The information displayed on the Financial Tab is dependent on the tract type. Most of the information displayed on the Financial Tab defaults from other areas of the system.
To access the Financial Tab, click on the Financial Tab, or press “Alt F”.
The Financial Information window will be displayed as follows:
Enter or edit the information on the Financial Information window according to the following specifications:
Purchase Amount
The purchase amount field is only displayed if the tract type is a timber deed. The purchase amount is typically updated when the voucher is entered in the Accounts Payable module. However, if you failed to update the tract with the purchase amount during voucher entry, you can manually enter it by clicking the Drill-Down button located at the right of the amount field. The Drill-Down button is also used to view the detail tract purchase history.
Purchase Amount G/L Account Number
The purchase amount general ledger account number is only displayed if the tract type is a timber deed. If assigned, the field defaults to the purchase amount account assigned in the Fiber Procurement System Control File. Enter the account, accept the defaulted account number, or override it with another account number. To display a selection list of the valid general ledger account numbers, press Enter, or click on the Lookup button. An entry in this field is required.
Depletion Amount
The depletion amount field is only displayed if the tract type is a timber deed. It is maintained by the system, and is updated each time a ticket is added, edited, deleted, or credited for the tract. You can recalculate the depletion amount by clicking the Drill-Down button located at the right of the amount field.
Depletion G/L Account Number
The depletion general ledger account number is only displayed if the tract type is a timber deed. The field defaults to the standing timber account assigned in the previous field. Accept the defaulted account number, or override it with another account number. To display a selection list of the valid general ledger account numbers, press Enter, or click on the Lookup button. An entry in this field is required.
Remaining Balance Amount
The remaining balance field is only displayed if the tract type is a timber deed. It is maintained by the system, and is updated each time a ticket is added, edited, deleted, or credited for the tract. The remaining balance is calculated by subtracting the depletion amount from the purchase amount.
Tract Overcut Amount
The tract overcut amount field is only displayed if the tract type is a timber deed. It is maintained by the system, and is updated each time a ticket is added, edited, deleted, or credited for the tract when the depletion amount exceeds the purchase amount.
Tract Overcut G/L Account Number
The tract overcut general ledger account number is only displayed if the tract type is a timber deed. If assigned, the field defaults to the tract overcut account assigned in the Fiber Procurement System Control File. Enter the account, accept the defaulted account number, or override it with another account number. To display a selection list of the valid general ledger account numbers, press Enter, or click on the Lookup button. An entry in this field is required.
Tract Undercut Amount
The tract undercut amount field is only displayed if the tract type is a timber deed. It is maintained by the system, and is updated when the tract is closed and the purchase amount exceeds the depletion amount.
Tract Undercut G/L Account Number
The tract undercut general ledger account number is only displayed if the tract type is a timber deed. If assigned, the field defaults to the tract undercut account assigned in the Fiber Procurement System Control File. Enter the account, accept the defaulted account number, or override it with another account number. To display a selection list of the valid general ledger account numbers, press Enter, or click on the Lookup button. An entry in this field is required.
Customer Advances Balance
The customer advances field displays the current balance of tract advances. It is updated each time a ticket is added, edited, deleted, or credited for the tract based on the deduction rate assigned to the destination. Customer advances can be added in File Maintenance – Customers, or by clicking on the Drill-Down button. The Drill-Down button is also used to view the detail customer advance history.
Performance Deposit Amount
The performance deposit amount field displays any outstanding performance deposits on the tract. The performance deposit amount is typically updated when the voucher is entered in the Accounts Payable module. However, if you failed to update the tract with the performance deposit amount during voucher entry, you can manually enter it by clicking the Drill-Down button located at the right of the amount field. The Drill-Down button is also used to view the detail performance deposit history.
Performance Deposit G/L Account Number
The field defaults to the performance deposit account assigned in the Fiber Procurement System Control File. Accept the defaulted account number, or override it with another account number. To display a selection list of the valid general ledger account numbers, press Enter, or click on the Lookup button. An entry in this field is required.
Owner Advance Balance
The owner advance field displays any outstanding balances you owe the owner on the tract. The owner advance is typically added when the advance is entered as a voucher in the Accounts Payable module. The owner advance is reduced each time a final settlement is processed for the owner. You can view the owner advance history by clicking the Drill-Down button located at the right of the amount field.
Miscellaneous Expenses
The miscellaneous expenses field displays the total miscellaneous expenses incurred by the tract. Miscellaneous expenses are defined as any tract cost other than production, hauling, and stumpage cost. They are typically added to the tract when they are entered as a voucher in the Accounts Payable module. However, if you failed to update the tract with the expenses during voucher entry, you can manually enter it by clicking the Drill-Down button located at the right of the amount field. The Drill-Down button is also used to view the detail miscellaneous expense history.
Notes Payable Amount
The system allows you to enter and track up to four notes payable accounts for each tract. To add a notes payable amount, click on the Drill-Down box. The Drill-Down button is also used to view the detail notes payable history.
Notes Payable G/L Account Number
If you have entered an amount in the notes payable field, you are required to enter a general ledger account number. To display a selection list of the valid general ledger account numbers, press Enter, or click on the Lookup button.
To save and exit the Tract window, press Page Down, click on the OK button, or press “Alt O”. To exit without saving the Tract window, click on the Cancel button, press “Alt C”, press Esc, or click on the “X” in the upper right corner of the screen.
To access online help, click on the Help button, press “Alt H”, or press F1.