Some of term that is used in UBS

Mini Blogging Project.

Post 7: Elaborate some of the UBS terms of stated below.

a)    Closing Date Vs. Accounting Period

Closing date means a date that we use every times when we want to start to do any transaction works or key in accounts data by using the UBS system. We will key in the date when want to sign in the UBS system.

While for accounting period, it refers the sequence of accounting month, Period 1 refers to the first accounting month, while Period 2 refers to the second accounting month

Example:       1^st January 2012 = first month.

                      1^st February 2012 = second month.

If your current accounting year is from 1^st July 2010 to 30^th June 2011, then period 2 will be referred to the month of ‘August 2010’.

b)    Add Entry Vs. Quick Entry

Add Entry is a single transaction entry procedure. When we enter a debit entry, we have to add credit entry (or vice-versa) to complete the double entry concept.

As we know, this Add Entry method is used to key in double entry one by one. We may either key in debit entry and followed by credit entry or in a reverse sequence. This method is very useful when we have more than one debit entry or credit entry.

While for Quick Entry, it is a double entry procedure. When we enter one side of double entry, the system will generate the other side of the entry automatically. All we need to do is 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.

C) Edit Vs V.Edit

Edit	V.Edit
- Go to 4. Transactions > 3. Print batch of    Transaction > Then  select batch from 5 to 5. - Point to the desired transaction then double click.    After done press SAVE button. Functions  - Can only edit one transaction only - Can be easily used by beginner	-  Go to 4. Transactions > 3. Print batch of    Transaction > Then  select batch from 5 to 9. -It will show all transaction and then edit them.  Functions - Can edit multiple transaction - Faster and easier to edit

 D) Back Up Vs Restore

Backup	Restore
- Go to 0. File > 1. Backup and Restore >     1. Backup - Click on Backup button , then click on OK.It will     saved named as Backup.acc . Then press OK. - It can even be saved on Diskette , USB flash   drive or on Hard Disc.	- Go to 0. File > 1. Backup and Restore >     2. Restore - Click on Restore button , then press Yes. -The files will be automatically loaded. -Then press ok button to go back to main menu.