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 do I change my SEPA bank account?
To change your SEPA bank account: Go to Support > Bank Accounts Details. Select the bank account you to which would like to assign the SEPA details. Next, click on the Details tab from the top menu and then the Edit button from the left-hand menu. To ...
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: The budget amount has to always be ...
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 ...
Voyage Ledger - Purchase invoices in multiple Voyages or Ledgers
How can I post purchase transactions in the Voyage Ledger to multiple Voyages and for non Voyage-related expenses? In the Voyage Ledger, it is possible to post Purchase Transactions to multiple Voyages and also directly to a Nominal Expense Account. ...