape format, or

write it to CD. Consult your CD writer’s software
manual for instructions on finalizing the disk using
ISO 9660 encoding.

d) Complete form OPR-400-V, Description of the RL-Slip

Data File, available from the Revenu Québec Web site.

Note: When completing the form, enter 550 for the

logical record length.

e) Refer to Revenu Québec publications for additional

filing directions.

10. For each employee for whom an RL-1 slip was generated,
Simply Accounting will update the E-file Information
section on the Taxes tab of the employee record (the E-file
RL-1 Slip Number and the Date of Transmission fields). The
9-digit RL-1 slip number must be printed in the upper
right-hand corner of each slip, in the space above the
pre-printed (or Simply Accounting generated) slip number.

Note: Remember to file your Summary of Source

Deductions and Employer Contributions form under
separate cover. If you’re registered for the Clic Revenu
service, then you can complete this form online.
Protecting
Your Data

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Time-Savers
Part 4

Once you become familiar with the basics, you can start to
streamline the way you use Simply Accounting. You can tailor Simply
Accounting by re-arranging screens and creating checklists for
yourself. You can also use recurring transactions to save time on
tasks that you complete every week or month, like paying rent. These
and many other time-saving features are described in this section.

Chapter 22 — Increasing Efficiency

Chapter 23 — Reducing Clutter

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Increasing
Efficiency
Chapter 22
Increasing Efficiency

These tips will save you time and help you remember important tasks.

Centralize Tasks in the Daily Business Manager ..................................... 22–1

Displaying the Daily Business Manager Automatically ........................... 22–1
Batch Process and Print Transactions ........................................... 22–2
Attach Notes to the Business Calendar .......................................... 22–3
Filtering Out Events ....................................................... 22–3
Clearing Notes ............................................................ 22–4
Use To-Do Lists as Reminders of Tasks to Be Completed.......................... 22–4
What’s on the To-Do Lists? ................................................. 22–5
Displaying To-Do Lists .................................................... 22–5
Using To-Do Lists ......................................................... 22–6
Adding Memos to the To-Do List ........................................... 22–6
Using a Recurring Transaction in the To-Do List ............................. 22–6
Business Performance Measurements ........................................... 22–7
Selecting Business Performance Measurements .............................. 22–8
Print Forms in Batches ............................................................ 22–8
Set the Batch Printing Option .................................................. 22–9
Print the Batch ................................................................ 22–9
Viewing Reports in Batches ....................................................... 22–10
Using Checklists ................................................................. 22–11
Displaying Checklists ........................................................ 22–12
Using an Existing Checklist ................................................... 22–12
Creating or Changing Checklists .............................................. 22–12
Looking Up Information ......................................................... 22–13
Looking Up a Transaction .................................................... 22–13
Searching for Records or Transactions ......................................... 22–14
Getting More Details from Reports ............................................ 22–16
Tracking Shipments .......................................................... 22–18

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Adding Records “on the Fly” ..................................................... 22–18

Entering Transactions that Occur on a Regular Basis ................................ 22–19
Storing a Recurring Transaction ............................................... 22–20
Using a Recurring Transaction ................................................ 22–20
Changing a Recurring Transaction ............................................. 22–21
Set Up Bills of Material for Inventory Items ........................................ 22–21
Using a Pop-Up Calendar in Date Fields ........................................... 22–22
® ®
Synchronizing Your Vendor and Customer Records with Microsoft Outlook ........ 22–22
Set Up Your Vendor and Customer Records .................................... 22–23
Synchronize Your Records for the First Time ................................... 22–23
Add Simply Accounting Vendor or Customer Records in Outlook ................ 22–23

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Centralize Tasks in the Daily Business Manager

The Daily Business Manager centralizes some of the most

common daily tasks in a single handy location. Use it to:

■ Process multiple transactions at once using the batch-

processing feature.

■ Attach notes and reminders to the business calendar and

print notes for a range of dates.

■ View totals and graphs of current business performance

measurements.

■ See reminders in the to-do lists and take care of tasks that
need attention, such as shipping orders and paying vendors
on time.

Displaying the Daily Business Manager Automatically

When you first install Simply Accounting, the Daily Business
Manager is set to display automatically when you start the
program and when you change the session date. If you wish,
you can turn off this option.

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To turn the automatic display on or off:

1. In the Home window on the Setup menu, choose User

Preferences, then the View tab.

2. Under Daily Business Manager, click At Startup or After

Changing Session Date to add or remove the check mark
that indicates when the Daily Business Manager will be
displayed.

3. Click OK.

Batch Process and Print Transactions

You can process payments due and recurring sales invoices in
batches rather than one at a time. The program can also print the
related invoices or cheques at the same time.

Note that you can also print other forms in batches, after you
have processed them. See “Print Forms in Batches” later in this
chapter.

To process transactions in batches:

Daily Business 1. Open the Daily Business Manager:

Manager
■ In the Home window on the Business Assistant menu or
toolbar, choose Daily Business Manager.

Or,

■ In a transaction window, choose Daily Business

Manager from the toolbar or View menu.

2. Click the tab for the type of transaction you want to process:
Recurring for sales invoices, or Payments Due for payment
cheques.

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Click in the Process
column beside the
transactions you want to
process.

Click in the Print column

beside the transactions
you want to print.

3. If you selected any transactions for printing, choose Print

Selected Transactions from the File menu.

4. Click the Process button to process the selected transactions.

Attach Notes to the Business Calendar

Use the Business Calendar to create and store notes and
reminders. To change the date of the notes displayed, left-click
on the date you want. To change the transaction date, right-click
on the date you want. This changes the to-do list display but
does not change the session date once you close the window.

The transaction date is

highlighted in red. The
date of the displayed
note, which is also the
date used to select the
transactions displayed on
the to-do lists at the
bottom of the screen, is
highlighted in blue. Dates
that include notes and
dates that appear in the
to-do lists are bold.

Click Print Notes to print Click Clear Notes to clear

notes, selected by date. the notes displayed.

Filtering Out Events

If you have many notes or to-do list items and many of the dates
are bold, you can filter out events you don’t want to highlight.

1. Open the Daily Business Manager.

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2. On the View menu, choose Options.

3. Check the boxes for the items you want to include, or

uncheck to exclude them.

If you uncheck an item,

note that its tab will
disappear from the to-do
list as well. You can restore
it by checking the box.

Clearing Notes

You can clear notes you no longer need, in any of the following
ways:

■ Click the Clear Notes button in the Daily Business Manager

to clear the notes currently displayed.

■ In the Home window on the Maintenance menu, choose

Clear Data, then Clear Notes, and select a date. The program
will clear all notes on or before that date.

■ In the Home window on the Maintenance menu, choose

Clear Data, then Automatically Clear Data. Check the box
beside Clear All Notes Over [ ] Months Old, then enter a
number of months.

Use To-Do Lists as Reminders of Tasks to Be Completed

To-do lists help you remember to complete important tasks, such
as paying bills or calling a customer. They also help you save
time, as you can double-click an item on the list to automatically
open the related window and complete the task.

To-do lists help you to:

■ Pay vendors before early-payment discounts expire.

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■ Keep track of remittance due dates for tax and other payroll
liabilities.

■ Ship orders as they become due.

■ Invoice customers when you fill an order.

■ Process recurring transactions such as rent, insurance

payments, and paycheques.

■ Follow up on business relating to customers, vendors, or

employees.

What’s on the To-Do Lists?

For the most part, Simply Accounting controls what appears on

the list. For example, you make a purchase on February 1 and
according to the payment terms that you entered, it’s due in
60 days. Simply Accounting calculates the due date and adds a
reminder to the to-do list.

The only to-do item that works slightly differently is the Memo
tab. The Memo tab contains notes that you have added to
particular vendors, customers, or employees. You might remind
yourself to call a customer to make sure they’ve received an
important order or to pay an employee a bonus for making a
special effort. See “Adding Memos to the To-Do Lists” later in
this section, for more information.

Displaying To-Do Lists

To-Do Lists To-do lists appear automatically whenever you display the Daily
Business Manager. If you prefer not to see them, you can hide
them.

To show or hide the to-do lists:

1. In the Daily Business Manager, on the View menu or toolbar,

click To-Do Lists. A check mark on the menu or an indented
button indicates that the lists are displayed.

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Using To-Do Lists

1. In the Daily Business Manager, click the appropriate to-do-

list tab to find the reminder that you need.

2. To display to-do lists for a different date, change the date in

the business calendar at the top of the screen.

Adding Memos to the To-Do List

1. In the Home window, choose either the Vendors,

Customers, or Employees icon.

2. Open the record to which you want to attach a memo, and

click the Memo tab.

3. Type the information in the Memo area.

4. In the To-Do Date field, type a date. If you leave this field
blank, the memo will always appear.

5. Check the Display This Memo In The Daily Business

Manager box.

Save 6. When you have finished, choose Save from the File menu.

Using a Recurring Transaction in the To-Do List

Simply Accounting allows you to store recurring transactions so

that you can recall and process them when you need to.

For more information about recurring transactions, see “Entering

Transactions that Occur on a Regular Basis,” later in this chapter.

1. In the Daily Business Manager, click the Recurring tab.

2. Double-click the recurring transaction.

3. Make any changes needed, and click Process.

Note: To print a list of recurring transactions due on or before

the date specified in the Daily Business Manager, click the Print
List button on the Recurring tab.

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Business Performance Measurements

The Business Performance Measurements section of the Daily

Business Manager displays financial information that helps you
understand how your business is performing. For example, the
Revenues (Past 7 Days) value tells you how much money has
come into your business over the past seven days; the graph
displayed shows you the amount for that week and compares it
to values from the past 12 weeks or 8 months.

Business Performance Measurements include Inventory

Turnover, Gross Margin/Profit, Expenses, among others.

By default, the Daily Business Manager displays your Cash

Balance, your Current Ratio, and your Quick Ratio. You can
select any combination of business performance measurements
by selecting Options from the View menu and then selecting the
Business Performance Measurements tab. For more information,
see the section, Selecting Business Performance Measurements.

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Selecting Business Performance Measurements

To select the Business Performance Measurements to be

shown in the Daily Business Manager:

1. To open the Daily Business Manager, click Daily Business

Manager on the Business Assistant menu or the toolbar in
the Home window.

2. In the Display field, select Business Performance.

3. On the View menu, select Options.

4. Click the Business Performance tab.

To add a measurement to the list:

■ Select one or more measurements from the Performance

Not Shown In The Daily Business Manager box and click
Select. Or, if you wish to include all measurements, click
Select All.

To remove a measurement from the list:

■ Select one or more measurements from the Performance

Shown In The Daily Business Manager box and click
Remove. To start a new list, click Remove All and then
select the measurements to add to the list.

Note: We recommend that you limit the number of business

performance measurements to six or less.

5. Click OK.

Print Forms in Batches

You can print most forms (such as invoices and cheques) in
batches. Batch printing is easier and faster than printing one
form at a time.

You can still select the Print command in a transaction window

to print an individual form. However, in most cases you may
prefer to use the Print Batches command on the Reports menu to
print several or many forms at once.

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Note that batch printing is not the same as the batch processing
and printing feature described under “Batch Process and Print
Transactions” earlier in this chapter. That feature allows batch
printing only from the Daily Business Manager, only for
recurring sales invoices and recurring payments due, and only at
the same time as you process the items.

Set the Batch Printing Option

When you first install Simply Accounting, the batch printing
option is turned off.

1. In the Home window on the Setup menu, choose System

Settings, then Settings. Select Company, and click Forms.

2. Check the Print In Batches box for each type of form you
want to be able to print in batches. Checking the box to print
cheques in batches will automatically choose direct deposit
stubs as well.

3. Click OK.

Print the Batch

Before you can print batches, you must process the transactions
to be printed. You can then print batches from either the Home
window or a transaction window.

1. Process the transactions you want to print.

2. Open the Print Batches window:

■ In the Home window on the Reports menu, choose Print

Batches, then the transaction type.

Or,

Print Batches ■ In a transaction window, choose Print Batches from the

toolbar or File menu.

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Select the options you

want, then click Print.

If you want to print another

batch, select the options
for the new batch, then
click Display and check
that these are the
transactions you want.

3. When you have selected the options you want, click Print to
print the batch. You can then select different options to print
other batches if needed.

Viewing Reports in Batches

Use the My Reports feature to view group reports for batch
processing. My Reports allows you to group several reports,
such as, daily, weekly, or monthly reports, to display them all at
once.

Grouping reports is a three-step process. First, you save

customized reports as templates, then you create your report
groups, and then you assign the templates to a report group.

To set up report groups:

1. In the Home window on the Reports menu, choose My

Reports, or click the My Reports icon on the My Business tab
in the Home window.

2. Click Set Up Report Groups.

3. Click on a new line to add one or more report group

name(s).

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4. Click OK.

To assign templates to a report group:

1. In the Home window on the Reports menu, choose My

Reports, or click the My Reports icon on the My Business tab
in the Home window.

2. Click Set Up Report Groups.

3. In the Report Lists tab, select your report group in the

Groups field. Any new templates should automatically
appear in the Reports That Do Not Belong To This Group
column.

4. Select the new template and click Select to add the template
to the report group.

5. Click OK.

To batch-generate a report group:

1. In the Home window on the Reports menu, choose My

Reports, or click the My Reports icon on the My Business tab
in the Home window.

2. Select the report group you wish to generate and then click
Select All to display all report groups.

3. Click Display.

4. When you have reviewed each report, you can click the print
icon on the toolbar to print a copy.

5. Click Close to close the My Reports window.

Using Checklists
Checklists help keep track of tasks that involve a number of
steps, such as year-end procedures. You can use the program’s
built-in checklists or you can add your own.

Simply Accounting comes with these checklists, which you can

change according to your needs:

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■ Calendar Year-End Procedures

■ Fiscal Year-End Procedures

■ Month-End Procedures

■ Day-End Procedures

Displaying Checklists
Checklists You can have checklists appear automatically whenever you start
Simply Accounting or change the session date. You can also
choose Checklists from the Business Assistant menu.

If you prefer not to display the checklists automatically:

1. In the Home window on the Setup menu, choose User

Preferences and then View.

2. In the Checklists section, click an item to add or remove the

check mark.

3. Click OK.

Using an Existing Checklist

1. To display a checklist, in the Home window, choose
Checklists from the Business Assistant menu or toolbar.

2. In the Checklists window, double-click the checklist you

want to use.

3. Click in the Done column beside each task as it is completed.

A check mark appears, to indicate that you have finished the
task.

4. Once you have finished all of the tasks, you can click the
Checklist Completed button to reset the list.

Creating or Changing Checklists

You may want to customize the checklists that come with Simply
Accounting by adding new lists or changing existing ones.

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1. To display a checklist, in the Home window, choose
Checklists from the Business Assistant menu or toolbar.

2. If you want to edit an existing checklist, double-click it. If

you want to add a new one, click the Add button.

3. In the Checklist field, type the name of the checklist, and

then edit the checklist. To add a line, select an empty line
and then type the task. To edit a line, double-click it.

Select a task, and click

these buttons to delete or
add a blank line above it.

Select a task, and click

these buttons to move it
up or down the list.

4. Click Save.

Looking Up Information
When customers and vendors ask questions about their business
with you, Simply Accounting provides a quick and efficient way
of looking up the information.

Looking Up a Transaction
Sometimes a customer may ask a question about a particular
invoice, and you want to see it for reference. Or perhaps you
want to review a quotation you received from a vendor, or check
an old deposit slip.

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You can look up invoices, orders, quotes, payments, receipts,

and deposit slips.

Look Up To look up a specific invoice, payment, receipt, or deposit slip,

Invoices, click the Look Up button on the toolbar in the transaction
Payments, window.
Receipts, or
Deposit Slips

Select a customer, or
select <Search All
Customers>.

If you don’t know the

name, invoice number, or
transactions number, click
Browse and select the
item you want. Click OK
to display the transaction.

To look up an order or a quote in a transaction window, use the

List button in the Order or Quote Number field, and select a
transaction from a list. Click Select.

Searching for Records or Transactions

In the Home window, Simply Accounting provides both basic
and advanced search tools.

The basic search helps you find records and transactions using a
name or number.

Simply Accounting If you are using Simply Accounting Pro or higher, an advanced
Pro or higher search helps you find records or transactions containing specific
field details or values. You can also use the Quick Search feature
to create a report that lists all records and transactions that
contain data matching the search request.

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To perform a basic search:

Search 1. In the Home window, click Search on the toolbar or Edit

menu.

2. In the Search window, select the type of record or transaction

you want to find.

3. Type the name or number of the record, account, or

transaction you want to find.

Note: If you want to search for a record manually, check the

Bypass Search Field box and scroll through the list of
records. The Bypass Search field does not appear when
searching for transactions.

