Bank Balance vs GL Account Balance

Bank Balance vs GL Account Balance

To make sure your bank balances to the GL, you should verify that the “Statement Balance + Uncleared” value on the reconciliation report (circled in red in image below) and the GL account balance for that bank account as of the same date match.  There are a few reasons these values may not match.  When you approve a bank rec it takes a snapshot of the system as of that time so the “Statement Balance + Uncleared” value on the reconciliation report is showing the balance according to that snapshot. Reasons You Might Not Balance Example 1 “Entered a transaction after … Continued
Profit & Loss – Period & YTD v Budget & Prior Year

Profit & Loss – Period & YTD v Budget & Prior Year

Displays the period v budget and prior year with variances and the YTD as of the period selected with YTD budget and YTD prior year with variances.  Can filter by any combination of locations or legal entities.
GL Types

GL Types

GL Types, or rather General Ledger Types, are predefined groups for GL Account Records.  GL Types are used for the sorting, grouping and subtotal of GL Accounts on Financial Reports (Balance Sheet and P&L).  GL Type is a required field on the GL Account Record. GL Type Presets GL Types are customizable to meet the reporting needs of your organization.  Restaurant365 has the following GL Type presets: Create GL Type To create a GL Type, a User with the Accounting Manager Security Role can hover over the Account options on the top ribbon and select ‘New GL Type’. This will open up a … Continued
Profit & Loss – Location Side by Side

Profit & Loss – Location Side by Side

Shows week, period, or YTD totals for any combination of locations side by side with a total column.  Can drill down into any transaction to view source transactions.
GL Account Record

GL Account Record

The GL Account Record is where the Account specific information for each of the GL Accounts resides in the system.  Once you have opened a GL Account Record, the General Tab of the record will be displayed.  In addition to the information found on the General tab, the Transactions, and Report Settings tabs are available to users.  To create a new GL Account, please see the Add a New GL Account training. Click the button below to download an example General Ledger populated with recommended Account Names, Account Numbers, Cash Flow Categories, Operational Reports Categories, and Parent Account from the National Restaurant Association … Continued
Profit & Loss – Period & YTD v Budget

Profit & Loss – Period & YTD v Budget

Displays each of the periods in the year selected with a YTD total, YTD budget total, and a variance column.  The budget can be selected and the report can be filtered for any location(s) or legal entity(s).
GL Account – Available To Managers

GL Account – Available To Managers

If non-Accounting users (Users with the security role of Restaurant Manager) need access to a GL Account, that Account must be flagged as Available to Managers.  As non-Accounting users do not have access to the Accounting Module, they will never see the General Ledger in its entirety, nor will they have the access to open a GL Account Record to view GL Transactions.  However, it will be necessary for Restaurant Managers to have limited access to some GL Accounts for Invoicing, and DSS Review For Accounts that have Available to Managers enabled, the Account Name / Number will be made available in … Continued
Profit & Loss – Period v Budget v Prior

Profit & Loss – Period v Budget v Prior

Displays period, budget, and prior year totals with variance %’s for each.  Can be run for any combination of locations, legal entities, or concepts.  Can be run in detail or summary and has drill down into any source transaction.
GL Account – Disable Entry

GL Account – Disable Entry

If a GL Account is going to be a true Summary Account, we can Disable Entry for the account.  The values in the account going forward will only be a sum of the Child Accounts that are associated with the Parent (disabled) Account. For accounts that have Disable Entry enabled, the Account Name / Number will no longer show up in any Account Selector dropdowns in the system.  The Account will be disabled for direct entry for all transactions (this includes importing Journal Entries that post directly to this Account). This is accomplished on the GL Account Record via a Check/Unchecked setting on … Continued
Profit & Loss – Custom Date Range

Profit & Loss – Custom Date Range

Profit & Loss report for any date range specified by the user.  Can run the report for any combination of locations, legal entities, or concepts.