Sage X3 Core Financials- Day 1 Path Codes Flashcards
Order of Setting up a Business in Sage X3:
1) Chart of Accounts or Plan
2) Dimension Types
3) Ledgers
4) Account Core Models
5) Companies/Sites
Defining an Account Plan in the Chart of Accounts: (GESCOA:
Path: Setup > Organizational Structure > Chart of Accounts.
The Account Plan defines:
- The Chart of Accounts Structure.
- Controls Tax Postings
- Details of Specific Accounts
- Links to Account Classes
- Linked Accounts (Reciprocal Accounts) between sites to record inter-site transactions.
- Allows generation of Reporting Codes and Inter Plan Mapping.
- Enables generation of default Dimension Types by Account Root.
NB: You must define an Account Plan before defining information such as an Actual Account, Account Class, and Dimension.
You must return to this function for additional setup.
For each COA, enter a 3 Digit Chart Code and Description, to identify the Chart of Account Structure you are defining.
Creating Account Classes:
(GESCLS)
Path: Setup > Financials > Account Classes
Account Classes are assigned to Accounts and Account Groups and determines if the Account is a Balance Sheet or P&L Account, The Default Sign and Analytic Sense.
- Account Classes represent the different sections of Financial Statements such as Assets and Liabilities.
- You can define Account Classes that represent the same section of FS such as Current Liabilities and Long-term Liabilities.
- Account Classes are Legislation Specific.
NB: A Default set of Account Class Codes are automatically created when activating a Legislation, however, new ones can be added, and existing ones can be modified.
Creating an Account: (GESGAC)
Path: Common Data > General Accounting Tables > General > Accounts.
After Defining the Accounting Plan and the Account Classes, you are ready to create Accounts.
GENERAL:
- Accounts created are associated with an Account Plan. The Account Plan is selected by clicking Chart.
- The Account Number entered at the Account Field is based on the Format defined for the Account Plan selected.
- You can create an unlimited number of Accounts for a Single Account Plan.
- A warning displays if the Account Number entered does not match the Format defined.
- Additionally, a red underline displays in the field as soon as the entry differs from the defined Format.
- To make an Account a Control Account, you must select the Control Check box.
Copying Accounts: (GESGAC)
You can copy Accounts from one Account to a New Account, making the process easier for Accounts that are similar such as Multiple Receivable Accounts or Expense Accounts.
- To copy information from an Existing Account to a New Account, simply select the Account you want to copy from and enter a new Account Number at the Account Field.
- When you Tab out of the field, it puts you in a new Status, however, all entries and selections made from the original Account are defined for the new Account.
- When you click create, you are prompted to continue with the copy process.
COPYING ACCOUNTS FROM AN ACCOUNT PLAN:
You can copy Accounts from one Account Plan or COA to Another by selecting, Copy Chart of Accounts under Functions in the upper right corner.
Grouping Control Accounts: (GESGSC)
Path: Common Data > General Accounting Tables > General > Control Groups.
We use Control Groups to group Control Accounts together under a single code for use when defining selection criteria and in inquiry functions and reports.
- For example, if you have Multiple Accounts Receivable Accounts, you can create a Control Group to combine them together making it easier to view all information in an inquiry function.
Building Account Pyramids:
Creating Account Pyramids: (GESGYM)
Path: Common Data > General Accounting Tables > General > Pyramids
Account Pyramids define a Hierarchy of Accounts that are used for Reporting purposes and created to determine how much detail is provided based on the level used in the defined Pyramid.
A Group can contain other groups or specific Account Numbers.
Eg:
- Group 1 can contain sub groups of Group 10 and Group 12 just below it. While Group 2 will have no Sub groups.
- Group 10, can then have below it, sub Groups of Group 101 on the left and 102 on the right below it.
- Just below Group 101, we can have Specific Account number 10100 on the Left and Specific Account Number 10101 on the right.
- Just below Group 102, we can have Specific Account Numbers 10200 on the left and Specific Account Numer 10201 on the right hand side.