4. When the record is highlighted in the list below the Search

field, click OK or double-click the record to view it.

Simply Accounting To perform an advanced search:

Pro or higher

Search 1. In the Home window, click the Search on the toolbar or Edit
menu.

2. On the Advanced tab, choose the type of record or

transaction you want to find.

Note: If you are working with a consolidated company, you

can only look up account records and miscellaneous
transactions.

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Choose the matching

criteria Simply Accounting
should use when it
searches (for example,
Starts With).
Enter the characters or
amount to Search for.

Use the And/Or buttons to

make your search more
specific.

3. To customize the arrangement of your search results,

click Customize.

4. Click OK.

Simply Accounting To perform a quick search:

Pro or higher

1. In the Home window, on the toolbar next to the Search

button, enter text in the Search field.

2. Click the Quick Search button to list all records and

transactions that contain matching text.

Getting More Details from Reports

You might be looking at a financial statement, such as an income
statement, and want to know more specific details about one of
the accounts. In the report window, you can double-click any
item on the report to see these details.

Drilldown When you place the mouse pointer over an item on which you
can see more details, the pointer changes to a magnifying glass.

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Double-click to
open details on
an account.

Details for an
account

Redo Report You can change the report options (for example, to view details
for another year, or to select a different sort option) without
closing the window. Click the Redo Report button on the toolbar
(or from the Options menu, click Redo Report) and choose new
options.

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Tracking Shipments
If you need to track a shipment and you have included the
shipper’s name and tracking number on the invoice, you can
trace the shipment automatically via the shipper’s Web site.

You must set up shippers in Simply Accounting before you can

track shipments. For more information, see “Set Up Shippers” in
Chapter 3.

To track a shipment:

1. Open the window where you created the invoice for the
merchandise you want to trace.

Look Up 2. From the Purchase or Sales menu or the toolbar, choose Look
Invoice Up Invoice, and select the invoice.

Track 3. From the Purchase or Sales menu, choose Track Shipments.

Shipments
Web 4. Click the Web button to open the shipper’s Web site.

5. Follow the instructions on the Web site to retrieve

information about your shipment.

Adding Records “on the Fly”

If you are just starting to use Simply Accounting and want to get
started quickly, you might not want to enter all of your
information right away.

For example, you might want to add customers only when they
buy something, rather than entering your entire customer list at
once. In the Sales, Orders, and Quotes window, you can type the
new customer’s name. Simply Accounting recognizes that this
customer doesn’t exist and asks you what you would like to do:

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Read the instructions on the screen to see which option you want
to select.

You can add the following records on the fly:

■ Accounts
■ Vendors
■ Customers
■ Employees
■ Inventory and service items
■ Projects

Entering Transactions that Occur on a Regular Basis

Entering the same transaction every month, such as paying rent,
can be cumbersome. Simply Accounting allows you to store
recurring transactions so that you can recall and process them
when you need to.

You can use recurring transactions in the following windows:

■ Purchases, Orders, and Quotes

■ Sales, Orders, and Quotes
■ Payments (when making miscellaneous payments)
■ Paycheques
■ Item Assembly
■ Inventory Adjustments
■ Miscellaneous Transactions
■ Time Slips (Simply Accounting Pro or higher)

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Part 4: Time-Savers

Storing a Recurring Transaction

When you store a transaction, Simply Accounting does not
update any accounts. It saves the details so that you can process
them later.

1. In the Home window, open the window in which you want

to create the entry.

2. Enter the transaction as you normally would, but do not

process it.

Store As 3. Click Store As Recurring Transaction on the toolbar, and fill

Recurring in the information about the transaction.
Transaction
4. Click OK.

Using a Recurring Transaction

1. In the Home window, open the window in which you stored
the recurring transaction.

Recall 2. On the toolbar, click Recall Recurring Transaction.

Recurring
Transaction

The due date is determined

according to the last date on
which you processed the
transaction, and the
frequency.

You can choose to view recurring transactions by Due Date,

Date Last Processed, Frequency, or Transaction Name.

3. Select a transaction from the list and click Select. The next
due date automatically appears in the Date field.

4. Make any changes needed, and click Process.

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Efficiency
Chapter 22: Increasing Efficiency

Increase
Changing a Recurring Transaction
Recall 1. In the Home window, open the window in which you stored
Recurring the recurring transaction, and then click Recall Recurring
Transaction Transaction on the toolbar.

2. Select the transaction you would like to change. To remove

the recurring transaction, click Remove; otherwise, click
Select.

Store As 3. If you are changing this transaction, make the necessary

Recurring changes. Click Store As Recurring Transaction on the toolbar
Transaction to save the changes.

4. If necessary, change the frequency of the transaction, and

click OK.

Note: If you change the name of the transaction, Simply

Accounting adds a new recurring transaction under that
name and does not replace the old one.

Set Up Bills of Material for Inventory Items

Simply Accounting In Simply Accounting Pro or higher, if you assemble items from
Pro or higher components, you can set up a bill of materials, a list of the
components and quantities needed to build an item. Later, you
can quickly record the assembly of the item without having to
enter each component individually.

If you are creating a sales invoice for an assembled item that

does not have sufficient stock on hand, Simply Accounting alerts
you and asks if you want to build it.

To set up a bill of materials:

1. In the Inventory and Services window, add the item and fill
in the Build tab.

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Part 4: Time-Savers

List the components that

are needed to build this
item.

Enter any additional costs,

such as labour and
overhead costs.

Using a Pop-Up Calendar in Date Fields

Date fields include a button that you can click to display a
calendar and select a date. Use the mouse to select the month and
day you want, or use the following keys:

Arrow keys: Moves the highlight to a different date.

Enter: Selects the highlighted date.

Escape: Closes the calendar.

Page Up: Displays the previous month.

Page Down: Displays the next month.

Home: Displays the first day of the month.

End: Displays the last day of the month.

Click the month to select from a list of months.

Click the year to select a year.

Synchronizing Your Vendor and Customer Records

® ®
with Microsoft Outlook
Simply Accounting You can configure Simply Accounting and Microsoft Outlook to
Pro or higher automatically maintain the same information in your vendor and
customer records.

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Efficiency
Chapter 22: Increasing Efficiency

Increase
Synchronizing your vendor or customer contact list is a two-step
process. First, prepare the vendor or customer records you
would like to add to Outlook. Then, in Outlook, synchronize
your records. Any time you add, change, or delete records in
Simply Accounting, you can click the Synchronize button in
Outlook to update its records.

Set Up Your Vendor and Customer Records

1. In the vendor or customer list, open the first record you
want to add to Microsoft Outlook.

2. On the Options tab, select the Synchronize With Microsoft

Outlook box.

3. Click the Next arrow to open the next record. Repeat for all
vendors or customers you want to include in your Outlook
synchronization.

Synchronize Your Records for the First Time

1. Close Simply Accounting.

2. Open Microsoft Outlook.

3. On the Simply toolbar, select the database you have

prepared for synchronization.

Note: When you installed Simply Accounting, a new

Synchronization toolbar was added to Outlook. If this
toolbar is not visible when you open Outlook, right-click the
main toolbar and choose Simply.

4. Click the Sync button. When Outlook has finished updating,

you can re-open Simply Accounting.

Add Simply Accounting Vendor or Customer Records in Outlook

After you have synchronized your records at least once, you can
create new vendor or customer records from within Outlook.

1. In the Contacts window in Outlook, enter the customer or

vendor details and then click Categories.

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Part 4: Time-Savers

2. In the list of categories, select the box for the Simply Vendor
or Customer and company combination you want to use,
and then click OK.

3. Click Save and Close.

4. Click the Synchronize button.

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Chapter 23
Reducing Clutter

Once you’ve been using Simply Accounting for a while, you may want to

Reducing
Clutter
streamline it to hide or remove things that you don’t use.

Keeping Inactive Parts of Your Business out of the Way .............................. 23–1
Customizing Windows To Show What You Need .................................... 23–1
Customizing Sales Invoices .................................................... 23–2
Hiding Unused Parts of Simply Accounting ......................................... 23–3
Automatic Advice ............................................................ 23–3
Sections of the Home Window ................................................. 23–3
Account Numbers on Reports .................................................. 23–4
Comments Column in Miscellaneous Transactions ............................... 23–5
Hide Specific Window Features ................................................ 23–5
Icon Windows ................................................................ 23–6
Clearing Old Information from Simply Accounting .................................. 23–7
Clearing Data Automatically .................................................. 23–10

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Chapter 23: Reducing Clutter

Keeping Inactive Parts of Your Business out of the

Way
An employee decides to quit, but you need to keep their records

Reducing
on file. Or perhaps you stop selling a particular item, but still

Clutter
need to track how much of it you have sold for the year. You can
set the record’s status to Inactive. This way, the record won’t
appear on lists or reports, yet any transactions remain.

Note: You can set inactive records to appear on reports when

you open the report.

In the bottom left corner of any account, customer, vendor,

inventory item, employee, or project record, you can check the
Inactive box.

Check this box to set this

employee’s status to
inactive.

Customizing Windows To Show What You Need

Hiding fields that you never use leaves more room for the ones
that you need. For example, if you do not plan to keep track of

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Part 4: Time-Savers

projects for your company, you can remove the Allocation

column from the Sales and Purchases screens.

1. Depending on which window you have open in Simply

Accounting, do one of the following:

■ In the Home window from the View menu, choose

Customize Transaction Windows. Click the tab for the
window you want to change.

Customize ■ In a transaction window (such as the Sales, Orders, and

Transaction Quotes window), choose Customize Transaction
Window Window from the View menu.

2. Check the boxes for the fields you want to hide.

3. Click OK.

Customizing Sales Invoices

Simply Accounting For sales invoices, you can choose a different invoice style to suit
Pro or higher your business, and can change the style if you want to.

Choose a style from the

list.

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Chapter 23: Reducing Clutter

To customize the settings for each invoice style:

1. In the Home window on the View menu, click Customize

Transaction Window.

2. On the Customer Invoices tab, select the style you want to

Reducing
Clutter
change.

3. Check the boxes and read the instructions on the screen.

Note that these settings are for display only; to change your
printed invoices, click Form Options.

4. Click OK.

Hiding Unused Parts of Simply Accounting

You can hide various parts of Simply Accounting that you don’t
plan to use.

Automatic Advice
Simply Accounting offers advice automatically as you conduct
your daily business. For example, if you are about to make a sale
to a customer whose credit is overextended, the program will
ask whether you are sure you want to sell more to this customer.

To turn advice on or off:

1. In the Home window on the Setup menu, choose User

Preferences, and then the View tab.

2. Check or uncheck the Automatic Advice button.

3. Click OK.

Sections of the Home Window

The Simply Accounting Home window is divided into groups of
icons called modules. You can hide individual modules that you
do not use. For example, you may not want to use the Project or
Time and Billing features.

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Part 4: Time-Savers

Simply Accounting still records information that affects the

hidden sections, and you can bring them back into view at any
time.

To hide a module:

1. In the Home window from the Setup menu, choose User

Preferences, and then the View tab. Uncheck the modules
you do not want to display.

2. Click OK.

To display a hidden module:

1. In the Home window from the Setup menu, choose User

Preferences, and then the View tab. Check the modules you
want to display.

2. Click OK.

Account Numbers on Reports

Account numbers appear in transaction detail lists and reports. If
you don’t need to show the account numbers, you can display
only the account names.

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Chapter 23: Reducing Clutter

1. In the Home window from the Setup menu, choose System

Settings, and then Settings.

2. Click General (Accounts) and then Numbering.

3. To display or hide account numbers, check or uncheck the

Reducing
Clutter
boxes.

4. Click OK.

If two or more accounts use the same name, these commands are
dimmed because the account number is the only way to
distinguish the accounts.

Comments Column in Miscellaneous Transactions

A column for comments appears in the Miscellaneous
Transactions window. If you wish to hide the Comments
column:

1. In the Miscellaneous Transactions window, on the View

menu, choose Customize Transaction Window.

2. On the Miscellaneous Transactions tab, in the Do Not Show

section, check the Comment box.

3. Click OK.

Hide Specific Window Features

If you do not use specific features within a module, you can turn
them off so they do not appear in transaction windows or lists.
You can easily turn any of these options back on again.

To show or hide features in a transaction window:

1. In the Home window on the Setup menu, choose System

Settings, and then Settings.

2. Click Features.

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Part 4: Time-Savers

If you clear the options My

Company Uses Orders and
My Company Uses Quotes,
associated toolbar buttons
and fields are hidden in
related transaction
windows.

Leave this checked if

your company uses
projects.

3. Click OK.

Icon Windows
The icon window is a list of records that displays a small icon
with each name. It helps you find records quickly and easily

You can display icon windows for accounts, vendors, customers,

employees, inventory and services, and projects.

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Chapter 23: Reducing Clutter

You may prefer to skip the icon window and open the first
record instead. You can then find other records using the
navigation tools built into the record window:

Reducing
Clutter
You can select any
record from this list.

Use these buttons to

browse through the
records one by one.

To show or hide an icon window:

1. In the Home window on the Setup menu, choose User

Preferences, and then click the View tab.

2. Uncheck the icon windows you do not wish to display.

3. Click OK.

Clearing Old Information from Simply Accounting

Every time you enter a transaction, Simply Accounting records
its details. This information is essential for creating accurate
reports.

Paycheque details are automatically cleared after one year.

However, most other data is stored until you specifically clear it
out.

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Part 4: Time-Savers

Simply Accounting If you are using Simply Accounting Pro or higher, you can keep
Pro or higher monthly account balances and include them on multi-period
reports for up to 100 years. This lets you:

■ Create historical reports for any date or period.

■ Compare your current year’s transactions to those of

previous years, to have a better idea of how your business is
doing.

■ Print historical financial statements easily, without having to

restore a backup file.

The program adds to your financial history when you start a

new fiscal year.

Saving disk space The more transactions you store, the more hard-disk space they
take up and the longer some actions take to complete. For this
reason, you should clear details that are no longer needed.

The best time to clear transaction data is at the beginning of the

fiscal year. As long as you back up your data, you can always
restore old company details so that you can look them up. For
more information on backing up and restoring company data,
see “Backing up Your Company’s Information” in Chapter 19.

You can also save disk space and enhance performance by

compacting the database. For more information, see “Enhancing
Database Performance” in Chapter 20.

Note: You cannot look up or automatically adjust transactions

that you have cleared.

To clear transactions:

1. In the Home window on the Maintenance menu, you can

choose Clear Data and then any of the following commands:

Clear: What this clears More information

Paid Transactions Invoices from customers or You can clear paid
vendors that have been fully paid. invoices automatically for
This includes payments made in each vendor or customer.
the Payments window with the See “Adding Vendors” in
Make Other Payments option. Chapter 12 and “Adding

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Chapter 23: Reducing Clutter

Customers” in
Chapter 13.
Tax Report Details of all or selected sales We recommend that you
taxes. keep tax data for at least
12 months.

Reducing
Clutter
Account Details of account reconciliations. We recommend that you
Reconciliation keep account
reconciliation information
for at least 6 months.
Imported Online Account information downloaded We recommend that you
Statements (under from your bank. keep account
Account reconciliation information
Reconciliation) for at least 6 months.
Inventory Tracking Information on inventory We recommend you keep
Data turnover. The program also clears inventory tracking data
the details of associated invoices. for at least 24 months.
Lookup Data Results of searches using Lookup. We recommend that you
keep lookup data for at
least 24 months.
Lookup Data for The line-by-line details of We recommend that you
Other Payments payments made using the Make keep lookup data for
(under Lookup Other Payments option. other payments for at
Data) least 24 months.
Lookup Data for The line-by-line details of We recommend that you
Remittances (under payments made to payroll keep lookup data for
Lookup Data) authorities using the Pay remittance payments for
Remittance option. at least 24 months.
Lookup Data for The line-by-line details of time We recommend that you
Time Slips (under slips. keep time slips details for
Lookup Data) at least 12 months.
Notes The notes entered in the Daily We recommend that you
Business Manager. keep notes for at least
6 months.
Paycheque Details The income, tax, and deduction We recommend that you
totals for all employees. allow Simply Accounting
to clear employee data
automatically after

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Part 4: Time-Savers

2 years.
Financial History In Simply Accounting Pro or Simply Accounting Pro
higher, these are the monthly (or higher) adds to your
account balances up to 100 years. financial history every
time you start a new fiscal
year.
Direct Deposit The details related to the direct We recommend that you
Data deposits made for employees. allow Simply Accounting
to clear direct deposit
data automatically after
2 years.

Clearing Data Automatically

If you always clear data after a certain time, you can set Simply
Accounting to do so automatically.

1. In the Home window on the Maintenance menu, choose

Clear Data and then Automatically Clear Data.

