Softhard Solutions ShopMate Main Financial Accounts Module Explanation Page
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Softhard Solutions ShopMate

Business Accounting Financial Accounts Module Explanation

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ShopMate Automotive Business Accounting Financial Accounts Module

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Keeping the Financial Accounts Records is one of the most important aspects of your business. Welcome to ShopMate Main Financial Accounts Module Explanation page. Only two clicks from the Home Page will have financial reports set up and ready to go ... in seconds.
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In the Financial Accounts Module you create new and update existing financial transactions. All received payments for invoices, all issued payments for purchase orders, payroll payments and taxes, business activity statement, in fact all payments are calculated and reports created and displayed in a Specified Period in this module.

These are the descriptions of all financial transactions that have to be put into the ShopMate financial system in order to calculate correct Income and Expenses for currently selected Branch on current workstation.

The following tasks are available on this page:

The bank accounts are serving as repositories of totals of various financial transactions. Each and every financial transaction made in ShopMate is associated with a Bank account. For example, when an invoice or an order is closed by the user, it is posted to the ShopMate financial section and payments can be made.

When a payment is made against an invoice or order, the invoice or order is broken down to several system Ledgers, Sub ledgers and Collections. When an entry is made into a General Ledger, Sub ledger or Collection, the totals are associated with the system bank account My Bank or your own Bank Account. Only My Bank is used for invoices and orders automatically. This module reports on all this.

Tips
Some buttons associated with a Grid of data need to have one or more records Selected by Highlighting the records in order to get enabled. You can control the record highlighting by clicking the Selector bar on the left of each grid for one record selection or using the Ctrl+Click button for selecting one record at the time in different positions or Shift+Click button for selecting a range of records.

Some buttons only need the pointer arrow on the selector bar, without highlighting, to get enabled. In that case you can select any record by just clicking on the desired record anywhere within the grid, without having to click the selector bar.

If you press the Ctrl+F6 keys on your keyboard, it will zoom through any windows forms you currently have 'open' inside ShopMate.

ShopMate has a notion of Open and Closed invoices and orders. While they are Open, they are just templates and can be manipulated as you like, even deleted, with no reflection in the financial system or your products stock. When Closed, they are taken off of the Main Sales or Purchases and become part of the financial system.

When the invoices or orders are Closed they are Posted from sales/purchases into the financial system, products (only those with the Stocked property set) are added or deducted to/from stock as needed, you can't change things any more and the invoices/orders are ready for the receiving/issuing of payment for them.

Even if you do NOT use purchase orders you still should periodically Close all the orders that ShopMate automatically creates when any product's Reorder Level is set, or an invoice containing any Stocked products is Closed, not delete them.

If you delete them, they will only be recreated again by ShopMate. You should Close (post) them and issue payments for them otherwise your financial reports will be incorrect (100% profit). You should maintain all products' correct Retail and Supply (except labour) prices for balancing.

By default, at start up, each employee is marked as present at work, except for employees marked as Inactive and entries made on Saturdays and Sundays. It is your responsibility to see that the entries, employee attendance and wage Approval, are correct for each day of employee operations.

All your labour products should have the ItemsInUnit property set to a number greater than one. If we assume that the Items are minutes of a Unit (one hour), you can set the ItemsInUnit to 60 (minutes). Then in an invoice you can enter e.g. 2.3 (hours) into Units and the Items (minutes) will be correctly calculated in this invoice item.

The updatable grids may contain one or more fields that are too short to display fully. You can click into these fields and the editor will display all words fully below it, formatted (even if a field is not normally updatable - if you try to update such field the editor will simply return the previous data).

Before a product is being pulled into the invoices or orders via a bar code scanning device, make sure the designated bar code field receiving the number is in focus.

Although you may, it is advisable NOT to use dot (.) as a first letter of the product names you yourself create.

If you are currently a MotoShop Automotive user you might ask a question: what is the difference between MotoShop Automotive and ShopMate? The answer is they both do the same thing but ShopMate does it better, is most modern software you can get, is written in .Net technology and, unlike MotoShop, is fully supported by Softhard Solutions.

MotoShop Automotive was built with the automotive industry businesses in mind, ShopMate was built for any small to medium business including automotive industry.


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Received Deposit Payments Task Tab

Following table contains all the available elements for review.

