How to create a new Control Account in SFM? (Bank Account, Cash Account, Stock Control, etc)
Create the Account in your Chart of Accounts as seen below.
Please make sure you use the code depending on your Heading and Sub-Heading digits.
After creating the account, you need to specify the account as a System Control Account.
Go to Support > System Control Accounts and add (by pressing the + button) the new control account as shown below and explained with the following steps:
Step 1: Pick the type of control account from the Control A/C selection.
Step 2: Pick the nominal account code from the A/C Code selection.
Step 3: If the account is foreign, you will need to select the currency from the Currency selection. If this selection is greyed out, then the type of control account selected does not support foreign currencies.
How to create a Supplier Account in SFM
To create a Supplier account on SFM: Go to Current Year > Purchases > Supplier Maintenance. Press on the plus (+) sign on the top left of the screen. This will take you to the Supplier Details tab. In the Details sub-tab, input the details for the ...
Can I set nominal account budgets in SFM?
Nominal account budgets can be imported in SFM through a template (attached). The budget amounts are entered per period/ per nominal account. Below are some points to note when entering the budgets in the template: 1. The budget amount has to always ...
How to create a Client Account in SFM
To create a Client account on SFM: Go to Current Year > Sales > Client Maintenance. Once the Client Maintenance window is open, press on the plus (+) sign on the top left of the screen. This will take you to the Client Details tab. In the Details ...
How do I reverse an entry after posting it?
Once users confirm an entry into SFM, they cannot modify any elements of the data. The only option available is to reverse the full transaction(s) and re post the entry with the right values. The system provides for the reversal of entries as ...
How do I process a bank reconciliation?
Learn how to run a bank reconciliation in SFM in the video below. You can also refer to the instructions written below the video. Starting the bank reconciliation process To begin the bank reconciliation process, click on the Bank Reconciliation ...