2. Check the boxes and type the number of months to indicate

the data you want to clear automatically.

3. To clear direct deposit data, check the box and type the
number of months.

4. Click OK.

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Developing Your Business

Part 5

Simply Accounting doesn’t just efficiently store all your company’s

transactions. It can also help you run your business more effectively
and more profitably.

Chapter 24 — Maintaining a Healthy Business

Chapter 25 — Developing Customer and Vendor Relations

Chapter 26 — Tracking Your Inventory

Chapter 27 — Using Graphs

Chapter 28 — Working Away from the Office

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Chapter 24
Maintaining a Healthy Business

One of the most important questions that Simply Accounting can answer is
whether you are making money. It can also help you to increase your profitability
and ensure that your bank accounts never dip below zero.

Exploring Your Financial Position .................................................. 24–1

Income Statement ............................................................. 24–1
Revenue ................................................................. 24–2
Expenses ................................................................. 24–2
Net Income ............................................................... 24–3
Balance Sheet ................................................................. 24–3
Assets.................................................................... 24–4
Liabilities ................................................................ 24–5
Equity ................................................................... 24–6
Graphing Revenues and Expenses .............................................. 24–7
Understanding Your Cash Flow.................................................... 24–8
Cash-Flow Projection.......................................................... 24–8
Statement of Cash Flows...................................................... 24–10
Operating Activities ...................................................... 24–11
Investing Activities ....................................................... 24–12
Financing Activities ...................................................... 24–12
Cash and Cash Equivalents ............................................... 24–12
Consolidating Multiple Companies................................................ 24–13
Create a Consolidated Company .............................................. 24–13
Before You Start ......................................................... 24–14
Working with a Consolidated Company ....................................... 24–18
Modify Company Accounts ............................................... 24–18
Update Consolidated Companies .......................................... 24–19
Print Consolidated Company Reports ...................................... 24–19
Enter Miscellaneous Transactions .......................................... 24–20
Other Activities .......................................................... 24–20

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Chapter 24: Maintaining a Healthy Business

Exploring Your Financial Position

Understanding whether your company is making money is
probably your first priority. Two basic financial statements
immediately describe your company’s financial position — the
income statement and the balance sheet.

Income Statement
An income statement allows you to see the amount you have
earned (revenues), the amount you have spent (expenses), and
most important, your total profit or loss. Using Simply
Accounting’s different income statement report options allows
you to compare this year’s statement with your budget to see if
you’re meeting your goals. You can also compare this year’s
income with last year’s.

The income statement comparing actual figures to your budget

is discussed briefly in “Getting the Facts” in Chapter 20. Let’s
examine a comparative income statement.

To print an income statement:

1. In the Home window from the Reports menu, choose

Financials, and then Income Statement.

The sample income statement in this chapter was created

using these options:

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Part 5: Developing Your Business

Revenue

The first section of your income statement shows revenues:

Actual Actual
Jul 01, 2015 to Jul 01, 2014 to
Jun 30, 2016 Jun 30, 2015

A revenue account with

a negative value is
actually an expense.
Accountants sometimes
group a closely related
expense in with revenues
as a “contra account”.
Notice that this expense
increased, hence
decreasing the revenue.

You may wish to examine those accounts that have increased

and decreased the most from the last period. With this
information, you can determine where your growth is
greatest — and smallest — and adjust your sales strategies
accordingly.

Drilldown For an even closer look at your records, you may wish to double-
click some of the amounts so that you can get a transaction-by-
transaction breakdown of each revenue account. For more
information on drilling down, see “Getting More Details from
Reports” in Chapter 22.

Expenses

Expenses appear next on the income statement:

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Chapter 24: Maintaining a Healthy Business

EXPENSE

DIRECT COSTS
Material: Drywall 47,797.86 57,181.17 -16.41
Material: Hardware 90,729.94 105,966.83 -14.38
Material: Lumber 717,557.96 436,882.49 64.25
Material: Roofing 455,140.07 246,127.08 84.92
Materials: Net 1,311,225.83 846,157.57 54.96
Purchase Discounts -11,537.10 -16,900.51 -31.74
Equipment Rentals 106,050.00 183,431.00 -42.19
Wages 86,195.20 187,696.40 -54.08
EI Expense 3,161.33 3,517.76 -10.13
CPP Expense 2,580.35 3,635.55 -29.02
WCB Expense 2,048.31 315.79 548.63
QPP Expense 0.00 0.00 0.00
QHSF Expense 153.36 204.48 -25.00
Burden: Net 94,138.55 195,369.98 -51.82
Subcontractors 56,400.00 239,800.00 -76.48
Union 0.00 0.00 0.00
Freight Expense 23,335.00 22,335.00 4.48
Transfer Costs -0.30 0.00 0.00
Adjustment Write-off 107.50 206.86 -48.03
TOTAL DIRECT COSTS 1,579,719.48 1,470,399.90 7.43

GENERAL AND ADMINISTRATION

Compare administrative Accounting And Legal Fees
Advertising And Promotion
0.00
112,957.62
5,000.00
113,350.00
-100.00
-0.35
expenses to those Bad Debts
Bank Charges
0.00
14,850.00
0.00
2,850.00
0.00
421.05
directly incurred in Bank Rec. Adjustments
Amortization
0.00
16,800.00
0.00
36,300.00
0.00
-53.72
making the inventory Insurance 24,000.00 30,000.00 -20.00
Office Rent 16,000.00 22,000.00 -27.27
item or service. Telephone 8,000.00 9,000.00 -11.11
Utilities 8,000.00 2,000.00 300.00
AMEX Charges 6,089.23 0.00 0.00
MasterCard Charges 2,942.21 0.00 0.00
VISA Charges 2,248.86 0.00 0.00
Credit Card Charges: Net 11,280.30 0.00 0.00
Currency Exchange & Rounding 0.00 0.00 0.00
TOTAL GENERAL & ADMIN 211,887.92 220,500.00 -3.91

TOTAL EXPENSE 1,791,607.40 1,690,899.90 5.96

Examine where your expenses have increased and decreased the

most over the period just as you did with your revenues.

Net Income

Net income is the figure that should concern you the most. This
figure tells you how profitable the company is. In the example
below, the company was almost 75 percent less profitable than
last year.

If your net income is up or down significantly, you may wish to

look back on your revenues and expenses. Has your net income
changed because you are selling more or because it costs more to
sell those items? You need to answer these kinds of questions
before you can decide what changes you need to make to your
business.

Balance Sheet
The balance sheet shows what your company owns (assets),
what it owes (liabilities), and the net worth of your company

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Part 5: Developing Your Business

(equity). The balance sheet can be summarized in the following

formula:

Assets = Liabilities + Equity

This formula is commonly re-arranged to look like the following:

Equity = Assets - Liabilities

Unlike the income statement, which looks at profitability, the

balance sheet gives you a snapshot of your company’s resources
on a particular day.

You can compare balance sheets from the previous and current
year, just as you can with income statements.

To print a balance sheet:

1. In the Home window on the Reports menu, choose

Financials, and then Balance Sheet.

The sample balance sheet was created using these options:

Assets

Looking at your assets — the things you own — can help you to
determine how liquid your company is. Do you have too much
or too little inventory on hand? How about cash? Are most of
your assets located in long-term items, like vehicles or buildings,
meaning that you can’t readily convert your assets into cash?

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Chapter 24: Maintaining a Healthy Business

You might want to pay special attention to your receivable

accounts, which indicate how much money you are owed.
As at Jul 01, 2015 As at Aug 01, 2015 Percent

Accounts on the
balance sheet are
usually listed from most
liquid to least. The
greater the subtotals at
the top of the balance
sheet, the more easily
you can get at your
cash, if you need it.

Liabilities

Liabilities — the money that you owe to others — are usually

categorized as short-term and long-term. How much do you owe
to your creditors? How much of it will you need to pay in a short
time?

Other reports will help you further evaluate these figures,

including cash-flow reports and vendor aged reports. Cash flow
is discussed later in this chapter, in “Understanding Your Cash
Flow.” For more information on vendor aged reports, refer to
“Finding Out When Payments Will Come Due” in Chapter 25.

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Part 5: Developing Your Business

LIABILITIES

CURRENT LIABILITIES
Accounts Payable 110,328.39 585,244.75 -81.15
Amex Payable 15,115.64 0.00 0.00
MasterCard Payable 3,364.06 0.00 0.00
VISA Payable 18,951.57 0.00 0.00
Credit Card Payable: Net 37,431.27 0.00 0.00
Vacation Payable 6,363.04 9,797.84 -35.06
EI Payable 12,169.45 6,750.03 80.29
CPP Payable 12,487.40 7,326.70 70.44
Income Tax Payable 89,805.56 67,097.13 33.84
Receiver General Payable 114,462.41 81,173.86 41.01
WCB Payable 2,364.10 315.79 648.63
QPP Payable 212.48 212.48 0.00
Quebec Tax Payable 3,019.71 2,360.80 27.91
QHSF Payable 664.56 511.20 30.00
Quebec Minister of Finance 3,896.75 3,084.48 26.33
RRSP Payable 4,187.58 1,506.56 177.96
Union Payable -832.40 -1,225.16 -32.06
Medical Payable 26.80 -126.00 -121.27
Misc A 0.00 0.00 0.00
Misc B 0.00 0.00 0.00
PST Payable 19,711.25 70,357.97 -71.98
GST Paid On Purchases -264,349.42 -153,354.32 72.38
GST Charged On Sales 206,275.52 113,684.52 81.45
GST Payroll Deductions 0.00 0.00 0.00
GST Adjustments 0.00 0.00 0.00
ITC Adjustments 0.00 0.00 0.00
Compare liabilities that Net GST Owing/Refund -58,073.90 -39,669.80 46.39
Import Duty Clearing 0.00 0.00 0.00
are due relatively soon TOTAL CURRENT LIABILITIES 239,865.29 710,460.29 -66.24

(short-term) and those LONG TERM LIABILITIES

Bank Loan 46,000.00 46,000.00 0.00
that are long-term Mortgage Payable 100,000.00 100,000.00 0.00
debts to be paid over Shareholders' Loan
TOTAL LONG TERM LIABILITIES
17,300.00
163,300.00
17,300.00
163,300.00
0.00
0.00
several years.
TOTAL LIABILITIES 403,165.29 873,760.29 -53.86

You should also compare short-term (current) assets to short-

term liabilities and long-term assets (like capital assets) to long-
term liabilities. If, for example, you hold a lot of short-term debts
relative to short-term assets, you may be unable to fulfill your
financial obligations.

Equity

The equity section represents the net worth of the company.

Often, for small-business owners, the equity section includes
both the owner’s investment and the accumulated net worth of
the company. For larger companies, this section can also include
other amounts, such as those received from stock offerings.

Examining the equity in your company gives you an idea of

what the company is worth. Creditors are also interested in what
proportion of your assets is furnished by liabilities and what
proportion by equity.

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Chapter 24: Maintaining a Healthy Business

EQUITY

PAID IN CAPITAL
Class A Common 50,000.00 50,000.00 0.00
Class B Common 30,000.00 30,000.00 0.00
TOTAL PAID IN CAPITAL 80,000.00 80,000.00 0.00

RETAINED EARNINGS
Retained Earnings - Previous Year 1,344,506.70 517,926.95 159.59
Current Earnings 463,843.73 826,579.75 -43.88
TOTAL RETAINED EARNINGS 1,808,350.43 1,344,506.70 34.50

TOTAL EQUITY 1,888,350.43 1,424,506.70 32.56

Graphing Revenues and Expenses

You might want to use one of the following graphs to represent
some aspects of financial statements.

You can find all of these graphs on the Graphs menu in the
Home window.

Revenues by Account. This pie chart shows each revenue

account that you select as a percentage of your total revenue.

This graph can tell you which revenue accounts are contributing
the most to your profitability.

Expenses by Account. This pie chart shows each selected

expense account as a percentage of your total expenses.

This graph can tell you which expense accounts are highest in
relation to the others.

Expenses and Net Profit as a Percentage of Revenue. This

pie chart divides your total revenue into expenses and net profit.
Each account you select will have its own slice. All expense
accounts that you do not select are grouped into the category
Other Expenses.

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Part 5: Developing Your Business

This graph is a useful visual clue as to your profitability. The

larger the Net Profit slice of the pie, the better.

Understanding Your Cash Flow

If you don’t have enough money in the bank on the day that a
bill becomes due, you may be in trouble. Making sales and
receiving payment for those sales often happen at different
times, and it’s easy to be caught short of cash. This regular
movement of cash in and out of your business is known as cash
flow.

Simply Accounting can help you to manage and analyze your

cash flow. You can examine where your revenues and expenses
are coming from, and you can even project future cash flow.

Cash-Flow Projection
A cash-flow projection can be extremely useful for managing
your business and ensuring that you have enough money to
cover future bills. This report summarizes the bills that will be
coming due in the future as well as money you should be
receiving from customers and other sources.

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Chapter 24: Maintaining a Healthy Business

To print a cash-flow projection:

1. In the Home window on the Reports menu, choose

Financials, and then Cash Flow Projection.

The example cash-flow projection was created using these

options:

03/15/2015 TO 04/14/2015
03/15/2015 TO 04/14/2015

03/15/2015

If projecting for a bank

account, make sure
that the lowest balance
is not below zero.

Pay particular attention to the lowest balance in the account over

the period that you select. If this number is a negative number,
you could potentially overdraw your account. You can print a
detailed report to see when you are forecast to go below zero.
You might then want to delay payment of some of your bills.

You might also want to ensure that your customers are paying
their bills on time to help improve your cash flow. For more

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Part 5: Developing Your Business

information about reports on overdue payments, refer to

“Dealing with Overdue Sales Invoices” in Chapter 25.

Note: The further in the future you analyze, the less accurate
the cash-flow projection.

Statement of Cash Flows

The Statement of Cash Flows describes where your money came
from and where it went over a certain period in the past. This
report helps you to examine your ability to generate cash and
how you use it. It also breaks down your cash flow into three
categories for easier analysis:

■ Operating.

■ Investing.

■ Financing.

In essence, this report shows the changes to various accounts

over a period that you select. You could get similar information
by comparing two balance sheets, one from the day before the
beginning of the period and one for the end.

A Statement of Cash Flow can be created only within a fiscal

year (either this year or last).

Note: Make sure that all of your accounts have been assigned a
proper account class before creating this report. For more
information on account classes, see “Assign Account Classes” in
Chapter 2.

To print a statement of cash flows:

1. In the Home window on the Reports menu, choose

Financials, and then Statement of Cash Flows.

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Chapter 24: Maintaining a Healthy Business

2. Select options for the report and click OK.

Operating Activities

Operating activities are the principal revenue-producing

activities of your business. Cash flow from these activities
consists of cash transactions that contribute to net income, such
as the sale or purchase of goods and services.

Looking at this section of the report can help you to determine

the business’s ability to generate cash from day-to-day
operations. This cash is used to maintain your business, repay
loans, make new investments, and pay owners.

The first figure shows the

amount of money your
company has made or
lost over the period.

Depreciation of items
such as equipment is
added to net income in
this section of the report
to reflect cash provided
by operations.

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Investing Activities

Any time you acquire or dispose of long-term assets, like a

vehicle or equipment, cash flows from investing activities are
affected.
Cash Flows from (used in) Investing Activities
Depreciation already Decrease in Fixed Asset
appears in the Operating Equipment 2,140.00
(Increase) in Fixed Asset
Activities section. These Equipment -2,140.00
amounts outline changes Increase in Accum. Amort. & Depreciation
Accum Amort: Buildings 8,000.00
in accumulated Accum Amort: Equipment 8,000.00
Accum Amort: Vehicles 800.00
amortization and (Amortization and Depreciation already recognized) -16,800.00
depreciation accounts. Net Cash provided by (used in) Investing Activities 0.00

Financing Activities

Cash flows from financing activities consist of transactions that

affect the company’s debts and capital, such as receiving or
paying a long-term loan, shares, or owner investments or
withdrawals. You should compare the amount of cash created
by financing to that created by operations.
Cash Flows from (used in) Financing Activities
Credit-card purchases Increase in Credit Card Payable
Amex Payable 131,554.72
are categorized as MasterCard Payable 222,934.16
VISA Payable 298,236.56
financing because you (Decrease) in Credit Card Payable
are borrowing money Amex Payable -116,439.08
MasterCard Payable -219,570.10
from the credit-card VISA Payable -279,284.99
company. Net Cash provided by (used in) Financing Activities 37,431.27

Cash and Cash Equivalents

Cash equivalents are short-term (3 months or less), easy-to-sell,

low-risk investments held to meet short-term cash commitments
rather than for investing or other purposes. For this report,
Simply Accounting considers payments received by credit card
as cash.

