ACCOUNTS INTRO

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Intro to Everest Accounts

Integration is the key

Everest is a unique system in that it is fully accounts integrated. Every transaction that is processed, through admin functions like contribution updates and exits, automatically writes up the relevant accounting transactions.

This functionality means you do not need a separate accounting system to produce a trial balance and ledger – Everest does this for you.

Accounts Menu

Manuals are available for each sub-menu, but a brief explanation is provided in this manual.

Cashflows

Parent

Process generated accruals, that may require payment/receipt in bulk, appear on this screen:

Client

Contributions, Loans and Transfer In receipts are processed via this screen:

Accounts Search

Every transaction on Everest has a unique batch number. The Accounts Search screen allows you to search for a batch, which will then show the full transaction information for that batch, including member level entries.

Debtors and Creditors

Non-member debtors and creditors, for example adhoc invoice accruals, are paid or received via this menu.

Bank Reconciliation

An extremely important accounting function is linking bank statement items to cashbook entries – this facilitates generation of a Bank Reconciliation.

Bank Statements can be imported and viewed via this menu. Various electronic file formats can be imported making it easy to import files received directly from the Bank.

Bank Authorisation

Bank Authorisation of Non-member payments.

Payment Management

EFT Payments are made via this screen. Authorisation levels can be created to facilitate multi-level authorisations and limits.

Debit Order Management

Contributions received via debit order are managed via this screen. Authorisation levels can be created to facilitate multi-level authorisations and limits.

CFLO Management

Cheques are issued and managed via this screen.

Add a Journal Entry

Occasionally you will need to process a manual journal entry for transactions that are not generated via system processes, for example an adhoc invoice.

Add Multiple Journal Entries

Functionality for bulk journals i.e., more than one ledger/description account can be debited and/or credited at once.

Investment Switches

Parent

Switches that are not affected at member level but are a direct transfer of assets between investment policies, are processed on the Parent Investment Switches screen.

Client

Member level switches between products are affected on this screen, either manually or via import.

Custom Switches

Manual Processing of Parent level switches where policies, products and amounts are manually entered.

Unit Price Management

Policy and Product Prices are imported and linked in this menu.

Cashflow Unit Prices

All investment-based transactions will appear on this screen, ready for pricing. The transactions must be updated with the relevant unit prices and then confirmed to link the price to the transaction.

Confirm Unit Prices

If auto-confirm has not been set up on the database, all investment-based transactions must also be confirmed on this menu.

This screen allows you to check the policy and product prices that will be confirmed to the database before linking them to the transactions.

Last Audit / Audit Lock Date

On the Parent Details screen there is a “Last Audit” date field. When this field is populated the accounts entries up to and including that date are “locked”. Any transactions processed with an effective date prior to this lock date will appear in the accounts on the following day. This ensures that the final TB and Ledger values do not change with erroneous entries.

Accounts Reports

There are many reports available that can be utilised to prepare monthly or annual accounts. These are detailed in a separate manual, but an example of a Trial Balance, produced directly from Everest, is shown below. This trial balance is generated based on all the transactions that have been processed through Everest.

Disclaimer and Copyright

DISCLAIMER

Please note, whilst care is taken to illustrate numerous scenarios, it is impossible to detail all instances and therefore this document should merely serve as a guide for the purposes of demonstrating system functionality and conducting employee training.

In accordance with the above paragraph, this training manual is published and distributed on the basis that EBSphere (Pty) Ltd is not responsible/accountable for any actions taken by users of information contained in this training manual nor for any error in or omission from this manual.

EBSphere (Pty) Ltd does not accept any responsibility whatsoever for a misrepresentation performed by any person in respect of claims, losses or damage or any other matter, either direct or consequential arising out of or in relation to the use and reliance, whether wholly or partially, upon any information contained or products referred to in this manual.

Further, the contents of this training manual are subject to change without any notice and further highlight the need for this training manual to serve only as a guide.

COPYRIGHT

This documentation and the software described in it is the exclusive property of EBSphere (Pty) Ltd. This manual or the software may not be copied in whole or part, without the express written consent of EBSphere (Pty) Ltd. Under the law, copying includes translating into another language or format.

EBSphere (Pty) Limited

P.O. Box 785803

Sandton

2146