This expanded feature allows you to see more detail in your reports by allowing you to drill down from summarized reports to detailed reports, and then drill down further to the original transactions. It caught a few errors (as I had a 3,000 line journal entry) and it did catch some things that were inconsistent, but it kind of forced some dates that I didn’t realize would happen. Help Videos are available from the Red Wing Software website and within the CenterPoint program.
- This video discusses how to change the font, style, and size of the text from the Appearance section.
- This video discusses how to enter budget activity to Balance Sheet accounts except for Raw Materials, WIP, Inventory, and Loans (which will be discussed in other videos).
- This video discusses the process to follow to clear the receivable (write-off) for customer accounts receivable balances that you do not expect to collect.
- Quotes and orders can easily be modified by using the Forms Designer within the software.
- The video also discusses how to add a field using drag-and-drop functionality and resizing a field or section on a form.
- Your list of accounts should describe what your company/fund does, your resources (cash, machinery, etc.) that your company/fund owns, and the loans or debts your company/fund owes to other companies/funds and individuals (creditors).
It also discusses organizing your Favorites into folders, renaming reports, removing or reordering reports in a Favorite folder, and determining which tabs display by default in the Reports screen. This video discusses how to open an existing form that can be modified and then saved with a different name. The video also discusses how to add a field using drag-and-drop functionality and resizing a field or section on a form. This video discuss how name groups are used to categorize your names in the Names list and how name groups can be used for filtering, selection and reporting.
Time Clock Import (From Physical Time Clock)
This video discusses how to determine when you consider sales taxes due and the steps necessary to automatically calculate sales taxes on customer invoices and report sales tax. This video discusses how to add a page number to a form nd modify the way the page number displays on a form. The video also discusses how to format forms by changing alignment and width of fields and how to preview/print a form. This video discusses locations which describe the physical locations that generate financial activity. Locations can be used in financial analysis by running financial statements by location. When printing Financial Statements, the Detail Level field in Report Selections allows you to decide how much detail to include on the reports when using subaccounts.
This video discusses how to extend an existing budget vs. creating a new budget. This video discusses how to change the font, style, and size of the text from the Appearance centerpoint fund accounting section. It also discusses how to add a text (label) field from the Data section or add a line field and change the foreground color, line direction, line style, and line width from the Appearance section.
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Our banker asked us to switch to it because Quikbooks doesn’t have the depth of info available. CenterPoint Fund Accounting is available as both a locally installed program or via a cloud deployment.
If users know their activity is monitored, they are less likely to commit fraudulent activity. CenterPoint has an excellent audit trail and makes it easy to determine who entered a transaction, created date and time, how many times edited, who voided, and much more. Profit center/Department detail is for analysis purposes and does not affect tax information. When you look at the profit/loss of your operation for any given time span, profit centers/departments give you the power to pinpoint the status of each specific part of your operation. Account classes are used to separate an account type (Assets, Cost of Goods Sold, Equity, Expenses, Liabilities, Other Expenses, Other Revenue, Revenue) and create labels on your financial statements. Some examples of account classes are Current Assets, Other Assets, Fixed Assets, Current Liabilities, Long Term Liabilities, and Other Liabilities.
Drill Down/Interactive Reports
Import time from virtually any time clock that accepts the universal ASCII file format. Choose a full-service W-2 and 1099 fulfillment option as an added resource, which significantly reduces the time spent on year-end processes. 1099 forms are easily managed and filed or eFiled from within CenterPoint.
If a payment is applied at the time of the entry, the customer Accounts Receivable balance is adjusted accordingly and the Cash account is increased. This video discusses the Quick Transactions feature in CenterPoint which is a means of entering multiple transactions in the same screen and posting them all at once. Only one transaction type can be entered at the same time, for example Payments, Receipts, or Vendor Invoices. This option can be useful in environments with heavy data entry oriented such as a Service Bureau, or can be used for entering a group of transactions such as the monthly EFTs from your bank statement.
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You can select the way recalled transactions display by default from the Options button. If you do not include your receipts in a deposit, all of your receipts will be listed separately when you reconcile your checkbook. This will make reconciling your bank statement difficult because your bank statement will summarize all of the amounts that are deposited simultaneously into one amount on your bank statement. Bank deposits are used in the Receipts transaction entry screens and are optional. Receipts with the same bank deposit number will be assigned to the same bank deposit.
- We moved forward with Centerpoint through RedWing and we absolutley love it!
- The import process can be used to create transactions that have not yet been entered in CenterPoint or match existing transactions so duplicates are avoided.
- This video discusses the budgeting feature of entering a basic revenue/expense without management details (not allocating the revenue/expense to profit centers/departments, production centers/locations, or projects).
- The Administrator user group has full access rights which cannot be taken away.
- This video covers the .correction process for an entered accounts payable invoice to enter a credited amount.
This video discusses some of the shortcuts that can be used when entering dates in CenterPoint transaction entry screens. This video discusses how users can be assigned to user groups that then are given access to specific menu selections (security policies) in CenterPoint. Red Wing Software offers Customer Care Memberships with guaranteed response times, and excellent service. 100% of our product enhancements are based on customer requests, so you have a say in the features of the product you are using.
General Ledger Features
It also discusses the differences between the general journal transaction types. This video covers a few of the common reports used to review sales, customer activity, and balances. This video discusses batch reports which allow you to print/export multiple reports at the same time without having to select each report individually.
Reporting within CenterPoint includes the presentation of the Flow of Funds, Balance Sheet, and Income Statement in a customizable spreadsheet format. These reports can be viewed with multiple periods side-by-side and allow for the comparison of acutal to budget information. CenterPoint Accounting Software is a financial management software for startups and small organizations. This video discusses how to reconcile transactions entered in CenterPoint to the bank statement received each month from your bank. The summary will identify if there are differences between your reconciliation and the bank statement balance.
Red Wing Software has set up default tool bars and a QuickList for you, both of which can be customized. The Quick List becomes a way for you to customize the menus in CenterPoint. Red Wing Software provides this documentation for informational purposes only.
Training & Support
The advantage of using Bank Deposits is that it makes it easier to identify the bank statement deposit amounts during bank reconciliation. This video covers using the Receipts screen to enter a payment from a customer with open accounts receivable invoices. This video discusses custom name fields that allow you to create information that you want to track for customers, vendors, etc. that CenterPoint doesn’t already have a field for. This video discusses how accounts are used, the hierarchy of accounts which include Account Types, Account Categories, Level 1, Level 2, and Level 3 Accounts. This video discusses how you can customize CenterPoint transaction entry screens by determining which fields are stopped at for data entry.