This section shows your total increase or decrease in cash over

the period.
Increase (Decrease) in Cash and Cash Equivalents 126,747.79

Cash and Cash Equivalents at Beginning of Period 152,678.45

Cash and Cash Equivalents at End of Period 279,426.24

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Chapter 24: Maintaining a Healthy Business

Consolidating Multiple Companies

Simply Accounting If you use Simply Accounting Premium or higher, and manage
Premium or higher the accounts for several companies (subsidiary companies)
owned by a single head office (parent company), you can
consolidate your companies to generate an overall view of
company operations and finances.

When a company owns or is owned by another, generally

accepted accounting principles (GAAP) require that their
financial records be merged or “consolidated” into a single
statement for reporting purposes, usually at the end of each
fiscal year. Simply Accounting Premium or higher lets you
consolidate a number of companies (up to 2 GB of data) into a
single consolidated parent company. You can consolidate data
from companies created in any edition of Simply Accounting
(Basic, Pro, Premium, or Accountants’), but the data must be
from the same Simply Accounting version (year). For example,
you can consolidate data created in Simply Accounting 2006
Basic with data from Simply Accounting 2006 Pro.

When should I To ensure that you generate the most accurate consolidated
consolidate? reports, you should consolidate your companies at year-end. If
you require reports on a monthly or quarterly basis, talk to your
financial advisor about consolidating more frequently.

Consolidated Comparative subsidiary reports (Balance Sheet, Income

company reports Statement, Trial Balance) and the Transactions By Account report
provide financial details about the parent company and about
each subsidiary company in relation to the consolidated parent
company. The Transaction Details report provides financial
details on all company transactions, or transactions for the parent
company, a subsidiary company, or the consolidated parent.

Note: Because the consolidated company does not recognize

departments in subsidiary companies, there is no Department
option on reports.

Create a Consolidated Company

The Consolidation wizard walks you through the process of
creating a consolidated company in a few simple steps. When

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Part 5: Developing Your Business

you run the wizard, it creates a chart of accounts for the

consolidated parent based on the parent company’s chart of
accounts. The Consolidation wizard helps you map subsidiary
company accounts to the consolidated parent’s chart of accounts.

Before You Start

Before you can consolidate, be sure to complete the following

checklist:

‰ Identify the parent company.

‰ Identify one or more subsidiary companies.

‰ Ensure that each company has a unique company name and

file name, uses the same accounting method, and is running
in the same fiscal year.

‰ Ensure that the parent company is in single-user mode, and

the subsidiary companies are closed.

‰ Review the charts of accounts to identify discrepancies in

accounts between the parent and each subsidiary company.

Each subsidiary company’s accounts should be mapped to

the parent company’s accounts. If any account numbers
differ, the consolidation process automatically maps
accounts according to these conditions:

■ If the subsidiary company has fewer digits in its asset

account numbers than the consolidated parent, Simply
Accounting adds additional zeroes to the end of each
subsidiary company’s asset accounts.

For example, if the parent asset account is 168000, then

the subsidiary asset account 1680 becomes 168000.

■ If the subsidiary company has more digits in its asset

account numbers than the consolidated parent, Simply
Accounting truncates each subsidiary asset account
number to match the length of the consolidated parent
company’s asset account.

For example, if the parent asset account is 1680, then the

subsidiary asset account 1680911 becomes 1680.

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Chapter 24: Maintaining a Healthy Business

■ If a subsidiary company account cannot be matched, you

must map account numbers manually (you can do this
quickly and easily while running the Consolidation
wizard).

Note: During account mapping, Simply Accounting does

not recognize departments.

When you are ready to consolidate, complete the following

steps.

To consolidate your company:

1. Open a subsidiary or parent company in Simply Accounting

Premium or higher. If you use security, enter the password
for the sysadmin user.

Note: Users and their passwords used by the parent

company are copied to the consolidated parent company
(users and passwords from subsidiary companies are not
copied to the consolidated parent company).

2. In the Home window on the File menu, select Consolidate

Company.

3. Click Next to start the wizard. Identify whether the current

company is the parent company or a subsidiary company.

Specify whether the

current company is the
parent or a subsidiary
company.

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Part 5: Developing Your Business

4. Enter a consolidated company filename. The wizard will

create a new data file (.CDB) for the consolidated company.

Enter a file name for

the consolidated
parent company.

You can store the

consolidated parent
data file in the same
location as your
subsidiary company
data.

5. Click Add to identify one or more subsidiary companies,

then click Next to continue.

On the Related Accounts page, the Consolidation wizard

automatically maps account numbers from the parent
company to each subsidiary company (according to the
conditions described at the beginning of this section). If no
checkmark appears beside a company name in the Related
Accounts column, one or more accounts need to be mapped.

6. Select the company and then click Relate to manually map

accounts.

Note: To ensure accurate financial reporting, you should

map all subsidiary accounts to a consolidated parent
account: However, the Consolidation wizard lets you
consolidate a company even if some accounts are not
mapped. You will be reminded to map outstanding accounts
when you try to create a report.

7. Choose to show all unmatched accounts. Beside each

unmatched subsidiary account, click the List button in the
Consolidated Parent Accounts column to identify a
matching parent account.

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Chapter 24: Maintaining a Healthy Business

8. When all accounts are matched, click OK.

9. Repeat steps 6 through 8 for each subsidiary company that

requires account matching.

10. Click Next and then finish the wizard. The Consolidation
wizard retrieves opening balances and transactions for the
current fiscal year from the subsidiary companies into the
consolidated parent. It also identifies opening balances and
adds them to the consolidated parent.

All transactions for the current year are retrieved, up to the

latest transaction date.

Updating Transaction data is current as of the consolidation date.

consolidated However, you can update the consolidation and reporting
company data process for your companies as part of your year-end procedures
(or more frequently, as required). For more information, see
“Update Consolidated Companies” later in this chapter.

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Part 5: Developing Your Business

Working with a Consolidated Company

When you open a consolidated company, a different Home
window appears. It identifies the activities you can perform in
your consolidated company:

Modify Company Accounts

You can add, remove, or modify accounts in your consolidated

company.

■ Add accounts if they are required by the consolidated parent

company. For more information on adding accounts, refer to
the section “Add or Change Accounts” in Chapter 2, and
“Maintaining Records” in Chapter 20.

If you add an account in your consolidated parent company,

review the account mapping in your subsidiary company to
ensure no other account modification is required in the
subsidiary company. See the next section, “Other Activities,”
to find out how to review account mapping between
consolidated companies.

■ Remove accounts if you want to limit the amount of report

details.

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Chapter 24: Maintaining a Healthy Business

If you delete an account in your consolidated parent

company, be sure to reassign the account mapping in the
subsidiary accounts. See the next section, “Other Activities,”
for instructions on mapping outstanding accounts.

■ Modify accounts if you need to change the grouping or a

GIFI code.

Review the account mapping in the subsidiary companies to

ensure the accounts are matched correctly.

Update Consolidated Companies

You can update a consolidated company with new transactions

from the parent and subsidiary companies.

To update a consolidated company:

1. In the Home window of the consolidated parent company,

on the File menu, choose Consolidated Company.

2. Select Update, and specify the companies you want to

update.

3. Click Next and follow the steps in the Consolidation wizard.

Print Consolidated Company Reports

Print a list of comparative financial reports or consolidated

company reports as frequently as specified in your company’s
reporting requirements:

■ Comparative Subsidiary Balance Sheet.

■ Comparative Subsidiary Income Statement.
■ Comparative Subsidiary Trial Balance.
■ Transactions By Account.

For complete descriptions of these reports, refer to Chapter 1 in

the Advanced Topics manual (In the Home window on the Help
menu, select Simply Accounting Manuals, and then Advanced
Topics).

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Part 5: Developing Your Business

Note: If you did not map all accounts during the Consolidation
wizard, when you try to generate a report a warning pops up
telling you to map all accounts.

Enter Miscellaneous Transactions

You may need to process adjustments to handle asset-value

discrepancies, or to account for new amortization rates. Note
that you cannot adjust transactions recorded in the parent or
subsidiary companies from the consolidated parent, but you can
adjust transactions processed for the consolidated parent
company using the Miscellaneous Transactions window.

Refer to Chapter 16 “Entering Other Types of Transactions,” for

more information about miscellaneous transactions.

Other Activities

After you consolidate a company, you can add or delete

subsidiary companies from the consolidated company, and
update or make changes to account mapping.

To add or delete a subsidiary company:

1. In the Home window of the consolidated parent company,

on the File menu, choose Consolidated Company.

2. Complete the Consolidation wizard to add or delete

subsidiary companies. There must be at least one remaining
subsidiary company.

To modify account mapping:

1. In the Home window on the Setup menu, choose System

Settings, then Account Mapping.

2. Select the subsidiary company.

3. Choose to view only unmatched accounts.

4. Match subsidiary company accounts in the Consolidated

Parent Accounts column.

5. When mapping is complete, click OK.

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Chapter 25
Developing Customer and Vendor
Relations

Who are your best customers and vendors? Who are the worst? Based on this
basic information, you may wish to reward some and penalize others.

Evaluating Your Customers ....................................................... 25–1

Getting a General Report on Customers ......................................... 25–1
Analyzing and Ranking Sales Data ............................................. 25–3
Identifying Customers with Increased Monthly Sales ............................. 25–4
Identifying Customers With Decreased Sales .................................... 25–5
Dealing with Overdue Sales Invoices ........................................... 25–5
Graphing Overdue Invoices on Sales ........................................ 25–6
Evaluating Your Vendors ......................................................... 25–7
Getting a General Report on Vendors ........................................... 25–7
Finding Out When Payments Will Come Due.................................... 25–8
Printing a Report Showing Overdue Payments Owed to Vendors.................. 25–9

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Chapter 25: Developing Customer and Vendor Relations

Evaluating Your Customers

You identify your best customers in a number of different ways.
For example, you may care more about prompt payments than
the number or size of orders. Or, you may be concerned with the
number of orders that each customer makes as an indication of
whether they are a regular customer.

Whatever method you use to evaluate the importance of your

customers, Simply Accounting reports can help.

Note: You may want to offer your best customers preferred

pricing. For more information on preferred pricing, see “Make a
List of the Items and Services You Buy and Sell” in Chapter 9
and “Adding Customers” in Chapter 13.

Getting a General Report on Customers

Customers who make large purchases — and pay for them on
time — are customers you may want to make a special effort to
please.

The most useful report for evaluating your overall sales is the
Customer Sales Report. On this report, you can find:

■ Sales to a customer.

■ Costs involved in making sales.

■ Profit amount and margin on sales.

■ A breakdown of each item purchased.

A summary report of all items that you sell might be of the most
use. To print this report:

1. From the Reports menu in the Home window, choose

Customers And Sales and then Customer Sales.

2. Select Detail, then All Items. The screen should look

something like the following:

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These options affect only

the unit name used on
the report but not the
quantities.

If you check either box,

the report will not show
subtotals for Cost of
Goods Sold and Profit
columns.

Note: Be sure to click the Select All buttons under the

customers and items lists. Uncheck the Freight Amounts and
Other Amounts options.

3. Select the starting and ending dates for the period you want
to analyze.

Print 4. To print the report, choose Print from the File menu.

This report allows you to analyze different parts of your

relationship with your customer. You can see the total amount
that you sold to a customer and which items were the most
profitable (and the least).

Here is a copy of a section of the report for one customer. Notice

that not every item sold to this customer made a profit, nor does
it have to. For example, you might match a competitor’s prices
on a few popular items to ensure that your customer continues
to purchase the more profitable items from you. However, you
should be careful about which items you sell as loss leaders:

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Chapter 25: Developing Customer and Vendor Relations

Profits and profit margins can change on each

transaction as your costs change with the
purchase of materials.
UNIVERSAL CONSTRUCTION
Customer Sales Detail Report 03/15/2000 to 03/15/2001 Page 1

Date Item Source Quantity Revenue C.O.G.S. Profit Margin %

Ashburton Reinforcing

03/28/1999 L1030 17607 J228 2,000.0000 Sheet 36,000.00 32,099.99 3,900.01 10.83
04/28/1999 L1030 17613 J270 2,000.0000 Sheet 36,000.00 32,099.99 3,900.01 10.83
05/28/1999 L1030 17627 J327 2,000.0000 Sheet 36,000.00 32,099.99 3,900.01 10.83
06/28/1999 L1030 17634 J364 2,000.0000 Sheet 36,000.00 32,100.00 3,900.00 10.83
10/19/1999 H2510 17662 J136 100.0000 Pound 272.00 218.88 53.12 19.53
03/28/1999 L2001 17607 J228 2,000.0000 Board 1,520.00 1,498.00 22.00 1.45
04/28/1999 L2001 17613 J270 2,000.0000 Board 1,520.00 1,498.00 22.00 1.45
10/19/1999 H2520 17662 J136 100.0000 Pound 179.00 157.18 21.82 12.19
05/28/1999 L2001 17627 J327 500.0000 Board 380.00 374.50 5.50 1.45
03/28/1999 L1020 17607 J228 2,000.0000 Sheet 24,000.00 25,677.83 -1,677.83 -6.99
04/28/1999 L1020 17613 J270 2,000.0000 Sheet 24,000.00 25,678.58 -1,678.58 -6.99
05/28/1999 L1020 17627 J327 2,000.0000 Sheet 24,000.00 25,678.58 -1,678.58 -6.99
06/28/1999 L1020 17634 J364 2,000.0000 Sheet 24,000.00 25,679.04 -1,679.04 -7.00

243,871.00 234,860.56 9,010.44

You can also scan through this report to determine which

customers earn you the most total profit.

Analyzing and Ranking Sales Data

Simply If you are using Simply Accounting Premium or higher, you can
Accounting print the Customer Analysis report weekly or monthly to review
Premium or which customers represent your best sales and which customer
higher
relationships could be further developed.

The Customer Analysis report is similar to the Customer Sales

report. However, it adds a ranking structure to your customer
sales (top or bottom percentage of customers), and also adds two
more types of information: the average inventory value of the
item sold and the return on investment (expressed as a
percentage) for the specific sale.

To print a Customer Analysis report:

1. In the Home window, on the Reports menu, choose Forecast

and Analysis, then Analysis, and then Customer Analysis.

2. Choose to display either a Summary or Detail report.

3. Enter a start and a finish date for the report.

4. Choose how you want to rank your customers. You can list
them by revenue amount, quantity of units sold, profit, or
return on investment.

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Part 5: Developing Your Business

5. Decide what percentage of your customers the report should

display. If you want to display less than 100%, you can
choose to view the top or bottom group of customers, based
on sales. If you would like to include customers who have
not made a purchase within the period you specified in step
3 above, put a check mark in the Include Customers With No
Transactions box.

6. Choose which sales items to base the report on. Select

Inventory and Service Items, Other Items, or both.

Note: Other items are items that you have entered

manually on an invoice, but have never entered into your
inventory records.

7. If you chose to view Inventory and Service Item sales, select

the items you want to view. Check the Include Inactive
Items box if you want them listed in the report.

8. Click OK.

9. To print the report, from the File menu, choose Print.

Note: You may want to select a narrower font or smaller point

size to ensure that the entire report fits on the page. To change
the font or size, on the Setup menu, choose Reports And Forms,
then click Reports and enter the new settings.

Identifying Customers with Increased Monthly Sales

If your customers tend to buy goods or services on a regular
basis, a monthly analysis of which customers have increased
sales over the month from the previous year can be valuable.
You might want to offer them preferred pricing so that they will
continue to buy goods and services from you.

For more information on preferred pricing, see “Make a List of

the Items and Services You Buy and Sell” in Chapter 9 and
“Adding Customers” in Chapter 13.

To find which customers have increased sales:

1. In the Home window on the Reports menu, choose

Management Reports, and then Customers And Sales.

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Chapter 25: Developing Customer and Vendor Relations

2. Select Customers With Increased Monthly Sales, and click

OK.

Simply Accounting displays a list of customers whose average

sales have increased. It also shows the customers’ phone
numbers.

Identifying Customers With Decreased Sales

If sales to certain customers are decreasing, you may want to
contact them to see why. Perhaps they are dissatisfied with your
service or have found a better price somewhere else.

To find which customers have decreased sales:

1. In the Home window on the Reports menu, choose

Management Reports, and then Customers And Sales.

2. Select Customers With Decreased Monthly Sales, and click

OK.

Simply Accounting displays a list of customers whose average

sales have decreased. It also shows the customers’ phone
numbers.

Dealing with Overdue Sales Invoices

Overdue invoices are one of your greatest concerns. The Aged
Overdue report helps you to see not only the invoices that are
unpaid, but also those that are overdue. It will also characterize
those overdue invoices into different “aging periods,” helping
you to sort through which overdue payments are only a little
late and which are seriously in arrears.

