Accounts Production Update 60 (10.2.5)
“Obstacles in life are like logs in your path. You can step over it or move it out of the way, or you could cut
it up and make firewood” (unknown).
This quote states exactly what we are doing
at GreatSoft – making firewood out of all our obstacles! Clearing the way and adding value
while doing it. The past 3 months the Accounts Production team has been busy implementing
Phase 2 of the Software and Template changes and have come up with some valuable additions
to further enhance the user's experience.
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Software Updates 58-60 (Release 10.2.5)
are now available, coupled with the updated
IFRS for SMEs Template Version 2010.5.5. These updates can
now be downloaded from the public area of the GreatSoft
FTP Site.
Please note that it is essential that Update 60 must first be installed before the updated IFRS for SMEs Template can be used.
Highlights for Software Updates 58 - 60
1. Multi-currency
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A Multi-currency functionality has been introduced throughout Accounts Production to accommodate for the needs of our ever expanding client base.
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2. Secure Financial Reports creation to PDF
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It is now possible to generate secure financial documents in PDF-format using in the Report Generator. The creation of secure AFS documents can be enforced on a firm-wide level if this level of control is required.
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3. Enlarged font size in GreatForm
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The font size in GreatForm has been enlarged for better navigation through the Framework and improved user visibility.
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4. Handling of Rounding differences
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A change was made to the rounding routine to address small differences that were found in some instances when e.g. running the balance sheet. These small rounding differences only present themselves in certain ledgers when using a rounding factor of 0 (no decimals).
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5. VAT-reports
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Manual journals posted for VAT adjustments will now also be taken into account in the Tax reports, to show the movement in VAT.
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Improvements made to the IFRS for SMEs Template v2010.5.5
1. Automated Statement of Cash Flows
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The long-awaited Automatic Statement of Cash Flows has been completed! This feature allows the user to print the SCF with the click of 2 buttons, and any reconciling items can be entered into the accompanying supplementary schedules.
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2. Members' Report
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The option to print a Members’ Report for CCs has been added. This report is the standard Members’ report as issued by SAIPA.
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3. Improvements made to the Capital Accounts and Profit Distribution
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Provision was made to accommodate Capital Loan Accounts under equity for CCs and Trusts (previously only for Sole Proprietors and Partnerships). Profit distribution can be set up for these accounts according to a different percentage each year, and profits will automatically accumulate into these accounts. No need for manual journals to allocate profits anymore!
The Profit Distribution schedule in the Income Statement for Partnerships has now also been automated.
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4. Automation of several notes to the AFS
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An option to print the following notes from the TB has been added:
- Provisions
- Deferred tax
- Investment property
- Distribution to beneficiaries
- Biological asssets valued at fair value
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Detailed instructions on how to apply these template changes are available and will be issued to the AP key-users, but can also be downloaded from the public are of the GreatSoft
FTP Site.
We thank you for your continuing support and valuable input and look forward to making some more Firewood!
As always please feel free to contact the GreatSoft Team on 0861Great1
(0861 473281) or send an email to a
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
for
any questions or feedback.
Regards and Best Wishes
Marléze Scheepers
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