Transactions with Subaccounts: Process Activity

In this activity, you will learn how to create a GL batch with splitting by subaccounts. You will also release and post the batch, and review its details.

Story

Suppose that in January 2023 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 01-2023 financial period for the salaries of the employees of the SweetLife Head Office and Wholesale Center (HEADOFFICE) branch. The total amount paid to the company’s departments is the following:

  • Sales: $19,500
  • Operations: $7700
  • Finance: $8100
  • Marketing: $3000

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

Configuration Overview

For the purposes of this activity, the Subaccounts feature has been enabled on the Enable/Disable Features (CS100000) form.

On the Segmented Keys (CS202000) form, the SUBACCOUNT segmented key has been defined according to the company's business needs. For details, see Subaccounts: Implementation Activity.

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 details by using the Account by Subaccount (GL403000) form.

System Preparation

To prepare the system, do the following:

  1. Sign in to a tenant with the U100 dataset preloaded, and use the following credentials:
    • Username: pasic
    • Password: 123
  2. In the info area, in the upper-right corner of the top pane of the MYOB Advanced screen, make sure that the business date in your system is set to 1/30/2023. If a different date is displayed, click the Business Date menu button and select 1/30/2023. 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, also on the top pane of the MYOB Advanced 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.

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: 1/30/2023
    • Post Period: 01-2023
  3. In the Description field, 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
    • 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
    • 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
    • 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
    • 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
    • Account: 69500 - Salaries and Wages
    • Subaccount: 000-SLS
    • Debit Amount: 19500
  9. Click Save on the form toolbar, and note 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, specify the following settings:
    • Company/Branch: HEADOFFICE
    • Ledger: ACTUAL
    • Period: 01-2023
    • Account: 69500 - Salaries and Wages
  3. In the table, notice that the balance of the 69500 - Salaries and Wages account is split by subaccounts.