To print an aged overdue report:

1. In the Home window on the Reports menu, choose

Customers And Sales, then choose Aged Overdue Sales
Invoices.

2. Select the customers to include, then click OK.

3. Choose Print from the File menu.

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Total Current includes invoices

that are due, but not overdue.
Aged Overdue Sales Invoices Summary Age as of 03/15/2001

Total Total Total 1 to 30 31 to 60 61+

Due Current Overdue Overdue Overdue Overdue

Ashburton Reinforcing -750.00 -750.00 - - - -

Askew Shopping Centre 3,061.36 -500.00 3,561.36 - - 3,561.36
Cavendish, Peter S. 26,750.00 - 26,750.00 - - 26,750.00
Construction Concrete Corp 43,656.00 43,656.00 - - - -
Garry High School Board 50,000.00 50,000.00 - - - -
Kent Industries Inc. 29,768.46 29,768.46 - - - -
Lowland Brewery Inc. 45,115.94 45,115.94 - - - -
Mainline Rail Ltd. 68,916.93 68,916.93 - - - -
South Flats Drainage Board 107,930.90 107,930.90 - - - -
Village Realty 85,600.00 85,600.00 - - - -
West Coast Development 10,700.00 - 10,700.00 - 10,700.00 -

470,749.59 429,738.23 41,011.36 - 10,700.00 30,311.36

Negative amounts represent

deposits, credits, or overpayments.

Tip: If you have a lot of customers, you can sort and filter the
report to focus on the largest outstanding amounts. For more
information on sorting and filtering, see the Advanced Topics file.
(In the Home window choose Help, then Simply Accounting
Manuals.)

Make sure to contact any customers with overdue invoices and

remind them that they must make payment.

Any payments that are overdue by more than 60 days (amounts

in the last column) should receive your immediate attention. Try
calling the customer to arrange for at least partial payment.
Otherwise, you may need to write off the sale. For more
information on write-offs, refer to “Writing Off Bad Debts” in
Chapter 13.

You might consider lowering the credit limit of customers with

late payments. You may also want to refuse to do business with
customers who are perpetually late with payments.

Graphing Overdue Invoices on Sales

You can see a graphical representation of sales invoices. The

Unpaid Sales by Aging Period graph shows invoices that are
both due and overdue.

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Chapter 25: Developing Customer and Vendor Relations

To create a graph of unpaid and overdue invoices:

1. In the Home window on the Graphs menu, choose Unpaid

Sales by Aging Period.
Unpaid Sales by Aging Period as at 03/15/2001
03/12001 Current
Generated on 03/15/2001
on/16/2001

31 to 60

61 to 90

Current sales are not 91+

overdue. The larger this

portion of the pie, the better.

Evaluating Your Vendors

Good relations with your vendors are just as important as your
relationships with your customers. You may receive special
discounts or other benefits if you develop close relationships
with your vendors.

If your vendors are offering you discounts for paying your bills
within a certain time (payment terms), you should try to take
advantage of those discounts. Consider that 1 percent on $10,000
of purchases is $100. However, you should only take advantage
of early-payment terms if you have enough cash on hand. Don’t
borrow money at a higher rate of interest to take advantage of
early-payment terms.

Getting a General Report on Vendors

You can use the Vendor Purchases report to see a list of your
purchases from each vendor that you select. This can help you
identify vendors who might agree to give you a volume
discount.

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To print a Vendor Purchases report:

1. From the Reports menu in the Home window, choose

Vendors And Purchases and then Vendor Purchases.

2. Select Detail, then All Items, and select the vendors and
accounts you want to include. The options window should
look something like the following:

These options affect only

the unit name used on
the report, not the
quantities.

Note: Be sure to click the Select All buttons under the

customers and items lists.

3. Select the starting and ending dates for the period you want
to analyze.

Print 4. To print the report, choose Print from the File menu.

You can also use this report to find out which vendor is giving
you the best price on an item. To do this, select a single item for
all vendors, then compare prices.

Finding Out When Payments Will Come Due

Missing payments you owe to vendors can cost you money.
Missing an early payment means a higher cost on the items you
purchase. Making a late payment can incur penalties as well as
affect any favourable payment terms you might have.

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Chapter 25: Developing Customer and Vendor Relations

You can use the Aged Overdue Purchase Invoices report to see
the total amount of payments that you owe, as well as those that
might be overdue.

To print an aged overdue report:

1. In the Home window from the Reports menu, choose

Vendors And Purchases, then choose Aged Overdue
Purchase Invoices.
“Total Current” includes invoices
that are due, but not overdue.
Aged Overdue Purchase Invoices Summary Age as of 03/25/2001

Total Total Total 1 to 30 31 to 60 61+

Due Current Overdue Overdue Overdue Overdue

Abercrombie Hardware Inc. 1,247.64 1,247.64 - - - -

Catanach, Douglas -500.00 -500.00 - - - -
Harry's Lumber 94,136.80 12,377.04 81,759.76 - 81,759.76 -
Inglewood Drafting Service 7,490.00 - 7,490.00 7,490.00 - -
Jackson Construction Ltd. 7,953.95 - 7,953.95 - 7,953.95 -

110,328.39 13,124.68 97,203.71 7,490.00 89,713.71 -

Negative amounts represent prepayments,

overpayments, and credits.

Any payments that are more than 60 days overdue (found in the
last column) are a serious concern. Your vendor may refuse to
send you more goods or offer further services until you make a
payment.

You might also find the cash-flow projection reports useful to

find out whether you can make your payments on time. For
more information on cash flow, see “Understanding Your Cash
Flow” in Chapter 24.

Printing a Report Showing Overdue Payments Owed to Vendors

To find out exactly which payments are overdue, you can use
the management report Overdue Amounts Owed to Vendors.

This report will show only amounts that are overdue past the
second aging period (over 60 days, in the examples above).

For more information on setting the aging periods for Simply

Accounting, see “Enter Payment Options for Vendors and
Customers” in Chapter 3.

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Part 5: Developing Your Business

To Print an Overdue Amounts Owed To Vendors report:

1. In the Home window on the Reports menu, choose

Management Reports and then Vendors And Purchases.

2. Select Overdue Amounts Owed To Vendors, enter the date

for which you want the report, and then click OK.

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Chapter 26
Tracking Your Inventory

If you sell goods, Simply Accounting provides a number of reports to help you
make sure that you are selling them at the right price and that you have enough
on hand to keep your customers happy.

Identifying the Items That Make the Most Money .................................... 26–1
Knowing When To Re-order ....................................................... 26–3
Understanding the Value of What You Have On Hand ............................... 26–5

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Chapter 26: Tracking Your Inventory

Identifying the Items That Make the Most Money

You can get a general idea of the goods and services that are
making you the most money when you look at your income
statement. Items, after all, are associated with specific revenue
and expense accounts.

The problem with this is that many items can be associated with
a single account. For example, you might have a revenue
account for computer hardware. Any purchases of monitors,
hard drives, or processors would all be grouped into that one
account.

You need to find out which items are selling well and which are
not. The Inventory Sales report can help you identify the top
sellers. If you haven’t sold an item for a while, you might
consider eliminating it as a stocked item.

To print an Inventory Sales report:

1. In the Home window on the Reports menu, choose

Inventory And Services, and then Sales.

The following Inventory Sales report example was created

using these options:

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Part 5: Developing Your Business

Pay particular attention to the profit you make on each item. Of

course, you may sell some items below cost to attract other
business. However, you should be careful to retain the right mix
of profitable sales and unprofitable ones if you use this strategy.

Remember that a healthy margin varies with the industry and

the perceived value of the item that you are selling. For instance,
if you are in the computer industry, a margin of 10 percent can
be quite healthy. If, however, you are in the fashion industry,
10 percent can be quite low.

To print a Product Analysis report:

Simply If you are using Simply Accounting Premium or higher, you can
Accounting print the Product Analysis report weekly or monthly to identify
Premium or which inventory or service items are the top (or bottom)
higher
performers.

1. In the Home window on the Reports menu, choose Forecast

and Analysis, then Analysis, and then Product Analysis.

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Chapter 26: Tracking Your Inventory

2. Choose a Report Type: Summary or Detail.

3. Enter a start and a finish date for the report.

4. Choose how you want to rank the products: by revenue,

quantity, profit, or return on investment.

5. Decide what percentage of your products the report should

display. If you want to display less than 100%, you can
choose to view the top or bottom products, based on your
ranking choice. If you would like to include items that have
not been sold within the period you specified in step 3
above, put a check mark in the Include Items With No
Transactions box.

6. Choose which type of customer to include: those on your

customer list, one-time customers, or both.

7. If you selected customers from the customer list, select the

customers to display.

8. If you want to include inactive customers, check the Include

Inactive Customers box.

9. Click OK.

10. To print the report, from the File menu, choose Print.

Knowing When To Re-order

When you first set up your inventory items, you can enter a
minimum level. When the quantity falls below the minimum
level due to an order or sale, Simply Accounting reminds you to
re-order the item.

If you are about to place an order with a vendor to re-order an

item, you might want to check to see if other items are close to
their minimum level. To do this, you can print an Inventory
Quantity report.

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Part 5: Developing Your Business

To print an Inventory Quantity report:

1. In the Home window from the Reports menu, choose

Inventory And Services, and then Quantity.

The sample inventory quantity report was created using

these options:

Compare the quantity on hand in the Quantity column with the

minimum amount you want to have on hand in the next column.

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Chapter 26: Tracking Your Inventory

You can see if you are close to the minimum and order more
items.

Pay particular attention to the To Order column. The number in

this field represents the minimum amount you must order so
that you can fill existing orders and have your inventory at the
minimum level.

Understanding the Value of What You Have On

Hand
Seeing a synopsis of your inventory helps you to analyze what
you have on hand. You can quickly see selling prices, quantity
on hand, and the cost of producing or purchasing those items.

The Inventory Synopsis report allows you to check the value of

all goods that you have on hand. This can be particularly useful
if you are adjusting your prices and want to compare cost with
margin.

To print an Inventory Synopsis report:

1. In the Home window on the Reports menu, choose

Inventory And Services, and then Synopsis.

The sample Inventory Synopsis report was created using

these options:

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Part 5: Developing Your Business

This report, like the Inventory Quantity report discussed earlier

in this chapter, shows you the profit margin on all of your stock.

You can also report your markup as opposed to your margin.

For information on the difference between markup and margin
as well as how to set up inventory options, see “Select Inventory
Options” in Chapter 9.

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Chapter 27
Using Graphs

Graphs give you a useful visual representation of your company’s progress. You
may want to use them for presentations to clients.

Customizing Graphs .............................................................. 27–1

Changing the Colour .......................................................... 27–2
Displaying the Detail for a Part of the Graph .................................... 27–3
Changing the Legend ......................................................... 27–3
Fixing the Legend’s Position ............................................... 27–3
Creating an Exploding Pie Chart ............................................... 27–4
Pasting a Graph into a Presentation ................................................ 27–5
Adjusting the Background Colour .............................................. 27–5

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Chapter 27: Using Graphs

Simply Accounting includes several graphs that help you to

visualize the performance of your company. You can use these
graphs within Simply Accounting to gather information quickly,
or you can paste them into other documents for a presentation or
report.

In the Home window on the Graphs menu, you can select from a
list of graphs.

Customizing Graphs
Once you select a graph from the Graphs menu, you can edit
several features of the graph, including its size and colour.

Simply Accounting automatically saves any changes you have

made when you close the graph window.

This button: Does this:

Import. Opens a graph you have exported with the Export

button.
Export. Saves the graph to a file.

Copy to the Clipboard as a bitmap. Once you click this

button, you can paste the complete graph into another
program, such as a word processor.
Copy to the Clipboard as text. Once you click this button,
you can paste the data associated with the graph into another
program, such as a word processor.
Print. Prints the graph. You can change the printer or the
margin settings in the Home window. On the Setup menu,
choose Reports And Forms, then click the Graphs tab.
3D or 2D. Displays the graph in two or three dimensions.

Rotate. Changes the angle of the vertical and horizontal axes

of the graph.

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This button: Does this:

Zoom. Enlarges any area of a graph. This is useful, for

example, if you have a pie with many small slices. Click the
Zoom button, then position the pointer anywhere outside the
graph area. Hold down the left mouse button and drag a
rectangle over the part of the graph you want to enlarge. To
return the graph to its original size, click the Zoom button
again.
Show or hide the legend. Shows or hides the legend that
explains the colours in the graph.
Show or hide the series legend (bar graph only). Show or
hide the legend that explains the coordinates along the
bottom of the graph.
Vertical grid (bar graph only). Display the graph with a
background of vertical lines.
Horizontal grid (bar graph only). Display the graph with a
background of horizontal lines.
Edit titles. Change the text at the top, bottom, left, or right of
the graph.
Change text fonts. Change the fonts displayed on the
screen.

Changing the Colour

You can change the colour of any aspect of the graph, including
any segment (one of the pie slices or a series of bars) or the
background for the graph.

Change colour 1. Drag a colour from the row at the top of the graph to the part
you want to change.

Once you let go of the mouse button, the new colour

appears.

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Chapter 27: Using Graphs

Displaying the Detail for a Part of the Graph

To see the exact values for a pie slice or a graph bar, double-click
the segment.

Note: The value does not appear when you print or copy this
graph.

Changing the Legend

The legend identifies the various bars or pie segments in your
graph. To display or hide a legend, click the Show Or Hide The
Legend button for the type of legend you want to display. For
more information on these toolbar buttons, refer to the table
earlier in this chapter.

Once you can see the legend, you can right-click it to bring up a
menu that allows you to change various options, described
below.

Fixing the Legend’s Position

When you first open a graph, the legend is contained within its
own window. If you want the legend to appear when you print
or copy it, you must fix it into position. You can do this in one of
two ways:

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■ Resize the legend as you would any window and place it

where you would like it to appear. Then, right-click the
legend, and choose Fixed.

■ Right-click the legend, and then select either Left, Right,

Top, or Bottom.

If you right-click the legend and select Options, you can change
the following:

Draw Border. Draw a line around the legend.

Draw Splitter. If you have placed the legend along an edge of

the graph, the program draws a single line separating the legend
from the graph.

3D Frame. Display the legend in a three-dimensional box.

Skip Empty. This option is used for line graphs, which Simply
Accounting does not use. Leave this box unchecked.

MultiLine. Allow the lines in the legend to wrap to the next line.

Creating an Exploding Pie Chart

You can separate any slice of a pie chart. Drag the slice you want
to move with the mouse pointer:

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Chapter 27: Using Graphs

Pasting a Graph into a Presentation

Pasting a graph into either a spreadsheet, a word-processing file,
or a Microsoft PowerPoint presentation is as easy as preparing
your graph, clicking the Copy button, and then pasting the
graph into the document.

Adjusting the Background Colour

If you want to copy a graph to a presentation, it will look better
if you colour the background for the graph the same colour as
your presentation background. If you are pasting this graph into
a word processor, consider changing the background colour to
white.

If you cannot find the colour that you need in the row of colours
at the top of the graph, you can double-click any colour to
change it to what you need.

To change a colour:

1. Double-click any colour on the row at the top of the graph.

The colour that you double-click will be replaced by the new
one that you create.

2. Click Define Custom Colors. You can then select any colour.

If you want an exact

match, you may want to
type in the RGB values.

3. Click OK, and then drag the new colour to your graph’s
background.

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For more information on changing colours, see “Changing the

Colour,” earlier in this chapter.

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Chapter 28
Working Away from the Office

Simply Accounting . . . To Go! If you are using Simply Accounting Pro or higher,
you can use Simply Accounting Mobile to enter sales orders, invoices, customers,
and time slips using a handheld device.

Taking Simply Accounting With You ............................................... 28–1

Before You Start .............................................................. 28–1
Setting Up Simply Accounting Mobile .............................................. 28–2
Step 1: Install Simply Accounting Mobile ....................................... 28–2
Step 2: Set Up Synchronization Settings and Options............................. 28–3
Step 3: Set Up Simply Accounting Mobile ....................................... 28–6
Entering Information on a Handheld Device ........................................ 28–7
Entering Sales Orders and Invoices ............................................. 28–8
Entering Time Slips ........................................................... 28–9
Adding Customers ............................................................ 28–9
Looking Up Orders, Invoices, and Time Slips....................................... 28–10
Deleting Transactions and Customer Records ...................................... 28–10
Transfer Data to Simply Accounting ............................................... 28–11
Fixing Synchronization Errors .................................................... 28–12

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Chapter 28: Working Away from the Office

Taking Simply Accounting With You

If you often work off-site, you can take Simply Accounting with
you using a handheld device loaded with Simply Accounting
Mobile. You can use Simply Accounting Mobile to enter new
sales orders and invoices, update customer information, and
keep track of your time.

