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Expense & Ledgers
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Expense & Ledgers
45 Articles
in this category
Expenses & Ledger Overview
The Expenses & Ledger module is the place to set up vendors, record expenses, reconcile your checkbook and print overall financial reports that include data from Family Accounting and Payroll too. Before You Begin You’ll want to set up your ...
Updated on : 18 Sep 2024
Vendor Contacts
How to add or edit contact people for a vendor. Getting There Look Up a Vendor to whom you wish to add/edit information for a contact person. Note : If you have just added a vendor they will already be selected (their name is highlighted...
Updated on : 08 Feb 2024
Accounts Receivable Beginning Balance
How to determine the beginning balance for your Accounts Receivable (AR) asset. Beginning Balance for Accounts Receivable (AR) It’s important to have correct Beginning Balances for all GL numbers in your Chart of Accounts in order to get m...
Updated on : 22 Dec 2023
Tax IDs and Beginning Balances
Before You Begin Procare allows all schools within a region to share a common balance sheet and beginning balances. Group all schools that will share a common beginning balance together. They should be placed in a common Region. Every sch...
Updated on : 22 Dec 2023
1st Time Beginning Balances / Edit Balances for Expenses & Ledger
Enter beginning balances for each asset, liability and equity account as needed. In most cases revenue and expenses begin the year at zero. Typically these balances are entered just once when you first begin using Procare. In subsequent years you’ll...
Updated on : 22 Dec 2023
Accounting Abbreviations in Procare
Updated on : 03 Dec 2023
Understanding Beginning Balances
Whenever a new accounting system is used, a starting point for all the values needs to be created. The Beginning Balances are the initial values Procare will use for accounting reports and are comprised of assets, liabilities and equity. Assets...
Updated on : 13 Dec 2023
Partial Payment of Vendor Invoice
You might occasionally have a vendor invoice that you are paying over a period of time. There are a few different ways to record the fact that the invoice is due, and you are paying it off. Two different approaches are: a. This option is best us...
Updated on : 08 Feb 2024
General Ledger Dates
General Ledger Dates act as your calendar throughout the year allowing you to Print Reports for any date range defined here. You may set up dates according to your fiscal year calendar, or any dates you choose, such as month by month, quarter by q...
Updated on : 08 Feb 2024
Converted Chart of Accounts
This article explains why some converted Chart of Account numbers and descriptions may contain a suffix such as 01, A01 and so on. Overview Data exported from Procare version 9.1 to be imported into v10 includes your Chart of Accounts (COA) nu...
Updated on : 08 Feb 2024
Calculate Beginning Balances for New Year
Although it’s not necessary to formally “close” a year, you will want to calculate beginning balances for the new year, prior to running any overall financial reports for that year. When you calculate beginning balances, revenue and expenses are set...
Updated on : 08 Feb 2024
Journal Entry for Depreciation
How to make a journal entry to record depreciation on an asset. Before You Begin You may have furniture, office equipment, vehicles, buildings, etc. that are depreciated over time. Ask your accountant how your journal entry should be made. The ...
Updated on : 20 Dec 2023
Journal Entry for a Loan
How to record a loan for a vehicle, mortgage, or some other item financed for your center. Before You Begin Making a Journal Entry to show a loan that has been taken out can be complex. There may be many issues involved. Ask your accountant how ...
Updated on : 20 Dec 2023
Edit, Void, View or Delete a Journal Entry
You may make changes to an existing journal entry including: editing, voiding, viewing or even deleting the entry as needed. Getting There Click the General Journal icon on the toolbar. It doesn’t matter which vendor is displayed since journal...
Updated on : 20 Dec 2023
Make a Journal Entry – General Journals
A journal entry is made to record transactions that are not otherwise being recorded in another module. This might include things like: bank fees, donations & grants, credit cards, fund transfers, depreciation, petty cash and miscellaneous corre...
