Tag Archive: Nominal Ledger


There is a Known issue (5924) which is fixed in Service Pack 1 for Sage 200 2013 R2 where the details of held journals, which were created from Journal Templates, are lost if more than one journal has been held.

NB. there was a hotfix for this originally but this is now rolled up into SP1.

Its been billed as the most important update in years and I have to say, I do not think users will be disappointed. Here are some details of the new features within Sage 200 2015 which was officially released at the end of February.

Look and Feel
Whilst the basis is familiar to current Sage 200 users, the screens and menus have changed in appearance giving a more modern design. Many of the changes are designed to make it easier for users to navigate Sage 200 and find/access what they want.

Look 1

Homepage

List View

List View

Look 3

Redesigned Process Maps

The 2015 design is much more intuitive.  A really nice feature is the frequently accessed page where the system remembers the functions you have used the most, so there is a quick way of getting back to them. What’s even more impressive is it remembers by day. So if you access something on a Friday, the next Friday it will be in your recently accessed.

Frequently used

Frequently used

It is now possible to use a search function on the menu allowing you to search for a menu item and the menu is filtered by items containing the word searched.

Menu Search

Menu Search

Custom colour settings can be applied and you are able to make each dataset/company you work in a different colour to make it more obvious which one you are working in.

Homepage and Favourites still exist whilst being more easily managed. Favourites can be added with one click, and can be arranged in folders, easily renamed and re-ordered.

Fixed Assets
After years without one  a simple Fixed Asset register is now included within the Financials modules for Sage 200. This is a welcomed introduction allowing you to set up, depreciate, dispose and delete assets.

Excel Reporting
Excel Reporting gives you more choice over how you can produce the reports you want. The important thing to note here, and I am not sure how I feel about it, is that some Excel reports are provided free while others are available if you subscribe to Excel Reporting. You are able to preview reports within the program to see what you would get in subscription packages.

Excel reports

Excel reports

Excel Reporting 2

Summery Screens
New Graphical Workspaces give a great visual representation of certain KPI’s. The Graphs also allow a drill down function to gain more specific answers.

Summaries 1 Summaries 2

Summaries 3

Other Improvements/changes

  • The Logon speed has significantly increased and you will struggle to find time to make a coffee before it has opened. Joking aside this is a major improvement.
  • There is a completely new ‘list view’ that does away with the older-style list views of the previous Sage 200 versions. These new list views include improved searching and filtering methods, and mixes the function of workspaces with the easier to read layout of the old list view.
    • List views can be opened up in a separate form/window. With a scroll bar!
    • Totals have been added to quickly show the cumulative values of selected records.
  • Workspaces also run more quickly, and also make better use of screen space.
  • Enquiry Screens have returned (I know they could be added to the menu manually in 2013) so the normal forms can be accessed of the menus as per 2011.
  • Project Accounting now includes the much requested Work in Progress (WIP) function which accrues for part-delivered project work. This is automatically posted to and reversed from the balance sheet as projects complete. This means costs can be posted to the same period as revenue to ensure true project profitability is shown in financial reports.
  • Increased narrative length
  • Ability to edit manual nominal journals so that you can amend references or narrative.
  • Functionality to properly account for the VAT legislation changes for early settlement discount. If you deal with a lot of settlement discounts you must upgrade for this alone.
  • Support for SQL 2014 is now included.
  • Ideas Hub this gives an easier route to offering Sage ideas of what changes you would like to see. It also gives you the opportunity to join a Sage 200 community, and hopefully this will offer an increased source of information and communication for users of Sage 200 (hopefully not turning people away from Talking Sage 200!!!!).

I am nothing but positive about Sage 200 2015. A number of the key issues have been rectified and it is definitely the most updated and improved release since the move to a SQL database.

There is a known issue with Sage 200 2011 SP3 in relation to the consolidation routine.

When the user attempts to consolidate their subsidiary company, they receive an error ‘system.outofmemory exception’

The issue number that this is logged under is 4545. Sage have released a hotfix, this should only be applied to sites with Sage 200 2011 SP3.

I have received a number of queries recently relating to Time Out errors being experienced during the running of a year end. There have been a couple of known issues with regards to these errors which were actually fixed in Sage 200 2011 SP1.

Below are details with regards to the issues now fixed in Sage 200 2011 SP1:

Known issue 3226 related to SQL timeout errors when running year end. The routine reached about 4% of Stage 2.

Known issue 4179 related to running year end on large data sets. Data sets with a high volume of transactions for a particular period or companies with a large number of accounts, timeout errors could occur when calculating period values.

Journal Entry Types

There are a number of different journal routines within Sage 200.

