Check accounting

You can recalculate and check your accounting in different ways:

  • with the Shift + F9 keys (Windows and Mac) or Cmd + 9 (Mac)
    Primary accounting recheck
  • with the Check accounting command from the Account1 menu
    this solution includes several extensive control options - Extensive accounting recheck

If there are error messages or differences you should correct them.

Primary accounting recheck

This command will execute the following operations:

  • it will reset the accounts balances, as well as the cost centers and segment balances
  • it will verify and report if there are errors in the various tables (Accounts, Transactions, VAT Codes and Exchange rates tables)
  • it will re-enter all the operations as if they were being entered for the first time
    • for the multi-currency accounting, it will recalculate the opening balances in the basic currency using the latest exchange rates
    • if the transactions rows are not locked, it will recalculate all transaction rows:
      • the VAT percentages are taken from the VAT Codes table and the VAT amounts are recalculated again
    • it will update the account balances, as well as the cost centers and the segment balances
    • in the Cashbook the progressive account balance in the Transactions table is recalculated
  • it will recalculate the Accounts and Categories table totals (income and expenses)
    • it will update the Diff. Budget and the Previous year columns
    • in the multi-currency accounting, it will update the Calculated balance with the latest exchange rate and the exchange rate difference

 

Extensive accounting recheck - the Check Accounting window

On top of the basic accounting recheck, additional checks are executed.

Recalculate accounting plus additional checks
This is one of the most useful features: the entire accounting file is being rechecked, all the balances are recalculated and the user is notified if errors are found.

Accounting properties
This option is being activated by default. The program verifies whether the data entered into the File and accounting properties correspond to the actual accounting (for example: opening and closing date, VAT account, accounts for exchange rate differences, etc.).

Transactions

Differences within transactions
If this option is activated, the program verifies whether there are differences between Debit and Credit or between Accounts and Categories in the Income & Expense Accounting. The rows where the differences occur are being indicated in the Messages Window. Also, the program shows the total difference amount in the Information window at the bottom of the screen (only when being positioned in the Transaction table).

Include intermediary differences
If this option is activated, the program verifies whether there are differences between Debit and Credit, in composed transactions (transactions over multiple rows). Often differences are caused by incomplete entries or errors in the amounts (as for example in the following example, in the transaction n. 8).

Balances checks (#CheckBalance)
By activating the Transactions option as well as this one, The program checks whether an account balance is equal to the one being inserted for verification (for example, between the bank account balance on the bank statement and the balance of that same account in the accounting file). In case the balances don't match, the program indicates the error.

In order to proceed with this check, one has to:

  • In the Transactions table: enter #CheckBalance in the Description column, as well as the currency code and the balance of the account (example: #CheckBalance CHF 28'000..00). Into the Debit column, enter the account to be checked. The Amount column remains empty. The amount to be checked has to be entered with the same number of decimals as the one of the account to be checked.
  • Activate the option through the Account1 menu
  • While the accounting is being checked, when there are differences between the checking balance and the account balance, the program shows the error while indicating the row.

The program has detected a difference between the checking balance and the account balance in the file

Same document with different dates
f this option is activated, the program will alert if transactions with the same Doc number have a different date. On composed transactions (=transaction on more than one row), where there is no correspondence between Doc and Date, the program cannot correctly determine the counterparty.

Accounts

Chart of accounts structure
If this option is activated, the program checks whether the chart of accounts structure is correct.

Existence of exchange rate differences
If this option is activated, the program checks whether there are unrecorded exchange rate differences.

Opening balances differ from last year's balances
If this option is activated, the program verifies whether the opening balances of the new year match with the closing ones of the previous year.

Personalized checks (Add On)
If this option is activated, the program runs checks on the functions that have been added by user (Add Ons), for customized verifications.

Include additional checks with the shortcut Shift + F9
When this option is activated, the program will run all the checks activated in the dialog window, when pressing Shift+F9. Otherwise only an accounting recalculation will be done (Mac version: Shift + Cmd + 9).

 

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