Accounting Overview Presented by: Marisa Krieg Agenda: Disclaimer - - PowerPoint PPT Presentation

Accounting Overview

Presented by:

Marisa Krieg

Agenda:

#Orchestrate2016

• Disclaimer
• Basic Concepts
• Common Functions
• Time Savers & Helpful Links
• Q&A

#Orchestrate2016

Disclaimer

The intent of today’s presentation is solely to advise you on the functionality of the software. I am not a CPA, nor am I able to provide accounting advice or recommendations. Please defer to your accountant or CPA for internal business processes and advice.

Disclaimer

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Basic Concepts

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Pr

• duc e

Re c e ive mone y Se ll finishe d goods Pur c hase ingr e die nts

Orchestrated Continuous Cycle

Template Chart of Accounts

• Backbone to your system
• Pre-configured

Real Time Accounting & Automated Posting

• Purchasing, Production, Sales, Banking, etc

GL Determinations

• Inventory and non-inventory items

Item Groups

• Raw Materials, Packaging, Finished Goods,

WIP Moving Average

• Not Actual, FIFO, or Standard

Basic Concepts

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Chart of Accounts

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Basics

• Layout and Structure of CoA

Levels

• Levels - 1 through 4

Segments

• Corp, Brewery/Distillery, Retail 1,

Retail 2 Editing, Adding and Deleting

• Chart of Accounts | Add and Edit
• Edit Chart of Accounts | Delete

and Move

Chart of Accounts

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Real-time Accounting

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Real-time

• Automated Posting for every step
• f the way

Purchasing

• AP Account
• Inventory Accounts

Production

• Inventory Accounts
• WIP and Semi-Finished Goods

Accounts Sales

• Inventory Accounts
• AR Account

Real-time Accounting

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GL Determinations

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Pre-configured

• Driving force behind automated posting

Item Level

• Each Item can be set to post to specific

accounts Item Group Level

• Pre-determined Item Groups drive posting

GL Determinations

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Item Groups

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Pre-configured

• Orchestrated comes with pre-defined Item Groups

Majority of Inventory Items are based on Item Group

• Raw Hops
• Raw Malt
• Raw Adjuncts
• Packaging
• Merchandise

WIP Item Groups

• Wort, Green Beer, Aging, Bright Beer

Non-inventory Items & Overhead

• Set at Item Level based on internal business

processes Adding and Editing

• Easily add new and edit existing Groups

Item Groups

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Moving Average

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What is Moving Average?

• An accounting method in which a

real-time average cost is maintained Why Moving Average?

• Manufacturing industry
• Prevent peaks and valleys

What does Moving Average look like?

• Weighted costing based on

inventory on hand

Moving Average

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Moving Average Cost of Cascade Hops Batch Lbs of Hops Purchased Cost per Lb Total Cost per Batch 4567 230 $ 0.50 $ 115.00 3214 500 $ 0.75 $ 375.00 9986 700 $ 0.80 $ 560.00 1430 $ 1,050.00 Total Cost $ 1,050.00 / Lbs on Hand 1430 = Cost per Lb $ 0.73

Template Chart of Accounts

• Backbone to your system
• Pre-configured

Real Time Accounting & Automated Posting

• Purchasing, Production, Sales, Banking, etc

GL Determinations

• Inventory and non-inventory items
• Transaction types

Item Groups

• Raw Materials, Packaging, Finished Goods, WIP

Moving Average

• Not Actual, FIFO, or Standard

Basic Concepts – In Review

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Common Functions

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Journal Entries

• Immediately post or save as Voucher

Time Savers

• Posting Templates (Journal Entry)
• Recurring Postings (Journal Entry)
• Recurring Transactions (Documents: Orders,

Invoices, etc) Month-end & Year-end Close

• Step-by-step processes

Common Functions | FINANCIALS

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Payments

• Incoming and Outgoing

Check Writing

• Centralized accounting
• Print functionality

Payment Wizard

• Mass payments made and received

Deposits

• Ensuring your bank reconciliation will match Orchestrated

Reconciliation

• Bank reconciliations
• Business Partner reconciliations

Common Functions | BANKING

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Best Practices & Helpful Links

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Accounting Best Practices

• Report Schedule | Success Factors
• Bank Reconciliations
• Printing Checks
• Check Register
• Receiving Checks | Deposit Functionality

Time Savers

• Payments during Invoicing
• Payment Wizard

Best Practices & Time Savers

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Reports

• Reports by Persona
• Data Integrity
• SAP vs Orchestra Reports
• Quick Reports

support.orchestrated.com

Accounting Training Videos

• http://support.orchestratedbeer.com/hc/en
• us/articles/212356028-Financials

Journal Transaction Report

• http://support.orchestratedbeer.com/hc/en
• us/articles/207123527-Journal-Transaction-Report

Month-End Close

• http://support.orchestratedbeer.com/hc/en
• us/articles/206414428-Month-End-Close-Period-End-

Close

Year-End Close

• http://support.orchestratedbeer.com/hc/en
• us/articles/215230348-Year-End-Close

Reports by Persona

• http://support.orchestratedbeer.com/hc/en
• us/articles/219972028-Reports-by-Persona

Data Integrity

• http://support.orchestratedbeer.com/hc/en
• us/articles/221862748-Customer-Data-Integrity-

Check-Recommendations

Helpful Links

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Troubleshooting

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Where will/did this document post?

• Right-click > Journal Entry Preview
• Right-click > Journal Entry

What is this Business Partner balance comprised of?

• BP Balance Drill-down
• BP Reconciliation

Why does this Item’s value look strange?

• Right-click > Inventory Audit Report

Why is there a balance in this GL Account?

• COA Drill-down

What caused this huge Production Variance?

• Production Order History and Drill-down

Troubleshooting Accounting Issues

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When in doubt, Right-Click or Drill Down!

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In Review:

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• Disclaimer
• Basic Concepts
• Common Functions
• Time Savers & Helpful Links
• Q&A

http://forums.orchestrated.com

Thank You!

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