1	Furthering Your Knowledge Of Accounting and Purchasing
2	Class Purpose Intended for the person who is very familiar with LGC’s Flexgen Accounting and Purchasing software. Also beneficial for someone who is fairly new to the software. Demonstrate how to get more information out of the Accounting software Learn how your office will benefit from Accrual Accounting Ensure your vendors are properly configured for 1099’s, now instead of later.
3	Accounting Reports Statement of Revenue Statement of Expenditures Summary Financial Statement Journals Forecasted Amendment Report
4	Statement of Revenue Aids in determining the money collected or received by your entity compared to your estimated budget collections Used for budgeting purposes when considering how to budget for next year Compare Standard vs. Summarized
5	Statements of Revenue Standard and Summarized
6	Statement of Revenue Reading the Report Original Estimate and Amended budgeted amounts Total Estimated Budget Year-to-Date Realized Percent Realized Unrealized Current Revenue
7	Statement of Revenue Differences Detailed report includes Cost Centers and Sub Objects Summarized report groups Cost Centers and Sub Objects under the function Summarized Provides a quick view of the totals collected for a specific revenue account disregarding the detail breakdown that exists as a result of the use of Cost Centers or Sub Objects
8	Statement of Expenditures Helpful in controlling the expenses incurred on a daily, monthly, and annual basis Three varieties of the report Standard Summarized By Object Very useful when budgeting
9	Statement of Expenditures Reading the Report Original Appropriations and Amendments Total Appropriations YTD Expenditures and YTD Encumbrances Unencumbered Balance and Percent Used Current Month Expenditures and Encumbrances
10	Statement of Expenditures Differences Standard contains all detail information Includes Cost Centers and Sub-Objects Summarized groups items by function and object By Object reports on specific object or objects entered
11	Summary Financial Statement Provides revenue and expenditure information per fund without the unnecessary detail provided by a Statement of Revenue or a Statement of Expenditures Format of the report is simple, making it easier to read and understand A great report to provide to your elected officials
12	Journals Groups information by type Group information based on the entry type used to create the accounting entry Some Entries are created automatically
13	Forecasted Amendment Report Good report for planning budget amendments as the end of year approaches Located in Budget Reports Note the Beginning Fiscal Year Report box Software Assumes you are preparing for next year’s budget. Enter the ending year of the Fiscal Year with which you are working
14	Forecasted Amendment Report
15	Accrual Accounting Defined Helps to accurately report expenditures when incurred (at the time of invoice creation) How it works Creates an Accounts Payable entry for each invoice entered Offsets the expenditure assigned with and invoice to accounts payable. Benefits Timelier reporting of incurred expenditures Accurate accounts payable balance
16	Accrual Accounting Sample Reports
17	Managing Vendors for 1099’s Why discuss now?
18	Determining 1099 Vendors 1099 Vendor Report Current vendors configured for 1099’s If no tax identification information (SS# or Tax #), not correctly configured Should require all possible 1099 vendors to complete Request for Taxpayer Identification Number and Certification (form W-9)
19	Determine 1099 Vendors Current Vendors not flagged as 1099 No easy way to determine Invoice History Listing by Vendor Number Must manually identify
20	Properly Configured 1099 Vendor Most are Individuals Most types are Non-Employee Compensation Must have either the Vendor SSN or Tax Number
21	Controlling 1099 Payout
22	Furthering Your Knowledge Of Accounting and Purchasing Thanks for Attending LGC’s Resource 2006 Class is now over!