CASH RECEIPTS (CRMAIN)

DESCRIPTION

The Cash Receipts procedure processes a complete deposit. It enters the credit portion(s) of the journal entry to the account selected by the user - either the Bank account or Cash Receipts journal. Entry of the credits is done at the Distribution level of NewViews. When all deposit transactions have been entered, and if a journal is being used, the procedure makes an offsetting debit entry to the bank account at the Ledger level of NewViews.

Once an individual deposit transaction (cheque) has been entered, there is no provision for editing of incorrect amounts. Editing for errors must be done directly on the transactions after the procedure has been completed.

OPERATION

1. 1. There are a number of parameters that are set the first time CRMAIN is executed, and then not normally changed thereafter. They include:
   - the account name of the Bank Account.
   - the account name of the Cash Receipts journal, if one is being used.
   - a description, such as "Payment", that will automatically be entered onto each deposit line. It can be over-ridden during processing.
   - an indication of whether the account name or description is to be added to the word "Payment" to create a full description of the form "Payment ­ Jones".
2. Each time the procedure is started, the user enters a deposit date and number.
3. Subsequently, the amount of each cheque in the deposit, and the account to which it is to be charged, is entered. At the same time, a description that over-rides the default description can be entered.
   The procedure displays a running total of the cheques processed. It also has built in capability to view and select account numbers for those times when the user is not certain what they are.

SPECIAL NEWVIEWS STRUCTURING CONSIDERATIONS

No special structuring is required within NewViews to use this procedure.

CASH DISBURSEMENTS (CDMAIN)

DESCRIPTION

The Cash Disbursement procedure processes cheques that have been written manually for payment to suppliers. It processes data at the Ledger level of NewViews for simple transactions, and uses the Distribution level for complex transactions.

The procedure has the capability to process (a percentage of) GST to a Rebate account. The GST is split between the rebate account and each of the individual expense accounts into which the supplier's invoice has been split.

OPERATION

1. There are a number of parameters that are set the first time CDMAIN is executed, and then not normally changed thereafter. They include:
   -· the bank account to which the cheques will be charged
   -· the cash disbursements journal, if one is being used
   -· the account into which any GST rebate will be put
   -· the percentage of GST that will be put into the rebate account.
2. a) The cheque number and a description are entered for each cheque.
   b) The amount of each cheque is entered to one or more (expense) accounts. It may be entered either including or excluding the GST (this is a set up option).
   c) When the total amount has been entered, the total GST is entered, and is split between the GST rebate account and the expense account(s).

SPECIAL NEWVIEWS STRUCTURING CONSIDERATIONS

No special structuring is required within NewViews to run this procedure.

DEPOSIT INTEREST CALCULATION (DEPMAIN)

DESCRIPTION

The Deposit Interest procedure has been written for housing co-ops and non-profits, but can be adapted for other corporations such as apartments.

The procedure is designed to calculate the monthly interest that accrues on member or tenant deposits. By law, in Ontario, landlords are required to pay tenants 6% interest annually on their deposits. Non-profit Housing Corporations are landlords under the Landlord and Tenant Act. Co-ops are not generally subject to the Landlord and Tenant Act, and therefore do not give interest to their members. However, if a co-op has a combination of tenants and members, the tenants are entitled to 6% interest under the Landlord and Tenant Act. Co-ops that are in this position may amend their by-laws so that members also get interest on their deposits.

OPERATION:

1. Interest is not compounded. The annual interest rate is divided by 12, and multiplied by the deposit, excluding accrued interest, to determine the monthly interest.
2. The procedure must be run for each month in the year. If it is not run during the year, but only at year end, it must still be run for all twelve months individually.
3. Interest is calculated on the month end deposit balance.
4. Interest that is calculated is added to each tenant's/member's deposit account. The transactions themselves are entered into a journal. This journal should be used only by the interest calculation procedures. Manual entries should not be made in the journal.
5. Prior to doing the interest calculation, the interest calculation procedures process through all of the deposit accounts and "close" or reconcile all entries that do not come from the Deposit Interest journal (per point 4). For this reason, miscellaneous entries must not be made into the Deposit Interest journal or they will not be closed, and interest will not be calculated on them.
   At year end, all of the entries to the deposit accounts will be closed (per above), but the interest transactions will remain open. The procedure PRTPAY is used to print interest cheques (from the deposit report) and it will close the interest transactions.