Later when you are back in your office, connect your handheld
device to your desktop computer to quickly and easily transfer
the new data to Simply Accounting. At the same time, you can
update your handheld device with any changes to customers,
employees, inventory and related sales and order information
entered on the desktop.

Simply Accounting Mobile is most beneficial for salespeople who

want to enter new orders and sales while working offsite, service
providers who want to record time spent on service calls, and
marketing executives who want to keep their customer
information up to date.

Before You Start

Review the following list to ensure you meet the installation
requirements:
Requirements ■ A handheld device running Pocket PC 2002 or 2003:

− 1.55MB (ROM) on Pocket PC 2002

− 1.35MB (ROM) on Windows Mobile for Pocket PC 2003

or Windows CE .NET Devices

■ 200MB of hard disk space.

■ Internet Explorer 5.5 SP2 or higher

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Switching between If you will be working with more than one company’s data while
companies you are out of the office, you must store each company’s data in
a separate file location to prevent synchronization errors.

Each time you synchronize with a different company, be sure to

check the location of your data. See the section “Transfer Data to
Simply Accounting” for more information.

Multicurrency If you use multicurrency accounting, note that you can only enter
transactions in Simply Accounting Mobile using your home
currency.

Setting Up Simply Accounting Mobile

Simply Accounting Mobile is included on the Simply
Accounting installation CD and can be installed on one or more
handheld devices. You can install Simply Accounting Mobile on
your handheld device when you install Simply Accounting, or at
another time.

Step 1: Install Simply Accounting Mobile

If you installed Simply Accounting Mobile on your desktop
computer when you installed Simply Accounting, follow the
instructions under “To install Simply Accounting Mobile on a
handheld device,” later in this step.

If you chose not to install Simply Accounting Mobile when you

installed Simply Accounting, you must install it on your desktop
computer and then on your handheld devices.

To install Simply Accounting Mobile on your desktop

computer after you have installed Simply Accounting:

1. Close Simply Accounting.

2. From the Windows Start menu, choose Settings, then

Control Panel, and then Add Or Remove Programs.

3. Under Simply Accounting, click Change.

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Chapter 28: Working Away from the Office

4. On the Simply Accounting Setup screen, choose

Add/Remove Program Components.

5. In the list of features, check Synchronize With Handheld

Device and Simply Accounting Mobile Install.

6. Click Next and complete the process.

To install Simply Accounting Mobile on a handheld device:

1. Connect the handheld device to the computer where you

store your Simply Accounting company data.

2. From the Windows Start menu, select Programs, then

Simply Accounting, and then Install Simply Accounting
Mobile.

3. Click Yes to install (or re-install) Microsoft SQLCE 2.0. This

program is usually already running on Pocket PC devices. It
is required for Simply Accounting Mobile.

4. If a compatibility error appears, click Yes to continue.

5. Click Yes to install (or re-install) Microsoft.NET Compact

Framework. This program is usually already running on
Pocket PC devices. It is required for Simply Accounting
Mobile.

6. If the Select Destination Media window appears, choose a

location for the files that has enough space to store Simply
Accounting Mobile data (approximately 200MB).

Step 2: Set Up Synchronization Settings and Options

What is When you synchronize, information at two different locations is
synchronization? matched and made the same. During synchronization, records
that have changed in Simply Accounting since the last time you
synchronized are updated on your handheld device. At the same
time, new orders, invoices, and time slips, and changes to
customer records stored in the handheld device, are updated in
Simply Accounting.

After you install Simply Accounting Mobile, you must identify

the company data file that you will use to synchronize with your
handheld device. Then you will choose the data you want

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Part 5: Developing Your Business

transferred to your handheld device during synchronization:

customers, inventory and service items, price lists, and
employees.

To set up your Synchronization settings:

1. Connect the handheld device to the computer where you

store your Simply Accounting data.

Is Simply Accounting 2. Ensure that Simply Accounting is running in multi-user

in multi-user mode? mode, or exit the program.

Exit Simply 3. If Simply Accounting Mobile is running on your handheld

Accounting device, exit the program.
Mobile
4. On the desktop Windows Start menu, select Simply
Accounting, and then Synchronize With Handheld Device.

5. Select your language preference and if you want to display

the Synchronization window each time a handheld device is
connected to your computer, then click Next to complete the
initial synchronization.

Note: If your Simply Accounting company uses security,

you must enter your User ID and password before activating
synchronization.

Choose a language to use

for screen display.

Choose to display the

Synchronization window
automatically the next time a
handheld device is
connected to your
computer.

6. Click Next.

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Chapter 28: Working Away from the Office

Enter a name to identify your

handheld device.

Enter the location of your

Simply Accounting desktop
data.

7. Enter a description of your handheld device and the location

of the Simply Accounting company data you plan to use
remotely, then click Next. The default location of your
company data is: C:\Program Files\Winsim\Data.

8. Choose the company data you want to synchronize with

your handheld device. If you want to keep the size of the
data on your handheld device to a minimum, choose to
transfer only the information that you need. You can easily
transfer additional information later.

For example, if you are going to be working with one

customer, synchronize one customer record and their
assigned price list.

Note: You must have valid security rights to access the

records you want to synchronize. Security access is defined
in Simply Accounting.

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If you choose Sales Orders

and Invoices you can
choose the items you want
to transfer onto your
handheld device.

If you choose Time Slips you

can choose the employees
you want to transfer onto
your handheld device.

Note: All tax codes are synchronized automatically.

9. Complete the Setup Wizard to synchronize the information.

Simply Accounting Mobile remembers these settings each
time you synchronize. You can change your synchronization
options after each synchronization.

Step 3: Set Up Simply Accounting Mobile

The first time you start Simply Accounting Mobile, your
handheld device displays the Settings window. Use the Settings
window to set up the screen display language, to specify the
types of transactions you want to record, and set prefix and next
number settings for invoices and time slips. You can change
your settings at any time.

1. In the Home window tap Programs, and then Simply

Accounting Mobile.

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Chapter 28: Working Away from the Office

Choose your preferred

display language.

Check the type of

transactions to record.

If you record invoices and

time slips, enter identifying
text and sequence numbers.

2. Choose a screen display language.

3. Choose the types of transactions you want to record on your

handheld device.

4. Enter a prefix and next number for invoices and time slips. If
you do not assign a prefix or number, you must enter one
manually.

For example, enter a salesperson’s initials to use as the prefix

for all invoices entered on this handheld device, and then
look up an imported sales invoice in Simply Accounting
according to salesperson.

5. Tap Save.

If you want to change your settings later, tap the Setup tab in
the Simply Accounting Mobile Home window, and then
choose Settings.

Entering Information on a Handheld Device

Use your handheld device to enter orders, invoices, and time slip
information for safe storage until you return to the office and
synchronize.

Note: These steps are available in the on-line help for the
handheld device.

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Part 5: Developing Your Business

Entering Sales Orders and Invoices

Enter a sales order or invoice on your handheld device when
you sell goods or services while working off-site.

Note: Simply Accounting Mobile provides fields for basic order

information. When you return to the office you can modify the
order to enter the salesperson responsible for the order (unless
you entered a prefix that identifies the salesperson), shipping
information, customer early payment terms, and project
allocations.

To enter a sales order or invoice on your handheld device:

1. Tap the Sales Orders or Invoices icon.

2. Fill out the form just as you would for any sales order or
invoice (enter the date, customer name, order number, and
ship date). Note that the date of the order must fall within
the current year specified in your Simply Accounting data.

Note: You can add a new customer while entering an

invoice if you select <Add New Customer> in the Customer
field.

3. Tap the Details tab to display a detail screen, then tap Add.

4. Tap in the Item field and select an item from the inventory
item list.

5. Enter a quantity (The unit of measure and the price appear,

and the total amount is calculated automatically).

6. Assign a tax code, if applicable.

7. Tap Finish and then tap Add if you want to enter another
inventory item, or tap Save to finish entering the order or
invoice.

8. Tap the Info tab to enter another order, or tap Close.

After you synchronize, you can open the order in Simply

Accounting and add freight information, early payment terms,
identify the salesperson, and allocate the order to a project.

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Note: You can use the look up feature to review entered orders
and invoices. Transactions are stored on your handheld device
until the next synchronization.

Entering Time Slips

Time slips entered on your handheld device appear in the Time
Slips window in Simply Accounting.

1. Tap the Time Slips icon.

2. Enter the date, select an employee, and enter a new time slip
number.

3. Tap Details, then tap Add.

4. Select the customer name, service activity, and the time

spent on the activity.

5. Tap Finish to save the entry.

6. Tap Add to enter a new activity line, or tap Save to finish

entering the time slip.

After you synchronize, you can open the time slip in Simply
Accounting to enter billing and project allocation information.

Adding Customers
New customers entered in Simply Accounting Mobile are added
to Simply Accounting the next time you synchronize.

Foreign customers Note: You can only add customers to your handheld device that
can complete transactions in your home currency. Simply
Accounting Mobile does not support multicurrency transactions.

1. Tap Customers.

2. Tap the Tools tab in the bottom left corner of the screen, and
then tap Add Customer.

3. Enter or modify details in each field.

4. Tap Save.

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Part 5: Developing Your Business

Looking Up Orders, Invoices, and Time Slips

You can use the lookup feature in Simply Accounting Mobile to
review and adjust orders, invoices, and time slips entered on the
handheld device after the last synchronization Simply
Accounting Mobile does not store transactions on your handheld
device after synchronizing.

1. Tap the Sales Orders, Invoices, or Time Slips icon.

2. Tap the Lookup button.

3. Highlight the order or time slip you want to review, then tap
Select to open the transaction.

4. To modify the transaction, tap Details, then tap Modify and

make your changes.

5. To add a new detail line, tap Details and then tap Add.

6. To save your changes, tap Finish, then Adjust, and then OK,
or tap Close to exit without saving.

Deleting Transactions and Customer Records

Sales orders, invoices, If you do not want a sales order, invoice, or time slip entered on
and time slips your handheld device, delete it before synchronizing.

1. Tap Sales Orders, Invoices, or Time Slips.

2. Tap Lookup and select the transaction you want to delete.

3. Tap Remove.

4. Tap Yes to confirm deletion of the entry.

Customers You can delete a new customer entered on your handheld device
before synchronizing to prevent it from appearing in Simply
Accounting. However, if you delete an existing customer in
Simply Accounting Mobile and then synchronize, the customer
is not deleted in Simply Accounting. You must modify your
synchronization settings if you do not want a deleted customer

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Chapter 28: Working Away from the Office

to reappear on your handheld device the next time you

synchronize.

1. Tap Customers.

2. Tap Tools and then tap Remove Customer.

3. Tap Yes to confirm deletion of the customer.

Transfer Data to Simply Accounting

When you return to the office you can quickly and easily transfer
any new transactions or updated customer information stored
on your handheld device to Simply Accounting using the
Synchronization With Handheld Device feature.

During synchronization, new items, customers, and employees

that were added to Simply Accounting since the last
synchronization are transferred to your handheld device, as well
as any new price lists and tax codes. Note that transaction
records (sales orders, invoices, and time slips) entered in Simply
Accounting are not transferred to Simply Accounting Mobile.

Is Simply Accounting 1. Ensure Simply Accounting is in multi-user mode.

in multi-user mode?
Exit Simply 2. If you are running Simply Accounting Mobile on your
Accounting Mobile handheld device, exit the program.

3. Connect your handheld device to the desktop.

4. If the Synchronize window does not appear automatically,

open the desktop Start menu, select Simply Accounting, and
then Synchronize With Handheld Device.

5. If you store data for multiple companies on one handheld

device, make sure the correct data path is identified.

6. Click Next to start synchronizing. Review the status report

for errors. The handheld device also provides you with a
status report. If any errors appear, refer to the next section
for tips on fixing errors.

7. When synchronization is finished, click Next.

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8. Click Yes if you want to change your synchronization

settings, or click No to complete the synchronization.

If you need help modifying your synchronization settings,

click the Synchronization Wizard’s Help button.

Fixing Synchronization Errors

If an error appears on the synchronization report, make the
required changes to your Simply Accounting Mobile
transactions and/or records before completing synchronization.

Transactions that contain errors are not synchronized; they are

stored on the handheld device until you adjust and synchronize
them successfully.

If you see this error: Do this:

Waiting for response. Check that your handheld device is
connected to your desktop
computer.
No data to synchronize Check that you have completed the
initial synchronization to install data
on your handheld device.
Cannot open your Simply Ensure that Simply Accounting is
Accounting data. not running on your desktop. If it is
running, set it to run in multi-user
mode.
Error reading the Ensure Simply Accounting Mobile is
company file. not running on your handheld
device. Check that you have entered
the correct data path in the
Synchronization wizard.
Invalid date. Ensure that all transaction dates fall
within the current fiscal year as
specified in your Simply Accounting
data.

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Index

A Accounting Manual. In the Home window on

the Help menu, choose Simply Accounting
Access rights. See: Passwords Manuals, then Accounting Manual
Access to Simply Accounting data on a Accounting terms, 3–30
network, 7–1 Accounting user, 3–35
Account Accounts
for exchange-rate differences, 10–2 adding (overview), 2–3
Account classes adding (steps), 2–10
assigning, 2–13 adding budget information, 6–2
overview, 2–12 adding on the fly, 22–18
Account history, 2–17 Bank account, 2–13
adding, 11–2 credit-card, adding, 4–1
Account mapping, 24–14, 24–20 for inventory and service items, 9–3
See also: Consolidated companies predefined (template), 2–1
Account names and numbers removing, 2–18
keeping track of changes, 2–17 setting up, 2–1 to 2–22
Account numbering, 2–4 setting up (overview), 2–1
changes in, 2–17 using with departments. See: Departments
expanded, 2–5 Actual time, 18–5
Account numbers Adding
on reports, 23–4 account for exchange-rate differences,10–2
Account reconciliation account history, 11–2
credit cards, 2–22 accounts (overview), 2–3
defined, 2–19 accounts (steps), 2–10
discrepancies, 20–11 to 20–13 accounts for inventory and service items,
first time, 2–20 9–3
foreign currency, 10–7 budget information to the accounts, 6–2
import online statements, 20–8 credit-card accounts, 4–1
interest and service charges, 20–10 credit-card information, 4–2
manual reconciliation, 20–9 customers, 13–1 to 13–4
setup (overview), 2–19 employees, 15–1 to 15–11
setup (steps), 2–19 to 2–21 exchange rate, 10–5
Account types exchange rate on the fly, 10–6
to format financial statements, 2–3 foreign-currency bank account, 10–7
Accountant's copy, 21–11 historical information, 11–2
cancelling, 21–13 historical information for customers, 11–5
importing entries, 21–13 historical information for vendors, 11–3
Accounting by departments, 2–6 inventory history, 11–8
on the fly, 22–18

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Adding (continued) Analysis reports

payroll history, 11–6 customer sales, 25–3
prices to price lists, 9–10 inventory and services, 26–2
principal foreign-currency bank account, Assembly
10–7 of inventory from other items, 9–6, 9–12
project history, 11–9 See also: Item assembly
projects, 5–4 Assigning account numbers, 2–4
users, 3–39 Audit trail
vendors, 12–1 to 12–5 reports, 21–13
Adding or changing a system administrator’s Automatically downloading tax tables, 15–21
password, 3–38 Automatically Refresh List option, 3–30
Additional Costs field Automatically Save Changes option, 3–30
in item assembly, 9–14
Additional Info fields, 3–23
for transactions, 3–25
Additional information
B
accounts, 2–10
inventory items, 9–6 Back orders
projects, 5–4 on purchases, 12–8
Adjusting on sales, 13–7
inventory levels, 20–13 Backdating entries, 3–2
payments to payroll authorities, 12–20 Background colours on screens
prepayments, 12–22 customizing, 3–29
time slips, 18–11 Backing up, 19–2 to 19–4
See also: Changing reminders, 19–3
Adjusting entries in previous year, 21–11 restoring a backup, 19–4
Adjustments, 20–13 Bad debts, 13–22
Advanced topics. In the Home window on the Balance sheet, 24–3 to 24–6
Help menu, choose Simply Accounting Bank account, 2–13
Manuals, then Advanced Topics Bank account, foreign
Advances. See: Pay advances adding, 10–7
Advice Bank accounts
hiding, 23–3 for direct deposits, 15–7
Aging periods (customers), 3–18 transferring funds, 16–3
Aging periods (vendors), 3–18 Bank deposits, 16–1
Allocate button, in budgeting, 6–3 Basic information
Allocating to multiple departments, 15–13, entering (overview), 3–1
15–15 Batch printing, 22–8
Allocating to projects, 17–1 to 17–2 turning on the option, 3–20
by percentage, amount, or hours, 5–3 Batch processing and printing, 22–2
time slips, 18–6 Batches
See also: Projects viewing reports in, 22–10
Allow Inventory Levels To Go Below Zero Benefits on paycheques, 15–4
option, 9–2 vacation, 15–16
Allow transactions in previous year, 3–2 Benefits per period, 15–4
Allow transactions in the future, 3–2 deducting GST or QST, 15–9
American version of Simply Accounting, 1–1 Bill of materials, 9–6, 9–12, 9–13

