Unspecified Expenses (#605)
Unspecified Expenses (#605)
Lists all supplier or cash book transactions that have not been assigned to an expense account or have been assigned to an expense account that no longer exists.
This report is particularly important when adding the general ledger to the system at some later date. Without the general ledger, CAPITAL OFFICE does not require that every supplier entry or cash book entry be allocated to an expense code or general ledger account code. This is a requirement if the GL is running. Unassigned expenses will generate error/warning messages in the GL when transferring information across, unless these transactions are "cleaned up" using this report.
If you do not intend to run the general ledger then there may be no need to allocate all your "expenses" (especially "expenses" relating to what accountants call the "balance sheet") through CAPITAL OFFICE. As well, CAPITAL's Trading Statement Report bases its inventory cost calculations on the cost of the goods sold at the time the invoice was created. You therefore don't have to worry about assigning inventory you have purchased to a particular "expense" account. (Such as a purchases account.)
Even
if you do not intend to run a General Ledger you will need to expense all transactions required for GSTand
BAS reporting.
Once the general ledger is activated, however, all transactions that directly impact on income or costs, MUST be coded to a chart of accounts code. When the general ledger is deactivated, CAPITAL does not force you to do this. This report can be useful for determining what information needs to be added to a particular accounting period, before it would transfer cleanly into a general ledger.
List Cashbook Transactions
Only cashbook transactions with unassigned or missing expense codes will be listed on this report if this option is selected.
List Supplier Transactions
As above, except for suppliers.
*** Problem appearing next to a transaction on a report indicates that the assigned expense code could
not be found in the expense table or general ledger chart of accounts, or there is some other problem
with the transaction. Locate the transaction in the cash book or supplier account and inspect it to determine
the nature of the problem or to add the missing expense code.
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