A default record is essentially a 'typical example' of the records held in the file to which it relates.
For every new expense code record created, default entries can be applied as per the initial record contents entered.
The entry against each field can either be blank, a prompt to the operator as to what should be entered at this point, or a valid entry. This third option saves time when creating individual expense code record. Once defined, the cost centre default record is used as a template for all new expense code record created and does not have any effect on existing records.
Tip: It is essential when setting up your budget system to take this option at least once to ensure a default record is created.
To add/modify expense code defaults:
From the Master menu select the Management accounts option and the company you require.
The MANAGEMENT ACCOUNTS menu is displayed.
Select the System maintenance option.
The MA SYSTEM MAINTENANCE menu is displayed.
Select the Expense code defaults option.
The Expense Codes; Initial record form is displayed.
The Expense Codes; Initial Record Form is displayed when the Expense code defaults option is selected from the SYSTEM MAINTENANCE menu.
The expense code is as defined for your particular system, but is most usually numeric in the range 0 to 999999. As with cost centres, expense codes can be initially automatically created from the Nominal Ledger using the 'Create records from NL' function in the 'Miscellaneous options' menu.
The default record is immediately presented.
The fields held on the Details tab are as follows:
Short name: This is a code of up to eight characters that is used where relevant in the system to provide a short name search. It should not be left blank.
Description: A description of the expense code in full that uses no more than thirty characters.
Analysis code: Up to sixteen characters. The use of this code can be of major importance to your company reporting structure. Its use is described in full in the topic which deals with design and set-up of the drill down system
Account type: Identifies the expense code as either a Profit and loss account or a Balance sheet account (P or B entered as applicable)
Expense code group: A valid Nominal Ledger group code must be entered here. A search facility is provided, activated by clicking the Ellipsis button
. This code is relevant if the group level reporting command is used in the production of any of your financial reports. Where group codes are not applicable, you should find that a default code of 'blank'(i.e. three space characters) has been set up in the Nominal Ledger.
Default profile: If a profile code is entered here (a search facility is provided, activated by clicking the ellipse [...] button) it can be used in the 'Adjust MA budgets/actuals' facility on the 'Miscellaneous options' menu. Also, it is the default if the profile feature is used in the 'Edit MA budgets/actuals' option on the main menu.
Note: This field is not mandatory, and is only applicable to profit and loss account types.
Normal balance sign: Enter '+' or '-'. This is used by the standard Revision 8 graph feature to determine if positive or negative values (debits or credits) should be above the horizontal axis.
Accounting division: This field is used to illustrate the division the expense code relates to. It is selected by clicking the
Note: 'Account type' and 'Normal balance sign' are 'critical' fields and must not be left blank. Also, a non-blank short name is recommended to avoid any possible future problems with too many duplicate blank 'keys' in the short name index.
BUTTONS
Exit : Returns you to the SYSTEM MAINTENANCE menu.
Help : Displays help on the current application using the default browser.