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Bill of materials (continued) Canadian version, 1–1

setting up, 22–21 Cancelling. See also: Changing
Billable time, 18–5 accountant's copy, 21–13
Bills customer deposits, 13–18
credit card, 14–1 employee paycheques, 15–18
miscellaneous, 14–2 miscellaneous transactions, 16–5
Bitmaps miscellaneous transactions manually, 16–6
adding to inventory records, 9–6 other payments, 14–3
Budget period payments from customers, 13–16
annual, 6–3 payments from customers manually,13–17
projects, 6–4 payments to vendors, 12–19
Budgeted profit payments to vendors manually, 12–20
for projects, 6–4 prepayments, 12–22
Budgeting tip, 6–2 purchase invoices, 12–16
Budgets purchase invoices manually, 12–18
adding information to the accounts, 6–2 purchase orders or quotes, 12–17
checking, 20–15 sales invoices, 13–13
Comparative Income Statement report, sales invoices manually, 13–15
20–15 sales orders or quotes, 13–15
distributing total evenly to all periods, 6–3 Cash flow projection, 24–8
for projects, setting up, 6–4 Changing
modifying, 6–2 a system administrator’s password, 3–38
Project Budget report, 20–15 account names and numbers over several
setting up, 6–1 years, 2–17
turning off, 6–1 customer deposits, 13–18
updating, 20–16 employee paycheques, 15–18
Building inventory from other items, 9–6, 9–12 exchange rate, 10–5
Business calendar, 22–3 inventory levels, 20–13
Business Number, 3–3 miscellaneous transactions, 16–5
Business performance, measuring, 22–7 miscellaneous transactions manually, 16–6
Buttons other payments, 14–3
graphs toolbar, 27–1 payments from customers, 13–16
See also: back cover of the User Guide payments from customers manually,13–17
Buying. See: Purchases payments to payroll authorities, 12–20
payments to vendors, 12–19
payments to vendors manually, 12–20
prepayments, 12–22
C prices on price lists, 9–10
purchase invoices, 12–16
Calculating amounts using the exchange rate, purchase invoices manually, 12–18
10–5 purchase orders or quotes, 12–17
Calculating foreign prices on invoices, 10–9 records, 20–1
Calendar sales invoices, 13–13
in the Daily Business Manager, 22–3 sales invoices manually, 13–15
Calendar sales orders or quotes, 13–15
pop-up, in date fields, 22–22 time slips, 18–11
Calendar year-end, 21–8 user password, 3–41

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Changing (continued) Consolidated companies

user’s rights to use Simply Accounting add or delete a subsidiary, 24–20
data, 3–42 miscellaneous transactions, 24–20
Charge duty on items purchased (vendors), modify account mapping, 24–20
12–3 modifying accounts, 24–18
Chart of accounts. See: Accounts reports, 24–19
Check. See: Cheque types of reports, 24–19
Check for duplicate invoices or receipts, 3–21 updating, 24–19
Checking data integrity. See: Data integrity working with, 24–18
Checklists, 20–16, 22–6 to 22–13 year-end reports, 21–10
creating or changing, 22–12 Consolidating
displaying, 22–12 about, 24–13
displaying automatically, 22–12 account mapping, 24–14
Cheque numbers and departments, 24–13
renumbering, 3–21 before you start, 24–14
Class Options tab, in account records, 2–13 reports, 24–13
See also: Account classes steps, 24–15
Clearing, 23–7 to 23–10 Converting data
account reconciliation, 23–9 troubleshooting, 19–5
automatically, 23–10 Correcting
direct deposit data, 15–24, 23–10 customer deposits, 13–18
employee details, 23–9 inventory levels, 20–13
imported online statements, 23–9 payments from customers, 13–16
inventory tracking, 23–9 payments from customers manually,13–17
invoice lookup data, 23–9 payments to payroll authorities, 12–20
lookup data for remittance payments, 23–9 payments to vendors, 12–19
lookup data for time slips, 23–9 payments to vendors manually, 12–20
notes, 23–9 prepayments, 12–22
tax details, 23–9 purchase invoices, 12–16
Closing records purchase invoices manually, 12–18
reminder to save, 3–30 purchase orders or quotes, 12–17
Codes for sales taxes, 3–6 sales invoices, 13–13
See also: Tax codes sales invoices manually, 13–15
Colours sales orders or quotes, 13–15
customizing on reports, 3–28 time slips, 18–11
screen display, 3–29 See also: Changing
Comments Cost centres. See: Projects
hiding in Miscellaneous Transactions Cost of Goods Sold account, 9–3
window, 23–5 Cost of inventory, 9–2
on printed forms, 3–21 Courier. See: Shipments
Compact database, 20–1 Creating
Company Information screen, 3–3 price lists, 9–9
Company name, on reports, 3–3, 3–4 Credit cards
Company type adding information about, 4–2
choosing, 3–3 checking statements, 2–22
what is, 3–2 fees charged, 4–2
paying bills, 14–1

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Credit cards(continued) Data

receiving money from sales, 20–6 backing up, 19–2
reconciling, 2–22 enhancing performance, 20–1
setting up, 4–1 to 4–3 saving, 19–4
Credit note using in other programs, 3–38
issuing, 13–20 Data folder
Credit-card accounts for Simply Accounting, 7–1
adding, 4–1 Data integrity
Current Earnings account checking, 19–1
defined, 2–4 correcting errors, 19–1
Customer statements Date fields, 3–3
e-mailing to customers, 3–22 pop-up calendar, 22–22
Customers unavailable if finished entering history,
adding, 13–1 to 13–4 3–3, 3–4
adding on the fly, 22–18 Dates, 3–2
adding sales and receipts history, 11–5 changing format, 3–32
analysis report, 25–3 Daily Business Manager, 22–3
changing, 20–1 long and short format, 3–32
deposits, 13–11 Deductions. See: Payroll deductions
entering historical balances, invoices, and Deductions from paycheques, 15–5
payments, 11–5 GST or QST on benefits, 15–9
entering on a handheld device, 28–9 Deleting
evaluating, 25–1 accounts, 20–3
exemptions from sales taxes, 3–8 employees, 20–4
internal, 13–2 inventory and service items, 20–4
memos, 22–6 projects, 20–5
removing, 20–2 records, 20–5
returns, 13–19 to 13–21 transactions or customer records in Simply
setting up to use foreign currency, 10–10 Accounting Mobile, 28–10
tax codes, 3–8 vendors or customers, 20–4
Customizing See also: Removing
colours and fonts on reports, 3–28 Departmental accounting, 2–6
display settings, 3–29 Departments
graphs, 27–1 to 27–6 allocating to, 15–13, 15–15
sales invoices, 23–2 changing, 2–9
the Home Window, 23–5 changing names, 2–8
transaction windows, 23–1 creating, 2–7
for customers, 2–8, 13–2
for employees, 2–8, 15–2
for inventory and services, 9–4
D for vendors, 2–8, 12–2
removing, 2–8
Daily Business Manager, 22–1 Deposit slip, 16–1
batch processing and printing, 22–2 Deposit slip numbers
calendar, 22–3 Bank account, 2–13
displaying automatically, 22–1 Deposits
to-do lists, 22–4 bank, 16–1

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Deposits (continued) Employee options

deposit slip, 16–1 job categories, 3–26
See also: Prepayments Employees
Deposits from customers, 13–11 adding, 15–1 to 15–11
cancelling, 13–18 adding direct deposit bank accounts, 15–7
changing, 13–18 adding on the fly, 22–18
Detailed Description tab in inventory records, benefits, 15–4
9–6 benefits per period, 15–4
Differential rate, 3–12, 3–13 changing, 20–1
Dimmed options, 19–5 deductions, 15–5
Direct deposit, 15–21 entering historical balances, income, and
adding bank accounts for, 15–7 deductions, 11–6
and processing paycheques, 15–22 entitlements, 15–6
clearing direct deposit data, 15–24 GST on benefits, 15–9
printing direct deposit stubs, 15–22 income tab, 15–4
printing the direct deposit log, 15–23 linking to a single wage expense account,
processing, 15–22 15–5
setting up for, 15–22 memos, 22–6
submitting the direct deposit file, 15–23 paying, 15–11, 15–14
Discounts on purchases, 3–18 removing, 20–2
Discounts on sales, 3–18 taxes, 15–5
Display preferences, 3–29 time slips, 18–9
Drilldown, 22–16 Employees options
Dual currency. See: Multiple currencies job categories, 15–2
Duplicate invoices and receipts, 3–21 Employer Health Tax, 3–11
Duties. See: Import duties Employment Insurance, 3–11
Duty on purchases, 12–3 Enhancing performance, 20–1
Entering
customers in Simply Accounting Mobile,
28–9
E miscellaneous transactions, 16–3
purchases, 12–5
Earliest transaction date, 3–2 sales, 13–4
Early-payment terms sales orders and invoices in Simply
for customers, 13–2 Accounting Mobile, 28–8
for vendors, 12–2 time slips, 18–4
e-file. See: Electronic filing time slips in Simply Accounting Mobile,
EI. See: Employment Insurance 28–9
EI insurable earnings, 21–17 Entering history
EI insurable hours, 3–11 troubleshooting, 19–6
Electronic filing, 21–15 Entitlements
Relevé 1 slips, 21–18, 21–22 for employees, 15–6
T4 slips, 21–17, 21–18 Exchange rate
E-mail options adding, 10–5
setting up, 3–20 to 3–23 adding on the fly, 10–6
E-mailing to vendors and customers, 3–22 changing, 10–5

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Exchange rate (continued) Foreign currency (continued)

how the program uses it in calculations, setting up vendors and customers to use,
10–5 10–10
looking up on a Web site, 10–5, 10–6 using the exchange rate with, 10–5
reminder to update, 10–5 See also: Multiple currencies
setting up, 10–5 Foreign prices, 10–9
Exchange-rate differences setting up vendors and customers to use,
adding an account for, 10–2 10–10
Exemptions from sales taxes, 3–9 Foreign prices on invoices
company, 3–5 deciding which to use, 10–8
inventory items, 3–9 Foreign transactions
vendors and customers, 3–8 rounding differences, 10–2
Expense groups Forms
employees, 3–16, 15–3 automatic numbering, 3–21
set up, 3–16 printing (testing), 8–2
Expenses setting up options, 3–20
allocating to projects, 17–1 to 17–2 warning before processing, 3–21
graphs, 24–7 See also: Invoices, names of individual
forms
Full accounting rights, 3–36, 3–37
FUTA. See: Federal Unemployment Tax Act
F

Federal ID Number, 3–4

Federal Unemployment Tax Act, 3–13 G
Filing
Relevé 1 slips, 21–15 General Index of Financial Information (GIFI),
T4 slips, 21–15 2–11
Financial history, 2–17 GIFI codes, 2–11
dates available, 3–3 GIFI export data, 21–10
Financial statements Goods and services. See: Inventory and service
formatting, 2–3 items
Finish entering history, 11–10 Graphs
Finish Entering History command, 11–2 colour, 27–2, 27–5
Fiscal year-end, 21–8 customizing, 27–1 to 27–6
Flags, 1–1 Expenses Vs Budget, 20–16
Flat fee for service activities, 18–3 exploding pie chart, 27–4
Fonts legend, 27–3
customizing on reports, 3–28 revenues and expenses, 24–7
Foreign currency, 10–1 Sales Vs Budget, 20–16
bank account toolbar buttons, 27–1
adding, 10–7 Group accounts, to format financial statements,
exchange-rate differences, 10–2 2–4
for vendors, 12–2 Group heading, to format financial statements,
reconciling accounts, 10–7 2–3
setting up, 10–4 Group total, to format financial statements, 2–4

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GST Home window (continued)

on employee benefits, 15–9 See also: Quick Start manual
period-end, 21–1 to 21–7 Home-currency amount
calculating using the exchange rate, 10–5
Hours per period, 15–4
Hours, insurable for EI, 3–11
H HST
period-end, 21–1 to 21–7
Handheld device. See: Simply Accounting See: Harmonized Sales Tax
Mobile
Hiding
account numbers on reports, 23–4
automatic advice, 23–3 I
comments column in Miscellaneous
Transactions, 23–5 Icon windows
icon windows, 23–6 hiding, 23–6
modules, 23–3 See also: Quick Start manual
parts of a window, 23–1 Importing
records, 23–1 Simply Accounting Mobile data. See:
sections of the Home window, 23–3 Synchronizing
specific window features, 23–5 Inactive records, 23–1
Hiding transaction windows Income
Customers & Sales, 3–18 employees, 15–4
Vendors & Purchases, 3–18 taxable, 3–11, 3–13
Historical account names and numbers, 2–17 types, 3–11, 3–13
Historical accounts Income statement, 24–1 to 24–3
deleting, 2–18 comparative, 20–15
Historical financial year dates, 3–3, 3–4 Installing
Historical information, 11–1 Simply Accounting Mobile, 28–2
adding, 11–2 Installing Simply Accounting. See: Quick Start
Customers and Sales module, 11–5 manual
defined, 11–1 Insurable hours, 3–11
finish entering, 11–10 Interest charges on sales invoices, 3–18
Inventory and Services module, 11–8 Internal customer, 13–2
keeping financial history, 2–17 Internal service activity, 18–3
Payroll module, 11–6 International coverage, 1–1
Project module, 11–9 Internet
Vendors and Purchases module, 11–3 importing online statements, 20–8
when to add, 11–2 looking up exchange rates, 10–6
History Internet
keeping for 100 years, 23–8 tracking shipments, 3–19, 22–18
History symbol, 11–1 Inventory
Home currency, 10–4 adjusting levels, 20–13
defined, 10–1 allow negative quantities, 9–2
Home window assembly, from other items, 9–6, 9–12
display hidden sections, 23–4 cost calculation, 9–2
hiding sections, 23–3 multiple locations, 9–3

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Inventory (continued) K
negative quantities, 9–3
profit-evaluation method, 9–2
setting up, 9–1 Keyboard shortcuts. See: Quick Start manual
units of measure, 9–5, 9–8
Inventory and service items
adding accounts for, 9–3 L
adding historical balances, 11–8
adding longer descriptions and pictures,
Language
9–6
customer preference, 3–33
adding on the fly, 22–18
switching to another, 3–33
adding service activities, 18–3
user preference, 3–33
additional information, 9–6
Language preference
changing, 20–1
for handheld device, 28–4
item assembly, 9–6, 9–12
Latest transaction date, 3–2
linked accounts, 9–6
Legend for graphs, 27–3
removing, 20–2
Linked accounts
Inventory and services list
inventory, 9–6
sorting by item number or description, 9–2
overview, 2–14
Inventory asset account, 9–3
payroll, 3–14
Inventory items
removing, 2–15
bills of materials, 22–21
setting up, 2–14 to 2–15
exempt from sales taxes, 3–9
wage expense account, 15–5
sales taxes, 3–9
Linked Accounts wizard, 2–14
Inventory transfers. See: Item assembly
List button, 3–30
Invoices
Location
duplicate, 3–21
inventory, 9–3
entering on a handheld device, 28–8
Looking up
for service activities(time and billing),18–7
deposit slips, 22–13
foreign prices on, 10–8
invoices, orders, or quotes, 22–13
looking up details, 22–13
paycheques, 15–17
Invoices, historical
payments and receipts, 22–13
adding to Customers and Sales module,
time slips, 18–10
11–5
Looking up transactions or records in Simply
adding to Vendors and Purchases module,
Accounting Mobile, 28–10
11–3
Item assembly, 9–12
bill of materials, 9–6, 9–13, 22–21
processing transactions, 9–6, 9–12 M

Manuals, online. See: Quick Start manual

J Manufacturing inventory from other items,
9–6, 9–12
Mapping. See: Account mapping
Job categories, 15–2
Margin (profit-evaluation method for
setting up, 3–26
inventory), 9–2
Job costing. See: Projects

