The Settings are a series of questions/parameters and decisions, which relate to all of the main business processes; such as Accounts Payable, Accounts Receivable, General Ledger, and Purchasing.
The settings parameters, which are determined by the board, govern the business rules of the application and how the processes will function. There are certain settings which contain elements that must be completed prior to creating any financial transactions in the application. These settings define key items such as the format of the general ledger & alias account codes, accounting periods, year and periods for transactions. Settings of this nature are prerequisites.
Where possible, settings are kept to a minimum to promote ‘Standard Business Practices’.
In the K212 Finance Application, the Settings are accessible from the Main Navigation/System. There are thirteen Settings, each representing a logical grouping of processes.
Generally, an Accounting designate would be responsible for the establishment & maintenance of the Settings. Most settings, once established, do not have to be changed on a regular basis. Settings are secured based on a user’s role in their organization.
The Settings module includes the following sub-modules:
•Tax
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