Updated on : 20 Dec 2023
Petty Cash
This article explains how to track petty cash including funds put into petty cash and expenses paid out. Two Methods for Petty Cash The first method involves writing ‘checks’ to specific vendors with expense accounts. Deposits to and expenses d...
Updated on : 15 Dec 2023
Expense Ledger Reports
This article describes the overall financial reports available with the Expenses & Ledger module. Before You Begin Be sure to define the date range choices you want available on Expense & Ledger reports. See General Ledger Dates . Cen...
Updated on : 19 Dec 2023
Year-to-Date Vendor Checks
You may wish to make a year to date entry for each vendor showing the total paid to them in one lump sum. This is often easier than manually entering every check a vendor has received so far this year. However, if it is early in the year and only a ...
Updated on : 19 Dec 2023
Debits and Credits
This article explains how debits and credits work when making journal entries and in general how transactions affect the debit and credit columns. Debit and Credit Columns When making a Journal Entry Procare will automatically place each line ...
Updated on : 14 Dec 2023
General Journal Types
A journal is a place to enter transactions that are not already being recorded in other modules. Think of a journal type as a folder where you keep records for similar kinds of transactions. You may want to have separate journal types for things lik...
Updated on : 22 Dec 2023
Edit Register – Reconcile or Unreconcile Items
Use Edit Register to mark old transactions as having previously been reconciled or to unreconcile an item (deposit, check or journal entry) that was reconciled by mistake or needs to be voided/changed. Previously reconciled items will have a “lock” ...
Updated on : 08 Feb 2024
Bank Statement Reconciliation
Use this feature to reconcile bank account information in Procare with your actual bank statement. Before You Begin If you are just starting out with bank reconciliation you’ll likely have some old items you need to reconcile from the past. ...
Updated on : 22 Dec 2023
Add or Edit a Vendor
Once you’ve set up the basic System Configuration settings for the Expenses & Ledger module you’re ready to begin entering vendors. Getting There At the main screen of the Expenses & Ledger module click Add Vendor icon (f...
Updated on : 18 Dec 2023
Vendor Check Register
Use the Vendor Check Register to view, sort or print a list of checks by number, date, vendor or amount. You may include checks that have been reconciled or those that remain unreconciled or both. Getting There From the Functions menu of the...
Updated on : 20 Dec 2023
Create a Budget
Budget revenue and expenses for any time period (month, quarter, year, etc.) then run reports to compare what actually happened with your original budget figures. Before You Begin Budgets are based on the time periods you have previously set...
Updated on : 19 Dec 2023
Vendor Returns and Credits
When you return something to a vendor, the vendor may give you a refund check or other credit. Here’s how to record it. Overview When you return merchandise to a vendor or receive a ‘store credit’, you could make a Journal Entry to account for...
Updated on : 20 Dec 2023
Chart of Accounts
The Chart of Accounts organizes financial information into categories like assets, revenue and expenses. For example your checking account is an asset, tuition charged to a family is revenue and money spent on supplies is an expense. You’ll begin ...
Updated on : 08 Feb 2024
Track Payroll Expenses through a Vendor
If you use a payroll service, you’ll still want to record the totals along with any fees charged by your payroll vendor. Before You Begin Add a Vendor for your payroll service company. This is where you’ll record the entry. You may n...
Updated on : 22 Dec 2023
Tax Deposit Example
This article shows how to record your payroll tax deposit payment with information from the tax deposit report. Overview Your payroll tax deposit includes both employee and employer amounts. Withholdings are liabilities you are paying on behal...
Updated on : 19 Sep 2024
Credit Cards: Payments & Purchases
This article explains how to track credit card purchases, reconcile your credit card statement, record finance charges, and enter credit card payments. Credit Cards as Contra Assets The balance owed on a credit card can be treated either as...
Updated on : 08 Feb 2024
Edit, Void, Delete or Reprint Vendor Check
You may choose to edit, void, view, delete or reprint a vendor check that was previously posted. Getting There Look Up a Vendor and click the Check Calculation icon on the toolbar (pen writing on a check). Edit, Void, Delete or Reprint...