When creating the Pyramid, you determine the Level, which determines the Amount of detail Reported.
- The Higher the Level Number, the greater the Amount of detail.
- The Lower the Level Number, the less the Amount of detail.
- The Account Number would represent the highest Level, meaning the greater Amount of detailed information.
- For Example if we Reported using the above Pyramid, and Select Level 40, we would receive totals for Groups 101, 102, 121 and 122, and would not receive totals for each Individual Account, and please note that this is a lower Level Number.
- On the other hand, if we pick a higher Level of 50 which is slightly below Level 40 on the Pyramid, we are able to receive totals for Accounts: 10100, 10101, 10200, 10201, 12100, 12101, 12200 and 12202 which is more detailed information. This explains the notion, the Higher the Level Number, the greater the Amount of detail.
- An existing Account Pyramid can be copied to a New Pyramid in the same Folder or to a different Folder using the duplicate Pyramid Function on the Function Menu.
NB: Define a Pyramid Code before creating Account Groups, However, you can not view or create the actual Pyramid Scheme until Account Groups are created.
Creating Account Pyramids: (GESGYM)
Path: Common Data > General Accounting Tables > General > Pyramids
Account Groups: (GESGRY)
Path: Common Data > General Accounting Tables > General > Account Groups.
We use Account Groups to create Groupings within the Pyramid.
- You can Subgroups or build up the Pyramid and or add Specific Account Numbers.
- When building the Pyramid, you must start building from the Bottom of the Pyramid, which is the most Amount of detail, to the Top which is the Less Amount of Detail.
- Account Groups created, are associated with a Pyramid, which also determines the Chart of Accounts used.
- The Pyramid is selected by clicking Pyramids in the upper right corner.
Understanding Analytical Accounting:
Learn about Analytical Accounting and how to define Dimension Types.
- What is Analytical Accounting?
- Defining Dimension Types.
- Assigning Values to Dimension Types.
- Assigning Dimension Types to Specific Entries.
- Defining Default Dimension Codes.
- Building Dimension Pyramids
- Working with Analytical Allocations.
WHAT IS ANALYTICAL ACCOUNTING:
Analytical Accounting enables transactions to be tagged and reported by user-defined Dimension Codes representing Financial, Date, or Statistical information.
We can have:
PRODUCT CATEGORY,
SALES REGION,
MARKET AREA,
Account 70100
Account 70200
Account 70300
Account 70400
Account 70500.
Analytical views are driven by Ledger Settings.
In the Above Diagram, Market Area, Sales Region and Product Category represent Individual Dimensions.
- Based on the Settings and requirements defined for Dimensions, you would be able to obtain information for Sales postings Specific to any one of the Dimensions, ie as per Market Area, Sales Region or Product Category.
- Selection or use of Dimensions is optional.
Defining Dimension Types: (GESDIE)
Path: Setup > Organizational Structure > Dimension Types.
Dimensions are typically used to represent such items as Departments, Locations, Regions, and Product Lines.
- A maximum of 20 Dimension Types can be defined.
- These Dimensions are shared across all companies defined within a Folder.
- The Values for a Dimension Type Code are defined using the Dimension Function, and a Value can be an Amount or Quantity.
Assigning Values to Dimension Types: (GESCCE).
Path: Common Data > General Accounting Tables > Analytical > Dimension Types.
One can define an unlimited number of Dimension Values under each Dimension Type.
- For example, if you have Multiple Accounts Receivable Accounts, You can create a Control Group to combine them together making it easier to view all information in any inquiry function.
UPDATING THE ACCOUNT PLAN WITH DEFAULT DIMENSION TYPES:
After Defining Dimension Types and Values, you can associate a Default Dimension with a Specific Account Plan and Account Root on the Default Dimension Types Tab in the Chart of Accounts Function.
- Cluck the execute button to update the appropriate Accounts with the default Dimension information.
- For example you can define that all Accounts starting with “4” will be assigned the DPT (Department) Dimension Value and the “Admin “ Department.
