General
How do I define the number of decimal places for my currency?
Go into File>System Configuration>System Settings and locate field ‘Currency Decimals’. By default this is set to 2 but you can amend it to provide any number of decimal places up to 6. You should note that this affects only Unit Prices. I.e. Any ...
How do I define Credit Terms in Ostendo?
Payment Credit Days can be related to: - From Invoice Date - From end of current Month - From end of next month To set up Credit Terms go into File>Financial Configuration>Credit Terms. Select one of the Terms to be the default that will populate a ...
How do I set up Tax Codes and define the way they are used?
Tax is evaluated at Order Line Level. This is achieved by having a Tax Group against each Customer/Supplier and another Tax Group against each Item/Descriptor. When creating an Order the Customer (or Supplier)/Item (or Descriptor) combination defines ...
How do I define the Tax Accounting Basis for my Business?
Ostendo allows you to define one of three Tax Accounting options depending on how you collect and pay Tax. The options are · Invoice: Sales Revenue and Tax Amount are posted at time Invoice was raised · Cash Immediate Sales: Sales Revenue is posted ...
How do I define the Aging Periods?
You have the option to define the aging based upon the Invoice Date or the Payment Due date. For either option you can define if the aging is by calendar month or you can define the length (in days) to be included in up to four aging Periods. To set ...
How do I prevent financial entries to prior or later periods?
You can prevent financial entries prior to a user-specified date by going into File>Financial Configuration>Cutoff dates. There are three separate dates; each covering a specific area. These are: - Order, Order Transactions, and Inventory - Supplier ...
How do I maintain Cost Centres in Ostendo?
You can create and maintain Cost Centres in Ostendo. You can then link these Cost Centres to financial activities. These can then be mapped to the Account Codes in any 3rd party Financial package. To create Cost Centres go into General>Cost Centres
How do I define Currency Codes and their Exchange Rates?
Go into File>Financial Configuration>Currency Codes and enter the foreign currency. Note that your home currency need not be entered, as Ostendo will use your computers Regional Settings. Against each currency you can add the currency symbol and that ...
How do I map Cost Centres to Accounting Activities?
Ostendo comes with Cost Centres already linked to ‘basic’ Journals. If you wish to amend these you should first create your Cost Centres via General>Cost Centres. If you then go to File>Financial Configuration>Cost Centre Mapping you remap the base ...
How do I set up opening balances for Customer records?
As you most probably have outstanding Invoices in your ‘old’ system, these can be added into Ostendo by firstly going into Sales>Settings>Sales Rules and amending field ‘Direct Invoice Numbering’ from Automatic to Manual. You should then go into ...
Financial Flow - All Modules
The attached documents describe the accounting entries relating to the various modules within Ostendo
Why is there a difference between Ostendo and the Financial System regarding Inventory Valuation?
The inventory problem is caused by the following :- In the financial system the data is sent to the GL at the date it is specified to be posted. In Ostendo the Average cost price gets changed at the date the purchase receipt was physically posted. - ...
How does Ostendo determine the Assembly receipt Costs and Variances?
1. First look at File>System Configuration>System Settings and you will see that cost that is received into Stock. This is either Standard (which uses the Standard Cost held against the Received Parent Item) or Average (which uses the Actual Cost of ...
How do I write off an invoice to Bad Debts in Ostendo?
1) Create a Category called Bad Debts 2) Create a Descriptor called Bad Debts and link that Descriptor to that Category. 3) Create a Cost Centre called Bad Debts 4) Map this Cost Centre in the Link Program to your Bad Debts GL account 5) Create a ...
How do I change the GST Method in Ostendo from Payments (Cash) to Invoice Basis?
On occasions there will be instances when an Ostendo Company database needs to be changed from Cash GST method to an Invoice (Accrual) method. This change is a significant change to how a business accounts for its GST, and therefore it is advised ...
Mapping Cost Centre Lookup Files Not Displaying In The Link Program
In some operating system environments (Win2008 Server), the Cost Centre Lookup files are not available to the user. The look up file is created as expected, but the Link can’t seem to “see” the lookup file. The path is mapped correctly , however the ...
Unable to download Latest Link Program from Development-x Website
We have come across a situation where if you are using Google Chrome Browser and you try to download a file that is a different version than that you may have previously downloaded, Chrome will re-download the previous version again. This only occurs ...
How Do I Invoice A Customer Deposit?
Occasionally a customer will require an Invoice in order to pay a Deposit for goods on a Sales Order. This process will work for Counter / Delivery Sales Orders and could also be utilised in a similar manner for Jobs. It is suggested as an ...
How do I setup Ostendo for Cash (Payments GST Basis)?
Definition: Sales Revenue is posted at time Invoice was raised. Tax Amount is posted at time of Payment Method: - Define the Accounting Basis File>System Configuration>System Settings MYOB Only: - (MYOB Only) Setup a new Liability account in the GST ...
How do I re-process a financial batch Relating to the Link Program?
On occasions you might need to re-process an already processed batch into the accounting system. This can occur if a copy of the Accounting system database was restored to an earlier version before the batch concerned was posted. From within the ...
Auto Posting to from Ostendo - Accounting Link without using Queue Service License
The attached article descibes the process of running the Accounting Link program in background from a schedulling program without needing a Queue Server License.
Why dont some Purchase Invoices transfer to MYOB when they are flagged as Transaction Valid?
On occasions a Purchase Invoice will not post across to MYOB, however the Financial Posting Status is flagged as 'Transaction Valid'. The main reason for this is to do with the capabilities of the MYOB ODBC driver. The driver software only allows the ...
How do you setup Accounts Receivable Foreign Currency in Ostendo?
The attached article details how to setup Foreign Currency Accounts Receivable within Ostendo.
How do you setup Purchase Foreign Currency in Ostendo?
The attached article details how to setup Foreign Currency for purchasing within Ostendo.
MYOB AccountRight Live Integration Document
This document explains how to setup the integration between Ostendo and MYOB AccountRight Live. Download from the link below: http://www.ostendo.info/downloads/ostendo/OSTENDO_MYOB_AR_LIVE_INTEGRATION.pdf
Limitations Of Accounting Products That Integrate With Ostendo
Occasionally Development-X is asked for comments on which accounting software would be most appropriate for an Ostendo site. Development-X cannot promote any one accounting software package, however below we have endeavoured to highlight limitations ...
Cost Centre Mapping to General Ledger Accounts
Attached is a table of Ostendo Cost Centres and their corresponding General Ledger Account types. This can be used to ensure the Cost Centre codes are correcting mapped to Profit & Loss or Balance Sheet accounts.
Inventory and WIP As At Date Calculations
This article describes how the Inventory and WIP As At Value (Inventory -> Inventory and WIP Value) report calculates retrospective Inventory and WIP valuations.
Inventory and WIP As At Date Calculations
This article describes how the Inventory and WIP As At Value (Inventory -> Inventory and WIP Value) report calculates retrospective Inventory and WIP valuations.