ANALYZE UBS TERMS BELOW

      ADD ENTRY VS QUICK ENTRY

Add Entry

• Add Entry is a single transaction entry procedures. When you enter a debit entry, you have to add credit entry or vice-versa to complete the double entry concept.

Quick Entry

• Quick entry is a double transaction entry procedure. When you enter one side of the double entry, the UBS accounting system will generate the other side of the entry automatically. All you need to do is to nominate a master account. Master Account can be any double entry account and it means the account’s entry will be handled by the system.

DELETING ALL TRANSACTION VS DELETING INDIVIDUAL TRANSACTION

Deleting All Transaction

• To delete all transactions, account numbers and batch titles of the data folder will be deleted. The user may partially clear or delete all data or transaction in the system. Go to 7. Housekeeping à 6. Clear Files / Generate Sample Chart. Choose the first option which is Clear both chart of account and transactions and then OK button.

Deleting Individual Transaction

• It is about deleting single or individual transaction only. There are 2 steps to delete transactions :-

                      i.        Step 1

Ø  Go to the batch contains the transaction.

Ø  By using V.EDIT function at 1. Transactions File Maintenance, edit the debit and credit side of the transaction as following :-

a)    Key in all (10) asterisk (**********) in Reference Number Field.

b)    Change the amount to 0.00.

Ø  And then Click SAVE button.

                    ii.        Step 2

Ø  Go to 7. Housekeeping à 4. File Organisation.

Ø  Click Unmark All button, then Mark on Delete Unwanted Transactions and then Click OK button.

Backup

• Backup is compression of multiple data files from the Sage UBS Accounting System into one compressed files and transfer the compressed file to the floppy disk / USB flash drive or hard disk.

Restore 

• Restore is decompress the compressed files from floppy disk / USB flash drive or hard disk in order to recover back the multiple original data files which shall be stared back into the system.

EDIT FUNCTIONS VS V.EDIT FUNCTIONS

Edit 

• Edit is a function that allow the user to edit or modify single transaction in a batch by clicking the EDIT button. Where the user can click the edit button if the user wants to any changing single transaction and must be edit one by one. It is a normal Edit function.

V.Edit

• V. Edit is a function that allows the user to edit multiple transactions in a batch by clicking the V.EDIT button. The transaction will be display and then the user can view the whole batch transactions and then modify the transactions. V.Edit function can help users to modify transactions faster and easier. When users click on V.Edit button, the screen will display the transactions that shown on the transaction viewer (at lower part of the page) to allow users to do modification.

 PERIOD VS ACCOUNTING PERIOD

Period

• Period is the sequence of accounting month. Period 1 refers to first accounting month; period 2 refers to second accounting month and so on. If your current accounting year is from 1 January 2012 to 31 December 2012 period “2” refers to the month of ‘February 2012’. If your current accounting year is from 1 July 2011 to 30 June 2012, period ‘2’ refers to the month of ‘August 2011’.

Accounting Period 

• Accounting period in bookkeeping is the period with reference to which accounting books of any entity are prepared. It is the period for which books are balanced and the financial statements are prepared. Generally, the accounting period consists of 12 months. However the beginning of the accounting period differs according to the jurisdiction. For example one entity may follow the regular calendar year, i.e. January to December as the accounting year, while another entity may follow April to March as the accounting period.