Element Description
Date box:
Period
Start Date

Select a start date to see a list of transaction payments in a selected period. You can either click on the down arrow and pick a date from the displayed month calendar or point on the date part to highlight it and press up or down keys on your keyboard.

Note
When you first start this form, the default date for the start date is today's date. If you need to make the search different you can enter the appropriate date you need. You will only see the transactions between the dates you choose inclusive.

Date box:
Period
End Date

Select an end date to see a list of transaction payments in a selected period. You can either click on the down arrow and pick a date from the displayed month calendar or point on the date part to highlight it and press up or down keys on your keyboard.

Note
When you first start this form, the default date is today's date. If you need to make the search different you can enter the appropriate date you need. You will only see the transactions between the dates you choose inclusive.

Fields:
Taxed and
Not Taxed
Income
These fields are informational and contain the total income, including any collected taxes and employee super, in selected period for current Branch compared with the Database totals.
Button:
Invoice
payments

Click on this Button to go to the Invoice Payment Manager with the Bulk Invoice Payments task Tab and the Single Invoice Payments task Tab which will reflect whatever payment type is selected on the Bulk Invoice Payments task Tab.

The Invoice Payment Manager is where you go to receive payment for invoices from customers - cash, cheque, electronic (and this is where you record 'Bad Debts').

Another way to get to the Invoice Payment Manager by clicking on the arrow point next to the Accounts Module icon then selecting Receivable, selecting Payments and selecting Invoices in the lists that appear.

Button:
Accrual
payments

Click on this Button to go to the Accrued Payments Manager where you receive accruals paid to you by customers for services not done yet.

Another way to get to the Accrued Payments Manager is by clicking on the arrow point next to the Accounts Module icon and selecting Payments then selecting Accruals in the lists that appear.

Button:
Deposit
payments

Click on this Button to go to the Deposit Payments Manager where you receive sums paid to you by any entity.

Another way to get to the Deposit Payments Manager by clicking on the arrow point next to the Accounts Module icon and selecting Payments then selecting Deposit Payments in the lists that appear.

Button:
Supplier
rebate
payments

Click on this Button to go to the Supplier Rebate Manager which will reflect whatever payment type is selected (e.g. cash, cheque, electronic).

The Supplier Rebate Manager is where you go to keep control over making sure you get rebate of product and/or dollars from suppliers who arrange 'Specials' to customers that they must reimburse you for.

Another way to get to the Supplier Rebate Manager by clicking on the arrow point next to the Accounts Module icon then selecting Receivable, selecting Payments and selecting Supplier Rebates in the lists that appear.

Button:
Tax rebate
payments

Click on this Button to go to the Tax Rebate Manager which will reflect whatever payment type is selected (e.g. cash, cheque, electronic).

The Tax Rebate Manager is where you go to keep on top of tax rebates owed to you in any given period.

Another way to get to the Tax Rebate Manager by clicking on the arrow point next to the Accounts Module icon then selecting Receivable, selecting Payments and selecting Tax Rebates in the lists that appear.

Button:
Print
Business
Activity

Click on this button to preview your Summary of Business Activity Statement according to the selected date range. You can choose to save or print it. This report shows you the amounts you collected for the authorities.

Important Note
Make sure you use this report in evenly spaced periods and note the dates of payments otherwise you may overpay or underpay the authorities.

Button:
Print
income
Click on this button to preview and/or print the details of Income within the selected period.
Button:
Print
Rewards

Click on this button to preview and/or print the details of Customer Retail Price Rewards. Reward field, found in every invoice, is a reward you can give to your customer. It is usually a few dollars off the normal retail price of the product(s) the customer purchases. This is a hidden discount, existing only in the invoices where used.

Important Note
Once you set this field in any invoice's product, it is remembered by ShopMate and used next time the customer purchases that same product. The only way to clear this is in an open invoice, next time, set the product's Reward field to zero.

Button:
Print
Delivery Runs
Click on this button to preview and/or print the details of Employee - Subcontractor Delivery Runs within the selected period. If you deliver the products to your customers and charge them Cartonage Fee to cover the employee or subcontractor expenses, this report shows how much of the cartonage the employees are entitled for their runs.
More... Button:
Counter sales
module

Click on this option to go into the Counter Sales section designed for point of sales to various unknown customers. Normal invoices are not printed. Instead customer invoice receipts are printed. The CustomerID 2 is used in all new counter sale invoices.