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Margins (printer settings) Opening balances for projects, 11–10

lining up, 8–3 Opening quantity and value for inventory,11–8
negative, 8–4 Orders. See: Purchase orders; Sales orders
Markup, 9–2
Measuring business performance, 22–7
Memo tab, 22–6
Microsoft Outlook, synchronizing with Simply
P
Accounting, 22–22, 22–23
Miscellaneous transactions, 16–3 Passwords, 3–31 to 3–45
changing or cancelling, 16–5 access rights to different parts of the
changing or cancelling manually, 16–6 program, 3–35
entering, 16–3 access rights to time slips, 3–35
Modify Accounts wizard, 2–3 adding a user, 3–39
Modules adding or changing a system
hiding, 23–3 administrator’s password, 3–38
Multi-period reports, 23–8 case-sensitive, 3–39
Multi-user mode, 7–3 changing for a user, 3–41
numbers and letters, 3–39
removing a user’s, 3–43
removing system administrator’s, 3–39,
N 3–45
restoring system administrator’s, 3–45
Negative inventory levels, 9–2, 9–3 system administrator's rights, 3–37
Negative margins (printer settings), 8–4 using Simply Accounting with other
Network products, 3–38
number of users, 7–1 See also: User
setting up Simply Accounting on, 7–1 Pay advances, 15–11
using Simply Accounting on, 7–1 end of calendar year, 21–8
New Business Guide. See: Quick Start manual Paycheques
Next cheque number, 3–21 adding time slips, 18–9
Next deposit slip number changing or cancelling, 15–18
setting for Bank account, 2–13 looking up, 15–17
No-entry symbol, 3–37 printing in a run, 15–14
Non-accounting terms, 3–30 printing individually, 15–11
Notes Paying
adding to the business calendar, 22–3 credit-card bills, 14–1
Numbering on forms, 3–21 other bills, 14–2
Paying employees
by direct deposit, 15–11, 15–14
from time slips, 18–9
O in a run, 15–14
individually, 15–11
One-time customer troubleshooting, 19–6
on sales, 13–5 Payment options
One-time vendor overview, 3–17
on purchases, 12–6 Payment terms on purchase invoices, 3–18
Online documentation. See: Quick Start manual Payment terms on sales invoices, 3–18

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Payments Price lists, 9–9

for goods and services, 12–11 and quotes, 13–8
from customers, cancelling, 13–16, 13–17 importing and exporting, 9–10
looking up, 22–13 naming, 9–9
prepaying, 12–12 Prices on invoices, 10–8
receiving on sales, 13–11 Prices, foreign, 10–9
to payroll authorities, 12–13 Prices, in inventory and service records, 9–5
to vendors, cancelling, 12–19, 12–20 Principal bank account, foreign
Payments, miscellaneous adding, 10–7
correcting or cancelling, 14–2 Printers
Payroll fitting print on page, 8–3, 8–4
allocating to multiple departments, 15–13, lining up margins, 8–3
15–15 negative margins, 8–4
expense groups, 3–16, 15–3 recurring transactions, 22–6
income, benefits, and reimbursements, selecting for reports, 3–29
3–11 setting up, 8–1
linked accounts, 3–14 troubleshooting, 19–5
payroll ID, 15–1 Printing
unlocking Auto Payroll, 15–1 batch-processed transactions, 22–2
Payroll authority direct deposit log, 15–23
adding, 12–1 direct deposit stubs, 15–22
adjusting payments to, 12–20 in batches, 22–8
Payroll deductions paycheques in a run, 15–14
calculated before or after tax, 3–14 paycheques individually, 15–11
flat amount or percentage, 3–12, 3–14 Printing in batches
Payroll options turning on the option, 3–20
change income and deduction names,3–10 See also: Batch printing
enter Canadian information, 3–11 Printing options
enter U.S. information, 3–13 setting up, 3–20 to 3–23
setting up, 3–10 to 3–14 Processing
Payroll records, historical direct deposit, 15–22
adding, 11–6 in batches, 22–2
Pensionable earnings, 21–17 Product Analysis report, 26–2
Period-end Production of inventory from other items, 9–6,
GST, HST, QST, 21–1 to 21–7 9–12
Personal tax credits subject to indexing Profit
updating, 20–5 budgeted for projects, 6–4
Pictures Profit centres. See: Projects
adding to inventory records, 9–6 Profit-evaluation method
Pie chart, 27–4 inventory, 9–2
Pop-up calendar, in date fields, 22–22 Project allocation option
Prepaying goods and services, 12–12 turning on, 5–2
Prepayments Project budgets
adjusting, 12–22 setting up, 6–4
See also: Deposits Project module
Preprinted forms renaming, 5–2
setting up options for, 3–20

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Project records, historical Q

adding, 11–9
Projections
cash flow, 24–8 QST
Projects on employee benefits, 15–9
adding, 5–4 period-end, 21–1 to 21–7
adding on the fly, 22–18 Quebec Health Services Fund factor, 3–11
allocating revenues and expenses, 17–1 to Quick Start manual. In the Home window on
17–2 the Help menu, choose Simply Accounting
budget period, 6–4 Manuals, then Quick Start
budgeted profit, 6–4 Quotes
entering historical balances, 11–9 and price lists, 13–8
opening balances, 11–10 See: Purchase quotes; Sales quotes
setting up, 5–1 to 5–4
warning if full amount not allocated, 5–3
Purchase invoice confirmations R
e-mailing to vendors, 3–22
Purchase invoices
Receipts, 13–10
payment terms, 3–18
adjusting, 12–19, 13–16, 13–18
Purchase orders, 12–8
duplicate, 3–21
based on a quote, 12–9
looking up, 22–13
cancelling, 12–17
Receiving
e-mailing to vendors, 3–22
items from purchase order or quote, 12–10
looking up, 22–13
money from credit-card sales, 20–6
receiving items, 12–10
payments from customers, 13–11
turning off option to use, 3–19
Reconciliation. See: Account reconciliation
Purchase quotes, 12–9
Reconciling accounts. See: Account
cancelling, 12–17
reconciliation
looking up, 22–13
Re-consolidating. See: Consolidated companies
order items, 12–9
Record of Employment form (Canada). See:
receiving items, 12–10
ROE
turning off option to use, 3–19
Records
Purchases, 12–5 to 12–22
adding on the fly, 22–18
back orders, 12–8
deleting in Simply Accounting Mobile,
cancelling, 12–16, 12–17
28–10
entering, 12–5
setting to inactive, 23–1
looking up, 22–13
Recurring transactions, 22–19 to 22–22
ordering, 12–8
changing, 22–21
ordering based on a quote, 12–9
in the To-Do List, 22–6
paying for, 12–11
storing, 22–20
prepaying, 12–12
using, 22–20
quotes, 12–9
Purchases and payments history Refunds, 13–19. See also: Returns
adding to Vendors and Purchases module, Related historical accounts, 2–17
11–3 Relevé 1 slips
electronic filing, 21–18, 21–22
filing, 21–15

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Relevé 1 slips (continued) Returns, 13–19 to 13–21

filing originals, 21–22 as a credit note, 13–20
Reminder message as a refund, 13–19
project allocation, 5–3 Revenue account, 9–3
updating exchange rates, 10–5 Revenues
when closing a record without saving, allocating to projects, 17–1 to 17–2
3–30 graphs, 24–7
Reminders Reversing. See: Cancelling
backing up, 19–3 Rights. See: Passwords
See also: To-Do Lists; Checklists Rights to use data
Remittances changing, 3–42
adjusting, 12–20 Rights to use Simply Accounting data in other
Removing programs, 3–38
accounts, 2–18 RL-1 slips. See: Relevé 1 slips
linked accounts, 2–15 Rounding differences on foreign transactions,
records, 20–2 10–2
security, 3–44
user, 3–44
user password, 3–43
Renumbering cheques, 3–21
S
Repair Security command, 3–45
Report groups Sales, 13–4 to 13–10
assign templates to, 22–11 cancelling, 13–13, 13–15
setting up, 22–10 deposits, 13–11
Reports looking up, 22–13
comparative income statement, 20–15 orders, 13–7
consolidated companies, 24–19 quotes, 13–8
Customers Analysis, 25–3 receiving payment, 13–11
customizing colours and fonts, 3–28 Sales and receipts history
for audit trail, 21–13 adding to Customers and Sales module,
getting details, 22–16 11–5
multi-period, 23–8 Sales invoices
printing (testing), 8–1 adding comments, 3–21
Product Analysis, 26–2 adding time slips, 18–7
Project Budget, 20–15 customizing, 23–2
resetting options, 22–17 e-mailing to customers, 3–22
sales taxes, 21–1 job categories, 3–26
setting up groups, 22–10 payment terms, 3–18
time slip, 18–13 Sales order confirmations
viewing in batches, 22–10 adding comments, 3–21
See also: Advanced Topics manual e-mailing to customers, 3–22
Requirements Sales orders, 13–7
Simply Accounting Mobile, 28–1 cancelling, 13–15
Restoring completing, 13–10
a backup, 19–4 entering on a handheld device, 28–8
a damaged security file, 3–45 looking up, 22–13
system administrator’s password, 3–45

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Sales orders (continued) Setting up (continued)

turning off option to use, 3–19 accounts (overview), 2–1
Sales quotes, 13–8 bills of material, 22–21
adding comments, 3–21 budgets, 6–1
e-mailing to customers, 3–22 credit cards, 4–1 to 4–3
looking up, 22–13 direct deposit, 15–22
turning off option to use, 3–19 employee direct deposit bank accounts,
Sales receipts 15–7
e-mailing to customers, 3–22 exchange rate, 10–5
Sales taxes foreign currency, 10–4
entering for inventory items, 9–6 inventory, 9–1
exempt items, 3–9 linked accounts. See: Linked
exempt vendors and customers, 3–8, 3–9 accounts:setting up
inventory items, 3–9 passwords, 3–31 to 3–45
refund, 21–6 payroll options, 3–10 to 3–14
reports, 21–1 price lists, 9–9
setting up, 3–4 printers, 8–1
See also: Tax codes project budgets, 6–4
Save a Copy, 19–4 projects, 5–1 to 5–4
Save As, 19–4 sales taxes, 3–4
Saving records shippers, 3–19
reminder when closing, 3–30 Setting Up
Screen display Simply Accounting Mobile, 28–6
customizing, 3–29 Setting up Simply Accounting
See also: Display adding basic information, 3–1
SDI. See: State Disability Insurance on a network, 7–1
Search overview, 1–1
advanced, 22–15 Settings
basic, 22–15 negative printer margins, 8–4
Quick Search, 22–16 Shipments
Section heading, to format financial statements, tracking, 22–18
2–3 Shippers
Section total, to format financial statements,2–4 setting up, 3–19
Security Simply Accounting
access to time slips, 3–35 Canadian and U.S. versions described in
removing, 3–44 one manual, 1–1
See also: Passwords installing. See: Quick Start manual
Security file, damaged learning how to use. See: Quick Start
restoring, 3–45 manual
Selling. See: Sales new features. See: What’s New in Simply
Service activities Accounting manual
adding records, 18–3 setting up (overview), 1–1
flat fee, 18–3 setting up on a network, 7–1
Services. See: Inventory and services starting. See: Quick Start manual
Session date, 3–2 updating from an older version. See:
Setting up Quick Start manual
accounts, 2–1 to 2–22 using on a network, 7–1

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Simply Accounting data Synchronizing

folder, 7–1 resolving errors, 28–12
rights to use in other programs, 3–38 steps, 28–11
Simply Accounting Mobile with Microsoft Outlook, 22–22, 22–23
about, 28–1 Sysadmin. See: Passwords
adding customers, 28–9 System administrator
deleting transactions or customer records, access rights, 3–37
28–10 what is, 3–35
entering sales orders and invoices, 28–8 See also: Passwords
entering time slips, 28–9 System administrator’s password
handheld device settings, 28–6 adding or changing, 3–38
installing, 28–2 restoring if security file is damaged, 3–45
language preference, 28–4
look up function, 28–10
requirements, 28–1
synchronization, 28–3
T
synchronization errors, 28–12
synchronization settings, 28–3 T4 slips
transferring data to Simply Accounting, electronic filing, 21–17, 21–18
28–11 filing, 21–15
Simply.ini file, 7–1 filing changes, 21–22
Single-user mode, 7–3 filing originals, 21–18
Spoilage, 20–13 T5018 forms (Canada), 21–7
State Disability Insurance, 3–13 T518 forms (Canada), 12–2
State Unemployment Tax Act, 3–13 Tax. See also: Sales taxes
Statement of Cash Flows, 24–10 Tax codes, 3–6
importance of account classes, 2–12 for new vendors and customers, 3–8
Statements. See: Customer statements for vendors and existing customers, 3–8
Statistics tab See also: Sales taxes
customer records, 11–5 Tax exemptions, 3–8
inventory and services records, 11–8 Tax tables, 15–21
vendor records, 11–3 Taxation
Status bar. See: Quick Start manual end of GST, HST, QST period, 21–1 to 21–7
Subgroup accounts, to format financial paycheques, 15–5
statements, 2–3 tax tables, 15–21
Subgroup total accounts, to format financial updating personal tax credits subject to
statements, 2–4 indexing, 20–5
Submitting Taxes
a direct deposit data file, 15–23 changing in purchases, 12–7
Subsidiary company. See: Consolidated changing in sales, 13–6
companies payroll, 15–5
SUTA. See: State Unemployment Tax Act sales tax refund, 21–6
Symbols Templates, 2–1
history, 11–1 Terminology
no entry, 3–37 modifying names, 3–31
view only, 3–37 use non-accounting terms, 3–30
Synchronization, defined, 28–3

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Testing Typical set of accounts, 2–1

forms printing, 8–2
pagination in printing, 8–2
report printing, 8–1
Third-party products, 3–38
U
Time slip entry user, 3–35
Time slips U.S. version of Simply Accounting, 1–1
access rights, 3–35 Units of measure for inventory, 9–5, 9–8
adjusting, 18–11 Unlocking Auto Payroll, 15–1
allocating to a project, 18–6 Update price lists, 9–10
custom forms, 18–6 Updating
entering, 18–4 budgets, 20–16
entering on a handheld device, 28–9 personal tax credits subject to indexing,
job categories, 3–26 20–5
looking up, 18–10 price lists, 9–9
on invoices, 18–7 to the latest version, 19–5
on paycheques, 18–9 Updating exchange rates
reports, 18–13 displaying a reminder, 10–5
timer, 18–5 Updating from an older version of Simply
See also: Time and billing Accounting. See: Quick Start manual
Time, entering, 18–5 User
Timer, 18–5 adding, 3–39
To-do lists, 22–4 changing password, 3–41
displaying, 22–5 changing rights, 3–42
Memo tab, 22–6 names and passwords, 3–39
Toolbar removing, 3–44
graphs, 27–1 removing password, 3–43
Tracking shipments, 22–18 required if running on a network, 7–2
setting up, 3–19 See also: Passwords
Transaction date, 3–2 Using Simply Accounting data in other
Transaction windows programs
changing terminology, 3–31 security settings, 3–38
hiding, 3–18 Using Simply Accounting on a network
Transactions setting user preferences, 3–29
item assembly, 9–6, 9–12
miscellaneous, 16–3
payments, 14–1
V
purchases, 12–5
receipts, 13–10
recurring, 22–19 to 22–22 Vacation pay
sales, 13–4 checking what is owed, 15–17
Transferring paying out, 15–16
Simply Accounting Mobile data to Simply setting for the employee, 15–4
Accounting, 28–11 Variance account, 9–3
Transferring funds between accounts, 16–3 Vendors
Troubleshooting, 19–5 adding, 12–1 to 12–5
Turning off the budget option, 6–1 adding on the fly, 22–18

Index–16 Simply Accounting

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SIM2006 ENGL Index.DOC, printed on 1/10/2006, at 11:30:49 AM. Last saved on 1/10/2006
11:30:00 AM.

Vendors (continued) Writing off

adding payroll authority, 12–1 bad debts, 13–22
adding purchases and payments history, inventory, 20–13
11–3 returned goods, 13–19
changing, 20–1
early-payment terms, 12–2
evaluating, 25–7
exemptions from sales taxes, 3–8
Y
historical balances, invoices, and
payments, 11–3 Year-end
memos, 22–6 calendar, 21–8
Options tab, 12–2 clearing old information, 23–7 to 23–10
prepayments to, 12–12 creating accountant's copy, 21–11
removing, 20–2 fiscal, 21–8
setting up to use foreign currency, 10–10 reports, 21–10
tax codes, 3–8
Viewing reports in batches, 22–10
View-only symbol, 3–37

Wage expense account, 15–5

WCB. See: Workers’ Compensation Board
Web site. See also: Internet
Weighted-moving-average, in inventory cost,
9–2
What’s New in Simply Accounting manual. In the
Home window on the Help menu, choose
Simply Accounting Manuals, then What’s
New
Windows
hiding features, 23–5
Windows used in Simply Accounting. See:
Quick Start manual
Wizards
Linked Accounts, 2–14
Modify Accounts, 2–3
Workbook. In the Home window on the Help
menu, choose Simply Accounting
Manuals, then Workbook
Working remotely. See: Simply Accounting
Mobile

User Guide Index–17

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