Financial data wizard for a new environment

After you have gone through the wizard for the general data and the environment is opened again, a message about the financial data will appear. You must record the financial data in order to use Profit Financieel.

If you have started using the environment, you can view and change the financial settings by selecting Financial / Management / Settings and Financial / Management / Administration settings.

You specify financial data, such as journals and ledger accounts, in this wizard. You only specify the journal and ledger account codes; Profit adds these journals and ledger accounts.

Note:

If you have added an environment based on a standard account schedule, then this wizard will automatically propose a lot of information. You can still change most of this data, however.

To add general limits in the Financial data wizard:

1. Enter the limits for your chart of accounts.

   For example, in a four-digit chart of accounts you use 0001 to 9999. You can only add ledger accounts with account numbers between these limits.

   Note:

   If you have added an environment based on a standard account schedule, then these limits will have already been specified and you won't be able to change them.

2. If applicable, enter the limits for your debtors and creditors.

   If you want to keep the numbers for your debtors and creditors separate, you enter separate limits for your debtors and creditors. If you do not want to use separate numbers, you can skip this step.

3. Select the period table.

   The period table contains the entry periods that you want to use.

   Note:

   You can't change the period table type later.

4. Enter the first financial year. This is not the first financial year in which you are going to make entries. Instead it is the first financial year for which you want to keep a record of historical data. This can be a financial year in the past.

   Use an imcomplete financial year if the financial year does not start on 1 January.

   Example:

   The incomplete financial year runs from 01-05-2011 to 30-04-2012.

   If you select the Financial year from start date check box, then the above-mentioned year is the 2011 financial year.

   If you don't select the Financial year from start date check box, then the above-mentioned year is 2012 financial year.

5. If you have selected period table Week or4 Weeks, then you specify in field Processing week 53 how week 53 must be processed. You have the following options:
6. Click on: Next.

To add ledger accounts and journals:

1. Enter the journal codes and account numbers. These journals and ledger accounts are added automatically if they are not already in the environment.
2. Click on: Next.

To add VAT settings:

1. Enter your organisation's VAT number.

   Note:

   Profit checks whether you have entered a correct VAT number, so it is important to enter VAT numbers accurately. VAT numbers are structured as follows:

• First two positions: NL
• Nine digits
• B
• Two digits

  example: NL123456789B01

  Note:

  Fields 'Becon' number and 'SEB' number are only important if you handle and/or submit VAT/ICP declarations for someone else.

1. Click on: Next.

To add payment settings:

1. Specify whether you use payments in progress.

   Select the Enter cred.paym. on "Payments in transit" account check box if you want to enter creditor payments on a suspense account when using automatic payments for your creditors (payment orders). In this case, payments in progress will be written off directly from the suspense account.

2. You can optimise the reading of electronic bank statements by completing theInvoice number length, Invoice number start position, Invoice number from and Invoice number up to and incl fields.

   Note:

   Using these settings, you can limit the number of options that Profit checks when processing bank statements. The more you limit the options here, the faster the processing will be.

   If you use different counter settings each year, then you must also change these settings annually. If you don't want to maintain these settings annually, then use a range from 0000 to zzzz.

3. Click on: Next.

To add payment and direct debit settings:

1. Select the Copy entry description check box if you want to include the entry description in payment files (automatic payments to creditors). If not, then the creditor's original invoice number is used.
2. Specify whether you want to include the entry description in the collection file.
3. Specify the settings for automatic collection.
4. Click on: Next.

To add reminder settings:

1. Enter a description for the reminder set.
2. Specify how you want to handle reminders.
3. Click on: Next.
4. Enter reminder periods and select the relevant reports for generating reminders.
5. Click on: Next.
6. Enter the settings for interest calculations if you want charge interest.
7. Click on: Next.

To add ICP settings:

1. Select the declaration period.
2. Enter the ICP information.

   Complete the remaining fields.

3. Click on: Finish.