SPECIAL NEWVIEWS STRUCTURING REQUIREMENTS

This procedure will require extra accounts to be set up if interest will be calculated for both members and tenants. It should have a separate journal to handle the transactions.

UNIT REPORTING (UMAIN)

DESCRIPTION

The Unit Reporting procedure is used only by housing co-ops and non-profits operating under either the Federal/Provincial support program, or under one of the Ontario Provincial support programs. These programs require year end reporting of the number of units occupied by size, and by subsidy category. (They also require dollar reporting on the same basis, but this can be achieved by normal NewViews structuring.)

The procedure UMAIN assesses the dollar amounts that have been charged to each unit in the housing project, and assigns a unit of occupancy that reflects the size of the unit, and the subsidy category of the occupants of the unit. Reports for the units can be printed in the same manner as any other report.

OPERATION

1. There are a number of parameters that are set the first time UMAIN is executed, and then not normally changed thereafter. They include all of the NewViews reports and accounts that will be referenced by the procedure during its operation.
2. The procedure is run on a monthly basis. The only data input is the beginning and ending dates for the month to be processed, and the assumption that the rents/ housing charges have been entered for that month.
3. If rent subsidy category for a unit changes after the monthly rents have been entered, and after UMAIN has been run, it is necessary to re-run UMAIN. The procedure deletes the first set of unit data.

SPECIAL NEWVIEWS STRUCTURING CONSIDERATIONS

Use of the procedure UMAIN may requires substantial restructuring of the books. The following structuring is required.

FOREIGN EXCHANGE CALCULATION (EXMAIN)

(This procedure works on a bank account ­ see also EXAMAIN)

DESCRIPTION

The Foreign Exchange procedure is a modification of the Cash Disbursement procedure, CDMAIN. It is used to process cheques that have been generated in a foreign currency (e.g. $US) and enter them into a bank account in that currency while entering the expense in Canadian dollars (the difference is put into a foreign exchange account). The procedure can also be used in reverse ­ that is, the books can be in a foreign currency, and the bank account in Canadian currency. In fact, the currencies can be any two countries ­ they do not have to be Canadian and US.

The expense that is being entered can be split between several accounts, and the foreign exchange will be pro-rated over them.

OPERATION

1. There are a number of parameters that are set the first time EXMAIN is executed. Some of them may be changed in subsequent runs. They include:
   -· the bank account to which the cheques will be charged.
   -· the cash disbursements journal, if one is being used.
   -· the account into which the foreign exchange will be put.
   -· the foreign exchange rate.
2. For each foreign exchange transaction, the following information is entered.
   a) The cheque number and a description.
   b) The amount of each cheque, expensed to one or more accounts.
   c) When the all of the expense entries have been entered, the procedure automatically calculates the foreign exchange and pro-rates it over the expenses.

SPECIAL NEWVIEWS STRUCTURING CONSIDERATIONS

No special structuring is required within NewViews to run this procedure.

FOREIGN EXCHANGE CALCULATION (EXAMAIN)

(This procedure works with Accounts Payable ­ see also EXMAIN)

DESCRIPTION

The Foreign Exchange procedure is a modification of the Cash Disbursement procedure, CDMAIN. It is used to process invoices that have been generated in a foreign currency (e.g. $US) and enter them into a payables account in that currency while entering the expense in Canadian dollars (the difference is put into a foreign exchange account). The procedure can also be used in reverse ­ that is, the books can be in a foreign currency, and the payables account in Canadian currency. In fact, the currencies can be any two countries ­ they do not have to be Canadian and US.

The expense that is being entered can be split between several accounts, and the foreign exchange will be pro-rated over them.

OPERATION

1. There are a number of parameters that are set the first time EXAMAIN is executed. Some of them may be changed in subsequent runs. They include:
   -· the account into which the foreign exchange will be put.
   -· the foreign exchange rate.
2. For each foreign exchange transaction, the following information is entered.
   a) The cheque number and a description.
   b) The supplier's Payable account
   c) The amount of each cheque, expensed to one or more accounts.
   d) When the all of the expense entries have been entered, the procedure automatically calculates the foreign exchange and pro-rates it over the expenses.

SPECIAL NEWVIEWS STRUCTURING CONSIDERATIONS

No special structuring is required within NewViews to run this procedure.