Berit Sjølund

Law of Norwegian Bookkeeping demands documentation on projecttransactions in a combination of info that is not possible to report/export fra Opertions without "cut and "paste" of different reports and process by hand afterwards Operations is not capable to produce reports compliant with the demands in reporting to Norwegian authorities according to law and restrictions. The reports is essential to document account and tax on all transactions in general ledger related to specific projects. Due to the kind of business (Property), there are regular inspections by the tax-authorities where the essential documentation has to be presented as a basis to control and analyzes. This regards big projects of administrating, rehabilitating and developing property projects or projects in building new property with purpose of future sale. The demands of documentation in this kind of projects, are given in the Norwegian law of bookkeeping, chapter 8-1, §3 and 5. The specification/documentation is supposed to contain all transactions in correct order, where our customer expect the projectcategory to be as relevant information as the department and other dimensions in the ledger. The documentation must be accessible electronically according to law of bookkeeping §13b and must be able to be transferred to external software for control and analyzing. The information must be accessible electronically without any need of manual processing before it can be used. Our customer is comfortable with the fact that Operations is according to the law of bookkeeping regarding the availability of the necessary information, but they cannot see that the system is capable of presenting the information complete neither in export or in reports. The specification must contain as a minimum: - Voucher date (documentation date) - Voucher - Ledger account and name - All dimensions (not only with dimensionvalue but also the dimensiontype, t.ex “Department”) - Projectnumber - ProjectCategory - Other relevant transactioncodes as t.ex Tax-code and amount - Amounts The demands of specifications in the documentation is according to §8-1-4. The existing reports in General Ledger, Transaction list by date, is a good start but the information presented is as a traditional report with headings on each page etc. Corrections wanted is: - Include all of the transactions in voucher including the Invoice arrival-postings from Vendor - Include Project Category with description - Possibility to export the transactions on a format that can be used “as-is” in Excel without having the need of removing headings from x number of pages. The transaction list must be presented complete on each line where information on which dimension types and values are used in addition to the ledger account - The amounts presented in one column including signs (it must be possible to control that all transactions balance on each voucher)

"One Voucher" is described with several scenarios that will be covered when "one voucher" is becoming obsolete - ex customer or vendor payments. But the accounting of how a Vendor Invoice where there are more than one project to be used, is not mentioned. This should/must be taken into consideration Companies using Project Management & Accounting must be able to split the invoiceamount into several projects. One can not expect the Vendor to split invoices pr. project that are supposed to "share" the invoiceamount. They have not necessarily the knowledge of how their customer will do the accounting. This is also a relevant scenario on Fixed Assets. Ex an invoice regarding 100 computers, where each and one of them are supposed to be separate assets. The ability to split vendor invoices must kept for several sub-ledgers

While working with bank reconciliation worksheet, there is a possibility to mark transactions from the bank statement as new. This is typically fees, charges and interest that's supposed to be posted in Operations. As the functionality is today, posting of this new transactions into Operations general ledger (and bank account transactions) must be done from each bank statement where the new transactions is included. Fees, charges and interest can in worst case be appearing every bankday, so this is very timeconsuming when you have one bank statement a day on 100'ds of bankaccounts. It will be more effective if one can set the bank transaction code, ledger account etc directly in the reconciliation worksheet. Posting can then be done in context of marking the worksheet as reconciled.