Creating journal entry transaction files for Accounting CS and Creative Solutions Accounting

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If you use Accounting CS or Creative Solutions Accounting (Write-Up CS or Trial Balance CS), you can create automatic journal entries for your clients directly from Fixed Assets CS. Perform these steps once for each applicable client.

  1. Confirm the following conditions are met.
    • The Accounting CS or Creative Solutions Accounting (CSA) application must be present on your hard disk.
    • The application and client data paths between Fixed Assets CS and the accounting application must be consistent within the two applications' user preferences. (In Fixed Assets CS, see the Setup > User Preferences > File Locations tab.)
    • The client ID in Fixed Assets CS must be the same as the client ID in the accounting application and must not exceed 11 characters.
    • You must have an Accounting CS or CSA offset account for the client to reflect purchase and sale activity. We suggest you create Account #999 and name the account "Fixed Assets CS Depreciation Offset." This is a clearing account that is cleared when the journal entry is made.
    • The client's accounting processing period must not be longer than the Fixed Assets CS processing period. For example, the client cannot have a quarterly processing period in the accounting application and a monthly processing period in Fixed Assets CS.

      Note: Fixed Assets CS does not make journal entries for thirteen-period clients from Accounting CS or Creative Solutions Accounting (Write-Up CS or Trial Balance CS).

  2. Choose File > Print and print the Book or Tax Group Summary report (depending on which treatment balances you want to use to make the journal entry). Use the report to verify that each asset group's cost and accumulated depreciation beginning balances for the current period coincide with the beginning balances for the corresponding accounts in your accounting application.
  3. Choose Setup > Journal Entry Accounts to open the Journal Entry Accounts dialog.
  4. Assign a unique number from 2.00 to 99.99 in the Journal entry reference number field at the top of the dialog. This number will be used when the transaction is posted in your accounting application.
  5. To make a single journal entry for all assets, mark the Create a single journal entry for all assets checkbox. This checkbox will be marked and grayed out until an association that can be used for the journal entries (listed in step 6) has been enabled. For more information on setting up asset associations, see here.
  6. To make journal entries based on an association, select an association from the Association drop-down list. The following associations can be selected if they are enabled and if the association contains list data. However, Group is the only association available for tax years 2011 and prior.

    • Group (Default if enabled)
    • Location
    • Type
    • Division
    • Cost center
    • Department
    • Custom associations that maintain a list
  7. Mark the Journal entry for Accounting CS or Journal entry for Creative Solutions Accounting checkbox to have Fixed Assets CS create the journal entry transaction files to be imported into your accounting application.

    Note: Each checkbox is available only if the application and client data paths for Accounting CS or CSA have been entered correctly in the Setup > User Preferences > File Locations tab in Fixed Assets CS.

  8. Click the option in the Treatment group box (either Book or Tax) that Fixed Assets CS should use to create the journal entry.
  9. For each list item for the chosen association, enter the journal entry description and the applicable general ledger account number.
  10. For each asset group, enter the journal entry description and the applicable general ledger account number.
  11. Enter the Accounting CS or CSA offset account number in the Offset field.
  12. Click OK to close the Journal Entry Accounts dialog.

    Fixed Assets CS automatically creates journal entry transaction files for each period that the client processes in Accounting CS or CSA when the Fixed Asset CS client is saved or closed.

  13. (Optional) To view journal entry information that is ready to be imported into Accounting CS or CSA, choose Tasks > Display Journal Entry.
  14. To import the journal entry transaction files into your accounting application, see Importing Fixed Assets CS journal entries into Accounting CS and Creative Solutions Accounting.

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