3.50 General Ledger Subsidiary Products: Fixed Assets, Prepaid Expenses, and Accrued Expenses

Accounting / Back Office

Summary

This class reviews the advantages of a fully-integrated subsidiary system for fixed asset, pre-paid expense, and accrued expense accounting.  From disaster recovery to immediate inquiry, the class will concentrate on how the accounting department can communicate the accounting of these key expenses.

The training portion of the class will outline the steps for getting started, and the preliminary planning required for the implementation phase.  The lab will allow you to actually create your fixed asset, prepaid expense, and accrued expense records in your credit union’s files.

Audience

This class is designed for accounting supervisors and general accounting personnel.

Objectives

By the completion of this course, students will have:

n        Reviewed advantages of a subsidiary ledger system which can both post and report activity as well as keep a history log for analysis and management review.

n        Discussed how to organize and structure a credit union subsidiary ledger system for fixed assets, prepaid expenses, and accrued expenses.

n        Examined all of the CU*BASE features related to the above subsidiaries.

Topics

n        Preparing for Subsidiary Entries

n        Working with the Vendor File

n        Organizing the G/L Codes

n        Defining Fixed Assets

§     Building Assets, Land Assets, Fixed Assets, Leased Improvements

n        Defining Prepaid Expenses

n        Defining Accrued Expenses

n        Generating and Posting Work Files

n        Reporting and Inquiry on Subsidiary Results

n        Building a Full Database for Internal and External Communication of these Key Subsidiaries

n        Minimizing G/L Account Numbers Required on the Balance and Income Statement

n        Maintaining Inventory Control Utilizing Serial Number Lookups and Tracking

n        Designing Tag Number Systems to Identify Credit Union Property

3.50W Implementation Workshop: If desired, a special workshop can be requested where you can set up subsidiary records using your own credit union’s files, with assistance from CU*Answers staff.  Be sure to bring with you all the worksheets, lists, and other documents you will need to set up your subsidiary records.

Your CU security officer will need to grant you access to the following command before attending this course:

§     MNGLFA - All commands

Course Schedule

Future times and dates are to be determined.