Accounting Overview Presented by: Marisa Krieg
Agenda: • Disclaimer • Basic Concepts • Common Functions • Time Savers & Helpful Links • Q&A #Orchestrate2016
Disclaimer #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. #Orchestrate2016
Basic Concepts #Orchestrate2016
Orchestrated Continuous Cycle Pur c hase ingr e die nts Re c e ive mone y Pr oduc e Se ll finishe d goods #Orchestrate2016
Basic Concepts 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 #Orchestrate2016
Chart of Accounts #Orchestrate2016
Chart of Accounts 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 #Orchestrate2016
Real-time Accounting #Orchestrate2016
Real-time Accounting Real-time • Automated Posting for every step of the way Purchasing • AP Account • Inventory Accounts Production • Inventory Accounts • WIP and Semi-Finished Goods Accounts Sales • Inventory Accounts • AR Account #Orchestrate2016
GL Determinations #Orchestrate2016
GL Determinations 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 #Orchestrate2016
Item Groups #Orchestrate2016
Item Groups 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 #Orchestrate2016
Moving Average #Orchestrate2016
Moving Average What is Moving Average? Moving Average Cost of Cascade Hops • An accounting method in which a real-time average cost is Lbs of Hops Total Cost Batch Cost per Lb maintained Purchased per Batch Why Moving Average? 4567 230 $ 0.50 $ 115.00 • Manufacturing industry 3214 500 $ 0.75 $ 375.00 • Prevent peaks and valleys 9986 700 $ 0.80 $ 560.00 1430 $ 1,050.00 What does Moving Average look like? • Weighted costing based on Total Cost $ 1,050.00 inventory on hand / Lbs on Hand 1430 = Cost per Lb $ 0.73 #Orchestrate2016
Basic Concepts – In Review 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 #Orchestrate2016
Common Functions #Orchestrate2016
Common Functions | FINANCIALS 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 support.orchestrated.com #Orchestrate2016
Common Functions | BANKING 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 support.orchestrated.com #Orchestrate2016
Best Practices & Helpful Links #Orchestrate2016
Best Practices & Time Savers Accounting Best Practices • Report Schedule | Success Factors • Bank Reconciliations • Printing Checks • Check Register • Receiving Checks | Deposit Functionality Reports Time Savers • Reports by Persona • Payments during Invoicing • Data Integrity • Payment Wizard • SAP vs Orchestra Reports • Quick Reports support.orchestrated.com #Orchestrate2016
Helpful Links 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 #Orchestrate2016
Troubleshooting #Orchestrate2016
Troubleshooting Accounting Issues 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 • #Orchestrate2016
When in doubt, Right-Click or Drill Down! #Orchestrate2016
In Review: • Disclaimer • Basic Concepts • Common Functions • Time Savers & Helpful Links • Q&A #Orchestrate2016
Thank You! http://forums.orchestrated.com #Orchestrate2016
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