Updated on : 20 Dec 2023
Issue a Check to a Vendor
You may print an actual check or record a transaction made by debit card, credit card, etc. Just Starting Out? If you are just starting with the Expenses & Ledger module you may want to begin by posting Year to Date Expenses for each v...
Updated on : 19 Sep 2024
Standard Account Numbers for Vendors
Set up specific General Ledger account numbers (and amounts) used for each vendor to save time when you record expenses, etc. Getting There Look Up the Vendor at the main screen of the Expenses & Ledger module. Click the Standard Acco...
Updated on : 22 Dec 2023
Filter Vendors
Use the filter feature to view only certain vendors on screen; for example, you may want to see only vendors who are assigned a certain tracking item. Getting There To view only certain types of vendors on screen click the Filter button (looks...
Updated on : 02 Dec 2023
Look Up / Search for a Vendor
Once your basic vendor information has been entered you’ll want to know how to look up or search for a vendor. Look Up a Vendor The easiest way to look up a vendor is to use the alphabetical list of Vendors on the left side of the screen. ...
Updated on : 07 Aug 2024
Clone - Order Checks & Forms Compatible with Procare
Order checks and forms compatible with Procare Child Care Management Software. Order Checks, W2 and 1099 Forms from Dynamic Systems Procare has teamed up with Dynamic Systems to provide a complete line of checks and forms that are designed for u...
Updated on : 02 Dec 2023
Remove / Delete a Vendor
This article explains when and how to remove (delete) a vendor. Removing a vendor is a serious step and should only be done in certain situations. When to Remove a Vendor May I remove a vendor that was accidentally entered twice? Yes. If no c...
Updated on : 08 Feb 2024
Donations, Grants, Fundraisers & Other Revenue
You may track revenue from donations, grants, fundraisers, scholarships and other sources separately from normal child care tuition. In some cases, these funds may be set aside and used for specific purposes. GL Numbers for Donations, Gra...
Updated on : 08 Feb 2024
Merge Vendors / Combine Vendors
The Merge Vendors function is used to combine data from multiple vendors together. This may be useful if a vendor was accidentally entered twice, or in you have multiple locations and the same vendor was originally set up at each location and now ...
Updated on : 21 Dec 2023
Payment of a Loan through a Vendor
How to enter a loan payment, such as a mortgage or auto loan. Loan payments affect two different GL numbers; interest is expensed, and the loan liability is paid down. Before You Begin If recording payments to vendors is new to you, see: Issu...
Updated on : 20 Dec 2023
Search for a Vendor
Search across all locations for a vendor. This is especially useful if you manage multiple child care locations and need to determine the locations that use this vendor. Getting There From the Procare Hom e screen go to Utilities > Search A...
Updated on : 02 Dec 2023
Import Statement
The Import Statement feature is used during Bank Statement Reconciliation to import a statement in OFX, QFX or QIF formats. This can help you more quickly reconcile items on your bank statement to those recorded in Procare. Before You Begi...
Updated on : 20 Dec 2023
Reconcile First Time
Prepare to reconcile your bank statement for the first time. Overview To reconcile bank statements you’ll need to choose a point in time to begin. For example, you may want to start with your first statement of the fiscal year, or with your curr...
Updated on : 22 Dec 2023
Credit Cards: Journal Entries
This article describes an optional approach to tracking credit card purchases and payments by making journal entries and using liability accounts to track credit card balances. Credit Cards as Liabilities The balance owed on a credit card can be...
Updated on : 08 Feb 2024
Split an Expense Check between Locations
If you have multiple locations, you may split a check to expense items among several locations. Before You Begin Confirm the vendor has been set up for All Schools in this Region. Go to the Edit Vendor screen. Make sure the vendor ...
Updated on : 15 Dec 2023
Troubleshooting
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