If you want to be able to select customers and their names from your database, do it in Main Sales section where you have that ability. From the customer Search button you can even select Counter Sale customer too.

More... Button:
Review invoice
templates
Click on this option to Review invoice templates for open invoices. You create these templates and use them to quickly add to invoice product items. Each template can generate customer reward points and when used by customer invoices, after accumulating certain number of points, you can reward the customer in the next invoice (good for marketing customers).
More... Button:
Check product
reorder
Click on this option to Check for product re-order for products that are marked as Stock product and have their re-order level property set higher than 0 (zero).
More... Button:
Send Email
Messages
Click on this option to send an email message. You can use this button to email messages to anyone.

The emailing should work even if you do not have an SMTP protocol (simple mail transport protocol) installed on your machine.
More... Button:
Print
form face
Click on this option to Print form's currently showing face in various picture formats.

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Issued Withdrawal Payments Task Tab

Following table contains all the available elements for review.

Element Description
Fields:
Taxed and
Not Taxed
Expenses
These fields are informational and contain the total expenses, including any paid taxes, in selected period for current Branch compared with the Database totals.
Button:
Order
payments

Click on this Button to go to the Order Payment Manager with the Bulk Order Payments task Tab and the Single Order Payments task Tab which will reflect whatever payment type is selected on the Bulk Order Payments task Tab.

The Order Payment Manager is where you go to issue payment for Orders to suppliers - cash, cheque, electronic (and this is where you record 'Bad Debts').

Another way to get to the Order Payment Manager by clicking on the arrow point next to the Accounts Module icon then selecting Payable, selecting Payments and selecting Orders in the lists that appear.

Button:
Deferred
payments

Click on this Button to go to the Deferred Payments Manager where you pay deferrals to your suppliers for services they have not done for you yet.

Another way to get to the Deferred Payments Manager by clicking on the arrow point next to the Accounts Module icon and selecting Payments then selecting Deferrals in the lists that appear.

Button:
Normal
withdrawals

Click on this Button to go to the Withdrawal Payments Manager where you pay sums to any entity.

Another way to get to the Withdrawal Payments Manager by clicking on the arrow point next to the Accounts Module icon and selecting Payments then selecting Withdrawal Payments in the lists that appear.

Button:
Tax withdrawal
payments

Click on this Button to go to the Tax Payments Manager which will reflect whatever payment type is selected (e.g. cash, cheque, electronic).

The Tax Payments Manager is where you go to keep on top of tax payments owed to ATO in any given period.

Another way to get to the Tax Payments Manager by clicking on the arrow point next to the Accounts icon then selecting Payments and selecting Tax Payments in the lists that appear.

Button:
Print
expenses
Click on this Button to preview your Issued Payments report according to the selected date range.

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Financial Information Files Task Tab

Following table contains all the available elements for review.

Element Description
Button:
Bank
accounts

Click on this button to go to the Bank Account Manager where you can manage your Bank Accounts.

There are two system bank accounts, but you can click on an icon there to 'Add' a bank account. You can only delete bank accounts that you yourself create, not the system once.

Normally you get to the Bank Account Manager by clicking on top of the Accounts Module icon and selecting Bank Accounts in the list that appears.
Button:
General
ledger

Click on this button to go to the General Ledger Manager where you can manage your various income and expense ledgers.

Select 'Income' or 'Expenses' in the combo box and you will see several system default ledgers ready-made for you.

You can click on an icon there to 'Add' another ledger. You can only delete ledgers that you yourself create, not any of the default ledgers.

Normally you get to the Ledger Manager by clicking on top of the Accounts Module icon and selecting General Ledger in the list that appears.

Button:
Financial
journal

Click on this button to go to the Financial Journal Manager where you can follow transaction entries in selected period for finances.

Normally you get to the Financial Journal Manager by clicking on top of the Accounts Module icon and selecting Financial Journal in the list that appears.

Button:
Payments
history

Click on this button to go to the Payment History Manager.

The Payment History Manager is where you go to review your payment history in selected periods.

Normally you get to the Payment History Manager by clicking on top of the Accounts Module icon and selecting Payment History in the list that appears.


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