- Defining a Specific Default Dimension is optional.
Assigning Dimension Types to Specific Entities: (GESCDI)
Path: Setup > Organizational Structure > Assigning Dimension Types.
Once Dimension Types are defined, there are several functions in which you can define default Types associated with an entity, such as an Account, Customer, etc.
DEFAULT DIMENSION TYPES:
We use Default Dimension Types to define which Dimension Types are associated with specific entities in the system, such as Product, Customer, Supplier, Sales Rep, etc.
- A single Dimension Type can be assigned to multiple entities.
- This Setup is done at Folder Level.
For Example Customer Entity can be associated with Dimension Types CCT, PRJ, PRO and MAR.
- In the Accounts Function you can associate Specific Dimension Types to an Account on an Account by Account basis. You can also define a Default Dimension Code that is used when processing transactions.
- Dimensions are managed on the Analytical Tab in Accounts.
- Default Dimension Codes can be changed when entering transactions.
Defining Default Dimension Codes: (GESCDE)
Path: Setup > Financials > Accounting Interface > Default Dimensions.
We use Default Dimensions to define Default Dimension Codes.
- For each Code, define Default Dimension Type or Types Selected as well as an order of priority when searching for a Default Value and where to search.
- In Automatic Journal Lines, it is defined from which table a Dimension is read. This is typically a table related to the event.
- The Default Dimensions function (GESCDE) Function, allows you for various events to define where the Dimensions are defaulted from.
- For example, for the entry of an order line and a given Dimension Type, it is possible to specify that the default value be searched in the Product record and then by default in the order header.
- A Default Dimension Code is usually assigned to an event.
For example on creating a Sales Order line, the Dimensions are loaded according to the Default Dimension Code SOP. Standing for??? To find out.
A Default Dimension Code consists of Identifiers and Initialization.
- The Identifiers provide the keys to other records where Dimensions are identified. Identifiers should only be modified by experienced Consultants.
- The Initialization Tab is loaded with a Grid; the Columns are the list of Dimension Types in use.
- For each Dimension Type, you select which origin to use.
- You can select more than one origin; these are read in order until a value is found.
- It is possible to define other Codes in the Automatic Journal lines.
Building Dimension Pyramids:
Creating the Top Level of the Pyramid: (GESCYM)
Path: Common Data > General Accounting Tables > Analytical > Dimension Pyramids.
We use Dimension Pyramids to create a Pyramid Code and to view the Pyramid Scheme created.
Dimension Pyramids define a Hierarchy of Dimensions that are used for Reporting purposes and created to determine how much detail is provided based on the Level used in the Defined Pyramid.
- For Example you can create a Dimension Pyramid to report information on various Dimension Types eg, BIKE.
You can then receive information either by individual Code or by rach Individual Dimension Type.
- A Group can Contain Groups/Sub Groups or Specific Account Numbers at different Levels.
Group BIKE contains 3 Specific Subgroups namely: BIKE in the below right hand side box, BIKE ACC in the below Middle box and BIKESWS in the below left Box.
- When creating the Pyramid, you determine the Level, which determines the Amount of detail Reported. Refer to the earlier Chapter on Pyramids for more information on this.
- You must have a Pyramid Code Defined before creating Dimension Groups.
However, you can not create or view the Actual Pyramid Scheme until Dimension Groups are created.
Dimension Groups: (GESCRY)
Path: Common Data > General Accounting Tables > Analytical > Dimension Groups.
We use Dimension Groups (GESCRY) to create Groupings within the Pyramid.
You can add Subgroups to build up the Pyramid and or Add Specific Dimension Codes.
- When building Dimension Groups, one must start by building from the Bottom of the Pyramid where we put (the most Amount of Detail) going up to the top where we put (the Least Amount of Detail).
- Dimension Groups created are associated with a Pyramid, which also determines the Dimension Codes used.
- The Pyramid is Selected by clicking on Pyramids in the upper right corner.
