Transactions with Subaccounts: Process Activity

In this activity, you will learn how to create a GL batch with journal entries to the same account split by subaccount—that is, these entries have the same account but different subaccounts specified. You will also release and post the batch and review its details.

Story

Suppose that in January 2024, the SweetLife Fruits & Jams company paid its employees a total of $38,300.

Acting as a SweetLife accountant, you need to enter a batch for a payment in the amount of $38,300 for the 01-2024 financial period for the salaries of the employees of the SweetLife Head Office and Wholesale Center (HEADOFFICE) branch. The following amounts were paid to the company’s departments:

  • Sales: $19,500
  • Operations: $7,700
  • Finance: $8,100
  • Marketing: $3,000

In the batch, you need to record a separate entry for each department so that you can later view the expenses of each department in reports.

Configuration Overview

In the U100 dataset, the following tasks have been performed for the purposes of this activity:

  • On the Companies (CS101500) form, the SWEETLIFE company has been defined.
  • On the Branches (CS102000) form, the HEADOFFICE branch of the SWEETLIFE company has been created.
  • On the Chart of Accounts form, the following accounts have been created:
    • 10200 - Company Checking Account
    • 69500 - Salaries and Wages
  • On the Ledgers (GL201500) form, the ACTUAL ledger has been added.
  • On the Segmented Keys (CS202000) form, the SUBACCOUNT segmented key has been created.

Process Overview

In this activity, you will enter a batch directly on the Journal Transactions (GL301000) form, release and post the batch, and note the status of the batch at each step. Then you will review the batch’s details by using the Account by Subaccount (GL403000) form.

System Preparation

Before you begin performing the steps of this activity, do the following:

  1. Launch the MYOB Acumatica website with the U100 dataset preloaded, and sign in as an accountant Nenad Pasic by using the pasic username and the 123 password.
  2. In the info area, in the upper-right corner of the top pane of the MYOB Acumatica screen, make sure that the business date in your system is set to 1/30/2024. If a different date is displayed, click the Business Date menu button and select 1/30/2024. For simplicity, in this activity, you will create and process all documents in the system on this business date.
  3. On the Company and Branch Selection menu on the top pane of the MYOB Acumatica screen, make sure that the SweetLife Head Office and Wholesale Center branch is selected. If it is not selected, click the Company and Branch Selection menu button to view the list of branches that you have access to, and then click SweetLife Head Office and Wholesale Center.
  4. As a prerequisite to the current activity, make sure you have completed Subaccounts: Implementation Activity to enable the Subaccounts feature on the Enable/Disable Features (CS100000) form and define the SUBACCOUNT segmented key on the Segmented Keys (CS202000) form.

Step 1: Processing a Batch of Transactions with Subaccounts

To process a batch of transactions that include subaccounts, do the following:

  1. Open the Journal Transactions (GL301000) form, and on the form toolbar, click Add New Record.
  2. In the Summary area, notice that the following settings are inserted by default:
    • Transaction Date: 1/30/2024
    • Post Period: 01-2024
  3. In the Description box, enter Salary payment Jan 2023.
  4. On the Details tab, click Add Row on the table toolbar, and specify the following settings in the row:
    • Branch: HEADOFFICE (inserted by default)
    • Account: 10200 - Company Checking Account
    • Subaccount: 000-000
    • Credit Amount: 38300
  5. Click Add Row again, and specify the following settings in the second row:
    • Branch: HEADOFFICE (inserted by default)
    • Account: 69500 - Salaries and Wages
    • Subaccount: 000-FIN
    • Debit Amount: 8100
  6. Click Add Row again, and specify the following settings in the third row:
    • Branch: HEADOFFICE (inserted by default)
    • Account: 69500 - Salaries and Wages
    • Subaccount: 000-MKT
    • Debit Amount: 3000
  7. Click Add Row again, and specify the following settings in the fourth row:
    • Branch: HEADOFFICE (inserted by default)
    • Account: 69500 - Salaries and Wages
    • Subaccount: 000-OPS
    • Debit Amount: 7700
  8. Click Add Row again, and specify the following settings in the fifth row:
    • Branch: HEADOFFICE (inserted by default)
    • Account: 69500 - Salaries and Wages
    • Subaccount: 000-SLS
    • Debit Amount: 19500
  9. Click Save on the form toolbar, and notice that the status of the batch is On Hold.
  10. On the form toolbar, click Remove Hold. The batch’s status has changed to Balanced.
  11. On the form toolbar, click Release.

    Note that the batch’s status has changed to Posted.

Step 2: Reviewing the Account and Subaccount Balances

To review the details of the batch, do the following:

  1. Open the Account by Subaccount (GL403000) form.
  2. In the Selection area, notice that the following settings are inserted by default:
    • Company/Branch: HEADOFFICE
    • Ledger: ACTUAL
    • Period: 01-2024
  3. In the Account box, select 69500 - Salaries and Wages.
  4. In the table, notice that the balance of the 69500 - Salaries and Wages account is split by subaccounts.