[M/S -7] is one-of-four software segments required to be populated with its respective data each month to fully utilize all the functionality features designed into FastBooks Solutions Service Business Accounting Model which includes generating monthly and annual business financial statements.
A principle design structure throughout the software is only [yellow highlighted cells] are formatted for entering [data]. All other cells are protected, and cannot be changed or altered in any way. Therefore; entering incorrect data is the only possible mistake or error a user can make when using FastBooks Solutions Service-Based Business Software as the organizational “Set of Books.”
The best first step to quickly gain a basic understanding and appreciation for the business purpose of [M/S -7] is to review the [2] images below. The first image populated with the [simulated-business-data] contained in the Practice Software.
The second is an image of how [M/S -7] appears before populating any [data] in the software. Take note of the protected cell coordinates designed to display calculations or information appear as blank cells. Displaying cell coordinates not requiring a calculation as a blank cell is a principle design structure throughout the software to by design limit the [number of numbers] displayed in each respective software segment. For example; cell coordinates designed to display actual vs. forecast better or worse calculations will appear as blank cells when the software does not contain a future forecast.
Left click on the image above to open an enlarged image in a new tab.
Click the link to open [M/S -7] in an Adobe PDF file:
Click the link to open [M/S -7] in an Excel file:
Left click on the image above to open an enlarged image in a new tab.
Click the link to open [M/S -7] in an Adobe PDF file:
Click the link to open [M/S -7] in an Excel file:
The Excel file will open in a Protective View. The [Enable Editing Button] on the top row must be clicked first to save an Excel file on a device. The carefully structured screen and scrolling design of the software segments in FastBooks Solutions were all formatted for viewing in the Excel Auto Hide Ribbon screen viewing mode. Click on the first icon on the right top corner of Excel to change the screen display view to this designed screen display option.
[M/S 7] -Enter Invoices for [Activity Base #3] Expense Accounts
The purpose of model segment 7 was to offer a useful tool for tracking and planning two KEY business expense accounts to structure into Activity Base number 3. Assigning two expense accounts in [Activity Base -3] is not required. A user can assign one or two, or no expense accounts in Activity Base 3. All business expenses then are entered in [M/S -8].
To be able to track and plan for the two significant expense account classifications structured into Activity Base 3 the vendor invoices debited to each respective expense account are required to be entered in software segment seven each month. The only real value for assigning expense accounts in Activity Base 3, is when several vendors provide the goods or services classified in these expense accounts. In the Practice Software dental clinic example, Dental Supplies Expense and Lab Fees Expenses were the two account classifications selected for [Activity Base -3].
The unique screen design allows for a quick understanding of the dollar value of the goods and or services purchased from each vendor; and the percentage of expense distribution of the dollar purchases by each supplier for both expense account classifications. Software segment 7 allows a user to set a target as a percent of revenue goal for both expense accounts and displays both Current Period and Year-to-Date better or worse statistics in relationship to the targeted percent of sales/service goal set for each of these two primary expense account classifications.
The key value of investing the time and effort for allocating one or two expense accounts into [Activity Base -3] is the relevant metric box in the left-hand corner of software segment 7. Every time a new vendor invoice is entered this critical need to know vendor distribution percentages for these expense accounts will recalculate and be readily available when negotiating with suppliers.
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