Journal Entry

The standard Journal entry option (Nominal Ledger > Nominal Transactions > Journal entry) allows you to enter Single Entry, Reversing Entry, and Recurring Entry or use a Template.

Single Entry is a standard, one-off Journal used to transfer values between nominal accounts.

Reversing entry allows you to fill out a journal in the same way as the Single entry option, but also specify a date to reverse the entries back. When posted, you will have created two journal entries.

Recurring entry allows you to enter a journal in the same way as the Single entry option, but also specify how many times you want to post this journal and the dates for each posting. This is ideal if you post a regular Journal using the same entries.

It is possible to set up Journal Templates in Nominal Ledger > Enter Transactions > Journal Templates. This allows you to create a template of Nominal accounts, Nominal Accounts and Values to transfer or Nominal Accounts and Percentage Values to transfer.

Once a template is created it can be used via the Journal Entry screen, once selected the Journal entry screen is populated with the template Accounts and Values, which can then be used and/or amended as required.

Cashbook Journals

To enter a journal that updates the Cashbook module then a Nominal Receipt or Nominal Payment (Taxable or Non Taxable) should be used. These are in essence types of journal entry. These can be found in Nominal Ledger > Nominal Transactions. (Also in Cashbook).

Prepayments and Accruals

The Prepayments routine can be used to create journal entries that account for an expense which has already been paid, and spread it across several financial periods, rather than it only being accounted for in the period it is paid.

The routine creates a journal entry to transfer the expense from the Profit and Loss nominal account into the Prepayment nominal account on the Balance Sheet. While the expense is in the Prepayment nominal account on the Balance Sheet, it is an asset. This asset is gradually reduced by the periodic journal entries which transfer the value back to the Profit & Loss account over the specified periods.

When you create a Prepayment, any entries that are dated in future periods are held in the deferred waiting postings file. These posting will be transferred using the update waiting postings function, as the periods are opened.

Prepayments are found in Nominal Ledger > Nominal transactions.

Accruals are entered in a similar way to prepayments, but are used to budget for an expense that needs to be accounted for in a number of different periods, but is paid for in arrears. You would need to enter an estimate for the expense.

The routine creates a journal entry to account for the expense on the Profit and Loss and Balance Sheet over the given period. While the expense is shown in the Accruals account on the Balance Sheet it is a liability that is increased as the periodic journal entries are added to it.

The routine also creates a final journal entry which clears the expense from the Profit and Loss and Balance Sheet accounts. At this point you should receive the actual expense and it can be recorded on the ledger without it being accounted for twice.

When you create an accruals journal, any entries that are dated in future periods are held in the deferred waiting postings file. These posting will be transferred using the update waiting postings function, as the periods are opened.

Accruals are found in Nominal Ledger > Nominal transactions.

 

Previous Year Journal

The Previous Year Journal Entry allows you to enter a batch of nominal postings with respect to the previous year.  After the Year End routine has been completed, you can use this routine to adjust the previous year’s figures as well as the opening and closing balances on nominal accounts. It allows you to close the Nominal Ledger at the Year End, but make postings that affect the previous year’s balances such as adjustments received from auditors etc.

The Previous year journal is in Nominal Ledger > Enter Transactions. This option needs to be activated within the Ledger Settings and the previous year end date entered.

You are unable to post previous year journals dated earlier than the start date of the earliest period that already exists in your previous year data.

For Profit and Loss and Balance Sheet accounts, if the nominal code is not ‘retained profit’ (i.e. not the default Accumulated Profit in the Nominal Ledger), the journal entry:

–        Creates a nominal entry for the previous year period. This is linked to the relevant previous year period, according to the date of the transaction.

–        Makes a posting to the adjustments amount posted after the previous year end balance.

–        Adjusts the closing balance amount for the previous year.

–        Makes a change to the previous adjustment posting that was made to the Year End closing balance amount. If the nominal code is a Balance Sheet account:

–        An adjustment is made to the credit year-to-date or debit year-to-date value for the nominal code’s account.

–        If consolidation is enabled in your Sage 200 system, an adjustment is made to the consolidated amount balance for the nominal code’s account.

–        If the nominal code is retained profit, a further adjustment is made to the summary forward balance value for the nominal account.

If the nominal code is a Profit and Loss account:

–        An adjustment is made to the balance summary for the nominal code’s account.

Sage 200 Journal Entry in 2011

2011 Journal Entry screen

Can you spot the mistake?

The Debit and Credit fields have been swapped around.

Not sure why, as it kind of goes against basic accountancy principles. But it can get messy if you post a large journal so be aware!!!